Money abhors those who get it and just keep it
What you need to know:
- I believed beyond a shadow of a doubt that I would succeed. Clients were there. Competition was virtually non-existent, and I was this brainy, young gentleman in black suits. I knew it all.
- In times of desperation and dead ends, one must be creative to keep the channels of circulation for money open. Permanent failure happens when these channels close.
- We can choose to see our challenges as obstacles that will cut the circulation of money, or as opportunities to enhance our creativity.
True entrepreneurs do not operate solely for profits, but also to add value to society and to their clients.
As a student entrepreneur, I believed there were three things that made the world go round. These were power, money and sex, with money cutting across the other two.
To many, money has its own value and meaning. To entrepreneurs, it's a means to achieve their purpose and make the world a better place. In my impatience to be recognised as an entrepreneur, I forgot to learn the basics about money.
The very first time my business — which was running a small stock brokerage agency in Webuye, with a branch in Nairobi — failed, it wasn't because I didn't have capital or there were no clients, but because I was clueless on what money was, and I was greedy.
MONEY IS A MEDIUM
The stock market business was big back then. KenGen had just listed on the NSE, and I was the only agent for three brokers in the western region.
Fresh from campus, my ambition was unbridled and my energy contagious.
I believed beyond a shadow of a doubt that I would succeed. Clients were there. Competition was virtually non-existent, and I was this brainy, young gentleman in black suits. I knew it all.
No one could advise me. “I understand the language of money and how to make it,” or so I thought.
My attitude in essence, when I look back, was aimed at failure, and failure did come.
They say that the love of money is the root of all evil. I would beg to differ. In my experience, money is simply a medium that channels and enhances who we truly are.
SALVAGE THE MOMENT
Strong men channel the money for the good of society. Weak men channel the money for their own selfish gains.
Through failure, I have learned five key lessons that every entrepreneur must learn to succeed.
They say money follows money, that money begets money. To attract money or to be in its channel of circulation, one needs to be creative.
In times of desperation and dead ends, one must be creative to keep the channels of circulation for money open. Permanent failure happens when these channels close.
Creativity gives an entrepreneur the chance to salvage the moment, and change the fortunes of the business.
CHANGING SOCIETY
The second lesson I learnt is that money is attracted to an entrepreneur who has a purpose and focus, a purpose to succeed and achieve where others have failed.
Money will eschew realms that are full of doubt, fear and laziness, and will not circulate in such an environment.
Thirdly, money will flow in an environment that is aimed at changing the society for better. A good deed does not go unrewarded.
This is a lesson I saw in philanthropists like Bill Gates and Melinda Gates. Through their foundation, they have changed diverse societies across the world with billions, and they have still more. The more they give, the more they get.
Back home, Safaricom has espoused this with its keen focus on community-based projects like the Lewa Marathon that works towards nature conservation.
MONEY CORRUPTS
In return, it has become a brand that touches people's hearts and gets them spending on it, hence its amazing profits. This is a lesson every entrepreneur seeking success must look at.
What you think about yourself, your business, your employees and your clients will determine whether money keeps flowing through your ecosystem or not.
We can choose to see our challenges as obstacles that will cut the circulation of money, or as opportunities to enhance our creativity.
This lesson changed my entire view of the challenges and problems that I have faced since then.
It is said that money corrupts weak souls. This is true, especially of those who aim to simply amass huge amounts without letting it circulate within their circle of influence.
MONEY MUST MOVE
We may seek to have savings, and boast about how much we have. However money abhors those who get it and keep it to themselves. The rich get money and invest it, to get more.
The rest of us get and try to keep as much as we can. An entrepreneur must always be a conductor of money in his or her realm of influence, not a magnet that won't let it circulate.
Money needs to move to create more, and empower more people, who will send it back.
Any entrepreneur who seeks to change the world for better must understand these five tenets about money. I learnt the hard way.
I wish I had mentors to point me in the right direction. However, experience is the best teacher and I hope I can mentor others better.
Twitter: @SokoAnalyst
