Wednesday, October 7, 2009

Two Secrets of Business Success- Types of Assets

Getting right to it, because Entrepreneur Chick is blowin' this pop stand in a moment- the four types of assets are as follows:

(1) Businesses
(2) Real Estate
(3) Investments
(4) Bootleg whiskey- Just making sure you're paying attention.

Actually, and I won't name names, but bootleg whiskey proved to be quite a profitable venture for a certain well known family in America; however, the whiskey would still fall under the category of "business".

As for me, I gravitate to business because I understand it better, can control it more, can do what I want with it, and because I love to promote and sell- it's a better fit for me personally.

That's not to say I should be off the hook regarding investing. Right now, a good deal of my cash flow goes not into investments, but into my companies- as, again, I understand it better and I also know where my rate of return is far more predictably.

But, as I said- that's just me. Real estate might completely float your boat. My father owned some real estate. He had a good plan, but not a large vision with his real estate investing. I believe he could have done better and I wish he was around today so we could discuss all this.

What type of assets do you like?

(For some stupid reason I can hear Ludacris and T-Pain going.. "What kinda asses do we like?" And then, of course, Sir Mixalot chimes in... "I like big butts and I can not lie..." and then Ludacris and T-Pain, thoroughly annoyed say, "Yo, dawg. SHUT UP! This ain't the 90's up in here.")

9 comments:

  1. OK, I been spending months trying to learn this stuff .... you know, "The One Minute Millionaire" and all that. But I still don't have any assets. I'm still trying to figure out how to get started with that. I absolutely have plenty of liabilities, but let's not talk about that.
    I don't think business is the one for me. Investment? What does that mean? There's got to be something for a poor little english girl to get her teeth into? help.

    www.everydaywitch.com

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  2. Asses are coming up a lot today. Literally. The Bearded One's rambling for today included a fine shot of "a swan's arse."

    Thanks for this post. For me, it's definitely business - more creativity involved, more meaningful interaction with others. Although, buying, fixing up, and selling old houses would be fun too. But I'd want to keep them all.

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  3. You make it very clear; you prefer to run your
    businesses (companies) and you invest your money in them. You feel that this is the best for you, better than investing and dealing with real estate.

    If it works for you well, then kudos to you. You seem to be a successful businesswoman and you have my admiration for that.

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  4. Sam,

    It all begins with asking good questions. Those are very good questions!

    Do you remember the "morning pages" from the Artist's Way?

    When I started those pages, my whole life began changing.

    Writing showed me: ooookay... this is a problem isn't it? What are some of the ways I should fix the problem? I kept writing. More ideas started coming.

    I'd be glad to help you! Drop me an email.

    entrepreneurchickrulz@gmail.com

    Frankly, I think that darling accent I know you have should be enough! I'd pay ya to listen. lol

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  5. Polly,

    I read him too! He's great. I got up too early and actually missed the swan post but will go back and take a look.

    Yes. I can see how you'd gravitate to business. AND btw, this is so funny- meant to tell you...

    While I was having lunch after I read your email, I began thinking of a name for your enterprise. YOU ALREADY SELECTED THE SAME NAME AS I DID!

    So, naturally, I love it. Heh, heh.

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  6. Duta,

    You are always so gracious. Thank you.

    All I can think about is that lake in Siberia! I talk about your blog all the time to Tony.

    "Hey, I need to go to this lake in Siberia."
    (Because not only is it so famous, I can just imagine all those fish down there. Gemme those fish!)
    "Whaaaa?"
    "No. Listen. Places with Character- come look at this blog-"

    I always learn something from you- and for that, I thank you!

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  7. Samantha:

    I highly recommend you read the Rich Dad Poor Dad series of books. The answers to the questions you ask are contained in those books.

    Dad

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  8. Dad,

    You beat me to it! I was going to say that to her in an email- but hey- you are right on! Amen and pass the plate~

    My very favorite is: "Cash Flow Quadrant". Excellent.

    What kind of business are you going into?

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  9. This is nice. I learned something new here. Something not mentioned in schools that is.
    llc

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