How To Get Rich

I haven't published in a while (mainly seeing as the BD column is on hiatus), but I wrote a very long Facebook post, so why not just re-publish here?

1. Stay calm (and study the situation very keenly) when all around you are losing their heads. Yes, be as mad as you want about KQ and its losses, but look at the situation to your advantage. Will the airline be allowed to collapse? Who knows, but would the government invest close to a hundred billion shillings in JKIA as a hub (predicated on a globally competitive airline) and let it fail?

2. Be clever about money(1) Money is a commodity like any other. Buy low and sell high. That means, don't be afraid to borrow, but only at the right price. If you borrow at 10% and get returns of 20%, you're a genius; if you borrow at 5% for returns of 3%, you're an idiot.

3. Never, ever sell yourself short(1). Set a price on yourself (expertise and time) and don't apologise for it. If you believe you're worth that amount, and can back it up with delivery, then no one should tell you otherwise. Don't do discounts - you'd rather give a free service (and be clear that it's pro bono) than get people used to a cheap you.

4. Never, ever sell yourself short(2). Don't accept to work in exchange for 'building your reputation'. Otherwise, go and tell Mama Mboga to give you free veggies and you'll put her in a blog. Tell your landlord to let you live for a month in exchange for a good mention.

5. Be clever about money(2). Clichés are called that for a reason. Like that one to not have a Land Rover or Land Cruiser when you still have a landlord. There's a friend of mine who'll only be taken seriously by his clients if he drives a 'big' car. At the same time, interest rates on mortgages are in excess of 20%. He's bought a Land Cruiser, and the amount of business he's transacting means that he may actually buy a house soon. In cash.

6. Always be aware of risk. Yes Kenya Airways (in number 1 above) may not collapse. But nothing stops the government demanding a severe shareholder haircut in return for a bailout.

7. Read, read and read some more. When you're tired of reading, take a rest and read some more. Nothing is irrelevant. You don't care about healthcare in West Africa? Congratulations, but that's a factor in KQ's loss. The Iran deal is some esoteric news item (and it's much more fun to discuss Vera Sidika or Ruto vs. Ruto)? Then don't complain about fuel prices).

8. Most information is available, and free. The internet now costs less than a cup of tea in a kibanda (and a smartphone less than concert tickets for two). More than that, with social media you can reach almost anyone. Just be polite and patient, and you will be amazed how much people want to teach.

9. Be prepared to take a step back. Who says you have to be the HNIC (Head Nigger In Charge, if you're asking)? You'll be surprised at how much you can profit by being a junior partner.

10. Understand the power of leverage. You have a thousand bob? Leverage that to three thousand. Have a million? Leverage it to ten million.

11. Language (especially in business) simply obscures. Most concepts are very easy to understand, if you open your mind. And don't be the idiot who uses big words to obscure simple ideas. 'The bourse shaved fifty basis points, grazing inter-day lows on the back of profit-taking by market players' is meaningless gobbledygook.

12. Think big. What's unimaginable in ordinary situations, such as a billion shillings, is less than ten million dollars. Which, in global terms, is nothing. There ate some bankers who will not bother getting out of bed to discuss a mere ten million bucks.