How can one explain to so many Ugandans that money as capital is way down the list of things needed for anyone to succeed in any business venture?
I have interacted with many adults and young people who will often say, ‘oh capital has been my only challenge in succeeding in doing something meaningful’.
Many people have varied figures in their heads they assume they need to succeed in business and most of those figures have not been earned by them in life.
If money was way up there, why would many people inherit so much money and yet die poorer than those that never inherited anything.
Why would an MP who earns more than Shs30m per month become broke a few months after losing a seat in Parliament?
Why would they run around asking the President to offer them an eating opportunity?
Why would someone steal so much money from an institution, be it in private sector or government but still die poor?
Why would people who have stolen so much fear to lose a job if money was everything?
In Asia, research has showed that money capital accounts for less than 15 per cent of what is needed to succeed in any type of business venture.
If you intend to set up say a roadside stopover in Mubende for example, you need to deeply convince yourself beyond doubt and it is only you that is deeply convinced.
When convinced, you will endure the pain that comes with saving for the land first and the land will then deepen your hope. You will endure the risk, the public scone called joy or hope killers.
That deepened hope will push you to work hard and save for the building bit and nothing will stop you, people will steal your cement but you will still push on.
When ready, that deepened hope will make you work long hours, you will cry but wake up with hope again, many times the public will not even know about that pain. You will not care anyway.
Just because you have suffered to achieve that step, you won’t just throw away money.
You will have understood it is value and yes, you will avoid liabilities really hard. You will know how to deal with joy killers.
Imagine at the time I started, if someone had given me Shs200m, would I have achieved the few things, we have been able to do? Never.
Business has principles and those principles are learnt through trials and tribulations especially when you start from the baseline like myself.
Success must start deep in your head and mind not even in an MBA class, reason very few MBA graduates actually succeed in business.
The writer is an investment expert and ceo at Great Lake safaris and Uganda lodges