Topic: Ignore this Classic Business Law or Follow Your Instincts? (Read 628 times)
I think what the Keynote speaker said was true. my assumption. He juxtaposed with experience, data and facts that he had seen and noticed. yes. it takes courage to know how to make money and be ready to lose in the first cluster if indeed our intention is total. Combine the two. To ignore the Classical Business Laws, of course not, but pairing it with our investment instincts feels better.
In doing a business of course, we must know how to do the business, even though we already know that doing business in that case will definitely be profitable but we don't know how so never to join first, then first look for seniors and ask how to invest in the business if we already understand then we spend capital to invest, Because not all investments will always be profitable and some can also get losses if we don't know how to do something needed, so if I listen more to the thoughts of others who are experienced and rarely follow instincts.
It is true that taking advice from those with relative experience will surely help in establishing a business and ensuring that it will do good and profitable. However, I also believe that there are instances that we can use our instincts. Sometimes there are situations that requires for us to read the situation and follow what we feel. For example, it taking advice, it is better if we at least touch on our instinct if we can trust the person that is giving an advice to us or not since following something with a negative feeling will surely result to an unsatisfying feeling.
I attended a business seminar where a facilitator a renowned professor, and Entrepreneur shared a story on how he missed out on investing in a small fintech start two years ago which as at today is worth $500 million. He said the team had approached him to make an a investment in the start but because he did not understand how the were going to make money since he didn't invest the $100k he wanted to write them. Today, he would have been $7.5million richer had he invested.
They say do not invest in what you do not understand which was largely the principle the speaker adhered to but what if despite not immediately understanding the business model and its profit making model yet your business instinct pushing you to invest. What should you do? Listen to the former or follow your instincts?
The thing is this quote is heavily butchered and tattered at least in my opinion. For me it's "Do not invest on what you do not know, but always leave some for risk tolerance". Sometimes and I mean this cause this has happened one too many times in the past, the most in-the-dark and unknown ventures are the ones that bring you the most profits. And if no one ever took risk in this industry there'd be no successful people at all. So while it's always smart to do your research and understand the ins-and-outs of the business venture you're being told of, it's sometimes much more essential to actually just take the bait and wish for the best. Fortune favors the brave after all, so why always chicken out and cover it with "I didn't know how they'd make money". They say do not invest in what you do not understand which was largely the principle the speaker adhered to but what if despite not immediately understanding the business model and its profit making model yet your business instinct pushing you to invest. What should you do? Listen to the former or follow your instincts?
I'm not saying you should stop thinking at all when making business and financial decisions. Just saying that sometimes, you gotta leave something to chance.
If we are accustomed to business, it can be said that the theory in building a business is almost useless, with deep experience, we can more easily manage the business, unfortunately many people are afraid to start the business for fear of losing or bankrupt.
It's a good thing to have that fear because if you don't, you will waste a lot of money by trying a bunch of different businesses without putting proper effort and working hard on a single venture, when you have yourself involved in almost everything, you will most likely get success in none of them, the best way is to start a single business and keep working on that, if you know you have enough resources and can work hard on your business, it will become successful eventually.People who have no fear of losing or going bankrupt tend to waste a lot of money which they shouldn't, you can always see, only the businessmen who have their hands in a single industry are successful in that particular business, but those who try having more and more businesses tend to get less success in comparison to them.
I attended a business seminar where a facilitator a renowned professor, and Entrepreneur shared a story on how he missed out on investing in a small fintech start two years ago which as at today is worth $500 million. He said the team had approached him to make an a investment in the start but because he did not understand how the were going to make money since he didn't invest the $100k he wanted to write them. Today, he would have been $7.5million richer had he invested.
They say do not invest in what you do not understand which was largely the principle the speaker adhered to but what if despite not immediately understanding the business model and its profit making model yet your business instinct pushing you to invest. What should you do? Listen to the former or follow your instincts?
The thing is this quote is heavily butchered and tattered at least in my opinion. For me it's "Do not invest on what you do not know, but always leave some for risk tolerance". Sometimes and I mean this cause this has happened one too many times in the past, the most in-the-dark and unknown ventures are the ones that bring you the most profits. And if no one ever took risk in this industry there'd be no successful people at all. So while it's always smart to do your research and understand the ins-and-outs of the business venture you're being told of, it's sometimes much more essential to actually just take the bait and wish for the best. Fortune favors the brave after all, so why always chicken out and cover it with "I didn't know how they'd make money". They say do not invest in what you do not understand which was largely the principle the speaker adhered to but what if despite not immediately understanding the business model and its profit making model yet your business instinct pushing you to invest. What should you do? Listen to the former or follow your instincts?
