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Just been RETRENCHED! what are my options?
Rank: Elder Joined: 6/20/2008 Posts: 6,275 Location: Kenya
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If you decide to continue with mechanic job, then you can get your own yard (rent empty plot from some mdosi) or partner with someone (share the rent but everybody do their own stuff).
- At the garage, setup an auto-shop, stock it with basic, common parts for common cars (filters, plugs, oil, bulbs, brake pads etc)
I like the rebuilding old car and selling idea. It's exactly like the importing and selling idea where the margins are almost the same i.e. 30-60K profit.
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Rank: Elder Joined: 6/20/2008 Posts: 6,275 Location: Kenya
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McDreamy wrote:Thanks all, am in the process of clearing hence limited internet time but am reading and will reply to everyone And don't forget to operate on data bundles from now on to save on your internet costs. And stop stories on the phone, ati "kunanyesha huko?"  Just: 1. "hello" 2. "Who" 3. "Why" 4. "Where" 5. "When" 6. "What time" 7. "Ok, bye...
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Rank: Member Joined: 5/8/2008 Posts: 288
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AlphDoti wrote:McDreamy wrote:Thanks all, am in the process of clearing hence limited internet time but am reading and will reply to everyone And don't forget to operate on data bundles from now on to save on your internet costs. And stop stories on the phone, ati "kunanyesha huko?" Just: 1. "hello" 2. "Who" 3. "Why" 4. "Where" 5. "When" 6. "What time" 7. "Ok, bye... And make use of WhatsApp. Its free & allows you to chat through your mobile phone
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Rank: Member Joined: 7/31/2009 Posts: 743
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..there is a window somewhere, just look harder, forget about that door that has been closed..such is life
Problems can get out of proportion, and not only in the wee small hours. Don't let the problems eclipse the Master. Let the Master eclipse the problems.
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Rank: Hello Joined: 9/14/2012 Posts: 6
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sitaki.kujulikana wrote:how long had you worked and what is your skill level ?
I have over 10+ yrs in IT Tech, System Administration & IT Management. You have something to offer?
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Rank: Member Joined: 2/12/2010 Posts: 474 Location: Nairobi
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McDreamy wrote:sitaki.kujulikana wrote:how long had you worked and what is your skill level ?
I have over 10+ yrs in IT Tech, System Administration & IT Management. You have something to offer? Having worked for ten years, didn't the employer give you "something" when leaving. Or is it a misuse of "RETRENCHED" ...just asking...assuming the 500k is from your savings. If 500k was what you received(highly unlikely with ten year service), then it appears you have an issue with spending and no savings which you ought solve first before looking for a new job. You are lucky you have no loans and debts...and at least you have the courage to speak out. wish you well in your next duty. Keep it simple
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Rank: Member Joined: 5/9/2011 Posts: 178 Location: Nairobi
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McDreamy wrote:sitaki.kujulikana wrote:how long had you worked and what is your skill level ?
I have over 10+ yrs in IT Tech, System Administration & IT Management. You have something to offer? why not offer services to other people with the skills you have, you can set up your company and start bidding for work.When you that desperate you don't care what people say..you far much better than how some people started.. # rephrase you question to something help me invest on 500k and you will get many suggestions from members..i believe there are so many people with brilliant ideas here, that can help. Those who follow the crowd usually get lost in it - Techbiznah
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Rank: Elder Joined: 6/20/2008 Posts: 6,275 Location: Kenya
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McDreamy wrote:sitaki.kujulikana wrote:how long had you worked and what is your skill level ?
I have over 10+ yrs in IT Tech, System Administration & IT Management. You have something to offer? I was listening to this guy on the bench and since I have farming interest, he inspires me Douglas Kanja
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Rank: Elder Joined: 6/17/2008 Posts: 23,365 Location: Nairobi
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As a by the way, is your former employer KQ??? ..."Wewe ni mtu mdogo sana....na mwenye amekuandika pia ni mtu mdogo sana!".
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Rank: Veteran Joined: 11/17/2009 Posts: 2,038 Location: GA
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their is a quote that says "in the middle of difficulty lies opportunity"
a guy was sacked some 15 years ago the same month his wife had a baby .he spent the next 6 months writing applications with no job offers coming and dwindling savings he woke one day and headed to a softa distributor paid some deposit and given a cart full of softas
its during the rounds in the estate he noticed something people would stop him and enquire about vacant houses within the estate until one day a lady offered to pay him 500 sh if he could get a house for her and as they say the rest is history he has now a medium sized real estate company and the girl did kcpe last year
the downside of starting a business is that it takes time at least 10 years for a solid one
it depends on how you will handle it keep calm and dont forget to pray
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Rank: Elder Joined: 9/7/2010 Posts: 2,148 Location: elderville
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richdad wrote:McDreamy wrote:sitaki.kujulikana wrote:how long had you worked and what is your skill level ?
