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The power of financial education
eco
#301 Posted : Wednesday, October 17, 2012 1:19:12 PM
Rank: Member

Joined: 6/17/2011
Posts: 229
Once a business break-evens and is floating, it is prudent to employ someone to help you in managing it, and delegate proportionately to them, leaving you with abut a 1/3 of the work. Then reduce this even further with time. It feels great to see an enterprise standing while the owner is hands off. It starts by motivating your employees and teaching your clients to trust your system more that you.

@Marty, as you address your next post, what do you think about ESOP for small businesses, or is it inviting problems?

Thanks a lot for great lessons. I look forward your next post.
Am
#302 Posted : Wednesday, October 17, 2012 1:41:59 PM
Rank: Veteran

Joined: 2/21/2012
Posts: 1,739
Marty. Really, you rock. you are simply amazing, a blessed guy. Thank you for the good work.

I know this sounds silly but The more I read your posts, I keep asking myself things like How old is Mwalimu Marty? Does he have Kids? How Many? Which church does he attend? Where does Mwalimu stay? Which High scool did he attend? Why cant' he open a college or something and teach these things? etc, etc.

God Bless you.
Do not be anxious about anything, but in everything, by prayer and petition, with thanksgiving, present your requests to God..
Marty
#303 Posted : Wednesday, October 17, 2012 2:05:12 PM
Rank: Veteran

Joined: 3/31/2008
Posts: 761
Location: Nairobi
mkeiyd wrote:
I think a person of Njuguna's standing should have grown over that. When the start up is new, one is bound to be doing everything and trusting no one. At that point, failure is a few inches below your soles. With stability, Njuguna should be having more minds and hands to work for him,be able to trust n have faith in.
Otherwise he'll be a rich man in grave sooner than later.

Good piece bwana Marty.


True, every business should have a growth path. The proprietor cum manager model works only to a certain extent and so there is need to let go. More of this in the next post.
When I admire the wonder of a sunset or the beauty
of the moon, my soul expands in worship of the Creator.
Marty
#304 Posted : Wednesday, October 17, 2012 2:06:48 PM
Rank: Veteran

Joined: 3/31/2008
Posts: 761
Location: Nairobi
eco wrote:
Once a business breakevens and is floating, it is prudent to employ a someone to help you in managing it, and delegate proportionately to them, leaving you with abut a 1/3 of the work. Then reduce this even further with time. It feels great to see an enterprise standing while the owner of hands off. It starts by motivating your employees and teaching your clients to trust your system more that you.

@Marty, as you address your next post, what do you think about ESOP for small businesses, or is it inviting problems?

Thanks a lot for great lessons. I look forward your next post.


We'll definitely deal with this at some point.
When I admire the wonder of a sunset or the beauty
of the moon, my soul expands in worship of the Creator.
Marty
#305 Posted : Wednesday, October 17, 2012 2:16:45 PM
Rank: Veteran

Joined: 3/31/2008
Posts: 761
Location: Nairobi
Am wrote:
Marty. Really, you rock. you are simply amazing, a blessed guy. Thank you for the good work.

I know this sounds silly but The more I read your posts, I keep asking myself things like How old is Mwalimu Marty? Does he have Kids? How Many? Which church does he attend? Where does Mwalimu stay? Which High scool did he attend? Why cant' he open a college or something and teach these things? etc, etc.

God Bless you.


Mid thirties, married with 2 kids and a committed christian of the Anglican faith. Was in some nice national school somewhere off Thika rd. As to where I live, I'll leave that to imaginations. I have been toying with the idea of a school for enterpreneurs.....big call but maybe once some other systems are in place and self sustaining, maybe I'll open the school but not so much as a money making venture but as way of giving back.
When I admire the wonder of a sunset or the beauty
of the moon, my soul expands in worship of the Creator.
choise
#306 Posted : Wednesday, October 17, 2012 10:49:44 PM
Rank: Hello

Joined: 10/1/2012
Posts: 4
Hello am very happy with wazua forum.i must say in kenya this is the best and most real invetment forum i have come across.congrats to all those who ve made their first M before 30yrs.am 29yrs and am only worth 100k i workd at two banks and things didnt workout well so amnt workng.though i got sm 500k from a family relative to start a business.so am importing some baby staff and am hoping it really works out becoz its the only form of income that am lookng forward to i dont want formal employment.my rent food and transport are catered for.i have seen that most business start ups fail before they turn 5yrs am hoping mine will be the 10% that succeeds.I love moving abroad whether am rich or not i ve a degree and hope to start a business there but dnt have the closest ida of how ill move there dont have relatives bt have a strong desire to move there.

