For entrepreneurs with a lot of money, investments can often be negligible in comparison to their profits. However, every good business man or woman will know never to carelessly invest – money makes money, and so you should carefully consider what you do with every penny of yours.
The hardest part of investing currently, is finding something to invest in that is worth your time and money, so here are some options for what’s worth investing in now.
Bitcoin & online currency
A long time ago, bitcoin was not a household phrase. Most people who mentioned it would probably be met with a look of confusion, but, now we know that those people will be some of the luckiest people in the world if they invested, as since 2010, the price of bitcoin has sprung up from a fraction of a dollar, to around 18,000 dollars.
Currently, bitcoin price is still on a healthy upwards trajectory, but to avoid the risk of current investors bailing and there being a huge crash, other, newer online currencies might be the way forwards when it comes to investing your money. “Bitcoin Cash” for example, has recently been put on coinbase, the largest trading website at the moment, and should go up quite a lot over the coming weeks. However, there has been a small scandal over it due to alleged insider trading, so always make sure to research the currencies before you decide to invest.
Further education & training
A much smaller, but a very smart investment idea, especially if you own a large business, would be to invest in yourself. What I mean by that is, investing in your employees’ future and education. Paying for your employees to receive better qualifications and more experience will in turn, boost you and your company, so it can be considered a personal investment.
One flaw you might see with this idea is that if your employees are spending time in education, they won’t be able to continue working normal hours at your company. This is why courses such as an online MBA would be appropriate, since your employees would be able to continue work as usual whilst studying through a live online platform in their spare time. This could also be an opportunity for you to take on apprentices and expand your business that way.
Major league sports
Investing in major league sports is very popular right now within the richest bracket of entrepreneurs. Buying a sports team may seem like an outlandish, and very expensive investment to make, but these investments are gold mines for entrepreneurs, as large teams make larger returns. Jimmy Haslam for example, bought the Cleveland Browns for $1billion in 2012, and within four years had made almost $850 million from his investment.
Investment in promising start-ups
Finally, this is an old but classic investment method. For entrepreneurs passionate about great businesses, it’s best to follow your instinct and invest in small start-ups that show promise. There’s not much advice I’ll give here, as any established entrepreneur will have the business sense to decide which businesses will thrive with a little extra investment, and many investments will be very personal to the investors experience.
The only point I will make, is that anything that’s not technology based or digital is becoming quickly outdated, so keep future developments in mind when making investments.