To hear Benita Tyler read this article, click on the arrow.
As autumn settles in I am somewhat reluctant to see summer go. This year I was inspired to take up gardening and learned a lot more than anticipated while watching it progress. Being a first time gardener I noted everything from seedtime to harvest including planting, watering, and how the soil and sun's nutrients help seeds grow. Just like seeds, money must be planted in a well cultivated ground by taking out whatever prohibits its growth. In investing, cultivation might include eliminating poor performing stocks, real estate, and divisions within companies.
One way to do this is to be like a gardener who plans the garden, prepares ground, and finds the right mix of seeds in season. This can be done very easily by following three simple steps.
1. Have a plan for growth. Are you investing to reach short, medium, or long term goals? How will this opportunity contribute to your overall plan? If this is your first time with this type of investment talk to someone who can lend the experience that you need. Based on what you learn, does the investment still show evidence of producing the results you hope to achieve? Or, are you planting lemons when you really intend to grow squash?
2. Understand the nature of the investment. Consider how it works in combination with your current investments. What are you growing now and how well does this opportunity align with the others in your portfolio? What time, talent, and resources does the investment require in order to yield its fullest potential?
3. Assess your resources. What will it take to produce your harvest (gains/profits)? Do you have access to those resources? Will you have time to monitor growth or will you need to appoint someone else for the job?
Through gardening I found that money is similar to seeds in a package. It does not matter if it is left in your wallet or in the bank, if you keep it wrapped up it is unreasonable to expect it to produce anything. Use these steps to help in planning a good investment strategy that produce gains and profits consistently throughout the year. Finally, remember in order to reap a harvest you must plant in fertile ground and have the appropriate resources to maintain it.
For more advice on growing your business, visit us online at www.tbsusa.com. And take a look at my blog where you can also subscribe to my tips for women in business.
Comments