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Best time to start a business is when you are young: Kirubi

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CK-Vivian
DJ CK, Vivian Green and Capital FM’s Chao/ Photo by Susan Wong

We know how hard it is to get a job after campus but that’s only if the end target of our education is to create employees instead of opportunity creators. According to businessman Chris Kirubi, the best time to start getting into business is not when every job application has been rejected (or ignored) but when you are in campus/college.

“I believe some of the best businesses are the ones you start with friends in college or campus. The issue of capital should not arise. Don’t’ take too much risk, after research, advice from friends and experienced people about your project, go ahead and implement your concept,” advices Kirubi.

“We can’t all be employed. Only a small fraction of graduates get jobs after campus and college. But there is no reason to give up. Use your knowledge to create opportunities which might create jobs for others.”

CK also urges parents and family members to support their younger family members especially if they want to get into business.

“The future is in your own hand. Self employment is a viable option. Seek experienced mentors, be consistent and persistent and don’t give up just because of a few challenges.”

The industrialist adds: “Almost everyone desires to be rich, and young people are looking to get rich as soon as yesterday.

The truth is that wealth is first and foremost, created in your mind. This is a revelation that Napoleon Hill unveiled in his book, “Think and Grow Rich.” It is also something that I can attest to; there is power in positive thoughts… so long as you follow through and put to action your brilliant ideas.

Personally, I tend to keep a pen and paper at my bedside. When I am resting, I often find that I get moments of clarity about what I need to pursue in line with what I feel strongly about. I must write them down and pursue these thoughts later or I will lose them.

Aside from your thoughts, there are a few key points I would like for you to think about.

If you think your business is a great one, then it should never run out of cash. You must first have sufficient capital, then find a way to keep a continuous flow of cash looping into the business and later on, scale your efforts into a bigger enterprise. This is the only way to ensure that you keep growing.

Like character, your financial wealth is defined by how and where you spend the little resources you have. If for example, you run a small business with marginal profits and are torn between upgrading your company car and branding your business… the deciding vote must be determined by the turn-around time on recouping your investment. Remember; low hanging fruits allow you to reach for higher goals in the medium term.

Most importantly, before you get into any venture educate yourself. I always say, it is better to have information and not need it, than to require it and not know it. Therefore learn the business and the market dynamics, understand the key players and how you will interact with them, and then make an effort to know the regulations governing that industry. You may also need to learn how to read financial statements as this puts the power back in your hands.

Until next time, remember that 10% of your time must be spent actively pursuing your most cherished thoughts and goals.

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