3. Networks
They have high-level NETWORKS. These people as explained in the 1st point believe in the power of many. As a result, they have many like-minded friends, who can be of benefit to them. They have friends all over. Rich people have no age, tribal, geographical or gender boundaries. It doesn’t matter who or what you are as long as you are of value to their ventures. Building such networks need a lot of traveling and interacting with people. People never get rich in their hometown. Somebody who dreams of being rich regardless of their age or status must have a driving license (because they will own a car- it’s criminal to be seeing cars every day, but never own one), A passport (because you must travel widely to expand your networks and to sharpen your mindset- if you have been buying a suit in Kenya for 30,000 and find it in China at 800, your language and ideas change. And you must know how to swim because you are going to have fun and relax.
4. Risk Taking
They are Great Risk Takers. As long as you avoid taking risks, you are headed to the grave a poor fellow. Taking risks is like walking in the dark, you know where you are going but can’t see it. Better still you are more confident and secure when you are accompanied than when alone. The more people you are the more secure hence the first point. Risk taking is about numbers.
5. Spirituality
They have read the Bible. They understand and make use of the parable of the Sower. The seed is the shilling. They put the shilling on fertile land. They simply know where to put their money and where not to put it. They understand the current business trends and make decisions with this in mind. If you bought a plot 5 years ago at 500,000, you are worth nothing 5 years later, even if it will be worth 2M. A rich person will invest that same money somewhere where it will be worth 2B within the same period of time. That’s why we find a 2 bedroom house varying from 2000 to 8000, or even more from one place to another, or a cup of tea ranging from 5 bob to 1000. Yet when you ask all these business people, you will discover that each of them decided the price. Why the variance? They know the value chain. In business the higher you go the cooler it becomes and the lesser the pressure. A landlord collecting 2000 for a 2 bedroom house has more problems than his colleague collecting 80,000 for the same house elsewhere. While one has to literally come collecting payments at 4 am every 1st day of the month (lest the tenant escapes) the other’s money is safely banked in his account even before the month ends. The former can even bargain with the landlord on rent, while the latter is fixed you either take it or leave it. The former regardless of the cheap rent has few tenants; the other has a problem of too many tenants coming to look for housing. Same with tea business. The one for 5 bob the cup is bigger than the one for 1000. Yet the 5 bob one can even add you more tea ‘choma’ if you are not full, and can even pay later if you have no cash. Unlike the 1000 bob one, chances are the 5 bob business doesn’t even have a bank account or goes to save, and he does everything in his business.
Know where to put your money, create value for your cash, don’t battle with market prices. They are not your limit. It’s better to be the last among the rich than to be the first among the poor. A poor (POOR) person is one who Passes Over Opportunities Repeatedly.
nice article though religiously biased.
Nice article , in reality FEP is a scam just like many others. When was an AGM last held? How do the investors get updates on how the company is doing? All they get are requests to invest more in the sinking ship. Its a scam.
The only wealth creation principles in Kenya is to steal. FEP is just like Banda Homes, Deci and many other scams. The only people who get rich out of it are the so called founders. Prove me wrong on this one.