Starting a guaranteed successful business

My learning from the US on starting a guaranteed successful business is for people in the same profession coming jumping out of employment after attaining experience to start similar businesses.

I wonder why that is not the case in Kenya. Most people are employed to their death yet they have more knowledge and experience than their employers. Are we too afraid of making money or we're just comfortable with where we are?

Some service industries have very little or require no no capital to start. All you need is your brains - case in point advertising, PR, housing agents, travel agents and consultancies etc. I've seen some very successful businesses started like this here in Kenya and I now believe that the problem is we all want to succeed by ourselves (scarcity mentality).

the middle class show case mentality - the thought of what people will say in-case of failure and starting again is too much to bear.

how will they continue driving the big cars and renting the upmarket apartments.

You don't have to be a businessman to co-own a business. You just need to believe in yourself. You'll be shocked to learn that most businessmen don't even run their businesses, they hire qualified managers and concentrate in what they do best. Of course it would be very hard for that to work in Kenya.

..the government and the agency do not make it easier for the small business. It is better to buy a plot and watch the value multiply other hustle with Kenya Power for months for a new connection, Kenya Bureau of Standards for tests and standard mark of quality.

The cost and pain of starting up is just too much and one would rather seek easier investment options. Stories from the Entrepreneurs are allover on how hard it is to get you product to shelves however good the product might be.

Was simply indicating the reasons why many opt for different investments and services.

The devil, 2012. The devil is wassup!

Case in point, me. Had grand ideas, having been brought up in poverty, I was determined to 'get out'. First job, good money, made friends.

What friends? Drink buddies. Drink and chase after women, married men notwithstanding. Dream got diluted. Idea was mutual among several pals, we even sat on a table. But our behaviours had clouded our trust for each other. Will I contribute money, only for these misfits to drink all of it? Satan, I tell you!

Salvation has brought me a new set of friends. Selling the idea is hard, but we'll get there, Inshallah.

Been considering taking the plunge for a while now, and thus been trying to know the causes of so many failures and so far I can share the following:

Lifestyle: Being a salaried employee has taught so many of us to live some lifestyles which maybe incompatible with a start up.
For a start you may have to cut back on some non essential expenses until the business picks up. E.g In employment for those who drink you can drink every so often which in business may not be sustainable. You may have to ride a matatu for a while and times you may need to carry some sandwiches from home for lunch to spare every penny possible.
Patience: The late Nelson Muguku said that when he started his Chicken rearing business it took him three years to be able to start keeping any money in his pocket, and like they say the rest is history. I.e whatever little he made went into the business for the 1st 3 years.
Saving Culture: very important to always put something aside for a rainy day, especially knowing that no matter how Rosy things may look now the business will reach maturity and stagnate or start going down, cheaper chinese alternatives will come etc etc.
Humility: Accept to be squeezed in that matatu knowing very well you used to ride your own Benz, and when your former partying friends come knocking to go to the parties be bold enough to say I am broke.Some simple and despised businesses might be where the money is to be found so don't be ashamed to switch from the prestigious job to a fruit and or chicken seller. A certain thread here in Wazua had one member do some math which saw a chicken seller earning a Profit of Kshs 510,000.00 per month which compared to the average salary as per a certain newspaper article (KShs 31-35K) leaves one without words. Yet with a salary of 35k when you go to buy the chicken the chicken seller calls you "mdosi ama Boss!"
Those r the few I can think of now.

Great discussion we've got here.

Most of us live in slavery thinking one day something will happen and "a perfect idea and a matching amount of capital" will appear and then we will have the busiest businesses in the land, on that day.

Come-on lets live our life. Failure in business does not mean end of life.Gather as much info and cash as possible then take the plunge. And btw while at it make sure you you burn your boat and that way you will fight with all you might.

True! I heard Joel Osteen saying that 80% of all 1st time businesses in the US fail, 90% of those who try a second time succeed but 80% of the first time business failures don't try a second time.

You forget corruption and politics in Kenya makes business a bit difficult.This thread started getting most of the issues right(IMHO). I agree no looking behind if you have decided to go into business,you can't drive forward looking at the rear mirror. Just get as much information and exposure as you can before.It won't assure you success but it sure does help to be prepared to handle the huddles ahead and also help you build up confidence along the way. There is nothing like a perfect idea. A good idea today is better than a perfect idea tomorrow. Lastly strive to have an emergency fund and an investment fund. At least a 6 month buffer for expenses and the investment fund for researching,exploring and exploiting opportunities.