Host Philip Michael answers your questions about business and economics. In this segment, he discusses the value of having a mentor and knowing about stock market fluctuations. Get the full response by watching the video.
Q. Do I need a mentor to start a business, or can I do it all on my own?
A. No, you don’t really need a mentor. As you move up and find yourself in the right circles, [those people] will become your mentors. And you can actually have virtual mentors that you have never met that you can learn from – You don’t actually have to know them. It’s all about the pursuit of information and getting yourself in the right circles. So it would help if you had it, but you don’t really need it in the way you may think you do. Next question.
Q. Some people think the market is too high right now and will drop soon. Do you agree?
A. Anytime you do something new and try something different, you want to make sure that you’re ready … There’s never a perfect time. But there’s always a good reason to jump in.
There will always be reasons for why you should or shouldn’t do it; the key is to find a reason to do it. And right now, if you’re sitting on cash and you’re not investing, trust me … you’re losing money. So you’ve got to put it in the stock market because it travels with inflation. You’ve just got to get started. There’s never a perfect time, but it’s always the right time.
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For another Ask Philip, check this out.
How do you ask someone to be your mentor? Check this out.