BY WACEKE NDUATI-OMANGA
“I have Sh500,000. What business should I start?” This is a question I hear often from many people. I find it impossible to answer this question. Most entrepreneurs did not start a business because someone else told them what to do. They simply committed to a process of discovery. Human nature is such that we want a quick fix via someone to point out what we should do. We then do it, hoping for a fairytale ending. Unfortunately, that’s not how it works. Starting a business requires a deeper commitment to process, experiences, challenges and so forth. No one can point it out to you or give you a clear direction on what you should invest in.
So to the many people who write to me asking me about this, I cannot give you an answer. To you and those who continue to wonder where to start, all I can offer is what this process entails. Perhaps sharing experiences on the direction many have taken will help you get there.
START A BUSINESS YOU ENJOY DOING
First, it may help to identify what you actually enjoy doing. I don’t really have to like a plot of land to buy it, but business will require a staying power that can only be sustained by actually enjoying what you do. This does not mean you will wake up every day jumping for joy about going to work. There are some days you will not want to get out of bed. However, behind all that, you should fundamentally enjoy what you are doing.
How do you know you enjoy something? Time flies when you are engaged in that particular activity. You find yourself operating out of enjoyment of what you do, not rational outcome. This is also what may be referred to as passion, although many people have started businesses without knowing exactly what they were passionate about. They knew how to do something, they started it, and along the way they discovered what it is they really liked or what aspect they were passionate about.
While knowing how to do something may be a starting point for some, it does not mean that you should limit yourself to your formal experience. Just because you’ve been a lawyer all your life does not mean the only business option for you is to start a law firm. You can be the lawyer who bakes cakes. The communication skills that you used while practising law will come in handy in a different way.
To identify opportunity we have to let go of traditional titles. Even if you were a CEO of a top firm in your past life, that does not mean that you cannot start a garage if that’s where the opportunity is. I have a friend who used to be a banker and is now running a successful chain of salons. Growth is not by virtue of a title.
