Breaking into any market is frightening; dealing in all markets is even worse. So we spoke with Jian Tam, millionaire investor, marketing mogul, and blockchain/NFT superstar, to find out how he handles the market ups and downs that can cause great misfortune to the unwary businessperson.
Markets fluctuate all the time. The trick is to analyze your sector, determine the peaks and troughs, map them into your business strategy, and continue as always. Market fluctuations don't need to put your head in a spin. Jian Tam says being prepared and focusing on what you love is the best business stratagem for forwarding momentum in trying times.
Who is Jian Tam?
Jian Tam has a two-decade-long history of experiencing market fluctuations all his very own. A keen investor and enthusiastic business partner, Jian Tam currently focuses his time on the creation of NFTs. Blockchain technology is reliable enough, stable enough, and secure enough that it could stand to net artists unrivaled profits if used correctly. Jian Tam is the man that introduces artists to NFTs and helps them make those profits. However, it hasn't always been smooth sailing for this busy businessman.
Jian Tam grew up in difficult circumstances. Although both parents and other family members all worked hard, he would watch bills, month after month, swallow their earnings. It became apparent to him from an early age that he didn't want to live a similar life of toil without reward. While appreciating everything his parents did for him, young Jian Tam grew up knowing that the future rested on his shoulders. He would learn new skills and teach himself how to make more money, thereby freeing himself and his parents from the never-ending cycle of pay cheque-to-pay cheque living.
Jian Tam's Tips for Handling Unstable Markets
First, Jian Tam advises that you thoroughly assess the market's stability you want to trade-in before you open for business. Instable markets are unlikely to become reliable just because you have started trading. Few business propositions in the world can stabilize a market. Bitcoin is the only one that springs to mind, and it is not doing well on that front.
If we assume that you have been trading in your current market for many years, and then a massive event like a pandemic has affected trading, we need to reassess. First, ask yourself how likely you will return to pre-pandemic business levels? Next, adjust your outgoings to meet the lowest expectation that you can. Then, when trading begins in full effect, keep setting aside the difference in profit between your lowest expectation and reality. Finally, minimize those running costs and hold everything as is. If you want a stable business in an unstable market, you need to steer that ship safely through the troubled waters.
Jian Tam's favorite tip to new business people is that they take breaks, relax, and think about that work-life balance. If it's not right, no NFT will help you. Take care of yourself. Good business starts with that.