Being an entrepreneur in any industry is exciting and potentially lucrative. If you’re planning to work in financial sectors, then both of those characteristics can be turned up to even greater levels.
However, given the scrutiny that the finance industry has come under over the last five years, and can expect to do so on an on-going basis from here on out, there comes a lot of responsibility in choosing this career path, no matter how exciting and exhilarating you find it.
What are your options if you feel financial entrepreneurship is calling you?
Giving Investment Advice
If you want to be involved in the finance sector but don’t want to have too much responsibility in terms of dealing with other people’s money yourself, you could always start a business offering investment and other financial advice, so long as you have the qualifications and credibility to do so.
If you don’t have a financial qualification, you could still potentially make money from launching a website aimed at investors and monetizing this as much as possible.
While many wouldn’t consider this financial entrepreneurship, for us it is one of the most obvious starting points. The only thing you’re putting at risk is your own money, and as long as you’re sensible you’ll be able to manage any losses.
The number of options available here is widespread, too. While getting involved with spread betting is simple enough, you could also look further and start foreign currency trading or using other platforms.
If you’ve started offering investment advice, you could use your successes spread betting as a way to build your reputation; pass on your knowledge and expertise, and people will fast take notice if you’re successful.
Buy Structured Settlements
Although you will already need some finance behind you to do this, buying structured settlements either as a one-off investment or to then sell on can be potentially very lucrative. Many people are selling structured settlements at structuredsettlement-quotes.com and with other similar sites, so there is a big opportunity for anyone looking to make good returns in the long-term.
Your biggest challenge getting started in this area will likely relate to the legal side of things, and it may be difficult to carry out market research to understand the levels at which your competitors are operating and what margins they are earning from their activities.
Start an Investment Fund
This is the biggest step you’ll take when becoming a financial entrepreneur. Starting an investment fund can be exciting and the gateway to earning a lot of money if you’re successful. However, the big challenge you face is going to be raising money from other investors.
To do this, you’re going to need to have a strong track record of investing by yourself, otherwise people aren’t likely to present you with their money, no matter how brilliant an opportunity appears to be.
Being a finance entrepreneur can be an exciting career choice. However, it is not a means of ‘getting rich quick,’ and it is not a sector for the faint-hearted.
Mike is a finance entrepreneur with interests in many areas. Leaving his job and starting his own finance business has enabled him to make a comfortable living and set himself up financially for the rest of his life.