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How did you make your first Kes million?
Rank: Member Joined: 8/5/2010 Posts: 335 Location: Nairobi
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Some speaker once told us at a training the we should use our past as a springboard rather than a hammock. "I'd rather be lucky than clever... every time!" - ME
"The problem is not what we don't know... it's what we know for sure that just ain't!" - MARK TWAIN
"Space we can recover... time never!" - NAPOLEON BONAPARTE
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Rank: Elder Joined: 12/9/2009 Posts: 6,592 Location: Nairobi
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Genghis Khan wrote:Some speaker once told us at a training the we should use our past as a springboard rather than a hammock. I love that! One morning about one year after I got my first job I alighted from a mat going to work and if you know what cats and dogs is, then this was it! Rain was pouring like a river. I had to cross those two roads on msa rd and after getting a second shower for the day courtesy of splashes from some motorists, I arrived at work and my boss asked me kindly to go home for the day. That's when I started saving 80% of my salo to buy a car to get me to work, the rave and home. In two months I was debt free and by the time the amount was enough to buy a car I was much wiser and the car was no longer a priority, I got 3 acres in Kitengela for 280k and half acre in Kinoo for 200k (wasn't prime then) and later sold 2acre from Kitengela for 1.8m. And that's my story.
BBI will solve it :)
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Rank: Member Joined: 11/22/2007 Posts: 44
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ponyoka na pickup promotion. sold it within 2 day. n made a clean 1.7M  "You wouldn't know where the boundary was until you got a slap on the back of your wrist"
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Rank: Elder Joined: 12/9/2009 Posts: 6,592 Location: Nairobi
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Axe wrote:ponyoka na pickup promotion. sold it within 2 day. n made a clean 1.7M For real?!!! Did the dealer buy it back? (I hear you can sell back to the car dealer at a reduced price, true?)
BBI will solve it :)
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Rank: Member Joined: 2/27/2011 Posts: 518
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2012 wrote:
One morning about one year after I got my first job I alighted from a mat going to work and if you know what cats and dogs is, then this was it! Rain was pouring like a river. I had to cross those two roads on msa rd and after getting a second shower for the day courtesy of splashes from some motorists, I arrived at work and my boss asked me kindly to go home for the day. That's when I started saving 80% of my salo to buy a car to get me to work, the rave and home.
In two months I was debt free and by the time the amount was enough to buy a car I was much wiser and the car was no longer a priority, I got 3 acres in Kitengela for 280k and half acre in Kinoo for 200k (wasn't prime then) and later sold 2acre from Kitengela for 1.8m. And that's my story.
Inspiring story. Won't dwell on how I made my first million but how I lost my first million. Sadly too many young folks lose their first million in a very similar manner. When I graduated from campo some years ago, I was lucky to get a job within a week of my graduation. After a month, I was posted to the rift valley to start another branch of the biashara. I got a one bedroom house that we shared with a colleague who was earning far less than me. We lived cheap and within a few months I had saved quite a sum. My undoing was that I really wanted to buy a car. Looking back, I really did not need one as there was a fairly good transport system to and from town to the estate. I even had the photos of my favorite model on the wall next to my bed. Which really inspired me to save hard. I recall it was on a valentines day that I purchased it. I then went into overdrive pimping the ride. Bought these reams, bigger tires, music system, paint work etc. I then had to move to a much bigger house which had better parking and security for my car. Then the road trips started. Weekends! The company started having cash flow problems and we all had to take a pay cut and delayed payment. I opted to resign and went back to school. That was my turning point. I sold the car and put the cash into stocks after my brother convinced me that it was worth a try. Luck was on my side because I made quite a serious chunk within a year. I withdrew and used the cash to buy my first piece of land. Looking back, had I used my head back when I first got employed and holding all things constant, I would have been so far ahead in life investmentwise. That is how I lost my first million.
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Rank: New-farer Joined: 4/6/2011 Posts: 6
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I dont have a million yet bt am doing pretty good..I maliza Uni ths month and even though am in school,been saving up almost half my pocket money...started investing at nse and zimele aged 19...th 2009 depression halved my investments bt i sprang back...now i have a smaltymfarming biz in nakuru, a good portifolio and savn up for a biz am starting up very soon...the mil aint far..all by GOD'S grace.I Praise Him for that!! I have always been contented, but never satisfied.
Henry M Flagler.
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Rank: New-farer Joined: 2/16/2011 Posts: 15 Location: Nairobi
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IT'd
Looking at the snapshot of the payment transactions, it looks like a clickbank account.
They do not support the Kenyan market or is it a different account. Can you please share with us which other guys support the Kenya market or how to go about it.
Thanking you in advance
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Rank: Member Joined: 1/30/2009 Posts: 164
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you men ... pretty resourcesful, though not yet there .. heading there. thought it wud go past 600 mark posts compairing to 'airport' leaning threads :) hehehehe They keep moving the cheese  stolen from opensuse forums :)
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Rank: Veteran Joined: 5/8/2007 Posts: 885
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mobile phones in 1999/2000. was buying at 1500 and selling at minimum 13k. back then there was little compe so...
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Rank: Veteran Joined: 11/21/2006 Posts: 1,590
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Rank: Veteran Joined: 1/7/2010 Posts: 1,279 Location: nbi
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Imho, we should now move on to how did you make your first Ksh10m or Ksh25m. Its relatively easy to make a Ksh1m these days. Ksh25m is now the new ksh1m imho. The Governor of Nyeri - 2017
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Rank: User Joined: 5/3/2011 Posts: 559
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Maybe this should ashame me, I work in USA, 3 Yrs experience,26 yrs old, average annual aftertax take home pay $98,000, around $150,000, in savings with just over 2.5% interest,zero debt, The only investment is max retirement savings of 6% of my pay. I have not plan or thought of investing, I am about to blow away all my saving by investing in a top MBA program, cost apprx $120,000, remember, I will have to walk out of my job to get an MBA, am I crazy?
