When you get some time, go to Buyer Beware on Facebook and look for the post where Kenyans were discussing lessons from their failed ventures and the type of businesses.
It's basically remote/phone/Mpesa farming, clothing and Uber but let me break it down further briefly.
It's basically remote/phone/Mpesa farming, clothing and Uber but let me break it down further briefly.
There are businesses that only make financial sense if the owner is the operator or has domain experience.
Like an Uber car. If you buy one, drive it to learn and understand.
Most people don't make enough to service car loan, pay driver and maintenance.
Or a butchery.
Like an Uber car. If you buy one, drive it to learn and understand.
Most people don't make enough to service car loan, pay driver and maintenance.
Or a butchery.
Any business which you don't understand the hidden dynamics don't get into it.
Like a wines and spirits, bars and transport without a godfather. You might find out your competition has rigged the game.
Like a wines and spirits, bars and transport without a godfather. You might find out your competition has rigged the game.
Only invest what you can lose. Or have that on the table "Ask the person putting in money, what if this doesn't work out".
This is not being afraid but sizing up the risks and how people perceive failure.
This is not being afraid but sizing up the risks and how people perceive failure.
In a service business, your employee most likely dream of having a similar outfit.
A barber wants to have his shop one day
A driver will want to own a vehicle one day
Hata dame wa massage anataka kufungua place yake one day
A barber wants to have his shop one day
A driver will want to own a vehicle one day
Hata dame wa massage anataka kufungua place yake one day
Always remember no one goes into business with enemies but money can bring serious misunderstanding.
Doesn't matter if you're going into it as a couple, friends or colleagues. Just have structures and oversight plus a way of resolving disputes and decision making. Important!
Doesn't matter if you're going into it as a couple, friends or colleagues. Just have structures and oversight plus a way of resolving disputes and decision making. Important!
Only invest in sectors you have expertise in or get a business partner with the domain knowledge equally vested.
Like don't open a pharmacy then hire an inexperienced white lab coat if you're not a pharmacist or partnering with a professional.
Put your money in capable hands.
Like don't open a pharmacy then hire an inexperienced white lab coat if you're not a pharmacist or partnering with a professional.
Put your money in capable hands.
Be cautious about things "that have money". Like your friend told you hardware iko na pesa, importing clothes, selling bags or shoes has money. You can go to China or buy a bale and pigwa na butwaa ukingoja jackpot.
Do what you know. Start small. Don't go all in round one.
Do what you know. Start small. Don't go all in round one.
Anything that can make you tons of money can also clean you in one bad deal
Don't be greedy. Don't assume everyone else is stupid. If you're feeling smarter than everyone else in that table, chances are you're the idiot in the deal.
Don't be greedy. Don't assume everyone else is stupid. If you're feeling smarter than everyone else in that table, chances are you're the idiot in the deal.
Businesses are not democracies and tough decisions have to be made without a debate or a vote at times. It's a game of conflict resolution and negotiations.
Don't make it a me vs the others. It's not a fight. Partner with people you respect professionally and trust personally.
Don't make it a me vs the others. It's not a fight. Partner with people you respect professionally and trust personally.
There's only so much that lawyers can cover but don't transact on trust alone. One party will feel they're doing more, or can go at it alone or kick you out. Discuss exits and business continuity.
A biz is not a marriage, people will leave and others come onboard. It's long term.
A biz is not a marriage, people will leave and others come onboard. It's long term.
There's only so much that lawyers can cover but don't transact on trust alone. One party will feel they're doing more, or can go at it alone. Discuss exit options and business continuity.
A biz is not a marriage for better or for worse. People will leave and others come onboard.
A biz is not a marriage for better or for worse. People will leave and others come onboard.
What relevant skills do you have that will be useful in the business?
What network have you built that can be valuable to the business?
How much of your time does it require? Or do you have to dedicate?
Are you going to hire, partner up or run it yourself?
#sidehustle
What network have you built that can be valuable to the business?
How much of your time does it require? Or do you have to dedicate?
Are you going to hire, partner up or run it yourself?
#sidehustle
How much money is the side hustle going to generate in revenue? If it's a milk ATM, car wash, choma place, car etc just know how much one can net in a good month.
Not all businesses require you to go fulltime but if you won't, ensure it can afford personnel and pay its bills.
Not all businesses require you to go fulltime but if you won't, ensure it can afford personnel and pay its bills.
If you are looking to jump on the bandwagon of Kenyans shipping from China and tap into the growing e-commerce opportunities in Africa, here is a handy guide on what you need to know or go about it when sipping goods from abroad to Kenya
🔌@PyxisVault
pyxisvault.com/2022/01/30/imp…
🔌@PyxisVault
pyxisvault.com/2022/01/30/imp…
Choose from a great selection of low season holidays at affordable prices across Kenya. Book a well-deserved holiday and escape with any of @Turnup_Travel offers that will give you a chance to turn up, relax and rejuvenate.
Holla!
Reservations@turnup.travel
+254724215977
Holla!
Reservations@turnup.travel
+254724215977
• • •
Missing some Tweet in this thread? You can try to
force a refresh