Also how do you know which stocks to buy and when to sell i bought the kengen shares bt never sold them now they are selling for so little bought east africa cables at 78sh and lost.and also how do i invest offshore.
last questions i have save 100k i want to buy land in kajiado for like 30k per acre is it possible and is it a good investment coz i cant afford expensive lands and i really want to buy land.
being too honest ADVICE PLEASE
Am
#307 Posted : Thursday, October 18, 2012 10:46:48 AM
Rank: Veteran

Joined: 2/21/2012
Posts: 1,739
I think that you need to accept yourself the way you are and have belief, plus try get priorities right. Investing the 100k that you have in a land in Kajiado is not wise to me. Probably the 100k should be Invested in a small business. my 2 cent.
Do not be anxious about anything, but in everything, by prayer and petition, with thanksgiving, present your requests to God..
kryptonite
#308 Posted : Thursday, October 18, 2012 11:39:14 AM
Rank: Member

Joined: 2/1/2010
Posts: 272
Location: Nairobi
choise wrote:
Hello am very happy with wazua forum.i must say in kenya this is the best and most real invetment forum i have come across.congrats to all those who ve made their first M before 30yrs.am 29yrs and am only worth 100k i workd at two banks and things didnt workout well so amnt workng.though i got sm 500k from a family relative to start a business.so am importing some baby staff and am hoping it really works out becoz its the only form of income that am lookng forward to i dont want formal employment.my rent food and transport are catered for.i have seen that most business start ups fail before they turn 5yrs am hoping mine will be the 10% that succeeds.I love moving abroad whether am rich or not i ve a degree and hope to start a business there but dnt have the closest ida of how ill move there dont have relatives bt have a strong desire to move there.

Also how do you know which stocks to buy and when to sell i bought the kengen shares bt never sold them now they are selling for so little bought east africa cables at 78sh and lost.and also how do i invest offshore.
last questions i have save 100k i want to buy land in kajiado for like 30k per acre is it possible and is it a good investment coz i cant afford expensive lands and i really want to buy land.
being too honest ADVICE PLEASE


If your rent, food and transport are catered for and a relative has 'loaned' you 500k to start a business, why are you looking to go abroad? My take, concentrate on making the business work (sounds a like a viable one btw), keep the 100k as your rainy day umbrella.

You'll be going to start from scratch abroad without the advantages you mention above.

The harder you work, the luckier you get
eco
#309 Posted : Thursday, October 18, 2012 12:40:24 PM
Rank: Member

Joined: 6/17/2011
Posts: 229
choise wrote:
Hello am very happy with wazua forum.i must say in kenya this is the best and most real invetment forum i have come across.congrats to all those who ve made their first M before 30yrs.am 29yrs and am only worth 100k i workd at two banks and things didnt workout well so amnt workng.though i got sm 500k from a family relative to start a business.so am importing some baby staff and am hoping it really works out becoz its the only form of income that am lookng forward to i dont want formal employment.my rent food and transport are catered for.i have seen that most business start ups fail before they turn 5yrs am hoping mine will be the 10% that succeeds.I love moving abroad whether am rich or not i ve a degree and hope to start a business there but dnt have the closest ida of how ill move there dont have relatives bt have a strong desire to move there.

