1. Understand the Business You’re Investing In
Be its anything, coins, forex, real estate, etc. Always ensure you have satisfied yourself by making a proper research and understanding of the proposed investment in question.
I’ve not just heard stories, I’ve seen it with my own eyes. Someone bought a Keke (tricycle) and gave it out for hire, hoping to get returns weekly or monthly depending on his agreement with the rider.
But guess what? It was problem after problem. One day it was the crankshaft, the next day it was "local government wahala."
It even led to an arrest and things got messy just because someone wants to reap the fruit of another persons labor
Now I’m not saying Keke business is bad, but you need to understand how it works so you don’t end up stressed and frustrated.
3. Don’t Invest All Your Money
Always make sure you have some cash flow on hand. Life is unpredictable. Emergencies happen. Never put all your money into an investment, no matter how "sure" it seems.
you made an excellent point in your explanation but i chose 2 out of all. the number one is very important because you need to know the type of business you want to adventure before doing it. i have equally done this type of business and i can boldly tell what the result turns out to be, instead of me to gain i lost. so it is good to DYOR before engaging into any business otherwise it will lead to loses.
and secondly no matter how a business look so real or to good to be truth, we should not put all our fund to it because if it turns out to be bad he would find it difficult to bail ourselves out. so its important to invest what you can afford to lose so that when the worst comes we can swap to another business with our reserved fund, instead of planning to start afresh.