THE TRAGEDY OF NO TRACTION and ACTUAL TRAGEDY
The title of this series states that I am attempting to build an alternative investments start-up.
Here’s a little more about that… Most entrepreneurs attempt to create a business, product or service that is personally relevant and actually addresses problems or needs that they personally deal with. My problem has been that I’ve always had a fascination with investments, wealth creation, ROI, etc but I’ve been unable to participate in this arena primarily due to the fact that I am not an accredited investor. Long story short, I have studied family offices, wealth management and things like this to learn and understand how the wealthy build and grow their wealth. My next practical step was to attempt to implement some of those same strategies and concepts into my own personal finance.
Unfortunately, I’ve discovered that a person of my net worth cannot easily engage in real estate investing, angel investing, and other investment activities. My investing activities are primarily limited to the stock market (sad face). All that to say, when I was given this idea that can and will potentially provide non-accredited investors (us common folk) with opportunities to invest like accredited investors (the not so common folk), I thought those who were financially literate would beat down the doors for my services. Well, they haven’t… yet… maybe…
In order to appease my future investors, I sought to build traction by offering my alternative investment services on a very small scale to a small group of clients. As you may have figured out, I still have no traction, Lol. Over these past few years, I’ve learned a lot about my target customer base. The most discouraging thing I’ve learned is that many of them despise the status quo but are too risk-adverse to try something new.
Additionally, I’ve learn something else that isn’t so surprising. When your looking to venture into anything to do with financial services, investments and/or money in general, many people have a perception of what an expert or innovator in this space looks like. I physically and on paper, don’t look like someone (age, race, resume) who has any understanding of finance, banking, or investments. I’ll leave it at that. All in all, traction has eluded me and things get worse.
To an entrepreneur, we often get so invested in our venture that every set back is like a tragedy for us emotionally; until tragedy really hits. My father passed away… He didn’t understand half of what my business was about or what I was trying to accomplish but he was my biggest cheerleader.
Lesson in Retrospect: Don’t be so consumed by entrepreneurial ambition that you forget to cherish things that really matter. We will all pass away one day and though it seems desirable to leave a corporate legacy, truth is; people matter more. Be the best husband, wife, son, daughter, brother, sister, friend, co-worker you can be. Then be an amazing entrepreneur.