October 8, 2025 • 43 mins
This week, The Mid Week Tease features Susan Wanjiku, financial educator and founder of The Legacy Hub KE and She-E-O Africa. In this part 1 of our conversation, Susan opens up about her journey from employment to entrepreneurship and the financial shock that came with losing a steady paycheck. She shares real, relatable lessons on:
“Smart Money Strategies for Entrepreneurs & Freelancers”
🗓 Saturday 25th October | ⏰ 9 AM – 12 NOON | 💻 Virtual Session
🎟 Tickets: Ksh 1,000 | Available here: https://legallycluelessafrica.hustlesasa.shop/?product=69637
Join us as Susan breaks down practical money systems that can help entrepreneurs and freelancers thrive — even with irregular income.
🔗 Links:
- Managing irregular income without panic
- The mindset shifts that turn creatives into business owners
- Tracking your money (and why even Ksh 100 matters)
- Building systems that make your finances work for you
- Separating business and personal money to regain control
“Smart Money Strategies for Entrepreneurs & Freelancers”
🗓 Saturday 25th October | ⏰ 9 AM – 12 NOON | 💻 Virtual Session
🎟 Tickets: Ksh 1,000 | Available here: https://legallycluelessafrica.hustlesasa.shop/?product=69637
Join us as Susan breaks down practical money systems that can help entrepreneurs and freelancers thrive — even with irregular income.
🔗 Links:
- Newsletter signup: www.legallycluelessafrica.com
- Instagram: www.instagram.com/legallycluelessafrica
- TikTok: www.tiktok.com/@legallycluelessafrica
- YouTube: www.youtube.com/c/LegallyCluelessYoutube
- Share your story: forms.gle/kMn7Wae5N563JFGQ8
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Welcome to the midw te's with me adele Jangle, where
I share some random and not too random thoughts on things.
Speaker 2 (00:10):
And in this episode, I want to talk about something
that I think every single entrepreneur and freelancer should hear,
which is how the heck to build financial stability with
irregular income? You know that's the bottle, isn't it. I
have been an entrepreneur for six years now and that's
(00:31):
one of the headaches, right because first and foremost, there's
no money coming in every twenty fifth of every month.
Speaker 3 (00:38):
Right.
Speaker 2 (00:39):
We left that in employment. But you know, the roller
coaster when it comes to income can be very real.
So one month the invoices are flowing sweet and smoothly,
and then the next you're wondering, here will I manage
to pay the salaries that I have to? Will I
manage to pay myself? Will this business cover overheads? If
(01:00):
you're a freelancer, will this business make sure that I
can meet my basic but very important monthly bills? So
back to the question, how do you build a sense
of just financial calm when your income is unpredictable? How
do you move from survival mode to just like sustainable
(01:24):
success and come and I thought that this question is
important enough for us to base an entire wellness talk
on it for all my entrepreneurs and all my freelancers.
And I thought one of my favorite money educators is
the best person to be the speaker. Her name is
Susan Uanjiku, and she's been on the podcast before, but
(01:47):
she's also led I think two wellness talks for us before.
We've done one on investments, we've done one on budgeting,
and now this one is going to be focused on
guiding entrepreneurs and creatives and freelancers to make money that lasts. Okay,
So it's on the twenty fifth of October. It's a Saturday,
(02:11):
starting at nine am running till twelve noon. It is
a virtual so wherever you are in the world, jump
in and Susan is going to dive into deep practical
strategies for managing irregular income and budgeting smart and investing confidently.
Let me tell you some of the things she's going
to talk about separating business and personal finances. That sounds
(02:35):
very easy and straightforward, but it's not. She's also going
to be talking about budgeting with unpredictable income. A lot
of us feel like, we don't even need to budget
because you need predictable income to budget. No, you do not, right,
She's going to put us on to how to do that.
She's also going to help us start thinking about how
to build multiple streams of income from your business or
(02:58):
from the skill that you've based your freelance career around,
because that also can feed into sustainability. And I love
this one so much because it's something that I've made
progress with in my own business. She's going to help
us invest. It is possible to invest even with irregular income.
(03:19):
Another thing she's going to talk about, which for me,
this one was like a personal request because I have
made little to no progress on it. Retirement planning. For
entrepreneurs and for freelancers, it is possible, especially now. They
are tools for us and she's going to guide us.
