A few years ago, I met a guy who had been in Finance for over a decade. He had an MBA in a business and finance related area.
We got chatting about stocks and he was telling me how he'd made loads of money on the Stockmarket and then lost a huge chunk which had made him really cautious. I told him that if I was still one to invest i'd invest in Tesla. He was curious, so went and looked at their books and stuff.
A day later he came back to me telling me how he thought it was a really bad idea. He started throwing terms at me I didn't understand; PE ratios, Gearing, Liquid assets etc etc. Said the stock was going nowhere. So i left it at that.
Someone I know heard the conversation and so they invested £18k on that stock. I didn't find out they had done that till about a year later. Several months later they pulled out just under £40k.
How is it that I was able to recognise this company was going to do well without having a background in Finance?
It's do with understanding strategy. Now I'm not going to teach you all about stocks. I advise and caution against the stockmarket for a number of reasons, but i will share with you what allowed me to recognise Tesla were going to do well much earlier than most of my peers.
And this very recognition of a stronger strategy is something you need to incorporate in your own entrepreneurial endeavours.