Dear Entrepreneurs, Yesterday, I started highlighting some GUIDELINES that I have learnt through my entrepreneurship journey which I think can be valuable to you and other upcoming entrepreneurs. Rule No. 1 was INVOLVE GOD AND KEEP HIM FIRST (we discussed this ) Today am highlighting Rule No 2. & 3. RULE NUMBER 2: ENTREPRENEURS ARE RISK TAKERS I had ksh.60, 000 when I decide to set off. It was in 26th October 2009 when I found an office. The landlady had asked for Ksh.10000 as the rent and 50000k as the goodwill. Reason being the office had the furniture and a computer. My monthly expenses were about 60K for the company and myself another 60K. Though it was very difficult, it gave me the spirit of thinking Big. So I had to work for a profit of 120K and more. Take calculated risks. The higher the risk, the higher the returns. RULE NUMBER 3: STAY AWAY FROM SHYLOCKS In the first quarter of 2010, my business had started to do well. I was very excited and carried away by the move. (I felt I needed more money to take up big deals and this saw me end up in the shylocks. I was to repay at a weekly, fortnight or monthly period and with high interest rates of about 30% to 100%. Shylocks are opportunists and sometimes very inhuman. It was one of the biggest blunders in my entrepreneurship journey; I spent a lot of sleepless nights and my health was at stake because I lived with stress and panic. Each and every time I saw their calls I would freeze! I almost lost my company to them. My households were auctioned and most friends ran away. But I was left with God! Something surprising, THE PASSION AND DETERMINATION NEVER DIED. Lesson learnt; learn to manage your resources and make them productive. There is no shortcut. Instant cash is just like a gamble! | To Be Continued ... |
Posted on: Fri, 01 Aug 2014 02:22:23 +0000
Trending Topics
Recently Viewed Topics
© 2015