Josh Fernandez is the founder and CEO of Web In Motion – The video animation in Kenya company (TVAC).
Biggest Money Mistake: Money mistakes in business are common. In fact, over the period that I have been in business, I have made numerous mistakes that have concluded in derailing the intended growth of my business. There was a time I used my business account as my personal account. This meant that I had difficulties separating funds meant for my operating capital and business expansion from the funds meant for my personal utilities. Nevertheless, my biggest money mistake occurred sometime back when I lost approximately Sh. 1.85 million worth of business in a span of two weeks. I went back to the drawing board and examined why I had lost such business and what I could do to prevent similar heavy losses in the future. I have also learned that you must never bank on what has not been banked yet! In business you not only learn from the mistakes of your peers, but from your own mistakes too.
My saving method: To be honest, I do not use any of the traditional saving methods such as piggy bank saving. Instead, I prefer to use a personal financial advisory that holds my money either in investment or personal development projects. There is also an entrepreneurs’ group that I am a part of that has helped me shape the way I use my money by launching me onto fresh investment opportunities. Previously, though, I was all about spending every coin that came my way in ways that I shouldn’t have.
Entrepreneurship versus employment: I do not advocate for one against the other. Instead, I advocate for love! Love what you do and who you are in your career. Do not fall into the current wave of becoming a boss. Not everyone is cut out for it! You must understand that entrepreneurship is a calling. If entrepreneurship isn’t in you, don’t force it by launching side hustles that only eat up your sweat. Serve your employer to the best of your ability. Also, if you decide to take the jump into the world of business, be ready for a very curved, up and down journey.
Secret to making it: Persistence and consistency is the key. And it all starts with the little things you do. Is it a three-week training program at the gym? Don’t miss a day. Is it reading every night? Don’t miss a night. These little things build habits that propel you to be persistent and consistent in your pursuit of wealth. You must also learn the skill of networking and building bridges. Reach out and surround yourself with people who are already where you want to be financially. Personally, I have surrounded myself with a host of game changers who don’t put me down or make me feel as though I am not cut out to be as equally successful.
If I could go back in time: I would seek after mentors and business coaches. This is something that would have cut the time I took to learn the ropes before breaking even by 90 per cent. I would also be better equipped to follow on one course until I am sufficiently successful instead of spreading out my tentacles beyond what I can manage.