Speculate to Accumulate
I was told some years ago “you have to speculate to accumulate” if you are going to get anywhere in business. This has always proven to be a true statement.
Why Speculate to Accumulate?
Every business needs an investment in both time and money. If you don’t give your business the time and resources it need it will not grow or maybe even survive. To accumulate or to grow you need to invest. We can call that speculation because a speculator never knows exactly what he will get back in return but tends to look for a larger return than someone who merely invests. An investor often knows what they will expect back in the form of an interest rate.
Speculate to Accumulate – don’t be scared
Too often many people hold back from speculating because they feel the risk is too great. However in business you have to take risks. It is possible to minimize the risk by careful planning and budgeting. However at the end of the day you will have to speculate in order to accumulate. Whether that is buying in stock to sell, paying for a website, advertising or someones time all are costs to be that mostly must be paid before you see a return. To speculate to accumulate will always carry some risk that is why it is called speculation.
You will find that no matter how long you have been in business there will be many times that you will have to speculate to accumulate.