Entrepreneurs, money and investing - your culture

[paxmao]

In the country I was born in, speaking of money is even considered bad taste among those who consider themselves entrepreneurs or owners of companies or property. When making business plans, there is much speaking about mission, objectives and there is an underlying belief that only there is certain social class that is legitimised to do business. Also, inverting in stocks is considered a merely speculative activity, that is the closest thing to gambling and only for the greedy.

This way of thinking does not do compel people to seek financial education or try to build a business. What about your country?

[1715059849]

1715059849

[1715059849]

1715059849

[1715059849]

1715059849

[sunsilk]

The majority don't want to take risks in my country and they don't want to start their own businesses and investments. It's that, there really are people for employment and as well as those open-minded that seek success being an entrepreneur and investor.

I guess it's that majority of us don't really see the importance of getting outside the box of employment and exploring more with what we can do. We just don't want to step on the ladder of risk since it's always more of losing if you're not prepared for it.

[Rruchi man]

What about your country?

In my country, there are not so many job opportunities for everyone, people are thinking outside the scope of waiting on for a job. There is a great and increasing number of entrepreneurs, people who are doing one form of business or the other, either in terms of services or products to survive, or to increase/improve their earnings. Although majority of factors are not in favour of entrepreneurship and the cost of entrepreneurship is high in my country, people are still willing to risk it and go against all odds to make their businesses work for them to survive.

[Husires]

This way of thinking does not do compel people to seek financial education or try to build a business. What about your country?

The problem lies in the firm belief that money is real and must be earned through fatigue, and therefore you must get a job, pay the basics, and when there is little left, you can save a little of it.

Another misconception is that investing and owning workers for you is age-related, so you must be old to be able to run a business.

And from it you find that we learn about money late when our responsibilities start to increase and then we only have to work hard and find more jobs.


Our experience about investment does not count only trading or owning a house or several homes.

[Hydrogen]

Some make a conscious effort to separate business and pleasure. Separate money from their personal dealings and daily life. It could be an old school thing. There's a scene in The Godfather where temporary head Sonny discusses business at the dinner table. Some of the family remarks The Godfather never discussed money or business at the dinner table.

In my US state, anything goes. There are none of those formalities involving money, investment and finance.

Its not hard to see why credible businessman might trend towards avoiding discussion of money in their personal life. Those most enthusiastic and loud with money talk, are usually those who know the least about business and finance. Those who lack money and make poor financial and investment decisions the ones who complain the loudest about money, and talk about money, the most. Its not hard to see how that would become unfashionable and bad manners. Incentive behind people trying to separate themselves from those who act that way.

[davis196]

I don't have enough information about the entrepreneurs in my country,because I usually don't talk to business owners and I don't have any entrepreneurs in my social circle.
However,I'm sure that the financial education and culture in my country is pretty low.Most people don't know how to calculate interest rates and they don't invest in stocks,hedge funds or cryptocurrencies.
My country had a socialist command economy between 1947 and 1997,so the government controlled all the companies in the economy.There is no advanced corporate culture like in some capitalist countries.
Talking about money isn't considered a "bad taste",but most people simply aren't interested in the subject.

[Lucius]

~snip~

Since I don't know which country you are talking about, I will say in general that there are certain countries that support people who have ideas and want to contribute to society, regardless of whether they belong to a certain political party or a religious community. On the other hand, there is your example, where I assume that certain structures of successful people do not want others to become like them, and impose various restrictions and convince them that something is wrong - and at the same time do the exact opposite.

In my country, the most important factor for success is the membership card of the ruling political party, because the best jobs are reserved for their members, and if you want to start a business, bribery, and corruption will greet you at every turn. Fortunately, since my country joined the EU, more than 400 000 people have left the country and found happiness elsewhere, the Western EU has welcomed them with open arms, and apart from dedication to work and honesty, they have not been set any other conditions.

