I am 19 y/o doing BDS (bachelors in Dentistry)
I started stock market trading 6 months ago and I have made 48% returns in this period. This may sound unreal for a beginner but my father (he investing since 20 years) taught me a lot about the market and there is a crazy bull market going on in India.
Now after doing all my studies of BDS and researching about companies to invest in I have around 4-5 hours to spare in a week.
I have 2 options for using this time
-
Learning more about stock market
-
Researching about a potential business I could start in Dental Equipments
Let me give you an idea about the Dental Equipments market in India.
- India mostly imports dental equipments from other countries
- Indian government is prioritising to manufacture in India
Now I could research about how these dental equipments are manufactured in this spare time.
I find myself uncertain between these two choices, as there are times when I believe that capital is of great significance and even if I do read all the research papers regarding dental equipments and their manufacturing I wouldn't gain any practical knowledge through them and that is the thing which is most important in real world. Even if I wanted start a business in this space I could just hire an engineer who knows about manufacturing these equipments.
Other times I read about other successful entrepreneurs like Elon musk (I am not his fanboy) who is self learned rocket science and he may not be the best rocket engineer but he knows enough that he could give valuable insights to his team.
Wanted to know which options seems the best to you?
ps. If you are wondering why don't I just focus on dentistry then I wanna tell you that I am not really interested in clinical work. My father has business of Industrial air compressors and we have dentists in our contact because father supplies air compressors used in clinics to dentists. So this business idea came to my mind and thus I am pursuing dentistry.
What should prioritise, Capital or knowledge?
byu/Parth_NB inEntrepreneur
Posted by Parth_NB
2 Comments
If you are still unsure of the path you will take, I’d say to split it half-half. Two days stock market + 1 stock related course / month, Three days for Dental Equipment, Two days for networking.
Nobody can answer what’s best for you….
I will say that when I was growing up my other friends were obsessed with the stock market and what “plays” they could make.
They’ve all pulled decent returns year over year from collaboration in a group chat, but the problems is that those “good returns” are simply good returns on a small amount of starting money.
Their inputs were too small to have meaningful outputs, resulting in their efforts being a fools errand in my eyes at the time.
I never invested in anything other than myself, and I built businesses. I now have a lot more money than they do.
But my goal was to be riskier and make more money. Their goal was to discover how to invest their leftover savings.
Neither party is wrong.