Thursday, May 9, 2024

Lisette Gachanja: My 7 ways of handling money and creating wealth

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Lisette Gachanja runs an  Adventure business in Kenya. She is an Adventure Consultant on Outdoor Training and Adventure Therapy. She currently works with numerous organizations and institutions in developing and facilitating, leadership, corporate and adventure training programs though Experiential Learning and Adventure Education.

Biggest milestone: Abandoning the conventional to pursue a little known career direction has been my biggest and best step. I quit my job at 25 and everyone expected for me to have this revolutionary idea that would bring in big cash to justify my move. When I explained my passion, I could see their worry, mostly, because they couldn’t see a future in what I wanted to do. I am now happy and fulfilled and that’s what really matters to me. Search within and find your passion and grow it because without excellence it will always remain a hobby. No one will invest in you if you do not believe and invest in yourself.

Saving method: I follow the parable of the talents. I don’t let my money sit somewhere and grow mold. My parents have always encouraged me to be entrepreneurial and so I try to find ways to use what I have to bring in more. One way that is accessible to most of us is growth through chamas and small investment groups. It is hands on, can track gains and losses, have accountability partners and can spread risk evenly. You have to be careful though and choose people you can trust because bad management has killed a lot of such groups.

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Biggest money mistake: I used to let trends and the success of others dictate my decision making in investments. I have now learned not to be swayed by the ‘get a plot now’, ‘invest in a fleet of this’, ‘register in that scheme’, kinds of investments, especially if I do not have the time, interest and capability to maintain them. Just because it works for someone else does not mean it will work for me. Neither will it necessarily work for you.

Entrepreneurship vs employment: A year ago I would have said entrepreneurship, hands down, but now I see a case for both. If you can have your cake and eat it too, go ahead! Some people are really good at managing themselves and have enough motivation to be self-employed. But others prefer to belong to a bigger system that guarantees them certain things. None is wrong – work hard to be great at whichever you choose and most importantly, let it fulfill you. Always remember to never allow yourself to be mediocre.

The key to growth: I have learned to invest in people, not things. The big picture for me is not only to improve my skill set but that of others too. Individuality alienates but team work builds. Over the years, I have grown through people who were willing to share, and I want to continue that trend. I wish more and more people can come up with wholesome ideas that genuinely benefit those around them. This is how we can all grow.

Secret to making it: It is all about separating mediocrity from excellence. Doing something because you love it is great but if you do not make an effort to grow in that thing and become better at it again and again, you inevitably fall into a comfort zone that is hard to get out of. Challenge yourself! I have also observed that as Kenyans, we are really good at coming up with ideas and being the first at doing something. But at some point, we never earn the fruits of our ideas because we allow others to take on our ideas and become better than us at them. This is because we don’t put adequate effort, consistency and maintenance for the long term.

If I could go back in time: I would look out for more fruitful networking opportunities, and build relationships that can accelerate my growth faster.

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