One thing I like about Susan's talks is she gives
(03:41):
practical tips and even templates. Sometimes she gives us templates
for free Imagine. So the wellness talks are designed to
be super subsidized in cost and to be virtual so
that you have little to no excuse as to where
you did not attend, so it only costs one thousand
bar and it is virtual, so when you buy your
(04:03):
ticket closer to the twenty fifth, our events lead will
send you all the registration details. Her name is Mercy.
In the lead up to our wellness talk on the
twenty fifth of October, I thought, let's have a conversation
with Susan. Let's bring her onto the midwiek TI's We
had a two part conversation. What you're going to listen
to is the first part where she shares her own
(04:26):
personal transition from employment to entrepreneurship. That was a slap
in the face. It was a shock, it was not planned,
losing guaranteed income and how she moved from that to
building powerful systems that help helps her find stability, so
tracking every shilling and developing what she calls a paid
(04:47):
day routine. So listen to part one and part two
will be out next week. And if you need more
info on the Wellness talk, because I've just remembered I
didn't tell you where you can buy your ticket, check
out the show notes. There is a link with more information.
But I truly hope you take advantage of this opportunity.
(05:10):
And if you have friends who are entrepreneurs, friends who
are freelancers, friends who are content creators, friends who want
to branch out from employment and do their own thing
share this episode and the wellness talk details with them. Okay,
so back to Susan. We started off the conversation with
(05:30):
her sharing exactly how she transitioned from employment to entrepreneurship.
Speaker 3 (05:37):
I think, and this is also my own personal experience
because as someone who transitioned from employment into business or entrepreneurship,
it was like a slap on my face. I'm like,
you know, you underestimate what that guarantee of income every
twenty fieft there's a level of comfort, Yeah, and sanity.
(06:00):
I d say that it gives you knowing that it's
still coming. So I think in terms of like the
struggles I think creatives and entrepreneurs have, is that trying
to understand how to organize regular bills with irregular income. Uh,
because like, your bills don't care. There are things that
(06:21):
must absolutely be paid for every month, whether your invoices
were paid that month or not.
Speaker 4 (06:27):
Yeah.
Speaker 3 (06:27):
So I think that's the disconnect that some bills are
so unrelenting they must be paid every month. They are
regular by your income that's supposed to be financing them
is irregular and unpreduced, predictable. I was gonna say that nobody,
especially this year, no one for so away from Kasongo.
(06:48):
You know, we woke up and at a point in
what Q and of Q one, Q two to Trump
changing so much in the landscape. Any of my clients
were affected by that. I saw so many people coming in,
like for the coaching sessions, who are just like, hey,
may I had a job last month. Now with this
new USA thing, have been affected and I don't know
(07:11):
what to do. And some projects had very good exits packages,
so they were given like three months and just didn't
have very good exit packages. So it's it's it's something
that I mean, it's it's it's it's I wouldn't say
it's common like it's it's not standards or you're a
blanket experience. But I think as long as your source
(07:33):
of income is not regular, predictable or guaranteed, then you're
trying to manage your finances requires a different a different approach. Now.
I think while that may be valid, sometimes as entrepreneurs
or as creatives, we shoot ourselves in the foot, okay,
And I think the mindset behind that is that we,
for example, will not do what is the quintessential financial
(07:56):
planning things like budgeting that are still very very effective
even if your regular, even if your income is irregular.
Speaker 4 (08:03):
Yeah.
Speaker 3 (08:04):
So because of that mindset, we've already it's like we've
told ourselves, my income is irregular, so these days do
not work for me. So even just trying to figure out, so,
how do I take this thing that is meant for
an employed person and how do I tweak it?
Speaker 1 (08:18):
You know, for me?
Speaker 3 (08:19):
For me, do you ensure that it would work for
someone who gets paid per week, or someone who only
gets paid like once every two months, or someone who
gets paid per project, or for influencers for example, per campaign,
you understand. So I think the mindset that we can't
apply proven financial management strategies because ours is irregular income,
(08:42):
I think is a mindset that we need to change. Fine,
I may not budget the same way unemployed person who
has you know, every twenty fifth or every thirtieth there's
this money coming in, but I still have to budget.
So the issue is when you when you close your
mind to say, for example, budgeting, you wouldn't even be
open to life how to year for someone who's in.
Speaker 1 (09:01):
Your shoes because you've already decided it doesn't work for
me exactly. Yeah, in your I'm so intrigued in your
experience because you're always so good with just sharing from
your story. So you moved from employed to this space,
and I remember when we last spoke about it, it was
like a shocking.
