How much money is enough to start a business?

By Jaluum Herberts Luwizza. Twitter_@jaluwizza Tel:0787555919 ..

The whole of last month and this month I have dedicated time to research and unearth small business ventures that one could do with the least of monies. I shared you how I raised 10m (capital for my dream business) in 8 months from molokoni a business I started with 250k (which I used to buy a pressure cooker, plates, soup bowls and cutlery) and run it with a daily operational cost of 20k making 60k a day with daily profits of 40k.

I also normally tell story of one of my clients who wanted to raise money for her dream business too and started selling juice at her work place making her between 500k - 600k a month besides her salary having started with less than 50k and now owns her fashion house which she is slowly building. What about my Aura park friend that makes about 600k every month selling water of shs 200 with a daily operational capital of 10k.

Then the University graduate who turned down a job offer of 600k net pay because she sold tinned fruits in town and made almost twice that whilst using 30k as capital. Finally yesterday I shared about the University girl that's earning almost 900k a month making handkerchiefs from second hand bed sheets and selling them at 2k while investing only 25k every time she has to make new handkerchiefs.

Yes may times we think we need a lot of money to start up businesses which is not true. There's a lot of things we can do to earn us some money or raise the needed capital to finally do what we want and most times its even passive income. Money we can make whilst not having to be around 8-6 which means it's money we can make alongside our full time jobs if we can only sacrifice a little of the time we have before we get to work or after we have left work.

Am going around trying to unearth more opportunities which I will be sharing with you like I have always unselfishly done. I think what is holding us back is a bias towards certain source of income caused by useless stereotypical thinking. Last time someone admitted to me, "Herbert all those ideas you are sharing with us are great but personally I have a problem. My ego will not let me do those businesses of 50k. How can you help me!? ". Saying that I was dumbfounded by the admission is an understatement. How was I supposed help such a person I thought to myself.

Learning something takes time, unlearning it takes thrice as much time and effort it's why we have sayings like you can't teach an old dog new tricks. It’s so hard to change some one's mind set. Personally I have been trying to do that with the small traders we have in town especially in areas of Kikubo and Nasser Road. Changing their mentality of things is like waging a world war or cutting down a big tree with a bread knife. The "this is how I have always done it why change now?" attitude/mentality. Why do I need someone to tell me how to run my business!? I have had my experiences with them but then again we can’t fold our hands and seat back, sometime some patients don't even know they are sick and those need the doctor the most. The most important thing is our attitude and mindset. It’s what hold us back or propels us forward at rocket speed.

So whether you have 30k or 300m it's all going to boil down to how you work your mind around how to invest and multiply that money generating a new stream of income for yourself and others.


Jaluum Herberts Luwizza is Writer, Speaker and Business consultant with YOUNG TREP
 

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