Last year is not going to be remembered as a banner year in the financial realm for most people. So what can be done to recoup the losses and get back on track financially? What investment typically provides both a high return and control? The answer is business ownership!
Business ownership is seen as the highest risk and therefore highest return investment commonly available. Rates of return for successful small businesses tend to range between 20 percent to 50 percent.
So how do you live with this higher level of risk? First, find a business that you have the skill sets to maintain or improve. Don’t be lured by high returns in businesses in which you have no expertise. Business earnings are not cast in concrete, but tend to be very connected to the quality of management. You’re better to find an underperforming business which you can grow than to invest in a highly profitable endeavor in which you have no background.
Continue Reading: “Get Back On Track By Starting Your Own Biz”
Photo by woodsy.