I have over 10+ yrs in IT Tech, System Administration & IT Management. You have something to offer? Having worked for ten years, didn't the employer give you "something" when leaving. Or is it a misuse of "RETRENCHED" ...just asking...assuming the 500k is from your savings. If 500k was what you received(highly unlikely with ten year service), then it appears you have an issue with spending and no savings which you ought solve first before looking for a new job. You are lucky you have no loans and debts...and at least you have the courage to speak out. wish you well in your next duty. Things like 'Benefits gone to clear sacco loan I had purchased land (in konza) last year' (reading his first post may reveal that gem to you) have a way of reducing the 'something' and even savings. He who can express in words the ardour of his love, has but little love to express. - Petrach, Son. (That men by various ways arrive at the same end. - Montaigne, The Essays of.)
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Rank: Hello Joined: 3/6/2012 Posts: 8
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Hi you asked where to start, here's where: Talk to your wife, have a family meeting, explain the circumstances and agree to reduce all unnecessary expenses particularly the kids in expensive private schools live within that 70k, don't be tempted to dip into those savings to meet recurrent expenses as the 500k will dry up in an instant,its better to transition now than be forced to do it later. I am speaking from experience, my dad was retrenched from a parastatal in the early 90's while i was in high school, he had the old mindset of zero investments and work for company till you die or retire with a pension, hence he wasn't prepared in the least, no savings,no additional papers since campus and living in a rental house. He did not cut expenses, we were eventually forced to by the little money running dry.... lets just say and the whole episode traumatized me mpaka these days with a job and a life of my own,i am excessively frugal, i don't own a car though i can easily afford one and i save 60% of my gross income.
Secondly brush up on that CV and get psychologically prepared for many no's but you'll only need the one yes.Overall remain optimistic and be creative, there are many other people who are in far worse circumstances than you are.
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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You have been given a whole lot of advise that i have nothing more to say. Watch this Movers and Shakers and get inspired by this accountant who left his day job to start Haji Motors "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Member Joined: 8/13/2009 Posts: 62
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McDreamy,
With 10+ years of experience, your best bet would be to get a job....pronto. And am not talking about the send-my-Cv-shoot-in-the-dark-hope-I-hit-the-target type. You have to sit down and shortlist guys in your network that can get you a gig bila mambo mob. If you get a job that is giving you even 80k take home, grab it with both hands.
AFTER getting the job, you now need to seriously build your side business (as you look for a better job). Starting a business now would have been ideal if you were a single man but family and all the responsibilities that come with it will only strain your start up capital (however frugal you are).
Those who are advising you to change schools, move houses have a point but IMHO that also has a cost to it (deposit for new house, repairs, cost of transport, uniform etc) so you need to sit down and do the math. If you have two cars, sell the more expensive one to maintain. Plough back the proceeds into your start up business. (Ideally You should register the business and open a bank account). Make sure there is "activity" in the account, this will come in handy months from now when you need to borrow money for expansion.
Going forward, you'll notice a few things in these tough times:
*Your fair weather friends will desert you...in droves. Sounds cliche but it happens all the time.
*You'll be shocked at how many things you used to buy but can actually do without
*The value of a shilling will take a whole new meaning
*You think you know yourself, you dont. You'll discover some strengths and also weaknesses you thought never existed in you
*Life will unleash some serious punches on you, better be ready to absorb each of them.
Lastly, to paraphrase a quote from the movie Up in the Air: "Anyone who has ever been someone was once in your exact position (retrenched)".
All the best.
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Rank: Member Joined: 4/18/2011 Posts: 459
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Considering that you work as a part time mechanic means that you are humble enough despite your earning relatively big monies and I take that as a plus for you in the situation you are in.
Another advantage you have is that you are a mechanic and time and again in the garages you will have heard mtu akitoa so much naeza uza hii pick up/ canter etc. It ain't so hard for you to get a reasonably good 2nd hand commercial vehicle and you can fix it yourself.
How about you look for a buyer for your personal vehicle and with the cash you get and what you have currently buy a pick up leaving some cash to use as capital to be buying food stuffs from farmers and distributing in Nairobi etc. I am assuming u r in Nairobi.
Better still if you can get a bigger vehicle you can be able to provide transport as well as selling your food stuffs.
If you choose to start a garage do your math vizuri and do your good research. You maybe better off offering your services in an already existing garage until you have a good client base to justify having your own garage.
If your wife ain't in Sacco let her join 1 and contribute seriously so by early next year you can get school fees loans.