I'm not saying you should stop thinking at all when making business and financial decisions. Just saying that sometimes, you gotta leave something to chance.
If we are accustomed to business, it can be said that the theory in building a business is almost useless, with deep experience, we can more easily manage the business, unfortunately many people are afraid to start the business for fear of losing or bankrupt.
Ignoring theory is also not good if someone wants to start a business better, because business theory is also prepared by people who have experienced going through the business field and still run more businesses in their life. So in general, business theory is still very much needed by those who are just starting out, especially if someone doesn't have more experience in any business field in the past.
Indeed, for those who are used to doing business for a long time, it is clear that they no longer need excessive theory to keep running their business. But in terms of any business theory, it is still very useful for those who have never tried it, so it's not surprising that some people who don't have any knowledge and experience in the field of business still don't dare to try it for fear of loss and bankruptcy, as you said.
knowledge and instincts both play an important role in one success and I think a person should first learn and get knowledge after that he should utilize his instincts which will double his chances of winning and making profit.
I think if you have zero knowledge then you cannot utilze your skills like if you move towards bitcoin investment and don't known what is it and why people are buying it so in this situation following instincts will also be not possible to make you profitable so in my opinion both are necessary.
Getting complete knowledge is crucial as one without knowledge is blind and he cannot make accurate decision which will cause him to move towards wrong path which will lead him to face problems.
I think if you have zero knowledge then you cannot utilze your skills like if you move towards bitcoin investment and don't known what is it and why people are buying it so in this situation following instincts will also be not possible to make you profitable so in my opinion both are necessary.
Getting complete knowledge is crucial as one without knowledge is blind and he cannot make accurate decision which will cause him to move towards wrong path which will lead him to face problems.
They say that beginners are lucky. Beginners act mainly on intuition. Then knowledge, caution and slowness come into play. So from time to time, instincts based on intuition prove to be more important than knowledge, which is often dulled. And intuition works well for many people.
knowledge and instincts both play an important role in one success and I think a person should first learn and get knowledge after that he should utilize his instincts which will double his chances of winning and making profit.
I think if you have zero knowledge then you cannot utilze your skills like if you move towards bitcoin investment and don't known what is it and why people are buying it so in this situation following instincts will also be not possible to make you profitable so in my opinion both are necessary.
Getting complete knowledge is crucial as one without knowledge is blind and he cannot make accurate decision which will cause him to move towards wrong path which will lead him to face problems.
I think if you have zero knowledge then you cannot utilze your skills like if you move towards bitcoin investment and don't known what is it and why people are buying it so in this situation following instincts will also be not possible to make you profitable so in my opinion both are necessary.
Getting complete knowledge is crucial as one without knowledge is blind and he cannot make accurate decision which will cause him to move towards wrong path which will lead him to face problems.
If we are accustomed to business, it can be said that the theory in building a business is almost useless, with deep experience, we can more easily manage the business, unfortunately many people are afraid to start the business for fear of losing or bankrupt.
Do you know how many startup companies that come up with failure after few years of investment? He followed his mind and this happened, something that doesn't happen every time to time so if I am in is shoe I won't regret a bit, because it's not the end of yne world.
I will always prefer to understand something before investing my money, because at least I will know what to expect, I can't imagine investing money on something I don't know anything about or something I can't understand even when I tried to understand.
I respect his decision and I will do the same if I found myself in such decisions making state.
I agree that it is going to be a big deal before we could end up investing into something, but then becomes a lot easier after we do it, the first starting point is always the hardest for many people. This gets a lot easier if you end up learning what you are investing into, because if you know what you are investing into then you are going to be able to invest a lot easier as well. This is just how the business world works and you should be able to do something that's a lot better.I will always prefer to understand something before investing my money, because at least I will know what to expect, I can't imagine investing money on something I don't know anything about or something I can't understand even when I tried to understand.
I respect his decision and I will do the same if I found myself in such decisions making state.
I hope that it gets to a point where we need to end up with knowing so much that we end up investing without worry, for example Bitcoin is like that for me and I can invest very easily without worrying about it and the rest is just easy stuff for me that's it.
