Which is the greatest risk you have ever taken, financially? Niko kwa fix at the moment. Faced with a deal of a lifetime. Naweza wekelea doh mob ichomeke, ama niwekelee nikafunge with a massive liquidity event. What would you do bearing in mind that the odds are in my favor because I am a pro in that field? Na sio betting, that is for idiots.
Playing it safe has its pros and cons, the business environment in Kenya unaweza shinda “mark timing” simply because you didn’t take risks in business. Whatever path you take, at least consult widely but at the end of the day, ikuwe the decision is yours and yours alone. Also learn from your failures, I’ve been conned, tricked off my money but as long as I did something with clear intentions, I’m OK to live and fight another day.
On taking risks, nikiwa hustler, I once sighed a contract worth a few millions on condition I deliver 5,000bags of wheat monthly. Failure to reach the said amount they wouldn’t pay. I risked it all and ended up doing a good job. A month later price of wheat went down and since I was still under contract, I was making 300bob per bag from an initial profit of ksh 50. A cool 1.5m monthly.
I don’t mind risks because I know unaweza “mark time” kwa biashara ujikute umefika 60yrs, umesomesha watoi but you didn’t grow and nothing else changed in your life.
Pray and ask for Gods guidance before making a decision. All the best in all your endeavors.
The bigger the risk the higher the returns, if that is not the case tulia. There are no guarantees that you will get what is on offer if the risk is high so invest what you are ready to loose.
Some situations I do not have courage to write about. Sometimes I risk too much that when those risks succeed your heart cries internally.
If you can afford to loose the money why not? Otherwise you will be asking yourself what if?
There’s nothing like assuming risk. Minimize it completely. If it is out of your control, then go into the investment if you are ready to lose the money.
I took up a job in one of our counties, I poured all my money into that project,now am broke kama panya ya kanisa.Nahangaishwa ile mbaya.Every time kuja next week,am regretting why i didn’t follow your advise elders.
I have decided to risk half of my money. Considering the risk vs reward, I think a neutral approach would work best. If it pans out, I make out with a good sum, though not life-changing. If it fails, I will he grateful that I didn’t invest it all. What am talking about is likely to multiply my money tenfold in 3 months or less.
FUD vs FOMO. Invest only what you can afford to lose and persue an investment you COMPLETELY understand. Don’t rely on any “expert”, “connection”, relative or networking opportunity as a variable to your success. Even if you have a partner, go into the project knowing that you may very well end up carrying the project by yourself and be ready to write off the sunk costs of things go tits up.
A few years back one of the neighbours decided to convert their bungalow into a kindergarten wakaenda kurent everybody thought they were mad given wale Watu walikuwa wananunua na kujenga their kids walikuwa wanakaribia adolescence alafu the area was sparsely populated . To cut a long story short sa hii wako mpaka na secondary school.Ukiamua kufanya biashara you have to trust your decisions juu will be making so many
10X in 90days, please don’t jump on the hype train
Hii inanukia Crypto, karibu uwanjani
big risks come with big rewards
risk kitu ukilose hujinyongi
Beba mtu into the deal and share the risk.The person should be a risk taker too
With the counties, you have to whet someone’s appetite by giving them a cut. Usilie oh you won’t pay a bribe unless you want to remain in the same situation.
Hopefully, not cryptos. If it’s cryptos, be ready to lose if everything goes south. However, as you have rightly pointed out, the returns could be very good.
Calculated risk taking.
Brah… be ready to loose everything