Tuesday 25 November 2014

Five Key business Ideals For businessmen in Kenya and beyond.

A STORY FOR START UP SMALL BUSINESS FOR KENYANS AND BEYOND        'HUSTLEMOTIVATION'
When I started doing business about six years ago, I made the mistake of over-relying on text book knowledge. Subsequently my first two businesses failed. I however took that as a learning experience and even started writing a book, HUSTLECONOMICS, I mean, something more relevant to the streets. I had already mastered accounting and finance in class, and yet that was not even half way enough.
 

Here is an extract of some of the lessons learnt!
1. Being nice is a luxury that only the rich can afford: This does not mean that you should be rude, it simply means that you should not be nice to the extent that people take advantage. It means you should clearly state what you mean, re-evaluate the situation if it is a lose – win situation, and know when to compromise when a win--win situation is an option. In simpler words, learn to say ‘NO’ when if by saying ‘YES’ you will have lost. 


2. Respect Money: People love money and yet do not respect it. How do you treat someone/
something you respect? Do you waste, misuse, ignore or go throwing it (or that Person) around? No, if you want your money to stick around longer, respect it. Money should give you financial independence and not stress. Eventually, it is those who respect money that have money work for them. Finance experts say, spend less, save more, invest wisely and give generously (in that order). And as my dad always told me, neither a lender, nor a borrower be! A man and his friends, as one story goes, went out to have a drink. His wallet was so much packed with notes that it was hard to fold. He had one of his friends drive over the wallet just to fold it. Once in the pub, his table littered with bottles and nyama choma delivered, he could not wait for water to wash his hands. He took a beer, washed his hands with it, went to his wallet, pulled a few notes and wiped his
hands to the disbelief of his friends. That was a few years ago. I wished this was a fable, but the
teller of the story pointed to me the man in his current delapidated condition. 'That is what happens when you abuse(disrespect) money,' he said. 


3. Invest in people: People are the most powerful of resources. Yes it is true that as per human nature some are bound to stab your back, but there will be twice as many that if you empower, will make you great. It should also follow that if you bet on someone and it does not work out, be the first to kick them out. 


4. Guard your reputation: Reputation is like a big house of
cards, it takes time to build but just one false move and it all comes tumbling down. There was a
research conducted by some social scientists called ‘In trust, we trust,’ and the conclusion will amaze you; REPUTATION WILL BE THE CURRENCY OF THE FUTURE. So guard your reputation at all costs. Being bad, greedy, corrupt, et al might work for you in the short run, but definitely not in the future. 


5. Love one person, leave the rest: This mostly applies to men, until you realize that the time, the money and the energy you waste on flings is not worthy it, then you will always be on the same rat race path. Instead, make that one person that deserves it be your partner and friend, and there will be no limit as to what you can achieve.

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