“Almost everything worthwhile carries with it some sort of risk, whether it’s:
• Starting a new business
• Leaving home
• Getting married
• or flying into space.”
– Chris Hadfield
Stop waiting for the perfect moment
The only perfect moment is the one where you decide to take action
"Success seems to be connected with action.
Successful people keep moving.
They make mistakes, but they don't quit."
– Conrad Hilton
Before making an investment, ask yourself:
‘What’s the downside?’
Understanding risk is just as important as chasing returns
A friendly reminder when you're hiring a new employee:
Take into account the total cost of the hire, not just the salary.
This includes:
1. Salary
2. Benefits
3. Taxes
For seasonal businesses, like landscaping, summer camps...
It’s critical to budget for the off-season
1. Keep cash reserves handy
2. Lower your expenses to the lowest possible amount
“To be a successful business owner and investor, you have to be emotionally neutral to winning and losing.
Winning and losing are just part of the game.”
- Robert Kiyosaki
A reminder about being right in investing:
“In this business, if you’re good, you’re right six times out of ten.
You’re never going to be right nine times out of ten.”
- Peter Lynch
As an accountant, you get to see the financials for a lot of businesses
Most people assume that a big business is a good thing...
But the most profitable businesses aren’t the biggest
“All you need for a lifetime of successful investing is a few big winners, and the gains from those will overwhelm the losses from the stocks that don’t work out.”
- Peter Lynch
"Success is not final; failure is not fatal: It is the courage to continue that counts."
– Winston Churchill
