Risk comes from not knowing what you’re doing. – Warren Buffett
Wise words from one of the most well known and successful investors in the world.
Sure, businesses can be risky and so too can investments.
But, you can minimise your risk substantially by understanding what you are doing.
Going in blindly to a business not knowing anything about your market, your competitors and your suppliers is not understanding what you are doing. That’s taking a big risk.
Investing in something because you heard someone mention a stock, currency or crypto without doing your own research or knowing how those markets work isn’t understanding what you are doing. That’s taking a big risk too.
You need to know what you are doing. Educate yourself, get help, pay someone or do whatever you have to in order to understand what it is that you want to do.
