Entrepreneurial Investments That Beat Stocks Every time

Successful entrepreneurs use their resources differently compared to the average lot. Firstly, they are disciplined when it comes to deciding what to do at any given point in time. Discipline requires sacrifice. On a Friday afternoon, do you leave the office early to catch a drink with your buddies or do you keep your discipline and get the job done? Your answer will determine how successful you are likely to be. In this piece, we will tackle the most important entrepreneurial investments that beat the stock markets every time.

Most entrepreneurs are estranged from their families, by necessity, not by choice, especially in the early days of their businesses. This is the harsh reality that entrepreneurs have to deal with. They put in a lot of hours in the office, thereby missing family dinners, missing your kids’ soccer games, arguing with your spouse about how much they miss the days when you used to care, and more. Do you think you can cope with that kind of sacrifice?

Nothing happens without action. If you want any form of progress in your business, you will need to get off your lazy behind and start making things happen. In as much as you have a wonderful plan on paper, it will amount to nothing unless somebody does something to execute the plan, and that somebody is you. Unless you can afford to outsource, you must actually do certain things you dislike, or are not comfortable with. Sometimes you will make the wrong decision, implying that you must go back to assess what went wrong, adapt your plan to the new conditions, and carry out the plan again. Take properly calculated risks – don’t gamble with what you can’t afford to lose.

To succeed, you must be willing to do whatever it takes, within legal bounds, of course. Don’t be afraid to fail. When failure happens, just find an alternative route to get to the same destination, unless you can find a way to open the same door that has just been shut in your face. The mantra is to: Act, Fail, and Change… Act, Fail, and Change… until you succeed.

Don’t allow setbacks to hold you back. Keep your goal constantly in mind and let it drive you towards building a business you can be proud of, a business that benefits you financially and emotionally.

Leadership involves setting goals for yourself and your business. It involves formulating strategy and crafting plans to make your vision a reality. Leadership is the ability to communicate and work towards your vision. It is your ability to sell your vision to your potential investors, partners, employees and customers. An important but often overlooked element of leadership is the ability to create or identify leverage. Are there affordable tools you can use to make your job easier? How can you optimize your processes and systems to produce the most value for your business and your customers? Delegation is a form of leverage. It saves you time and energy so you can focus on the important task of stabilising and growing your business.

It’s important for you as a leader to continuously develop your skills and keep them sharp, considering that you will be tackling critical issues like cash flow, marketing, employees, etc. It’s imperative that you stay on top of your game. Leadership is about guiding. Develop your people skills so you can build lasting and fulfilling relationships with suppliers, employees, customers, and investors.

Patience is the ability to endure difficulties. All businesses face obstacles daily, both minor and major. Don’t lose your head when things go awry. Patience is the ability to persevere in the face of delay, when hope is waning and there appears to be no light at the end of the tunnel. Try, as far as possible, to steer clear of negative thinking and negative actions. When you lose patience, you run the risk of falling victim to the many scams and other forms of malpractice that swindle desperate victims off their hard-earned money.

Be vigilant and think twice before you commit your money and energy into anything, especially promises of big bucks with little or no effort on your part.

“Big pay and little responsibility are circumstances seldom found together.” So said Napoleon Hill.

“If you can keep your head when all about you are losing theirs…”

From the poem, If, by Rudyard Kipling.

That’s the basic summary of emotional intelligence. Bad decisions often arise when you are emotional and not thinking straight. Don’t let this be you. Business involves dealing with a variety of people, each with varying emotional backgrounds. How do you stand your ground without coming across as inconsiderate and self-centred? How do you interact with, and satisfy, an angry or emotional customer? How do you handle employees with unreasonable expectations, who are always asking for more but are constantly producing less? How do you keep yourself from snapping at an unreasonable customer?

Social awareness and self-regulation are key elements of emotional intelligence. Treat customers and employees fairly without compromising your own values. Conquer your own fears and move beyond your comfort zone. These are the keys to becoming a successful entrepreneur…

Everything you do in business and in life is bound by time. Time is the most precious resource, and yet the most under-valued. Perhaps, this is because there is no monetary value attached to each second of the day. Time can’t be traded on the JSE, it can’t be exchanged for anything else. Time, much like life, just is… and once it is done, then you are done.

The importance of time is not derived from the ticking clock. The importance of time, especially for entrepreneurs, is the element of choice embodied within the passing seconds and minutes. The time I’m referring to is not the units used to measure time, but the possibilities time contains.

We all get the same 24 hours every day, why is it that some people make more money and have more fun than others? The simple answer is that they make better choices.

When you decide to do one thing, you are simultaneously deciding against doing something else. In economics, this trade-off is called “opportunity cost”.

Choose to do empowering things with your time. Choose activities that will benefit you in the long run. Temporary pleasures may be attractive right now, but they can be costly in the long run. The pursuit of instant gratification has caused many people to throw their life savings down the drain. Time lost is never regained. Choose wisely – invest your time for greater returns later on. Don’t spend it foolishly, because this will cause you greater regret later on.

You will need to invest time in networking and building relationships. You will need to invest time in formulating and implementing your company’s marketing and promotional campaigns, dealing with PR issues and ensuring customers are happy. As a business leader, you have to be knowledgeable about current trends in your industry. This means doing a lot of research and attending events, meetings, seminars, all of which take time. Plus you need to invest in your own personal development to expand your knowledge and your effectiveness as a leader.

Or you could just catch a beer with your buddies

and let the time pass by...