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 freedom are being a location-independent entrepreneur…or a successful investor. Let’s look at the differences between the two:
- An entrepreneur is passionate about the business and usually dedicated to his idea. Most of them are persistent and still stick to running 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 about 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 runs the business, though he may invest money, while an investor only invests money. He is not involved in daily operations.
- An entrepreneur knows business technology, operations, and marketing. An investor knows the business based on financial reports and returns on investment (ROI).
- Risks on the entrepreneur are energy and time, while risks on the investor is money and time.
I apply these basic features 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 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 greed is the most important thing to avoid.
We can help you with the first; for the other, you’re on your own.