[maju69]

Not much different, especially in my country, which is a developing country, of course thinking that work and education are two elements to achieve success. I don't know where this thought came from, so that not a few of those who don't work feel they don't have a place as citizens who have the same rights. However, their perception is starting to point towards a job abroad which is much more appreciative of one's skills regardless of educational background. But they are looking at what it can give the company. Running a business and succeeding as a financially successful individual.

[Kakmakr]

I live in a country where entrepreneurship is encouraged, because the entrepreneurs are the people who are creating the job opportunities for more people and I live in a country with a high number of people that lost their jobs due to the Covid pandemic.

It is not about the individual, but rather what the individual can do for the group. The gap between the rich and the poor are growing bigger, because some countries do not encourage their people to think for themselves. 

[Questat]

In our country, the rich people are not the native because the native is misled that having a job will provide security in life so people do not choose to risk investing in a business. I would say that our economy is struggling because it's controlled by greedy businessmen who do not provide a competitive salary to people to uplift their standard way of living, but, I understand how it works so I get out of employment and start my own business.

[mu_enrico]

Here, entrepreneurs are for 2nd class citizens. They cannot get a job, therefore have to build their own business or self-employed. The university graduates with good GPA always looking for a job. Some may become entrepreneurs for a few years, but then failed, and apply for a job. Hence, rich people often are not university educated or university dropouts. Funny, isn't it?

Here are several problems:
- Culture: go to school, graduate, and then apply for a job. Is like a mantra for most people.
- Coward: don't want to take a risk building own business.
- Competence: people aren't taught useful skills to earn money by themselves. I personally have to train my employee from 0. Their diploma certificate means shit.

[ninkdwi]

what the OP said in his thread is probably pretty much the same for some people in my country, but there's a bit of a difference between them is people in my country might be too afraid to do things differently with the people around them and they prefer the same over others either it's in business as well as in livelihood everything is pretty much the same.
and I think people who have their own vision in running their business are almost on average too afraid of something new which causes them to tend to do common things

[Ucy]

In the country I was born in, speaking of money is even considered bad taste among those who consider themselves entrepreneurs or owners of companies or property. When making business plans, there is much speaking about mission, objectives and there is an underlying belief that only there is certain social class that is legitimised to do business. Also, inverting in stocks is considered a merely speculative activity, that is the closest thing to gambling and only for the greedy.

This way of thinking does not do compel people to seek financial education or try to build a business. What about your country?

Quite similar here while I was growing up. I remember trying to start a business while I was in school,  I would be told that I should forget about money and focus on education. But my intention wasn't really about having lots money but to be independent and not be a burden to people I depended on for tuition fees and other needs.
I think you could convince such people if you demonstrate that you can very well solve serious problems they are aware of with your skills/talents,  that you can manage money well, live humble life and you are disciplined/knowledgeable enough to run a business successfully. That should convince them you deserve the amount of money you want.

[Findingnemo]

In the country I was born in, speaking of money is even considered bad taste among those who consider themselves entrepreneurs or owners of companies or property. When making business plans, there is much speaking about mission, objectives and there is an underlying belief that only there is certain social class that is legitimised to do business. Also, inverting in stocks is considered a merely speculative activity, that is the closest thing to gambling and only for the greedy.

This way of thinking does not do compel people to seek financial education or try to build a business. What about your country?

Becoming an entrepreneur is a modern-day goal in almost every corner of this world but not many of them actually don't understand what is an entrepreneur and being a business class people even though bith are similar in terms of financial stability there is big difference between the basic mindset, an entrepreneur is someone who start from a scratch with a new idea and make it shine to great extent whereas a business one is doing the existing business idea in better way to make more money.

[Vaskiy]

Whats been stated in the opening post almost resembles the prevailing scenario of my country. Everyone prefer a job that pays them every month. Make budget and fix themselves within the earning. This is how majority of the families live. The present generation have changed a lot, and started to move their earnings from savings to investments.