In the business world, it always makes us tempted by the benefits we can generate, but without knowing how to do a business, never try to follow your instincts, because the risk is very big in the business world, especially in investing, so listen to other people's opinions before participating in a business because all have ways so that we can achieve every profit.
Instinct is not always right and can even be misleading if it is based on the desire for big returns so easily without having to work hard. See how easily many investors lost their money on ponzi projects or investments in the past, it was also because they followed their instincts to expect easy returns.
One that is recommended before investing is to study what your investment assets. One should not invest in crypto if they don't know what crypto is and how the market works and know what its huge potential is in the long term. Investments are promising, but not all of these investments will bring them the expected returns in the short or long term.
It is always difficult to know beforehand how much knowledge is the minimum necessary to become an investor on a particular market, after all if you knew that information then most likely your knowledge of that market will be higher than the basic amount of knowledge necessary anyway.One that is recommended before investing is to study what your investment assets. One should not invest in crypto if they don't know what crypto is and how the market works and know what its huge potential is in the long term. Investments are promising, but not all of these investments will bring them the expected returns in the short or long term.
With that being said, we must remember that all markets are full of pitfalls, and the market of cryptocurrencies is not an exception and if anything is probably one of the most dangerous markets for newbies, as the ratio of good coins versus shitcoins is awfully low.
In doing a business of course, we must know how to do the business, even though we already know that doing business in that case will definitely be profitable but we don't know how so never to join first, then first look for seniors and ask how to invest in the business if we already understand then we spend capital to invest, Because not all investments will always be profitable and some can also get losses if we don't know how to do something needed, so if I listen more to the thoughts of others who are experienced and rarely follow instincts.
I attended a business seminar where a facilitator a renowned professor, and Entrepreneur shared a story on how he missed out on investing in a small fintech start two years ago which as at today is worth $500 million. He said the team had approached him to make an a investment in the start but because he did not understand how the were going to make money since he didn't invest the $100k he wanted to write them. Today, he would have been $7.5million richer had he invested.
They say do not invest in what you do not understand which was largely the principle the speaker adhered to but what if despite not immediately understanding the business model and its profit making model yet your business instinct pushing you to invest. What should you do? Listen to the former or follow your instincts?
Do you know how many startup companies that come up with failure after few years of investment? He followed his mind and this happened, something that doesn't happen every time to time so if I am in is shoe I won't regret a bit, because it's not the end of yne world.They say do not invest in what you do not understand which was largely the principle the speaker adhered to but what if despite not immediately understanding the business model and its profit making model yet your business instinct pushing you to invest. What should you do? Listen to the former or follow your instincts?
I will always prefer to understand something before investing my money, because at least I will know what to expect, I can't imagine investing money on something I don't know anything about or something I can't understand even when I tried to understand.
I respect his decision and I will do the same if I found myself in such decisions making state.
Instinct is not always right and can even be misleading if it is based on the desire for big returns so easily without having to work hard. See how easily many investors lost their money on ponzi projects or investments in the past, it was also because they followed their instincts to expect easy returns.
One that is recommended before investing is to study what your investment assets. One should not invest in crypto if they don't know what crypto is and how the market works and know what its huge potential is in the long term. Investments are promising, but not all of these investments will bring them the expected returns in the short or long term.
It is always difficult to know beforehand how much knowledge is the minimum necessary to become an investor on a particular market, after all if you knew that information then most likely your knowledge of that market will be higher than the basic amount of knowledge necessary anyway.One that is recommended before investing is to study what your investment assets. One should not invest in crypto if they don't know what crypto is and how the market works and know what its huge potential is in the long term. Investments are promising, but not all of these investments will bring them the expected returns in the short or long term.
With that being said, we must remember that all markets are full of pitfalls, and the market of cryptocurrencies is not an exception and if anything is probably one of the most dangerous markets for newbies, as the ratio of good coins versus shitcoins is awfully low.
They say do not invest in what you do not understand which was largely the principle the speaker adhered to
That's right - I agree with his mindset.but what if despite not immediately understanding the business model and its profit making model yet your business instinct pushing you to invest. What should you do? Listen to the former or follow your instincts?
Don't rush - you'll need to invest a bit of your time learning it rather than investing your money right away. The right course of action is that you need to learn and you need to know the ins and outs of the asset or project you want to invest in. Do your research and analysis - isn't that what always the experienced speakers on bitcointalk advise?Following your instincts without knowing what prospects you will get from a project or an asset that you do not know about is gambling. You expect absolute gain without knowing how it works and what it's used for - it's the same as throwing money at the lottery without knowing exactly what number it will come out.
