Esther Masanyangila is an Advocate of the High Court of Kenya and the founding and managing partner of Masanyangila & Associates Advocates which is based in Nairobi. Her business involves legal practice with focus on corporate commercial, litigation and conveyance.

Trading in shares appears to be very profitable. But you must have adequate trading skills and information if you don’t want to lose money. I once lost a substantial amount of money after investing in shares. I had very little knowledge on how securities work. Always research before you put your money in any business or passive investment idea. It will save you money, time and heartache.

I have not experienced any major loss in my legal practice. But some time back, I opened a boutique for ladies clothes out of which I ended up losing money. It did very well at first, but because I did not have proper business systems such as bookkeeping to run it, it was run down. I closed it down after 9 months.

I learned that business requires very close supervision. But sometimes losses can be inevitable. It is prudent to accept when a business is no longer profitable, and to stop investing in it when it is not showing any signs of recovery.

Saving money requires discipline and restraint. A few years ago, I used to save my money through bank accounts. But I always found myself withdrawing savings to pay for my impulse purchase bills. I did not have the discipline not to touch it.

Currently, I invest my savings in the money market periodically. I also set financial goals and follow a budget. Further to that, I have automated my money transfer to my savings accounts and to the Saccos that I am a member of to ensure that money is deposited at the right time.

My line of business relies quite significantly on referrals. In my practice, I have been a major beneficiary of referrals. All these referrals have taught me the essence of customer satisfaction. Always prove yourself beyond expectation. Learn to put your best foot forward in every task you do.

And maintain healthy relationships with every customer that you interact with. That small customer you consider insignificant could be the source of a major multimillion referral.

I am where I am today because of mentors. These are people who have walked the road I am walking today who were kind enough to mentor me and show me the way. You will never go too far down the wrong road if you have a mentor. I have also learned that tenacity, consistency, prayer and a lot of patience works. Search and you will never find shortcuts to success.

Instead of wasting time looking for the quick kill, define your own success and go for it. You will never do business alone. There will always be people. People are the business.

I was in a 10-year relationship; How do I get my share of property we acquired?

Invest in your relationships with them, be passionate about what you do, and the money will come. Success is not for a few chosen people so stay determined, stay consistent and stay on course, it all works out in the end.

I wouldn’t say being in business is always better than being employed. This is despite running my own legal enterprise. There will always be security in employment and lots of uncertainty in business. Before you choose one over the other, identify your strengths, financial capacity, and long term goals. Align them with each of the two options and pursue that which fits the most.

Personally, I like the freedom that entrepreneurship gives me. I am able to manage my schedule and pursue more than one thing at any given time, something that was difficult to do when I was in employment.