This post will talk about identifying which individual you are. You can either be the investor or entrepreneur but do not worry, there is not a right or wrong answer and a chance you can be both. Before we jump in, we must first understand that no human being is the same. We all have different situations and some maybe better or worse than others. So never compare your progression to someone else’s success, focus on you and your path.
Now, let us define both identities first. An investor is a person who commits money (aka Capital) with the expectation of receiving financial returns. Investing relies in different types of investments like stocks, commodities, and a retirement plan. An entrepreneur is a person who CREATES a business, bearing most of the risks and enjoying most of the rewards. In all, you do not even need to create a new product or service, but just with a small change and marketing, you can start a business.
The reason you are identifying which identity you are now, allows for you to pick a direction that best fits you and your personality. If you are in a situation that does not allow for you to go out and start working hard labor, or being an entrepreneur then investing can be best for you. However, if you are one who is great with your hands and mind then you can start a business, and still invest.
Let’s say you are in a situation to be an “investor”, but you are 15 and not sure what you can do. You can start reading! Of course, there are books that I recommended, but you also have the internet to explore. At your age, you have time on your side, so Exchange Traded Funds (ETFs) and mutual funds will be your best play. We will get more into what types investments you can do, but as of now we want to identify which persona fits you best. Because while you are reading you still need to make some money and we will talk about that later.
The entrepreneur, this is the identity that will take more time and energy to perform. When I was 9-11 I started earning money by cutting yards during the winter and washing cars in the summer. That was back in the early 90s so times have changed as the internet is now your best business partner. My point is, I used what I had around me to earn money, and this goes back to our individual situations. Of course, when I was that age and making money, instead of investing it, I just bought candy and junk and that’s why we developed this website in honor of “little 90s Ray”. You will have to look around your environment and see where you can get the people around you to give you a dollar. That can be collecting cans, washing cars / dogs, walking dogs etc.
Now we have identified which persona you are, its time to start making some money to invest, either your business or investments.
Remember, you can do this! You are already taking the right steps. Be patient and in time you will start seeing some money come in.