Quote:
Originally Posted by MoneyGuy
That can be very risky and very labour intensive. I've seen folks run their own business working day and night. Businesses do fail. Running a business means hitting for the fence a lot and striking out a lot. I'd try to win the game with singles and doubles and good base running and strategy.
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That's why you need to screen which business you are buying. If you set out criteria and only go after companies with those criteria, then it's not that risky. And a lot of folks that run their own business have one that is too small to be self-sufficient. That's why it is good to go after a company that has a bit of size to it. 8-10 employees kinda thing.
Obviously, it isn't for everyone either. Sometimes, like you say, folks are better off going for "singles and doubles" because they are more comfortable with those. And you can do very well with those investments if you are smart and have a good advisor.