Ep331: Winning the Game of Business With Founder and Business Advisor Kevin Stansfield
October 24, 2022
Having worked with over 300 business owners in a span of 16 years, Kevin has seen pretty much every type of business there is. His father left a high-paying job and bought a business from a man he met at the pub. It wasn’t all that bad. They did not financially struggle, but the business did consume his father’s life. Since then, he has promised not to make the same mistake again. Today, he helps people avoid getting into the same situation.
The Richard Bransons and Elon Musks are outliers; they make up 0.0001% of the population. Kevin has observed that the majority of the people who go into business do not necessarily want to be entrepreneurs. They are either forced to, having been made redundant at their regular job. Some realise that they can’t make enough money in the job they are doing, so they want to provide for their family more, and others are just bored with their nine to five jobs going nowhere.
No matter the reason behind starting your own venture, Kevin believes that achieving financial freedom is your sole responsibility, not anyone else’s-not the state, not your parents, not your family, nor your friends. Here are 3 ways to get there:
Buy up properties.
Out of all the assets out there, people will always need some place to live. It’s a basic need. It appreciates in value and almost always has a guaranteed return.
Invest in stocks, shares and pension funds.
Start your pension early, put money into investments, safe stocks and shares in businesses that generate money. Proceed with caution when dabbling in cryptocurrency, as it is as good as gambling. It’s not a long-term investment. Do not use the money you’re going to retire with to invest in crypto.
Start your entrepreneurial journey.
Grow a profitable enterprise that works without you. Having a business means you have an unlimited earning potential. Build your wealth enough to work because you want to, and not because you have to. Eventually, your business will turn from being a job into being an asset that works even with minimal input from you.