Also how do you know which stocks to buy and when to sell i bought the kengen shares bt never sold them now they are selling for so little bought east africa cables at 78sh and lost.and also how do i invest offshore.
last questions i have save 100k i want to buy land in kajiado for like 30k per acre is it possible and is it a good investment coz i cant afford expensive lands and i really want to buy land.
being too honest ADVICE PLEASE


@choise, I like your honesty, it is a strength. It shows you are real in confronting your issues as they are. About investment in either stocks or land, you will get good advice from this noble forum. Let me stick to going abroad. If you want to go for further studies, that is alright. If for other reasons, reconsider. Did you know that most immigrants in Europe, US and Canada are just hustling for a living? They may post some nice photos on facebook, but that, in most cases only cover-up of their real life. They struggle to send some dollars to relatives back in their home countries. If you happen to be a beneficiary, of course you desire to go abroad too, thinking that life is bread and butter in the diaspora. That is a fallacy! Bills need to be paid, wherever you are, and I can tell you it is easier back in Kenya where you can enterprise without limitation. Why should you leave the business you are doing (however small) to come to Europe to work in a factory like a Robot. And in some countries you cannot start a business in line you do not have qualifications! In others, you have to learn new language, except UK, US and Canada minus Quebec. I have seen guys win green card to US, leave big jobs in Kenya only to return and go through the pain of re-establishing again. You have written that you have a degree, and is already doing some 'baby stuff business'. My advice would be, work on that if that is what you like, nature it and it'll grow. Get financial education, right here at Wazua. You can't also consider Network Marketing alongside and build your own business. Later, when you succeed, you can visit abroad, but in different capacity.

Finally, before you buy the ticket, watch this.
maina20
#310 Posted : Thursday, October 18, 2012 2:45:50 PM
Rank: Member

Joined: 7/21/2010
Posts: 249
Location: nairobi
eco wrote:
choise wrote:
Hello am very happy with wazua forum.i must say in kenya this is the best and most real invetment forum i have come across.congrats to all those who ve made their first M before 30yrs.am 29yrs and am only worth 100k i workd at two banks and things didnt workout well so amnt workng.though i got sm 500k from a family relative to start a business.so am importing some baby staff and am hoping it really works out becoz its the only form of income that am lookng forward to i dont want formal employment.my rent food and transport are catered for.i have seen that most business start ups fail before they turn 5yrs am hoping mine will be the 10% that succeeds.I love moving abroad whether am rich or not i ve a degree and hope to start a business there but dnt have the closest ida of how ill move there dont have relatives bt have a strong desire to move there.

Also how do you know which stocks to buy and when to sell i bought the kengen shares bt never sold them now they are selling for so little bought east africa cables at 78sh and lost.and also how do i invest offshore.
last questions i have save 100k i want to buy land in kajiado for like 30k per acre is it possible and is it a good investment coz i cant afford expensive lands and i really want to buy land.
being too honest ADVICE PLEASE


@choise, I like your honesty, it is a strength. It shows you are real in confronting your issues as they are. About investment in either stocks or land, you will get good advice from this noble forum. Let me stick to going abroad. If you want to go for further studies, that is alright. If for other reasons, reconsider. Did you know that most immigrants in Europe, US and Canada are just hustling for a living? They may post some nice photos on facebook, but that, in most cases only cover-up of their real life. They struggle to send some dollars to relatives back in their home countries. If you happen to be a beneficiary, of course you desire to go abroad too, thinking that life is bread and butter in the diaspora. That is a fallacy! Bills need to be paid, wherever you are, and I can tell you it is easier back in Kenya where you can enterprise without limitation. Why should you leave the business you are doing (however small) to come to Europe to work in a factory like a Robot. And in some countries you cannot start a business in line you do not have qualifications! In others, you have to learn new language, except UK, US and Canada minus Quebec. I have seen guys win green card to US, leave big jobs in Kenya only to return and go through the pain of re-establishing again. You have written that you have a degree, and is already doing some 'baby stuff business'. My advice would be, work on that if that is what you like, nature it and it'll grow. Get financial education, right here at Wazua. You can't also consider Network Marketing alongside and build your own business. Later, when you succeed, you can visit abroad, but in different capacity.

Finally, before you buy the ticket, watch this.

very true....
..desire to succeed is always fighting with fear of failure..
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