Every business niche has a cycle and a trend. Everything in life runs in cycles whether it is fashion (flares), currency values (at this moment the dollar is at a low) or property prices.
The same can be said of your business. When a market starts expanding, it will most likely continue to grow for at least the next five years and vice versa when it starts to decline another five years are due. Do you know what cycle of the trend your business is in?
Bearing this in mind it is important to realise when you enter a market segment what state it is in and how long it has been in that state. Say property prices are booming and you want to invest in property. Chances are that if the prices have risen for over five years then you are in the tail end of the boom and this is not the right time to buy!
Never try and predict a trend but rather latch on when it has started. Far too many people have lost a lot of money trying to guess when one trend ends and another trend begins. Some people have made their fortune this way but for most people who would rather have certainty and reasonable gains this is not the right route to take.
It is also a good idea to...
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