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Finance tip: Investment 
Know your investment horizon, and don’t get caught up in day-to-day swings in your investments. Whenever many people read about how the market has dropped in a day, or how a particular stock of theirs has dipped slightly, their reaction is to panic and see how they can get out of that position. A good number of them sell or cash in their investments, and put the proceeds into another one that they feel has better prospects. Then, when that one dips somewhat, they go through the same process again. And again and again, always chasing that elusive big winner. This is a terrible way to invest.
It’s a symptom of people getting impatient, or over-anxious, and feeling that they can do better on their own if they take back control of their investments. There are three main problems with this: The first is that it’s impossible to beat the market every time – remember that there are investments professionals out there, who’ve dedicated their lives to studying the markets, and not even they can beat the market all the time. The second issue is that following this course of actions locks in your losses – you make the loss a real one when you sell up the investment, and forego the chance of making it back if you held onto it. The third problem is that every time you switch investments, there are inherent fees, charges and commissions to be paid – these eat away even more at the value of the investment and, over time, can have an enormous impact on its performance. Rather do your homework before you get into any specific investment. Know that the fundamentals are strong (solid business model, capable management, strong profit history, good future prospects, etc.); define how long you want to be invested for (your investment horizon – 10 years, retirement, etc.); and then leave it be. All investments will fluctuate up and down over time, but try and subdue the urge to react to the smallest changes, and let it do what it’s supposed to do over the given time period…
Business tip: Strategy/Mindset
Apply the entrepreneurial mindset in all aspects of your life. The most successful entrepreneurs are the ones who don’t let obstacles get in their way – they’re committed to a goal and are passionate, they are always open to new options or approaches, and think outside of the box whenever they’re faced with challenges. Using this mindset in your everyday life can bring about huge changes and benefits. One great example is the thousands of people every day who, when faced with a daunting task, say to themselves: “I can’t do this.” It could be red tape, a current lack of resources, no experience, or whatever the case may be. The entrepreneurial way, though, would be to ask “How can I do this?” This way, instead of your mind giving up and closing off, you’re kicking your subconscious into a higher gear, where it will work overtime in the background to come up with some possible solutions. Another way to live the ‘entrepreneurial mindset’ is to embrace challenges. These come up all the time, and can show you new opportunities, broaden your scope, or give you fresh insights into a problem. An everyday example would be getting stuck in traffic. Most people just sit there and accept their fate, destined to be unhappy behind the wheel. The entrepreneur, however, would relish the opportunity to try a different route home. He could find a faster route he can use in the future, drive past the premises of a potential customer he didn’t know existed, or see a sign or object that inspires a business idea. He embraced the opportunity to try something different, and was open to the possibilities presented. Truly a defining characteristic of the entrepreneurially-minded…
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