Speaker 4 (09:21):
Wasn't that smooth?
Speaker 3 (09:22):
It doesn't smooth at all. I don't even know why
we call this that transition, because transitions are.
Speaker 1 (09:27):
You know, you moved through them gently.
Speaker 4 (09:32):
This one, wait, it was quite a bit.
Speaker 1 (09:34):
Yeah, what are some of the mindset shifts you had
to quickly like say, Okay, now I'm in this different space.
I'm going into business. I can't think like ABCD anymore
about money.
Speaker 3 (09:49):
Yeah. Yeah, so let me be honest. The first year,
which was twenty twenty, Yeah, I didn't know south from
east from I didn't know nothing. Yeah, like a, I
was drowning because I've never been here. I don't know
what I'm doing. Then it's COVID who knows what they are?
Speaker 4 (10:08):
Not a lot of employed or not all does you know?
Speaker 3 (10:12):
But I also feel like now towards twenty twenty one,
when the world started opening up for me, I don't
know whether it's a matter of luck, but because of
what people had gone through, they were more interested in
learning about money and financial literacy. So I got a
bit of business like from twenty twenty one. Right, So
(10:35):
now the money is coming in, but it's so irregular,
like it's like a then I would charge maybe twenty
five hundred for a consultation on Zoom. So imagine this
week I have two people yeersand five hundred.
Speaker 4 (10:48):
Today they are are twenty five hundred there.
Speaker 3 (10:50):
Other week like that, Like money is flowing in, but
there's no particular order. Yeah, it's just it's like how
you do projects here, this perst particular company pays you
and whatnot. So I think for me, the thing that
got me is there was so obviously because I was
also trying to expand my knowledge in areas of financial literacy,
I started like investigating like apps or platforms that I
(11:14):
can use to at least track the flow on the.
Speaker 1 (11:17):
Pania before we even understand like the pandectability.
Speaker 3 (11:21):
Won't tell you. Because I remember, like my friend was
asking me, Hey, you want to do this thing full time?
Because I was like I don't. I think I would
want to see what this is when it's leads. Because
I was also applying for jobs, I wasn't getting very
positive feedback. Companies had downsize, so I was just like,
you know what, I'm no longer sending applications. It was
(11:41):
very had breaking. Every every evening you're opening your emails
or morning there's a regret email. So I just so
one of my friends, I'm done. I'm not applying for
jobs anymore. I think, let me see what this coaching
thing has. If it doesn't work, I'll just go back
to the job mark and I just like, do you
even know how much you make?
Speaker 4 (11:59):
I'm like, good question question.
Speaker 3 (12:03):
So for me, that's where the consciousness began. So I
started like investigating. Then I came across the app that
I love the most. It's called Money Manager. I wish
I knew who owns the am, but it's just somewhere
on place store. So I just started using it. So
anytime someone would pay me, even if it's a thousand book.
Because I was I was starting small coms then, so
(12:25):
sometimes someone would come and say I can my shit there,
I tell them okay.
Speaker 4 (12:29):
Fine, just yeah you have yeah.
Speaker 3 (12:30):
Because I didn't have money, so I would even take
a thousand books, right, so I started tracking. So the
thing that got me so when I was employed, I
used to get a gross of forty thousand, and then
of course deduction deductions had taken maybe twenty nineteen thirty.
And then on the first month I actually used the
app religiously, like any payment I get, I put it
(12:52):
in there and then obviously any so it has both
so you track any payment that comes in, but you
also track any money you spend. I was shocked, adele
because on that manth I didn't feel like it. I
didn't look like it. But according to money manager, I
made sixtyges.
Speaker 1 (13:07):
Wow, because I was listening to you say, I would
even take a thousand bob. And one thing business has
taught me is the value of even a hundred shilling correct.
Speaker 3 (13:17):
So to me as like, what do you mean I'm
making more money than what my gross was because I
don't feel like it. I don't. Yeah, you feel when
you have money. Listen, that thing did something in my
psyche like I was just like, okay, let me do
(13:38):
another month, let me just see maybe this was a
special man, not genuinely it's very shocked.
Speaker 4 (13:44):
Yeah.
Speaker 3 (13:44):
Then I did the other man and to date and
then I'm gonna show you. I wish my phone was
it's there, but like I have my data from twenty
twenty one to date up to today morning, you know
I can tell you. And that for me changed everything
because I was like, you see, especially as entrepreneurs, and
I wish most creatives and entrepreneurs realize this. Yeah, it's
(14:05):
so easy for you to make money. Yeah, but how
much of that money are you keeping?
