Connect with us

Personal finance

Five ways to become a billionaire (without education)

The richer you are the further you go away from your business (the more you disassociate self from the business) but the poorer you are, the more you want to identify with your business

Published

on

A blog post that has been doing the rounds on blogsphere and social media since 2015 offers useful insights on how one can easily become a billionaire even without the basic of education.

The post is a must read for anyone who is ambitious enough and wants to become rich or die trying.

It refers to Fountain Enterprises Programme Founder and CEO John Githaka, who says he was so ambitious from childhood that he managed to join the only secondary school he ever wished of joining (while everybody selected three schools, he only did one school), went to the university he dreamed of and pursued the career he ever wished. But after becoming an architect (the only job he knows he could make money without struggling) he realised that still he didn’t have the clout and clamour of becoming a billionaire.

He wanted to make more money. So he listed down 10 billionaires in Kenya. The likes of Njenga Karume (now deceased), John Michuki (now deceased), Chris Kirubi, Mwai Kibaki, James Mwangi, etc and embarked on a study about these people. His main aim was to discover what happened with them.

When was their turning point? What did they discover? What do they do? What don’t they do? Obviously, these are normal men, with normal upbringing and faced the same challenges as their peers but there came a time when the broke loose from their peers and ended up becoming billionaires. So in three years, he tried and met nine out of the 10 billionaires just to try and discover them.

After interacting with them, the post says, he found five things that they have in common that made them billionaires.

The five things are:

1. They Understand The Power Of Many (Numbers)

The richer you are, the further you go away from your business (the more you disassociate self from the business) but the poorer you are, the more you want to identify with your business. Successful business people do not have “my business” they have “our business idea.” That’s why when you go to a place like Silver Springs Hotel (which is associated with Kibaki), chances are some employees there do not know who owns the place and have never seen him/her.

But when you go to a poor person’s business, that person is always there – worse even as the cashier, accountant, attendant, etc. The trick of business success is in numbers not in self. As long as you have a personal business called “mine”, then be sure you are headed to poverty. People die but companies don’t die.

2. They Are Serious Borrowers

Borrowing money is their cup of tea and their signature. If you have never borrowed money, you will never lend money. And can’t lend it, if you don’t have it. A bank is a broker between the poor and the rich. The only place where the two meet is in a bank.

The poor brings the money and the rich takes it. A poor person saves the money because they have more money than their thinking capacity.

So they keep the money there so they can go and think what to do with it… Rich people come to pick that money because they have many ideas than the money they have.

READ: Former Uchumi CEO Julius Kipngetich joins Jubilee Insurance

So they come to pick that money to go implement those great ideas. Only poor people operate savings and fixed deposit accounts. Fixed deposit accounts are for the living dead. People who undertake and commit that they will not think about any idea for that money until the expiry of that period of time, and if they end thinking about what that money can do, then they will be penalised. Rich people operate current accounts. Therefore, a bank exists purposely for two reasons:

A) For the poor to bring in the money.

B) For the rich to come and take it away.

Banks make more money from borrowers than savers. Hence, they respect the former more.

READ: Special things that millionaires do that most of us don’t
3. They Have High Level NETWORKS!

These people as explained in the first 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 needs a lot of travelling 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;

1. A Driving license (because they will own a car – for them it is criminal to be seeing cars everyday but never own one.)

2. 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 Ksh 30, 000 and find it in China at Ksh 800, your language and ideas change.

And you must know how to swim because you are going to have fun and relax.

4. 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 there. 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. 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 the fertile land. They simply know where to put their money and where not to put their money. They understand the current business trends and make business decisions with this in mind. If you bought a plot five years ago at Ksh 500, 000 you are worth nothing.  Five years later,  that will be worth Sh 5 million…the only way you can realise that money is by selling it or borrowing against it… (Remember poor people don’t borrow neither can they *$#@damn sell it). A rich person will invest that same money somewhere where it will be worth Ksh 200 million within the same period of time.

That’s why you find a two-bedroom house rent varying from Ksh 2,000 to Ksh 80,000 or even more from one place to another. Or a cup of tea ranging from Ksh 5 to Ksh 500. 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 Ksh 2,000 rent for a two-bedroom house has more problems than his colleague collecting Ksh 80,000 for the same house elsewhere. While one has to literally come collecting payments at 4am 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.

ALSO SEE: KTN reporter quits to take up county job

While one can even bargain with the tenant about the rent, the other is fixed, and you either pay or leave it. While one regardless of the cheap rent has fewer tenants, the other has a problem of too many tenants coming to look for housing. Same with the tea business. The one going for Ksh 5, the cup is bigger than the Ksh 500 one. Yet the Ksh  5 one can even “choma” you if you are not full or you can even pay later if you don’t have cash. Unlike the Ksh 500 one. Chances are the Ksh 5 bob tea businessman 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 1st among the poor.

Conclusion 

A Poor (POOR) Person Is One Who:-

P- Passes

O- Over

O- Opportunities

R- Repeatedly.

Business Today is the leading independent online business website in Kenya. Started in 2012 by a veteran business journalist, it has a huge following both in Kenya and abroad. It covers various business and related issues. Email editor at: [email protected]

Advertisement
1 Comment

1 Comment

  1. samuel mutugi

    January 13, 2018 at 10:57 am

    Its true

Leave a Reply

Your email address will not be published. Required fields are marked *

News Updates

Economy24 mins ago

Govt to merge six financial agencies to form mega bank

According to the plan, the new agency will become a one-stop shop for loans from the Government ranging

Politics1 hour ago

Win for MCAs in fight for fat pay

They claim the salary capping has negatively affected the effective functioning of the 47 County Assemblies and County Governments

Opinion7 hours ago

Align Kenya’s political system with global standards

There is need to ensure that our system is in line with international best practice especially as they relate to...

NEWS8 hours ago

Kitui County embroiled in models ‘sex scandal’

At least 16 models have dismissed the crowning of four winners at a beauty pageant held last month

NEWS8 hours ago

Kenya not yet fully a free democracy, new report says

While a full report on the country's performance is not yet available online, a summary of the report notes that...

NEWS10 hours ago

Family of five perishes in Juja inferno

Police said a woman, three children - all aged below 10 years, and a man were found early Tuesday morning

NEWS10 hours ago

Americans urged to support conservation

Conservation of nature in many countries in Africa contributes significantly to sustainable rural community livelihoods

NEWS1 day ago

It’s business as usual, Mike Sonko says

He dismissed reports that Igathe called it quits last Friday following disagreements arising from implementation of key projects and award...

NEWS1 day ago

Police mum on theft of State House furniture

Nakuru OCPD Samuel Obara told the press that only police headquarters in Nairobi or State House spokesman Manoah Esipisu can...

NEWS1 day ago

Uncertain future for 100 police officers recalled from NTSA

The Director of Personnel at Vigilance House, the Kenya Police Service nerve centre, Boniface Maingi asked the commanders to send...

Advertisement

Trending