We talk about freedom and independence a lot at Palm Tree Research. And, if you’re reading this right now, you too probably want to break free from the system, pay less tax, and live anywhere in the world you want.
Two ways of securing that kind of freedom is by being a location independent entrepreneur…or a successful investor. Let’s look at the differences between the two:
- An entrepreneur is passionate on the business and usually dedicated to his idea. Most of them are persistent and still stick to run the business, despite suffering from losses. An investor is much more practical to the commercial evaluation and may leave the business when it loses money.
- An entrepreneur is usually more optimistic on the business. An investor is not that optimistic. They can be more optimistic if the business value is relatively high.
- An entrepreneur is the one who run the business, though he may invest money, while an investor only invest money. He is not involved in daily operation.
- Entrepreneur knows the business technology, operations and marketing. An investor knows the business based on financial reports and return on investment (ROI).
- Risks on the entrepreneur are energy and time, while risks on investor is money and time.
I take these basic features and apply them to the cryptocurrency space in today’s video CRYPTO INVESTORS VS. ENTREPRENEURS. Warning: Crypto is addictive and once you start you can’t stop!
Yes, that’s right: On the one side, there are the entrepreneurs who use terminology like Mine, Hash & Blockchain. On the other hand, there are the investing Hodlrs and Whales. Both sides are known to be risk-takers. Both sides need the other to make more money. And both sides need to have in-depth knowledge of the business they’re in.
Warren Buffett made his fortune by limiting his investments to businesses and investments he understood deeply. Whether you’re an entrepreneur or an investor, there are two things you need to remember:
The most important thing to build is knowledge and the most important thing to avoid is greed.
We can help you with the first; for the other you’re on your own.