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The entrepreneur's toolbox, continued ...Published: January 01, 2010
7. Don’t fear investing – but change your investment strategy.
Some want to wait to invest until there is more clarity in the market, but in truth, there is never clarity, says Collins.
“The
best opportunity is when it’s painful to invest,” she says. “It’s very
difficult to put more money into something that is declining.”
But that’s often the most opportune time. Collins’ other advice: Diversify your investments more under the “new normal.”
“Don’t
just put your money into stocks and bonds,” she says. “Consider other
options, such as commodities, real estate, even some hedge funds.”
But,
Collins says, there’s a reality that may be hard to accept: “Under the
‘new normal,’ set your expectations lower in both the stock market and
the bond market. You may have to be satisfied with what you might have
considered to be mediocre returns before.”
THE ENTREPRENEUR'S TOOLBOX
1. Learn to live with tighter credit – permanently.
2. Be aggressive.
3. Forget annual reviews.
4. Horde your cash.
5. Develop "what if?" business strategies.
6. Re-think personnel,
both at the hiring and the management strategies.
7. Don't fear investing – but change
your investment strategy.
8. Insist on dramatically improved customer service.
9. Narrow the economic picture to your field.
10. Think globally, not locally.
<<< BACK TO MAIN TOOLBOX PAGE
| The entrepreneur's toolbox, continued ...Published: January 01, 2010 |
7. Don’t fear investing – but change your investment strategy.
Some want to wait to invest until there is more clarity in the market, but in truth, there is never clarity, says Collins.
“The best opportunity is when it’s painful to invest,” she says. “It’s very difficult to put more money into something that is declining.”
But that’s often the most opportune time. Collins’ other advice: Diversify your investments more under the “new normal.”
“Don’t just put your money into stocks and bonds,” she says. “Consider other options, such as commodities, real estate, even some hedge funds.”
But, Collins says, there’s a reality that may be hard to accept: “Under the ‘new normal,’ set your expectations lower in both the stock market and the bond market. You may have to be satisfied with what you might have considered to be mediocre returns before.”
THE ENTREPRENEUR'S TOOLBOX
1. Learn to live with tighter credit – permanently.
2. Be aggressive.
3. Forget annual reviews.
4. Horde your cash.
5. Develop "what if?" business strategies.
6. Re-think personnel,
both at the hiring and the management strategies.
7. Don't fear investing – but change
your investment strategy.
8. Insist on dramatically improved customer service.
9. Narrow the economic picture to your field.
10. Think globally, not locally.
<<< BACK TO MAIN TOOLBOX PAGE
1. Learn to live with tighter credit – permanently.
2. Be aggressive.
3. Forget annual reviews.
4. Horde your cash.
5. Develop "what if?" business strategies.
6. Re-think personnel,
both at the hiring and the management strategies.
7. Don't fear investing – but change
your investment strategy.
8. Insist on dramatically improved customer service.
9. Narrow the economic picture to your field.
10. Think globally, not locally.
<<< BACK TO MAIN TOOLBOX PAGE
