Most people make small investments in the hope of making a profit but, you can make it a career. Here’s how to become an investor and make it a full-time job.
While it might seem like you have to start off with a lot of money when you become an investor, you could start off with as little as $1,000. If you want to figure out how to become an investor as a full-time job, you’re in for a fun and rewarding future. Instead of setting your sights on making a little bit of profit, you could be doing it for the rest of your life.
Here are five ways to make investing your full-time job.
5 Ways to Become an Investor
1. Do Your Research
Before you take the leap to become an investor full time, you should look into what it takes and what to expect. Search for stories of other investors and see which might be willing to mentor you. By speaking with successful investors, you could learn a lot and avoid common mistakes that new investors make.
Because you’ve had a successful run with your investments, if you know anything, you should know that markets go up and down. If you don’t do your research in advance, you won’t know what to do when markets tank.
You also need to know what to do when your investments are climbing. In this way, you can get a certain high when your investments are doing well which will lead you to make reckless decisions or rookie mistakes. You need to make sure that you use growth to expand and diversify, not to silo your investments into a narrow stream.
Research will give you an idea as to what to look for and what happens before explosive growth.
There are few sure things on the market but there are patterns that you can look for. By taking some time to learn about the history of successful investors, you’ll learn how to repeat their successes and avoid their follies.
Read Also: Financial Research Has a Huge Impact on Marketing
2. Make a Business Plan
Every business needs a plan. Most businesses start off in a deficit or with a limited amount of funds. Setting up a few good habits will put you on the right foot as you work to grow your business out.
You need to make sure that you’re managing your funds along the way. If you can’t afford an accountant, you should hire a virtual assistant or set up accounting software to manage funds. If you decide to open an office, hire staff, or create a payout system for clients, you need to have a way to balance your funds.
You also need to have goals for how large you’d like to grow. Do you plan to start investing on your own or do you want to have a large staff? Do you plan to fund yourself or will you need investors to buy in for a share of your company?
A business plan can help you make difficult decisions as your business grows and changes. If you have a goal to guide your decision making, you can look at any potential challenges through a prism and whether that decision will get you where you need to go.
3. Carve Out a Niche
Every company will have a niche that it fits in to. Even an investment company, which might seem like it would be agnostic, will have a specialty. Some companies will invest in minerals, other in the tech industry, then others in natural gas and energy.
Some people have ethical concerns about the production process of some goods and will want to avoid certain industries. Other investors might be earth-conscious and will want to invest more in sustainable brands or green technology than in fossil fuels.
No matter what your personality is, you need to find an investment path that interests you. If you get out of bed in the morning unmotivated about the investments that you’re making, you’re not going to see the growth that you want to see.
When you take the time to carve out your own niche, you can also avoid competition. There are millions of people already working and dominating the world of gas and energy. If you can become an expert in an underrepresented industry, you could make a lot of for money with very little competition.
4. Look For Clients
When you’re trying to grow your professional investment group, you’ll hit a glass ceiling without an adequate number of clients. You need more money than your own to build your investments. Once you’ve shown a strong history with a few good trades and smart investments, you’ll be able to convince clients to invest more.
In the investment world, word of mouth is essential. Make sure that you’re always giving your clients and customers good service and listening to what they want. If they’re making choices that would put their wealth or growth potential in jeopardy, steering them clear will earn their trust.
A few clients who you’ve treated with respect will yield more clients and allow you to expand your offerings. The larger your investment company’s portfolio is, the wider the range of services you can offer to clients.
5. Make Some Allies
It’s important to make friends and allies in the world of investment. As Joan Rivers once said, “you see all the same people on the way up as you see on the way down”.
Treat people respectfully when you work with them. You never know when you could end up seeing them again. If you decide to expand your company, you might want to pair up with some talented investors in your region later on.
Put together a money map and you might find that you’ll see a lot of familiar faces over your years of investing.
If you’ve built your niche, you could get referrals from other investment specialists. Later you can send other clients back their way if they specialize in something you’re not familiar with.
Learning How To Become An Investor is Fun
While learning how to do a lot of things can be a struggle, learning how to become an investor for a living is an exciting journey. You’ll learn all about finance, the direction of industries and how to generate wealth.
If you find yourself creating a large working environment with a lot of staff, check out our guide to making the environment fun and engaging.
- 50+ Highest Paying Jobs in the World 2018
- Small Budget Investing: How to Start Investing With Little Money
- 6 Common Investment Mistakes You Need to Avoid
Author: Cathy Carter