The previous generation made the present generation educated. The previous generation mainly focused on savings and with the savings moved to next level of living. Now the education is making the present generation diversify and make money. Compared to the past the limitations on business involvement and being an entrepreneur have changed much.

[The Sceptical Chymist]

There's a scene in The Godfather where temporary head Sonny discusses business at the dinner table. Some of the family remarks The Godfather never discussed money or business at the dinner table.

Great movie--but it's only a movie, and it's also a 50-year old one at that.  The Corleones were involved in criminal activities, not the least of which was murder, so it's not surprising that they tended to keep business discussions away from the dinner table.  In 1972, stocks weren't in a bull market either.  If you watch a movie like Boiler Room or even Wolf of Wall Street or TV shows like Billions, you'll see the exact opposite of what you see in The Godfather, where money is being discussed in bed, at the dinner table, on the couch, everywhere.  Times have changed.

And I'm pretty ignorant of culture in other countries, but I'd say money and the discussion thereof in the US is far more prominent than many other nations--or perhaps in a different context, e.g., discussing money as investment as opposed to talking about how to pay for daily necessities or whatever else.  And I think that's because right now Americans have more money than they know what to do with, which is in no small part because of all the cash that's been handed out by the government.  It's why Game Stop stock was pumped to the moon, it's why the stock market is in the upper atmosphere, and probably why bitcoin is sitting at $63k as I write this.

Plus Americans as a rule are greedy AF, there's no denying that.

Not much different, especially in my country, which is a developing country, of course thinking that work and education are two elements to achieve success.

Personally, I think getting a university education is important (unless you're an entrepreneurial genius like Bill Gates, Zuckerberg, and the like), but not all degrees are equal.  Some people major in subjects like history or psychology, and when they hit the workforce they suddenly find out that their four years of education doesn't really help them.  Majoring in one of the STEM field subjects is the way to go, but even getting a degree in business, accounting, or something that gives you a marketable skill is to your advantage.

[ivankoh]

Similar situations happen in my country.  Psychology and education are influenced by family, society, between poverty and mainly self-reliance.  I am more fortunate, since childhood I have been passionate about business.  Rich Dad Poor Dad was the inspiration that made me decide to think full-time job is full of pressure and invest in bitcoin.  I think up until now, it was a wise decision.  Anyone has the opportunity and desire to become a successful businessman in the field of investment.  Even billionaire KFC is successful at a very old age.  So the lessons of financial education make a lot of sense.

[marine4u]

In the country I was born in, speaking of money is even considered bad taste among those who consider themselves entrepreneurs or owners of companies or property. When making business plans, there is much speaking about mission, objectives and there is an underlying belief that only there is certain social class that is legitimised to do business. Also, inverting in stocks is considered a merely speculative activity, that is the closest thing to gambling and only for the greedy.

This way of thinking does not do compel people to seek financial education or try to build a business. What about your country?

My country produces poverty, underdevelopment. Businessman, money, social status is something of a luxury. Most of the parents' psychology is only looking forward to taking care of their children's education and graduation to find a suitable job without being educated in investment and business. They don't want that. Some young people like me actually just invest in bitcoins or some small shops spontaneously without a full training. It was one of those mistakes that it wasn't until I got into bitcoin that I really realized that it was a huge lack. Lol

[DOH!]

Anyone has the opportunity and desire to become a successful businessman in the field of investment.  Even billionaire KFC is successful at a very old age.  So the lessons of financial education make a lot of sense.

Totally agree. I think traditional financial education will help people get out of the deadlock in life, they will have a forward-thinking and a sense of business investment. That means more and more people will be successful. Lust always motivates people, of course for crypto is the fairest you have. Obviously, if you want to get there, you have to act now.

[TheEconomists]

There is no option other than for people to seek for financial education before any plan for business plan as that will really help on how to manage your capital for investment or any entrepreneurship plan. All man for him or her self in this part of the world I must say.