JL MEMBER
About this Member

Amellia

Writer
22 Stories. 0 Comments. 475 Points.

Connect with Member
Amellia Hope lives in London and splits her time between professional writing and blogging, marketi...Read More

Website:

View Profile

Posts Comments Photos

Lifestyle
Why an Entrepreneurial Skillset Will Take You Far On the Financial Markets
By: Amellia   |    July 3, 2013   |   0 Comments (0) (0)

Successful entrepreneurship demands a special kind of person. One with all of the character traits needed to overcome challenges, and be the best. This skillset is one that can take you far in life, and is in fact, ideally suited to the world of financial trading. That’s not to suggest that you should divert your attention from dreams of business ownership, but lucrative markets are of course another potential avenue to take in the search for profits. In truth, many self-employed traders actually run their operations just as they would a business.

You can’t run a business without being comfortable with numbers, metrics and analysis. Operating costs and KPIs are just a couple of essential considerations when you’re a CEO, and if you can work with them effectively, then you’ll be able to work with the multitude of charts, numbers and equations that you’ll be faced with on the markets. You’ll have a lot of different tools to help you, and there aren’t always complex equations to deal with, but you still need to be capable of computing figures accurately; mistakes can cost you.

Learning all you can is massively important when you’re starting a company from scratch. You have to know the industry inside out if you’re going to be a success, and it’s no different with finance. This could well be an entirely new subject for you to learn, which could mean there is a huge amount you don’t yet know. If you’re the sort of person who quickly gets bored of learning new information, then the chances are that neither entrepreneurship nor the world of financial trading is for you.

Being disciplined is something often talked about when hours are long and commitment is huge. Emotions can run high when your own money is at stake, and this is certainly true in either scenario.  You have to be willing to go the extra mile, and stay that extra hour when you have your own business, but you also need to have the discipline to decide whether what you’re doing is right. With finance, you need to trade with your head, not your heart.

So, where can foreign exchange, commodity or stock trading really get you?

First off, you don’t have to be a full time day trader. You may well already have your own startup, and don’t want to divert all of your time and effort into something new. This doesn’t mean to say that you can’t take advantage of the markets. If you’ve got a spare ten minutes on the train, then you’ve got the time it takes to make open some short-term positions. There are a lot of people out there who trade on the site to generate extra money with capital that they aren’t currently using. It can be a lot more profitable than leaving it in a bank.

Of course, it may be that you decide that you want to combine your entrepreneurial spirit and your desire to be a financial trader. If this is the case, then you’ve actually got more options than you might think. You can hire more people, and run a capital management business, or you could even invest in new products, tools and services. There are a lot of potential avenues to explore.

Whether you’re looking for a way to raise extra capital, or you’re thinking about a new industry you want to get involved in, the world of financial trading could be what you’re looking for. Have you got the skills it takes to succeed?

You might like : Zappos' Tony Hsieh Wants Downtown Las Vegas to Be an Entrepreneur's 'Disneyland'

Share This

Related JustLuxe Articles:

Sign-In: Connect. Converse. Influence.

BEST OF LUXURY

Finding the best in luxury can be a daunting task, which is why we've taken it on for you.

Most Recent

Contributors

Members

BADGES The more active you are, the more rewards you earn!