The Intangibles of Having Your Own Firm

Please note that this article was originally featured by Blue Ocean Global Wealth CFO, Sameer S. Somal, on CFA Institute Enterprising Investor.

In January, I offered strategies on entrepreneurship in “Five Reasons to Start Your Own Firm and Four Steps to Take to Do It.” Now, I would like to address the intangibles of an entrepreneurial mindset.
 
Launching a business and then building a profitable company are difficult. Even in the business-friendly climate in the United States, the overwhelming majority of new businesses fail.

Recognize the Intangibles of Success — Especially Trust
 
There is so much in life we cannot measure. How do you quantify trust, love, relationships, and communication? Our interdependent global economy naturally puts a premium on trust, which cannot be measured.
 
Acquiring and serving clients requires specific skills. When launching your own business, you will need to foster trust with prospective clients and strategic referral partners. In order to help clients implement investment or financial planning advice, you will need to build even more trust.

Read the full article.

Cover image credit: Blue Ocean Global Technology

Cover image caption: Sameer Somal, CFA, provides perspective on the value of the CFA Program during Blue Ocean Global Wealth’s “Entrepreneurship and the Intangibles of Success” education program in Ahmedabad, India, in December 2015.