One of the greatest challenges I have faced in my time as an entrepreneur is what to do after a large paycheck. Surprised? I was too at first , and it's even worse if you have been waiting for that payment for some time. With money in the bank, you rationalise with yourself of the 1001 things that need to be purchased, and they all demand high priority allocation. Of course, this is a psychological condition that can easily be averted by careful planning beforehand. When it happened to me I tried to avoid the extravagance that accompanies large income inflows by investing the money as quickly as I could. When SoftLaw sold the laws of Kenya to the judiciary I discovered why having the government as a customer can be very rewarding. Relatively prompt payment, many zeroes in the payment, and a very appreciative customer. With our newly expanded bank account, we knew that we had to quickly invest the funds or we would be sucked into a vicious and wasteful consumption given our still Un...
Thoughts from a Kenyan entrepreneur passionate about startups.