Any Safe Bets?

Discussion in 'Starting a Business' started by Redd, Sep 19, 2015.

  1. Redd

    Redd
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    The fear of losing all or most of the money they invest in a venture is one reason why most people who think of starting business don't. Why would they take the risk and probably lose all their money when it could be earning a little interest in a savings account?

    What business would be a safe bet for someone like this even if it doesn't promise good returns [on investment]?
     
  2. Corzhens

    Corzhens
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    I belong to that category - afraid to take a risk with the investment. When I was younger and not so busy with work, I would get some signature clothes that I sell on a concession basis. It's like being an agent for the boutique that gives me 2 bags of clothes to sell. There's no investment involved so there's no risk of loss. I return the leftover clothes and pay for the ones that were sold. It's good business because clothes are easy to sell in the office.
     
  3. CashAware

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    The first thing about investment is to do budgetting. Much like any business management in fact. You invest a budget, you limit that budget, and if it ever goes outside of the budget, you stop the business so you are not going to loose your whole life because of a mistake, even if you may have loosed many money. But to loose many money, it involves bad management somehow, annyway, because otherwise someone more wise in business could be interest to buy your company and cover part of the losses.

    The budget you invest at start and the limiting budget should not be the same, you should plan some margin, extra expenses or maybe extra benefits if you are lucky.
    Once budgetting is done, if you want to do investment, you only choose a *part* of the earnings for investing again. The rest should be in security, like in a "not-so-profitable" savings account.

    Don't forget, safe bets with high returns of interest doesn't exists. If you just want few money, stay on your savings account. If you are really wanting money, you are going to take risk, that's the game.
     

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