I’ve been at this ”life activity” for about 2 years now and it has humbled me, to say the least
However, I must admit I do not regret it. I’m grateful I got to experience such a life changing opportunity.
and that’s because, I have learnt a lot of lessons on my entrepreneurship journey and made a lot of mistakes too.
One of the mistakes I made, really early, was to stop saving.
Yes, life happens when you dont have a steady source of income but deep down, I knew I was making a mistake I knew not to make.
When you’re at the early stage in building your business and not earning regular income, It will be tough to even think about setting something aside to save and I totally get that
However, as things balance out and your income becomes a bit more stable, dont continue making the mistake of not saving
You’ll stand the risk of getting cash strapped or being absolutely broke if anything happens to your business.
This week on the millennial investor series, I share 3 money mistakes you should avoid as an entrepreneur. This will help you gain an understanding of the following;
1. Why you need to save, even if it is a minimal amount, so you dont get cash strapped
2. Why you should avoid high risk investment options because your business is already a high risk investment option
3. Why you should avoid investing only in your industry
Great thing this also applies to full time professionals as well.
Some of the comments I have received so far since I uploaded this episode include
”Thanks Tomie, Listening to you is always a delight”
”I learnt not to put all my eggs in one basket after I started my first business last year.”
Click on the image to watch this week’s episode and don’t forget to leave your questions or comments in the comment section.