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RULES OF INVESTMENT

Investing is close to the hearts of many, with the understanding that it is a smart move that has earned a lot of money to many people. P robably, the scary part about investing is where people are afraid of losing all their money with some not willing to engage in all the work that is involved to make money. B ut investment is not all about fear of risks and work. E ven though there are valid concerns about risks and the amount of work that goes into investing, there are things you can do and steps you can follow to get started on a long term investment plan. L et me take you through the steps of basic simple investing that can inspire a proper mindset that you need to succeed. Draw your personal financial guideline. For any investment, you need your plan clearly laid out, and with the following starter questions; a)  How much are you planning to invest? b)  What are you investing in? c)  Do you have sufficient information regarding the investment option. W hile on this, you must weig
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Money Saving Tips - Getting You Started

Everyone has a good intention when it comes to saving money, the problem perhaps is when one decides to start doing it. Many have not set money saving as a priority, and therefore usually attach it to some milestones first. For instance, they tell themselves that they will save when they reach a certain age, or when they get some promotions, or after they have completed a certain project. This is a fallacy. Developing healthy savings habit takes care of your future rather than your present needs. But no one wants his/her paycheck to be controlled by debts. Some of these tips will get you started well. 1.     Clear your debts. Debts are a great obstacle to money saving. You can adopt the debt snowball method to pay off what you owe; this is where you pay off your debts from the smallest amount you owe to the largest amount. Once you can pay off all your debts, your income is freed and you can begin to focus on the saving goals you have set. 2.     Check your expenditure on groceries. Mo

Identifying Business Opportunities

Entrepreneurs are meant create opportunities from obstacles. Entrepreneurship has therefore often come handy in solving some of the problems our communities face. A successful entrepreneur will therefore be able to spot new opportunities and move in to execute them by offering solutions. Here are some tips on identifying business opportunities to execution. 1.       Identify problems that need to be solved. Opportunities present themselves as problems. It could be as a result of an emerging technology or trend in your surroundings, or it could be a new product in town that people do not have an idea yet how it can be harnessed. An entrepreneur will need to research into the problem to figure out how he/she can offer a solution and create value as a result of the project. Screen and test wants of different people, since demands from people always vary. It’s therefore important to verify how your idea is going to help individuals with different expectations. 2.       Avoid shortcuts, but

Starting a Small Business

In Case you are doubting yourself on starting small, just remember that 98 percent of all businesses in Kenya are Small and medium enterprises (SMEs). You could be having a unique business idea, or you could be working towards financial independence, designing your career or probably just investing in yourself. These are some of the reasons one opts to start a small business. However, staying in business is not a smooth ride for any small enterprise, in fact it is estimated that only two third of businesses survive the second year in operation; and only half of these small businesses survive a fifth year. Therefore, beyond starting a business, one must have a plan to keep it. Here are some steps help you succeed in keeping your business. 1.     Research After identifying the business idea, try to balance it with existing realities. Try validation of your idea through research. Identify if there is need for your product/service, who you are planning to serve, identify other compan