#1: Bought penny stocks
Hey, I really did think this would tip me over the edge of success. And it sure did look good for a while. Until the whole thing just went belly up! And I was left looking like an idiot!
#2: Didn’t invest in myself
I used to laugh at all the self-help and improvement programs out there. Little did I know, I was making an idiotic mistake. I should have bought myself a few programs and worked on my own improvement. Winging it is NOT an option!
#3: Starting failing businesses
Now I don’t mean I did this on purpose. But my stupidity lay in the fact that I wanted to get rich quickly so I didn’t spend enough time or research to take the businesses off the ground. I did the quick and dirty thing and it majorly backfired.
#4: Didn’t focus on what worked
When something started to work out for me, I stopped focusing on it. I know that sounds lame, but it’s what happened! I should’ve put money behind the major investments that were working out.
#5: Didn’t keep liquid cash
I froze up almost all of my assets in the bank and didn’t keep enough cash on hand. You never know when times are rough, you need that liquid cash. So don’t be like: always keep a million in cash on hand!
#6: Not utilizing business credit to get cash back
I spent tons of money on different aspects for my business. There were various expenses like contracting, traders and much more. But I didn’t count on the cash back prospects until my dad pointed out how stupid I was being!
CEO/Jack of all trades master of none! The Daily SEM
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