Common investing mistakes

Good day everyone in this wonderful community. How are you all doing? I trust you are all doing fine.
This is my first post in this wonderful community. I have a lot of business related topics to share with you guys. Today I'll be sharing with you guy 'Some common mistakes investors make and possible solutions'

In todays world literally everybody is into business In one way or the other, either directly or indirectly.
Young entrepreneurs are sprouting out by the day and they tend to make various kinds of mistakes while investing their hard earned money which may cost them a whole lot or in rare cases it'll cost them all their capital.
Today I'll be bring our attention to common investment mistakes and possible ways of avoiding them.
The list of investment mistakes is endless but I'll be discussing a few .

• Not getting started: This is a very common investment problem. It is the fear of making a loss in business.
  People tend forget that business is all about profit and losses. When this negative thought sets in, it makes people lackadaisical in making investment and therefore loosing out money you could have made from the investment

Source

• Not having a plan: we all know this wise saying "if you fail to plan then you plan to fail".
  This is also very applicable in the business world because if you don't have a plan of where you are going to you are most likely to end up somewhere else.
  This may lead to a mistake that is irrevocable leading to major financial losses.

• Expecting too much: One very important piece of information every investor and potential investor must have at heart is that 'building a lasting wealth takes time ,patience and dedication'. Investment is not rocket science or a get rich quick scheme.
  To thrive in the business world one has to adopt the slow and steady movement.
  Wanting to make quick cash at all cost is most likely going to end in disappointment.

• Lack of diversification: it is so unwise to be solely dependent on one stream of income or one way of doing something. Business wise it is also not good to put all our eggs in one basket because of unforseen circumstances.
  Peradventure things go south during the course of the business, one bad event can damage your entire financial future

• Trying to time the market: research has it that successfully timing the market is extremely difficult and requires a long of experience and most importantly luck.

• Waiting to get even: most investors most times allow greed get the best of them when making business related decisions.
  When some investors are obviously losing out in the market and they are supposed to sell off and make away with the little gain they have made but they are adamant and waiting for the market to come back to their favor. The market may probably continue to decline and they lose the profit they must have accumulated.

• Letting emotions rule: Emotions is the number one killer of any business
  Investors should not allow greed and fear to rule their business instead they should look at the bigger picture.
  Any investors moved by emotional and fear is most likely to lose out in the business market
  Investment returns over a short period of time is usually small but in the long run the return is plenty.
  Patient investors may benefit from irrational decisions of other investors.

Source

• When venturing in a totally new business that you are not sure of and is inexperienced in that field, it is only wise to start with a small amount that you can let go off if things don't go as planned.
  Then gradually build up on your initial small capital as you gain more confidence
• Plan is a necessity in business. It is like a risk checker. It helps us to know what we what at different stages of our business. This can be achieved by setting clear goals for our business
• In business we need to be realistic with our expectations by setting goals and targets that reflect our investment goals
• In business diversification is key.
  We need to multiply our streams of income into different sectors incase of unforseen circumstances.
• in business patience is vital.
  Buying and holding for a long term is your best bet. Don't get distracted by short term price change
  
  Thank you for patiently reading
  I believe this is very helpful to many of us
  I'll appreciate your honest reviews in the comment section. Thank you

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