How to invest for a safer tomorrow

Part I


The sun shines on those who are standing before it shines on the people kneeling under it, is a popular saying.

“Don’t be fooled by the calendar. There are only as many days in the year as you make use of. One man gets only a week’s value out of a year while another man gets a full year’s value out of a week,” said Chris Richards.

Such inspiring reflections remind us to make use of our time in life and make it count.

On 24 March at the guild general assembly, the guest speaker, Mr Paul Amoru, added that our life at the university is a journey in transition, which needs to account for its value.

In this article, we shall get some tips on how to invest and exploit opportunities that insure our future.

Build social capital

Creating a successful business lies in the social capital. The university is full of people from all walks of life. Create interpersonal relationships and build a vast network from them because these people are vital for the marketability of your business.

They also come with referrals that may help to boost exponential growth of your business.

A key aspect that proves to be helpful in the long run is building trust and confidence in your clientele. This constitutes the bedrock of a successful business.

What’s your idea?

An idea is    roughly a mind picture of what you think you can invest in. This idea of yours has to be practical and economically feasible. Essentially, it should fit your pockets and have an anticipated level of success. Most times, individuals source their ideas from financial advisers or personal experiences that manifest a gap in demand to be exploited.

However, since this is crucial, you have to give your business idea total consideration. This means that your research must be conclusive to convince you enough to pool your resources.

I remember earlier this year, before I invested in stock trading, I spent long hours trying to acquaint myself with the requisite knowledge so I could not go on a wild goose chase. So, invest time into researching your idea to make it feasible.

Sourcing for capital

You will need to draw a budget for your business venture. To increase your resource envelope, you have to cut on personal expenditure so you can pool more finances. Buy only necessities and avoid spending on luxuries vis-à-vis stuff you can live without.

If you must, join a micro-credit union also known as a SACCO. These offer the best alternatives to interest friendly credit, which can be tailored for payment according to your projected growth.

You may also consider seeking out an interested partner so you can withstand the shock of loss and spread risk while earning at the same time.

Other sources can be tapped from the Youth Livelihood Fund, run under the auspices of the Ministry of  Gender, Labour and Social Development.

The target beneficiaries eligible for this category are unemployed youth from tertiary institutions, among others. No interest is required for this money, but you have to pay it back within 12 months, failure of which amounts to a 5 percent surcharge.

Employ some of the above tactics to kickstart your business venture.

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