This archive report was first published on 26 June 2021.
It's hard to believe that just a few years ago, digital media and news were not as widely recognized or appreciated as they are today. I feel fortunate to have been at the forefront of building some of the most successful digital newsrooms in the country from the ground up, and to have seen them become household names in the news ecosystem.
As the world becomes increasingly dynamic, it's essential to stay ahead of the curve and be willing to adapt to new trends and technologies. I draw inspiration from the story of Netflix and Box Office, where the CEO of Netflix was initially laughed at and dismissed by the CEO of Box Office, who failed to see the potential of streaming services and was blinded by the success of his brick-and-mortar business.
Looking back, I realize that I used to be risk-averse when it came to investing my savings. I would save money, but I would never invest it. I remember when a friend, one of the co-founders of Pesa Bazaar, told me about the potential of cryptocurrencies a few years ago, and I downplayed it as being too far-fetched. Now, I wish I had taken the leap and invested in Bitcoin during its recent surge.
When it comes to managing my finances, I follow the 50, 30, 20 rule, where 50 percent of my income goes towards settling my bills, 30 percent towards enjoyment and the things I love, and 20 percent is set aside for a rainy day. While this may not be practical in Africa, the message is clear: always save something for a rainy day.
One piece of advice I would give to anyone looking to start a business is to never attempt to do so immediately after losing a job. Instead, consolidate your savings, cut down on your spending, and look for another job. When you're back on your feet, start building your business on the side, and leave your job only when there's beyond reasonable doubt that your side business is fully stable.
Finally, I believe that being reliable and showing up for clients, networking events, and even for your family and friends is invaluable. While it's essential to put yourself first, being someone who can be counted on is immeasurable.