Don't stress yourself so much about children moving to cheaper schools although you don't have to move them immediately maybe January if you really have to.
I hope your spouse will be ok taking care of the family in the meantime as you find your footing.
She may still be asking you for cash to meet this or that need even when she might know hauna, so it's important kujishughulisha with an activity that will bring kitu kidogo even if it's just for your personal needs.
There is a saying that talks of preparing for war but expecting to find peace, so go on and apply for jobs and talk to people who could refer you to prospective employers.
Alafu guard your imagination against negative thoughts of what might happen it will only take away your peace. The challenge you face right now is that you hadn't prepared psychologically otherwise it's really no big deal.
All the best and if you r a believer pray like its going out of fashion, hunt for a job like your life depends on it and hustle just as much. You will thus be having three attacking frontiers.
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Rank: Member Joined: 11/6/2010 Posts: 289
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those of us who are working lets answer this question...what if we loose our jobs today what are our options,are we prepared????
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Rank: Veteran Joined: 1/25/2012 Posts: 1,624 Location: Langley
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McReggae wrote:As a by the way, is your former employer KQ??? Wanted to ask the same anyway ... http://www.businessdaily...8/-/s1sjqaz/-/index.htmlIf you have built castles in the air, your work need not be lost; that is where they should be. Now put the foundations under them.
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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slickyoz wrote:McDreamy wrote:sitaki.kujulikana wrote:how long had you worked and what is your skill level ?
I have over 10+ yrs in IT Tech, System Administration & IT Management. You have something to offer? why not offer services to other people with the skills you have, you can set up your company and start bidding for work.When you that desperate you don't care what people say..you far much better than how some people started.. # rephrase you question to something help me invest on 500k and you will get many suggestions from members..i believe there are so many people with brilliant ideas here, that can help. Even better, look for lecturing opportunities in the so many mushrooming "colleges" and training centers that are the inthing in Nrb. Offer consultancy services too. Happy hunting "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Hello Joined: 9/14/2012 Posts: 6
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Intelligentsia wrote:Point no. 1: Ignore anybody here who has told you pole.
Really, I don't understand why people are telling you pole!
What you have is that someone has shoved under your very nose a great opportunity - and KShs 500k capital plus your lots of experience - to start your life all over again and some folks are telling you pole?! Ignore them.
The 'stress' you are feeling is normal and is nothing more than the feeling of being pushed out of your comfort zone ('guaranteed' regular income every month end) and seeking a new stable equilibrium.
Point 2: I know so many people who left salaried employment, started a business in which their core competence/ interest lay and they went on to establish very successful business empires. Remember that mama Milly who bakes cakes?
Some folks didn't wait to be retrenched - they just had the guts to quit!Others like you may have over the years entertained the idea of going into their businesses but never really had the guts to take the plunge - UNTIL they were let go by their employers. You belong to the latter category, ndugu.
Your competency is in cars/ motor. You are lucky because this is a going business/idea and like a working car all you have to do now is kuweka mafuta/ fuel it and off you zoom.
Why not invest in this business? Which cars to specialiase in? Say start a garage? Where to situate it? What is your vision about this garage: you running it, with competent mechanics, fair charges, specialising in a particular model, with an eating place where your customers (who will include your ex-employer's cars because you have not burnt your bridges)can have a bite as they wait for their cars to be fixed? etc. the options are endless and you will refine them with time.
Tell you what mate, start this garage and kindly give me the privilege of being your first customer to bring my car for service.
Thanks Intelligentsia, I surely will appreciated your business. This was my option 2yrs ago, actually I invested about 1M, opened a garage, hired mechanics/manager but it went down as soon... I may also need to get tools & this is where lots of capital is necessary.
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Rank: Member Joined: 10/26/2008 Posts: 380
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1. Visit resolution health or any other insurance provider and get a medical cover. Shop around to make sure you get the best deal.
2. Don't sit at home sending CVs. Look into your network, arrange to have one-on-one meetings with your contacts. It will land you a job much faster.
3. I hope your family can survive on the 70K (minus the school fees). Let your worry be about school fees - due in Jan - you have a few months to plan.
4. Adopt a "do it" approach to your business. Most people sit and sulk at how bad their situation is, and never do anything. Identify a need, and use your skills, knowledge and contacts to fulfil the need.
5. Most businesses will fail because the dedication is missing, or they are out for quick money, or because their employees are just fleecing them - as they are never there. Take time to understand your business, your customers, your suppliers. Know every aspect of the business, and run it for sometime. You can always start small, then grow it. Capital is not the problem, the issue is - do you have a market, and do you have the right attitude to run the business?
To all others working, Imagine waking up and tomorrow, you dont have a job. Plan for that.
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Just been RETRENCHED! what are my options?
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