Admit it. You’ve daydreamed more than once about hitting the investment jackpot. Your goals are modest. You just want to earn enough money to buy yourself an island. Or at least a second home on an island. So, what’s the secret to discovering the next big thing? Read on for some tips that’ll help you chart a course through the murky waters of investment toward big returns and the island of your dreams.
Tasty Profits: Invest in Restaurants
Consider industries where there will always be demand for the product. For example, people will always need to eat. So, restaurants, especially trendy ones in heavily populated or touristy areas, offer a sweet deal to investors.
Get your slice of the pie early and eat up the profits when the restaurant takes off. Celebrities know the restaurant business is lucrative, too: Ashton Kutcher and his Dolce Group have launched several venues including Ketchup, Dolce, and Geisha House with great success.
Don’t Forget Diversions
Just as people will always need to eat, they’ll always need diversions. Even when the economy’s bad, they still see movies, go bowling, and attend sports events to help them forget that their finances are in the toilet. Take a cue from Jay Z who invested in the Lakers, and consider how you could capture some dollars by investing in a sports franchise.
Entertainment delivery companies such as Hulu, Netflix, and Vudu are leading the way into the new frontier of time-shifted television viewing and on-demand movie watching. Investing in the early stages of these and similar companies may have big pay-offs in the future.
Follow the Big Dogs
Celebrities are making big bucks by investing in industries where there’s a reasonable expectation of success. However, expectations and a company’s size aren’t always harbingers of profit. Just look at Circuit City and Kodak. So, to avoid putting your money in a company that may become a sinking ship, garner wisdom from investment gurus who make a living by spotting the next big thing. Read an article by Fisher Investments about how Ken Fisher navigated his way toward a ginormous portfolio.
Tech is Trending
People are investing in tech companies and partying like it’s 1999. Yep, it’s cool again, and potentially profitable, to put money into online and high-tech ventures. Getting an early piece of the action on a revamped or brand new social media platform could net you profits worth tweeting about.
Let Justin Timberlake be your guide: he and a group of other savvy investors just re-launched Myspace, making it available online and as an iPhone app.
Even if you don’t have thousands of dollars to pour into multiple ventures, leverage your dollars in the crowdsourcing movement. Considered to be the ground-iest of the ground floors of investment, crowdsourcing lets you give small amounts of money in exchange for recognition and in-kind gifts. While that may not sound lucrative, an early investment could open the door for additional opportunities in the future with a company that’s on its way to becoming the next big thing.
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