Speaker 4 (14:10):
Is the question?
Speaker 3 (14:11):
Right? So when I started holding myself accountable to actually
seeing the number instead of ignoring, like, seeing the number
forces me to be accountable and ask myself, Okay, according
to the books or according to the app, I made
five hundred's, so what did I do with it?
Speaker 4 (14:28):
And how comes it's only ten remaining?
Speaker 3 (14:31):
Co it?
Speaker 4 (14:31):
You get?
Speaker 1 (14:32):
So?
Speaker 3 (14:32):
I think for me, that's the change I made that
I never even used to do when I was employed.
I started following the money. And I think if I
was to give any creative or any entrepreneur like a
tip that I think would be very beneficial, you may
not see how it's going to help you. But the
moment you start following the money, you can't ignore it,
(14:54):
because now you'll ignore it the first, the second, the
thad Man. But at the back of your mind you
will know I made one point two million. Yes, then
I can't account for it.
Speaker 4 (15:02):
Yeah, it more.
Speaker 1 (15:04):
And it even makes you have a confidence to even
say I cannot even entertain the investment conversations because I
think sometimes you look at your business as a small thing.
I don't want to go into hearing about investments because,
like me, this coupling of mind is so tiny, and
(15:26):
I in your head you have that mindset which we
know not to be true. But it's how investment was
first brought to us, is that if you don't have millions.
Speaker 4 (15:34):
This is not a space for you, right.
Speaker 1 (15:35):
Yeah, So when you start seeing like for you, when
you see the sixty k, you even have a confidence
to say.
Speaker 3 (15:43):
Fifteen, yes, exactly, fifteen or five exactly. I mean, it
just depends. But I think that's really really powerful. I
think the second thing that I did that changed the
game for me was detaching from an employed person mindset. Okay,
tell me about that, and I I think I would
also advise employed people to detach because you see, as
(16:06):
an employed person, the reason we move confidently as sometimes
when we're employed, I know, right, now things have probably
since changed, but we operate with a mindset of job security.
So you in your mind, you know, even if I charmor.
Speaker 4 (16:21):
This month, next month, the money is coming.
Speaker 3 (16:25):
Exactly, I'll recover. And when you do that long enough,
you might even end up leaving that employer without having
ever done anything meaningful for yourself. Because you're walking around comfortable,
you get So I think the reason again why business
and entrepreneurship of freelancing is scary is because you feel
(16:46):
like that safety in it was ripped.
Speaker 4 (16:48):
From underneath you.
Speaker 3 (16:50):
Now no longer have nothing to fall back on. It's
just you and Jesus like hands like clatnde up here.
Very highly probable. I mean it's We've seen people who
are now doing well give stories about the earlier days
and that they were starting out. Yeah, and they tell you, listen,
I had my friend, had to accommodately because I couldn't
(17:12):
make friends.
Speaker 1 (17:12):
Yeah.
Speaker 3 (17:13):
Yeah, So I think I had to accept that. Now
this is where I am, and I need to change
my techniques. I need to change my strategy. While I
was used to you know, money comes at the end
of the month, and I do. Now I need to
actually have and every person's and I think this is
really key Adele. Every person's system is different.
Speaker 4 (17:35):
Okay, because today.
Speaker 3 (17:36):
Morning, for instance, I was working with someone who gets
their salary choice in a month, half month and then
towards the end of that.
Speaker 4 (17:43):
That's interesting.
Speaker 3 (17:43):
So typically we would recommend that, like for someone who
is employed, you have what we call so everyone must
have what we call a paid day routine what you
do when the money comes, right, I want to just
assume guys, if you're listening to us and you don't
have a budget, yeah, like I just I just let's
start there.
Speaker 1 (18:04):
The last wellness TXSM came, she gave us an incredible budgeting.
Speaker 3 (18:10):
Sure, so working with an assumption that you are at
least on the bare minimum, know what your expenses are.
For someone who gets their income coming in on the thirtieth,
they do their pay day routine maybe on tttioth or
thirty first latest first, let's not push it. Yeah, so
you have one paiday routine. Now for like my Alex
was working with today, we need how many paiday routines too,
(18:32):
which was we asked herself. So when this first batch comes,
what do we do with it? So we pay rent,
we buy food, we bulkshop that so by the time
the second one has come, the first one doesn't take
care of any savings or the investments. Then when the
second paycheck comes in, now she handles what wasn't handled,
(18:53):
which is, okay, how much are you putting in the MMS?