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Rank: Veteran Joined: 12/23/2010 Posts: 1,229
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Drunkard wrote:Maybe this should ashame me, I work in USA, 3 Yrs experience,26 yrs old, average annual aftertax take home pay $98,000, around $150,000, in savings with just over 2.5% interest,zero debt, The only investment is max retirement savings of 6% of my pay. I have not plan or thought of investing, I am about to blow away all my saving by investing in a top MBA program, cost apprx $120,000, remember, I will have to walk out of my job to get an MBA, am I crazy? Prospects after the MBA?
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Rank: User Joined: 5/3/2011 Posts: 559
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For Sport wrote:Drunkard wrote:Maybe this should ashame me, I work in USA, 3 Yrs experience,26 yrs old, average annual aftertax take home pay $98,000, around $150,000, in savings with just over 2.5% interest,zero debt, The only investment is max retirement savings of 6% of my pay. I have not plan or thought of investing, I am about to blow away all my saving by investing in a top MBA program, cost apprx $120,000, remember, I will have to walk out of my job to get an MBA, am I crazy? Prospects after the MBA? It is a risk I am taking with a calculation that I will be able to recoup my investment perpetually, I will also be sitting for CFA 2 in 10 days with thinking that if I combine a top MBA program and a CFA my chances of recouping my investment increases. Remember that few MBA program average starting pay can match my current salary that limit me to specific programs which are expensive and hard to get into.
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Rank: Veteran Joined: 4/16/2010 Posts: 906 Location: Nairobi
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You're in the hundred k club at 26? Which company are you working for?
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Rank: User Joined: 5/3/2011 Posts: 559
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Rank: Member Joined: 2/18/2011 Posts: 448
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drunkard CFA is more than enough.read somewhere mba is mile wide but a foot deep but CFA is mile deep and a foot wide.i guess it all comes down to what you want in future but if you were able to do a part time MBA and still finish the CFA you'd be un-touchable.come to kenya with its 34 chater holders of tz which has less than 10 and you shall build an empire by 32 max
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Rank: User Joined: 5/3/2011 Posts: 559
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@Mibbz.. you capture the anology well, the only problem is CFA can only help someone to a certain level, unlike in Kenya, in US and other developed markets, a better percentage of investment and wealth management professionals have CFAs, so CFA is something you'll be expected to obtain. In my company for instance, it is a norm that one has to have a CFA by their 5th year of service, otherwise you're out of the door, 80% of the investment, wealth and advising professionals have CFAs but few of them have MBA. An MBA for a good school is the biggest asset in business world because in western countries people are attached to their former schools and an MBA from good schools gives you a lifetime network because these schools graduants go out and become leaders in the business world and their degree give you exclusive access to those leaders, something a CFA don't do. Recruiting is also a big part of good MBA, unlike CFA that you have to go out to look for a job, MBA from a good school attract employers, you should see how recruiters pitch tents in these schools trying to recruit their students.
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Rank: Elder Joined: 7/23/2008 Posts: 3,017
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Most here have done amazing stuff at such young ages, congrats all. For me, I never really focused on milli the number but kept saving, through mortgage, sacco and shares. Recently quit shares and put down payment on second mortgage, First mortgage worth 3 m, paid it off in 3 years and had it recently valued for 6m. Embarking on second mortgage and the value of house has already gone up by 2.5m (based on current unit selling price) before I even move in. I intend to get rent and hold on to the first house. "The purpose of bureaucracy is to compensate for incompetence and lack of discipline." James Collins
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Rank: Member Joined: 7/9/2011 Posts: 730 Location: Nairobi
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IT'd wrote:My journey was kind of untraditional(in the typical kenyan scenario i.e) it happened online.I cleared high school and during that 1 year out I didn't go to any 'killing time' colleges,Instead I started visiting online forums,IRC channels and basically I became a very heavy internet user.I didn't have a computer at the time so the only way to access the internet was through my phone(it was a nokia n80).Eventually after seeing it all,I decided I also wanted to make money online like the people I used to interact with.Today I can say that am glad unlike most of my peers,I knew earlier that the internet was bigger than going to facebook to poke people and like status updates.So with that phone(you may chose to believe me or not)I created simple web pages that made me the 1st and 2nd payment as is in the screenshot below(read in an ascending order).  In those early days things were tough,I had sleepless nights,had to work like a horse,and nearly did give up(that first check you see of $215 which is ~ ksh.20,000 was for money generated over 4 months so technically I was making less than a maids salary working at times for upto 20hrs/day) Frankly I dunno what kept me holding on but as you can see my resilience eventually paid off.That screenshot right there is exactly my journey to my 1st million,I've already done my second and it's only been 8 months.Am becoming better at this and it makes me happy that am using my own talent to take myself to the top.I made a thread a while back about wanting to be a multibillionaire by 30 and right now,that doesn't feel unrealistic at all. in summary: -Keep a positive mind(this is everything) -A pure heart(when choosing who to bless,God doesn't look at your church attendance record,He looks at your heart,that's why you see very rich 'ungodly' people whom if you look closer turn out to be very philanthropic and very poor 'godly' people who haven't yet unlocked this secret...also here compassion is everything). - This I came to learn the other day,unless someone shows you a clear and precise manner in which they intend to repay you a debt,do not lend them anything....I've loaned out some ~100,000 and so far I've only been repaid sh.500 so you can imagine.-That is basically my story..gotta get back to work. - I feel you on this, before you lend anyone money if you have to, keep something they value as security. I have lost too much to so called friends our goals are best achieved indirectly
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