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Big Business (1 million plus per month net)
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matatuman
#21 Posted : Thursday, January 28, 2016 6:40:04 PM
Rank: Member

Joined: 12/5/2013
Posts: 224
popat wrote:
My two cents.You can succeed in any business venture that serves a particular need as long as you are ready to go that extra mile.By this I mean you have to stop reading stuff like what we are telling you here and get your hands dirty.Start doing biz and the experience will shape you.This idea of thinking of millions before hitting the turf will get you no where.Go out there among the vultures and fight your way out.The truth is.Those driven by passion and hardwork ethic survive to make those millions.Those who go in with the immediate big money mentality quit earlier than necessary when the shit hits the pan.Your friends needs to resign today and get serious.He should be prepared for the worst because reality may turn out to be different from plans.I hope first thing is to come up with a serious biz plan which will enable him establish the SWOT of his idea.


Good advice....resigning may not be necessary though.
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popat
#22 Posted : Thursday, January 28, 2016 7:26:36 PM
Rank: Member

Joined: 12/2/2009
Posts: 299
Location: kenya
matatuman wrote:
popat wrote:
My two cents.You can succeed in any business venture that serves a particular need as long as you are ready to go that extra mile.By this I mean you have to stop reading stuff like what we are telling you here and get your hands dirty.Start doing biz and the experience will shape you.This idea of thinking of millions before hitting the turf will get you no where.Go out there among the vultures and fight your way out.The truth is.Those driven by passion and hardwork ethic survive to make those millions.Those who go in with the immediate big money mentality quit earlier than necessary when the shit hits the pan.Your friends needs to resign today and get serious.He should be prepared for the worst because reality may turn out to be different from plans.I hope first thing is to come up with a serious biz plan which will enable him establish the SWOT of his idea.


Good advice....resigning may not be necessary though.
Any business that requires controls can't be managed through the phone.May be farming where you still have to commit ample time to monitor progress.The only other way is to have trusted employees to run the show on your behalf.But youll also soon realize trust and money don't mix especially among Kenyans.
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kryptonite
#23 Posted : Friday, January 29, 2016 9:25:15 AM
Rank: Member

Joined: 2/1/2010
Posts: 272
Location: Nairobi
popat wrote:
My two cents.You can succeed in any business venture that serves a particular need as long as you are ready to go that extra mile.By this I mean you have to stop reading stuff like what we are telling you here and get your hands dirty.Start doing biz and the experience will shape you.This idea of thinking of millions before hitting the turf will get you no where.Go out there among the vultures and fight your way out.The truth is.Those driven by passion and hardwork ethic survive to make those millions.Those who go in with the immediate big money mentality quit earlier than necessary when the shit hits the pan.Your friends needs to resign today and get serious.He should be prepared for the worst because reality may turn out to be different from plans.I hope first thing is to come up with a serious biz plan which will enable him establish the SWOT of his idea.


Well put.
The harder you work, the luckier you get
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matatuman
#24 Posted : Friday, January 29, 2016 9:54:05 AM
Rank: Member

Joined: 12/5/2013
Posts: 224
popat wrote:
matatuman wrote:
popat wrote:
My two cents.You can succeed in any business venture that serves a particular need as long as you are ready to go that extra mile.By this I mean you have to stop reading stuff like what we are telling you here and get your hands dirty.Start doing biz and the experience will shape you.This idea of thinking of millions before hitting the turf will get you no where.Go out there among the vultures and fight your way out.The truth is.Those driven by passion and hardwork ethic survive to make those millions.Those who go in with the immediate big money mentality quit earlier than necessary when the shit hits the pan.Your friends needs to resign today and get serious.He should be prepared for the worst because reality may turn out to be different from plans.I hope first thing is to come up with a serious biz plan which will enable him establish the SWOT of his idea.


Good advice....resigning may not be necessary though.
Any business that requires controls can't be managed through the phone.May be farming where you still have to commit ample time to monitor progress.The only other way is to have trusted employees to run the show on your behalf.But youll also soon realize trust and money don't mix especially among Kenyans.


And that's the mentality that fails most businesses. So what happens when the founder is no more? Business follows him six feet under? There is always a smarter way to get things done, unless you are offering professional services in a one man operation. Effective controls do not necessarily imply physical presence.

