How to Make Business Correctly - Personal Statement Example

Personal ment While my grandfather was still living, he did his best to provide for his family. He had money in the bank and investments that he told all of us would be our prized possessions one day. That day came when he breathed his last and his last will and testament was read to us, his family members. He provided well for everyone, he left some money and real estate properties that amounted into the millions. We all felt very lucky that day. It was like manna from heaven. A dream come true.

For me, it meant becoming financially independent and having the power to finally leave the dead end job that I had been working at. I would be able to realize my potential as a businessman and live life to the fullest. All because my grandfather ensured that the future generations of his family would have the chance that he never had in life. So after the properties were sold and I got my share of the inheritance, I felt so rich. I know I only received $25 thousand but to me, that meant I was in the league of Donald Trump.

Unfortunately, with the money that I inherited, I decided to live like Donald Trump did also. What a big mistake that was. The first thing I did was to resign from my job and enter into a silent partnership in a business with my best friend. He assured me that the business would have a 100% return on investment in a years time. I also put a down payment on a house in one of the upper middle class neighborhoods in our area and bought my dream car. It was second hand, but it was still my dream car.

My parents and other relatives kept on reminding me to set some money aside for investments and liquidity and i kept telling them not to worry, I was in control of the situation. I was not going to lose the money I had. I was too shrewd and careful to do that. I had business advice coming in from my friends and they all had various investments that I could go into quite safely. Being my friends, I did not think twice about entrusting my money to them. All was well for a period of time. I was living the high life and getting dividends from my stock investments and loans that I gave to my friends.

The business seemed to be doing well also. I will admit, I did not know anything about business. All I knew was that I was promised money in exchange for letting my friends handle my finances. I know realize what a big mistake that was. The Wall Street crash of 2008 happened in the blink of an eye. Just like everyone else in the world, my finances were severely affected. Suddenly, my friends who invested my finances were nowhere to be found. My friend whom I entered into business with declared that the business was bankrupt.

The rug had been pulled from under me by the people I trusted the most. I could no longer afford to pay the mortgage on my house or the car. I lost everything just as fast as I had gotten them. With the little money that I had left, I decided to take my familys advice and turn it over to the family investment banker who somehow managed to sort out my financial situation and help me keep both the house and the car, for now. I still have a roof over my head and transportation but, because quit my job and lived the high life, I am now living on a shoe string budget and can barely make ends meet.

But things have started looking up for me recently. My family has been very supportive and my investment banker has slowly started rebuilding what I had lost in the past. In hindsight, I regret that I I spent money like I would never run out of cash and that I trusted people whom I thought were friends, but turned out to be wolves in sheeps clothing.