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*HOW GREAT BUSINESS IDEAS ARE BORN*

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*First, find your passion.* Take a pen and paper and list five to ten things about yourself. What do you like to do? What are you good at? No matter how personal it is, like “I love kids” write it down. Whatever comes to mind that you love to do and would do for free, jot it down. Think about how you could turn these things into a business. For example, if you are passionate about healthy living and spend your free time researching recipes, finding new ways to work out and read up on the newest health trends, that is an idea. Start a blog or coaching business with your expertise. You could also look at your past jobs and analyze what you liked and didn’t like in your role. Think of industries and types of businesses that would allow you to do more of what you like. For example, if you loved working with people in your customer service job, why not build a coaching or consulting business? Michael Bloomberg became the richest man in media when he used the financial know-how and informati...
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*WHICH ONE WILL GIVE YOU MORE MONEY IF STARTED WITH A LOAN? RENTALS VS DAIRY FARMING

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If you have a quarter acre plot that you want to develop, should you take a bank loan to build your apartments or should you grow your money to build it? If it were up to me, I would use the title deed to borrow money from the bank for a business, but not to build rentals. If you borrowed 10 Million from the bank to build one bedroom units in the same plot, you would probably just build 10 units if each unit costs you Ksh.700,000 to finish plus the perimeter and other amenities.  If you rent out the units at Ksh.7,000 each, it gives you Ksh.70,000 per month. This is equivalent to Ksh.840,000 per year. If you were to commit 50% (assuming) of your income to repay the loan and interest, you would need to pay Ksh.35,000 per month for 24 years to repay the loan. This mean your 10 units only gives you Ksh.420,000 per year. All you have is the pride of being a landlord but broke and miserable. You will be having the pressure of trying to impress your friends since they think you are a lan...
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ARE YOU PROFITING FROM YOUR TALENT?*

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  So many people around you talk about talent, especially when they see someone who becomes extremely rich as a result of his/her talents. It's common to hear, “That musician is very talented. Look at how he/she sings easily” You can hear people saying, “Football is very easy for Ronaldo.” How true? Do talents truly give people easy success? Yes and no, depending on what you call “easy success”. Talents are like gold. Talents are great and can make you rich, yet, talents (like gold) require much work before they become an “ATM machine”. Before I continue, let me share with you this good quotation: “Talent is cheaper than table salt. What separates the talented individuals from the successful ones is a lot of hard work.” Wow! Read that quotation again. Talent is cheaper than table salt, everybody has one. The only thing that turns talent into great success is work… a lot of work. Take for instance, Michael Jackson was recognized as (probably) the most famous musician ever in the his...
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