Why dare you just risk your money?

I recently talked to a (very) young man who has a successful one-man IT business. In spite of his young age, he has made savings of nearly tens of millions, a saving of over a year. (Of course, the business is not expected to do so well until the end of time, but potential seems to be there.)

He was not afraid of financial risks, he would have liked to put the whole amount in equities.

We talked about why you’re not developing your company


There is a demand for your products, your programs are very nice, you can’t take on any more work alone. He said he was not developing because he was afraid he would fail if he hired more people to just take the money and not bring it. If you are no longer alone, you have to rent an office and you have a lot of expenses, which may not pay off and the rest is risky.

I have not heard this argument for the first time, but I am still amazed.

Many are not afraid to risk all of their money on the stock market, where a 20% sustained fall can occur at any time, especially after a very long and too high rise.

On the other hand, they are afraid to invest in their own businesses, which they know (against the stock market) and can influence the processes (against the stock market), because the risk is so high.

I also asked the young man that if you are not afraid to say one-fifth of your money, for example, you can always drop tens of millions of dollars on the stock exchange, then why not try to risk the same tens of millions in your own business? If there is such a demand for its products, it is unlikely that it will pay to employ people. But if that were to happen, you could get out of the process at any time by keeping the processes in your hands as a business executive.

If, on the other hand, he comes in with venture capital, he is sure to bring him more than a stock investment. (Of course, that doesn’t mean you can’t invest in the stock market.)

Likewise, when diversifying your investments based on risk


It is very important to consider the risk of your revenue sources. For example, if you work in the construction industry, where companies are often unpaid, you should consider this when designing your portfolio.

That is, consider the risks not only of your assets but also of your resources when planning to build your portfolio. If your sources of income are riskier than average, then you should rather invest your financial assets in less than average risky things.

Don’t wait for the roast pigeon!

I talked to a couple in their thirties a few months ago, both of whom were unemployed. The guy spoke a European language at a professional level (interpreter, professional translator and the like, he thinks he is in the top ten of this language), and also speaks another language at a high level and is not bad at English.

He has been employed by a company before, but has also previously worked as an employee in language training for companies, interpreting embassies, translation companies, and has done just about anything that can be done with such a high level of language skills.

For eight months now he had been waiting to be picked up again for $ 220,000 (which he received in the last place).

I asked him two questions: Why do you want to be employed at all costs and in the meantime don’t do something to make money?

You can fit in your time and you can make (almost) free calls with VOIP, why not call companies and recommend yourself and your knowledge? Business language training, translation, interpretation and everything else you’ve done so far.

If you could give company training as an employee in another’s name, why not be able to do it yourself for four times as much money?

If you could translate professionally for others, why not do it for yourself?


I suggested that he first call domestic companies from the same language area (for example, in the case of German, Bosch, Siemens and others, there are a couple of German multi-home countries), then export or import companies and those who would surely not hire a a permanent French or Portuguese interpreter, for example, but they would have to be outsourced a few weeks a year if a visitor comes, or needs to be interpreted at an exhibition, or maybe translated. (Many companies supply their entire factory here in Europe, they are sure to have such seasonal jobs.)

I asked if you think you could find a job on 100 phones? He said he was. How much would you earn on such a connection in a year? He bet 500,000.

Then I asked if I would pay him $ 5 for every phone call, whether he could do business with me or send him to a warmer climate, would he do the job? To keep you from wondering, a call can last up to three minutes. Who would not want to earn 30-40 thousand HUF per hour?

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