We need to service our mortgage and then we need
to do there. Now, imagine someone who gets I mean
ark with even like clients for example in Australia who
sometimes get paid weekly or bi weekly. Yeah, you need
a paid day routine that I'm saying. People's systems are different.
Speaker 1 (19:13):
Yeah.
Speaker 3 (19:13):
Yeah, So like especially for people who have say your
own influencer with freelancer, there may be contracts that you know,
oh this one is a three month contract or a
six month contract. Right, you want to actually assign or
allocated and say, okay, when this money comes, I will
I do a lot of prepaying. For example, as a freelancer. Yeah,
(19:33):
anytime I get big money, hey are happy? Yeah, I
will have my emergency if I'm funded for the next
six months, because I don't know the next.
Speaker 4 (19:42):
Time this kind of contract is coming. Correct.
Speaker 3 (19:45):
Yeah, Yeah, I've had instances where I've paid rent six
months in advance. Your safari com or zuku wund katas.
Are you from paying your internet six months in advance
for example?
Speaker 4 (19:56):
Yeah, you see those things.
Speaker 3 (19:58):
So it's just a matter of figuring out because not
everyone's cycle of how your money comes in is the same. However,
you know, if you've done freelancing long enough or you've
done your gig long enough, you know it may not
be regular, but there's a Yeah, there's an ebb and flow. Yeah,
and you've you've probably noticed or picked on on that
(20:21):
you can bank on and say, Okay, so when this
money comes in, I'll do this, and then when this
had a batch of money comes in, I'll do that.
That's still a system.
Speaker 1 (20:30):
This is so interesting because I didn't know that was
a system. I've done the rents, like repaying rent, and
in all my adulthood, I've never had such calm I
think mine is making. Yeah, it was so stressed free
exactly exactly. It was so stressed, and I didn't like
(20:52):
I Actually, before then, I didn't know you could.
Speaker 3 (20:56):
Do that exactly. And that's one of the most powerful
things for someone with regular income if you can learn
the art of prepaying whatever can be prepaid. So it's
an aspect of knowing, and I think this is also
really powerful. I had to also learn how to handle
very high incommands and how to handle low incomments. Again,
the strategy should be different. So when I have that
(21:17):
high incommand, I know I'll do a lot of prepaying,
including into my savings, Okay, including into my debt if
I have any, because maybe next month I will have
the same yeah, or the same client yeah, or the
same flow in my business. And then also know how
to handle the low incommands.
Speaker 2 (21:36):
Yeah.
Speaker 3 (21:37):
Sometimes I have low incommands that have gone two or
three in consecutive months, so I've had to normalize going
on no spend challenges for example. So I'm like, the
are months that, yeah, I over so much, but maybe
this month I want over that. Yeah, the air months,
I'm branching every Saturday and Sunday. Then this month's people
(21:57):
a wandering Yeah I am. Yeah, it's just a matter
of just knowing this is how I'll be handling. Like
for me, on a low incomemnd, I go on what
I call a bear bones budget. I think we talked
about it in our last wellness session. Yeah, it's a
necessities only Yeah, it's yeah, like only what is necessary. Yeah.
Then on the high incommnds, fine, I will do my nails,
(22:20):
get a massage, because we still have to enjoy our money,
but I'll also ensure it's distributed through all the important departments.
Speaker 1 (22:28):
Okay, and this is I think it's also important to
note that there is no shame in scaling down when
you are navigating a low incommand. Yeah, and it calls
for you to be a bit more organized. At least
for me, I've learned that low incommands, I'm not coming
to Nairubi as often as before. I'm just like, no,
(22:51):
feel costs. It's one of the easiest things for me.
I'm like, yeah, feel costs down down.
Speaker 4 (22:57):
You normally go, I don't know, once every two weeks
to spoil yourself.
Speaker 3 (23:01):
No, exactly.
Speaker 1 (23:03):
There is no shade because you know, there's some necessities
that will require your your money exactly.
Speaker 3 (23:10):
And sometimes we even have no income months mm hm.
