Hey what's up, it's Nathan Lucas. In this video I talk about
how to invest money as an entrepreneur.
I'll start by saying this is not expert financial advice. I'm no guru. I'm simply an entrepreneur who has experience on a journey and I'm sharing it with you.
With that being said, if you don't have any financial plans for your business, now is the time to start thinking about making a plan. If you find anything in this video helpful I do encourage you to adopt my methods if they seem like they'd work for you as well.
Starting with a job
Most entrepreneurs don't start off with a successful business. They usually start having a part time or full time job while working their business part time (or working your business full time if you're a hustler).
This is where we do two things...
No matter what situation you're in with your life, you should be thinking about your future. How do you prepare? Invest. Invest a percentage if your income into a portfolio that you will reap the benefits of later in life. This is really how you pay yourself first. It's really hard for most people to do because as humans, we want things NOW!
2. Invest into your business
Now, use some of your income to start a business. With so many business models and technology these days, you can start a business on a tight budget. More than likely if you go to the home page of this website, you'll see what I'm currently promoting for people to start as an online business.
When starting your business, you will most likely not be profitable right away, that's normal. So, you will need to have a plan to cover your business expenses; more than likely these will be covered by profit from your job. Awesome! But here's the goal, we want to get your business to the point where your business profits cover your business expenses instead of paying for these out of pocket.
Make really good money
If you want to make really good money in your business, here's what you need to do...
Reinvest business profits back into your business
Once your start making money inside your business you will have temptations to spend that money, trust me, but the best thing you can do for your business is to reinvest that money back into your business to create massive success.
Most people know of this method to grow their business, but in reality, when people see money hitting their bank account, they want to go out and spend it instead of reinvest it into their business.
I believe the fastest way you can grow your business and create massive success in your life is to take your profits and reinvest back into your business. Basic practice? Sure! Easy? I don't think so. Let's see how you do with some extra cash sitting around 🙂
I hope you got value from this. If you did, be sure to share it and drop me a comment below.
Social Media Mastery
Build A Professional Brand and Make Your First 5K Online