copied
The story is told of a smartly dressed banker who walked along a Nairobi street outside the institution he worked for. He got talking with a woman who always sold sukuma wiki and other vegetables in one spot on the pavement. The woman asked him to help her fill out a bank deposit slip. Over the next few days, the two formed an acquaintance and the man helped her with several transactions.
From these transactions, the banker learned about the woman’s huge bank balance. Astonished, he asked if all her earnings came from the vegetables she sold.
On learning that everything had been earned from hustling on the streets, the banker felt challenged.
He resigned from his job, bought a pick-up truck and is today a successful supplier of goat meat to several Nairobi entertainment spots.
Paul Gathu had been a teacher for 20 years, but was interdicted after running into trouble with his head teacher. With savings of only Sh40, 000, he went to Nairobi to start hawking fruits and vegetables along some city streets.
Customers’ doors
Within a week, he had specialised in vegetables popular with some residents of Asian origin in one upmarket estate. Over the years, Gathu would deliver these vegetables to his customers’ doors.
“In five years, I have been able to buy a pick-up truck and now supply several hotels, schools and hospitals with food,” says Gathu. In his estimation, he is worth at least Sh5 million.
These two examples illustrate a frequently asked question: Do full-time and street-wise hustlers get richer than professionals who hold regular and well-paying jobs?
James Kung’u, a certified public accountant and lecturer at Nyandarua Institute of Science and Technology, says some professionals can accumulate vast riches when they venture into fields that are in line with areas of their expertise.
“For example, video photographers and editors, lawyers, accountants and doctors often operate private enterprises profitably while keeping their regular jobs,” he says.
Kung’u says there is often a grave danger if employed people venture into businesses that require their constant supervision such as hotels and retail shops.
“This miscalculation could be the genesis of the street perception that people in suits and ties often make proud and poor investors unlike full time hustlers who have an intense personal connection with their clients,” he says.
Employed investors often leave their businesses to their spouses and other kin while they are busy at work and herein lies a big risk.
“Some customers will only come when the actual business owner is in due to his or her unique personality and charm, which are crucial factors in entrepreneurship. Sadly, this personal quality can never be replicated in one’s kin and so clients take off, dealing a blow to the business,” says Kung’u.
On the other hand, full-time entrepreneurs, especially the streetwise kind, have all their wits about them.
“Often, they see many opportunities for investment and can dirty their hands in practically any business.”
They are not constrained by time, work ethics or social class, which frequently conscript employed people to safer and socially acceptable investments.
Humphrey Mokaya, a banker with a micro-finance institution, says formally employed people often live in their employers’ dreams and image and forget themselves.
“On the other hand,” says Kung’u, “many self-made entrepreneurs with little formal education are often averse to consultancy of any kind and frequently flounder when their businesses reach maturity stage.”
He adds that in the event of market upheavals, entrepreneurs with a formal job and some education can change tack and incorporate new concepts and move on easily.
Sourcing credit
The sourcing of credit between the two kinds of entrepreneurs is also different.
“Whereas an employee with a steady salary only needs an employer’s guarantee to get a check-off loan, it is a different world altogether for street hustlers,” he says.
There are micro-finance institutions that specialise in these kinds of investors. They recommend that a few people band together in a small group and guarantee each other.
“When one of them defaults, other group members are not eligible for credit until the defaulting member’s loan is distributed among them and cleared,” says Kung’u.
In many micro-finance institutions, loan disbursement is not immediate and people repaying existing loans while saving at the same time can stretch their repaying ability and consequently put a lid on what they can comfortably borrow.
[SIZE=1][COLOR=rgb(226, 80, 65)][FONT=courier new]leteni maoni[/FONT][/SIZE]
ndume zimekaa ngumu i see. usijali leg-trail, most of them wako ndani ya employment bandwagon ile serious…ngoja wamalize mshahara ya muhindi watatoa maoni.
mmmh
If you are an employee working a 9 to 5,you are mostly working for the tax man and your bank.Your potential earnings will always be limited by your job.PAYE takes a huge chunk of your gross pay even before you see it,then second comes the lenders and their exorbitant interest rates.Mortgages, Car loans etc is what confines employees in the never ending rat race in life.This is one of the reasons why its very hard for employees to gain financial freedom as compared to business owners.
This is spot on.
True
an employee will always be a servant making money for the master and master paying him/her the way he wants. Ask kenya lecturers watakuambia. You cannot compare a servant with a person self employed
Time to ditch the comfort zone is coming very soon kama mbaya mbaya
shiiiiiih
Usiwahi ditch employment coz umeskia watu wa bizna are raking em millions, pia wewe unadai kudandia bandwagon ya ‘mr entrepreneur cool’. Boss utaungua hadi haga iwe dush mpararo…, always take baby steps, and have a fall back plan. Nimeona watu wakisare wira juu ya kuingia biz, halafu 2 years down the line…wanaanza kuulizia number ya former mdosi,/patel shah kama anaweza mchora waks tena.
The world over, economies have bn built by both efforts za employment na business working hand in hand.
So shikilia lane yako sambamba hadi uhakikishe that you have truly seen the light at the end of the tunnel.
#end of my rant. Asandeni sana ktalkers.
It’s modern slavery
There’s a lady hapo tu south B at the back entrance to capital centre that sells very good fish. Shida ni when you order you have to wait for 1hr + to get your Samak. She’s located between 2 kiosks, zero rent…taa ni ya solar anachagre hapo tu inje…she opens 3pm and closes at around 9.30pm.she doesn’t open on Sundays. You passby there and you’ll find people standing and find all sorts of cars waiting for their order. At one time I asked her out of curiosity, how many fish do you sell per day ? She dint think twice, kila siku nanunua samaki 150 kutoka Gikomba. Her selling price by the way is 350-550. Nilichapa hesabu quick quick nikaona hapa she does sales of 35k+ na with the almost zero stuctural investment kwa duka, kanjo, makaa, na the fish itself, she takes home at minimum 15k+ net…Habari ndio hiyo
Mama ale kanjo wakwende
Mama ale kanjo wakwende
Now you looked at her hustles when she was done with the uphill journey. Ask her how many years of trying other businesses have been wasted, the fights and struggles of the current one. Ask her the challenges. The big wig who threaten her biz or she gives her goodies. That one man she has to sleep with to keep that business in that position or the brother in law who is a ps somewhere.
But kenyans being kenyans never ask for that part because whatever he/she saw is making lots of cash and it’s worth the effort. You start your samaki kibandaski around prime areas in town and no one asks how much they cost.
I believe creating/working on a unique brand/ talent is what many guys never understand. Be it in self employment or employment, work on your brand such that it’s unique and you will see people fighting for your work. I have dealt with various guys in my field and those who have perfected on their hustles never come easy. Booked for the looked time and you will have to pay them Gold, but it’s worth.
The likes of wanugus and matheri thrived because the utilised their talents to the brim. Even hitler worked hard on making sure his people were united and fought to the last city.
Lets say usifute job kama side hustle haijapick. Na ikipick bado usisare wira