That is why for me, especially being aware of your
high income months and maximizing on that becomes really important. However,
now on a more long term planning, Yeah, and I
think this is easier said than done, but it's one
of the most powerful things A freelancer can do you
(23:34):
have to look at your business strategy differently, Okay, and
you have to stop running because even I mean even
an influencer or a freelancer whever, we're all businessmen. And yes,
so you you've at some point you've got to stop
running the business like a chiaosk.
Speaker 4 (23:50):
Please repeat it.
Speaker 3 (23:53):
No, I'm so serious, like yeah, at some point you're
gonna decide whether is this a serious thing? Is it
now our business? And then begin to educate yourself on
how businesses run and start practicing. Yeah sne because now
you want to look at your income strategy. Where does
my money come in? Where where does my money come from?
Speaker 4 (24:14):
Actually?
Speaker 3 (24:15):
Are their opportunities for me to make this permanent or
semi permanent like this stream of income for example?
Speaker 4 (24:22):
You get yes?
Speaker 3 (24:23):
So for instance, I well, gosh, am I going to
say this in public? Let me just say I don't
like social media genuinely, like it's not I tell my
friends nik social media honestly the activated you just have
hit my financial independence. But you know what every Friday
on YouTube, yeah, I do a video. Yeah it's because
(24:47):
as long as I've done it long enough to know,
as long as I put up a video every week
on Fridays. At the end of the month. It may
be peanuts, but it's some dollars here that I can
do something we I know I can do shopping for
the house with that money, even if that's only to
do so. Like I started identifying, number one, what are
(25:08):
my income streams in my line of work? And how
do I start identifying the ones that I can make
permanent or semi permanent. You will change even the way
you approach negotiation and constrasts because now I'm not in
the business of doing when hits wander week, company X
for this month and that's it. I'm more interested in
(25:30):
figuring out, so how can we strategically partner for the
next year long term? How can I strategically partner with
this company for the next six months? Right, you begin
to even think, especially for us in the online space,
what are some of the things like you know what
we're doing, like webiners.
Speaker 4 (25:45):
And your plands.
Speaker 3 (25:47):
There's always gonna be somebody who needs the information that
is on the webiner digital products like done for your
cookbooks or downloadable templates or whatever. There are so many
wild opportunities that we can and I think the moment
you changed again your mindset around your business, and then
you start thinking like a business person. I've always said,
even if even when my business was one woman show,
(26:10):
I read some I can't remember where, or I had
someone on a podcast say that if you're trying to
build a business that you think will sustain your lifestyle
or possibly even outlive you, you have got to give
it for Tune five hundred company treatment. So you need
to study how they run. Yeah, so there is these
people know inflows outflows what Giico here does not know
(26:32):
how much money she made last month. She doesn't know
how much she is even expected to go out, So
you know those basics. The way you hire is important,
your location is important. Your brand, oh my goodness, just
how people perceive your brand. Like all of those things
feed and that is why for me, while people think
these things are not important or the like, you're really
overthinking it.
Speaker 1 (26:53):
No, you're not.
Speaker 3 (26:53):
I all feed into my chintin in the count, which
is what I'm interested in.
Speaker 1 (27:00):
I'm always telling a colleague of mine, I'm so happy
I overthink thing. Sure, I'm so happy I overthink thing.
And I you know, I completely agree with what you're saying,
because when you start to look at even before looking
at your freelancing as a business, I think also looking
at your skill as a value exactly. You know, then
(27:23):
you start thinking how can it generate income even when
there's no advertiser or partner like on its own, so
that every month, even if it's bringing you three thousand
bomb every month, at least then you're sured, Okay, there's
three thousand, Bob, WiFi is sorted.
Speaker 4 (27:41):
You know what I mean, your I'll never you know,
WiFi is sorted.
Speaker 1 (27:45):
So I think one other thing we're going to be
looking at at the wellness dotop because you're not giving
you guys all the things.
Speaker 4 (27:52):
But this conversation is really exciting. We're also going to be.
Speaker 1 (27:56):
Looking at some of the mistakes financial mistakes that we
make on this side as freelancers, as entrepreneurs. I remember,
just when you're talking about the Fortune five hundred company.
One thing that I think was very important for me
to do is I sat down with a farmer because
I've always just been wondering your business is also hectic
(28:18):
because your product is once you have harvest, did it?
Speaker 4 (28:22):
The shelf life is.
Speaker 1 (28:23):
Going down, right, But you have a timer going and
I'm just like, how do you handle this? And kind
of like he was running me through what they do
blah blah blah. And I learned things that seem like obvious,
but I wasn't doing it, like listing down every single
(28:45):
cost I have. There were just some things that fuel.
