Business mogul Chris Kirubi has revealed how cartels forced him out of the paint manufacturing sector and how he explored other ventures as he advised young people on how to learn from their failures.
“One major challenge I encountered when I embarked on the manufacturing of paint was when I found the sector was run by cartels where no big contractor would buy my paint,” Kirubi said in this week’s #AskKirubi episode.
“They were threatened by the big boys that if they bought my paint they would not get better deals next time,” he added.
Every Thursday, the business magnate spends three hours to interact with the young people using the hashtag #AskKirubi on Twitter. The videos are also uploaded on the Capital FM website.
“I honestly did not know what I was getting myself into but I was determined. In the last two weeks I have gotten over 200 questions and this has just proved how much the young people are yearning for information and advice to move in the right direction,” he once said on the website.
This week, he revealed how he faced a challenge in stocking his paint product as nobody was not ready to take them up.
“The few who took my paint were those who were bad boys and could not pay me and by the time I went to them they had finished the project and had walked away so I ended up with so many debts,” he continued.
“I learnt: you fail, you get up and you walk. You move on. I had the proceeds from the assets and some land that I still hold, so it wasn’t a total disaster. I moved on to new things that I specialised in which gave me the opportunity to succeed in producing other products,” he said.