I attended a business seminar where a facilitator a renowned professor, and Entrepreneur shared a story on how he missed out on investing in a small fintech start two years ago which as at today is worth $500 million. He said the team had approached him to make an a investment in the start but because he did not understand how the were going to make money since he didn't invest the $100k he wanted to write them. Today, he would have been $7.5million richer had he invested.
They say do not invest in what you do not understand which was largely the principle the speaker adhered to but what if despite not immediately understanding the business model and its profit making model yet your business instinct pushing you to invest. What should you do? Listen to the former or follow your instincts?
Still follow your own risk assessment. They say do not invest in what you do not understand which was largely the principle the speaker adhered to but what if despite not immediately understanding the business model and its profit making model yet your business instinct pushing you to invest. What should you do? Listen to the former or follow your instincts?
Even if you don't know yet the business model and how it's going to make profit, study and give yourself maybe a few couple of days to a week or two before you decide to invest your money on it.
You're not required to gamble everything and you still need to make analysis before you'll fully entrust your money to any investment, whether in crypto or startups.
there's no harm in understanding the project you want to venture with. because no one will do it for you but yourself. as it is your hard-earned money, you need to make sure that you have enough knowledge what you're getting into.
if you are not sure about your step, why not use some of your money and not go all in? at least you have other funds to invest in other assets.
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Sometimes it's true but don't completely trust your instincts because it's not completely true and you have to trust it, so I think there should be a balance between instinct and also some knowledge before investing.if you only rely on instinct in investing then it's the same as we just hope for luck, the success rate will be very small so I think it's better to balance it.
One that is recommended before investing is to study what your investment assets. One should not invest in crypto if they don't know what crypto is and how the market works and know what its huge potential is in the long term. Investments are promising, but not all of these investments will bring them the expected returns in the short or long term.
but its true that it wont really be that ideal nor wise on making yourself that way too relying with this kind of approach on things that you've been dealing.Yes, it might give out that kind of
opportunity on which it would give out that kind of good result but nothing beats out if you do go along with those basic concept business law or ideas which are really that good to follow on.
Im aint saying that following your instincts are bad but it would be more wiser if you do go with the basic steps and concept which are really that intended on this kind of field.
You wont really be making that huge risks just because of having that sudden feeling or doubts on what you are dealing with.It would be a gamble on altering your decisions on something like this.
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Sometimes it's true but don't completely trust your instincts because it's not completely true and you have to trust it, so I think there should be a balance between instinct and also some knowledge before investing.if you only rely on instinct in investing then it's the same as we just hope for luck, the success rate will be very small so I think it's better to balance it.
One that is recommended before investing is to study what your investment assets. One should not invest in crypto if they don't know what crypto is and how the market works and know what its huge potential is in the long term. Investments are promising, but not all of these investments will bring them the expected returns in the short or long term.
I attended a business seminar where a facilitator a renowned professor, and Entrepreneur shared a story on how he missed out on investing in a small fintech start two years ago which as at today is worth $500 million. He said the team had approached him to make an a investment in the start but because he did not understand how the were going to make money since he didn't invest the $100k he wanted to write them. Today, he would have been $7.5million richer had he invested.
They say do not invest in what you do not understand which was largely the principle the speaker adhered to but what if despite not immediately understanding the business model and its profit making model yet your business instinct pushing you to invest. What should you do? Listen to the former or follow your instincts?
They say do not invest in what you do not understand which was largely the principle the speaker adhered to but what if despite not immediately understanding the business model and its profit making model yet your business instinct pushing you to invest. What should you do? Listen to the former or follow your instincts?
It is the dilemma of any person who entered the world of investments.
If someone have talented to investor, instinct, they sometimes won, but sometimes they are losers, that is simply it.
Throughout history there are cases, in the past, for example Coca-Cola, in the present the list is also long, e.g. Uber... those who believed and invested, won, without the need to understand them.
Then, OP, that "premise" that you mention "... uncertain about things you don't understand, blah, blah,..." is a theory from the investment school, but the real world is something else.
The issue here was not the 7.5 million profit, it was the $100k investment, he did not have $10k left over, since he would have earned $750,000.
It is cheap speech in the world of investments, always say: "... if you had invested..."
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