The thing is not all businesses can be 'controlled'. Especially those at the bottom of the food chain.
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  | | Edit by user: Friday, January 29, 2016 10:03 AM | Reason: Not specified
TSi
#25 Posted : Friday, January 29, 2016 11:19:06 AM
Rank: Member

Joined: 12/27/2015
Posts: 130
Sorry to hijack your thread @S.Mutaga III, I have a question of my own. A family of 10 have a ka plot around kariokor market where there are many garages but they don't seem to have an idea of how to utilize the property to generate 1M per month. Selling for them is a no no. They also don't have the capital to put up a building. They don't want to lease it as a garage since mechanics pay 100 shillings per day to work there and due to space limitations only 20 mechs can fit which translates to 20X100=2k per day. Your ideas are greatly valued here.
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matatuman
#26 Posted : Friday, January 29, 2016 12:02:09 PM
Rank: Member

Joined: 12/5/2013
Posts: 224
TSi wrote:
Sorry to hijack your thread @S.Mutaga III, I have a question of my own. A family of 10 have a ka plot around kariokor market where there are many garages but they don't seem to have an idea of how to utilize the property to generate 1M per month. Selling for them is a no no. They also don't have the capital to put up a building. They don't want to lease it as a garage since mechanics pay 100 shillings per day to work there and due to space limitations only 20 mechs can fit which translates to 20X100=2k per day. Your ideas are greatly valued here.


You want 1M a month for idle land? You need a miracle not advice.
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S.Mutaga III
#27 Posted : Friday, January 29, 2016 12:23:39 PM
Rank: Member

Joined: 3/26/2012
Posts: 830
You guys perhaps got me wrong. The guy disposed a piece of land at an insane amount. He has completed several flats with the proceeds to generate for him enough income to support his current lifestyle. His corporate job earns him peanuts and he feels that it is time to call it quits anyway. He figures that since 90% of his networth is already in real estate, and his papers are intact, he can safely venture into enterprenuership to pursue his dream. After all, earning 65k net with such a networth is slavery and stupid. He thinks there is better use of his time now. Please note that the rent from his projects is more than 10 times his net salary and he has no loans.
A successful man is not he who gets the best, it is he who makes the best from what he gets.
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sparkly
#28 Posted : Friday, January 29, 2016 12:38:57 PM
Rank: Elder

Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
S.Mutaga III wrote:
You guys perhaps got me wrong. The guy disposed a piece of land at an insane amount. He has completed several flats with the proceeds to generate for him enough income to support his current lifestyle. His corporate job earns him peanuts and he feels that it is time to call it quits anyway. He figures that since 90% of his networth is already in real estate, and his papers are intact, he can safely venture into enterprenuership to pursue his dream. After all, earning 65k net with such a networth is slavery and stupid. He thinks there is better use of his time now. Please note that the rent from his projects is more than 10 times his net salary and he has no loans.


Doesn't add up. He earns 65k net but has flats earning him 650k net?

There is a 0% chance that he bought the piece of land and constructed the flats to earn 650k with his salary. I know because I was employed for a while and my net earnings were more than the 65k he is earning.

Let him continue doing what he was doing to earn the money to construct flats.
Life is short. Live passionately.
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Mtublack
#29 Posted : Friday, January 29, 2016 1:02:04 PM
Rank: Member

Joined: 11/18/2009
Posts: 175
AT SM it doesn't matter where he is getting his money what @ popat said still apply,would have made sense to hold on his land and invest income from the real estate in a small scale learn the ropes. meanwhile the land value would be appreciating and he can then Dispose then land at a higher value and inject more capital ones he is sure that its the right business

For now tell him to put the money in real estate doesn't make any sense to dispose an asset if you have no idea what to do with the proceeds
Some you win some you lose
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Mtublack
#30 Posted : Friday, January 29, 2016 1:12:36 PM
Rank: Member

Joined: 11/18/2009
Posts: 175
TSi wrote:
Sorry to hijack your thread @S.Mutaga III, I have a question of my own. A family of 10 have a ka plot around kariokor market where there are many garages but they don't seem to have an idea of how to utilize the property to generate 1M per month. Selling for them is a no no. They also don't have the capital to put up a building. They don't want to lease it as a garage since mechanics pay 100 shillings per day to work there and due to space limitations only 20 mechs can fit which translates to 20X100=2k per day. Your ideas are greatly valued here.

a million per month may be Abit unrealistic but they can do better than 60k per months, stalls to rent to guys offering goods and services to mechanics could be one way but it still require a bit of capital
Some you win some you lose
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