Many entrepreneurs find themselves holding a huge check in their hands after selling their business or having a major liquidity event, and think: “This is awesome, but what do I do with this money?” The most successful entrepreneurs are the ones who decide to be responsible and invest the cash instead of buying the new jet. Managing Director of Chasefield Capital Harold Pine authored the article, “Creating Wealth is Different from Maintaining Wealth” in Entrepreneur magazine, discussing how creating wealth means taking distinctive risks and maintaining wealth involves a strategic plan with a long-term goal.
Making the transition from a business owner to an investor offers many challenges. When an entrepreneur becomes an investor, there are many skills needed to manage this capital. With more than 34 years of financial experience, Mr. Pine breaks down the key facts to consider when embarking on a new business endeavor, including taking stock of your skills; preparing a money management plan and get the right people to help you run and manage your new business.