Speaker 3 (28:51):
Because if it wasn't for their business, would you leave
your home that day? No, Like you're probably going to
prospect an opportunity that's a business cost.
Speaker 4 (29:00):
Airtime?
Speaker 1 (29:01):
Yeah, right, And so you know, I still remember he
was much older and he was like, I need you
to go and write down all your costs. Take me
through what it takes you to do, what it is
that you need to do to get the audience, to
get the partners, to get the revenue.
Speaker 4 (29:22):
What take me through all of that?
Speaker 1 (29:24):
And let's cost everything, right, I remember that being one
of the mistakes. So what are some of the mistakes
that you see as financial mistakes? You see us in
business making?
Speaker 3 (29:34):
The biggest must be not having a line between business
and personal money.
Speaker 4 (29:40):
That's the and natonism.
Speaker 1 (29:43):
It's I'm just gonna have to cuss, it's a mind
fuck because let me tell you to dates, I still
have to catch myself when the lump some payment comes,
I know in my head, I'm.
Speaker 4 (29:56):
Like, girl, we and then I'd be like to.
Speaker 3 (29:59):
Know, no you can't, Yeah, no you can't. It's it's
it's it's it's huge. And I feel like once you
figure that out, fine, You've not like figured out everything,
but I feel like it's solving half the problems we have,
especially when it comes to finances as freelancers. The day
(30:20):
I understood that Susan wan Jico and the legacy have
are two different entities. Let me tell you what I
did when, especially because listen, our client has paid me today,
then I'm going to care for to get near whatever dinner.
Speaker 4 (30:34):
Yeah, you like dip into that other.
Speaker 3 (30:36):
So you see, and it affects everything, even how you
collect your payments because honestly, if you leap on me
to empass that, I just pay me on it.
Speaker 4 (30:44):
I don't like that.
Speaker 3 (30:45):
The will power it takes, yeah, now runs far the
money from Myson into the business bank account.
Speaker 4 (30:51):
I all of a sudden, the buttons are too many.
Speaker 3 (30:54):
You know, So so I think it's really really important,
and I think it comes back to event structures.
Speaker 4 (31:03):
The most basic structures.
Speaker 3 (31:04):
Let me tell you very simple things I've done in
my business that I feel have supported me in that journey.
Speaker 4 (31:09):
It's OK.
Speaker 3 (31:09):
Perfect, but I think now I'm getting better. The first
thing I did is obviously registered the business as an entity.
I know we are all like, oh, I'm gonna have
to pay carere but genuinely, if you're gonna again, if
you're building a legacy business, something that you believe in,
something that you're like, this is gonna probably be handed
(31:30):
down even generations to come. You can't avoid ties forever.
Speaker 1 (31:34):
Yeah.
Speaker 3 (31:35):
Yeah, And then of course when you invest, maybe let
me talk because one of the reasons we don't register
these businesses or register or separate the actual entities is
because we don't to shed too much light on our soults.
And when you actually work with professionals, like a really
good accountant, you figure that by the time you see
that costing, by the time you take out.
Speaker 4 (31:54):
All the court yeah, it's it's actually sheltering. It's doing
you as exactly because.
Speaker 3 (31:59):
You'll end up paying very little in taxes. Yeah, because
you have to take out all your expenses. And then
there's some reliefs and maybe if you are contributing into
a pension, there's all some relief there. So I actually
personally end up paying very little like what I thought
i'd be paying in taxes for example. So that's the
first thing I did. I registered the business. Then the
(32:19):
second thing that I've done is that my bank account
and the business bank account to in fact, they're not
in the same I was gonna say, in the same bank, right,
So those are two. So say Casey B has my
business account, Stanchard has my personal life.
Speaker 1 (32:37):
So there's no way any day they will And it
must be a hassle for you. You had to point
to catch yourself like what am I doing?
Speaker 3 (32:45):
Yeah?
Speaker 4 (32:45):
And I tell you why?
Speaker 3 (32:46):
How that now has come into play later on in
the business because I'm now an year five of running
my business. Now, when I did that, I went down
to the very Let me tell you, I now have
two phones. And the reason I have two phones is
because of some people genuinely, either because they're abroad or
they're having issues, they want to pay into a number
(33:07):
I don't want you. So I got the business line,
it's on a separate phone, and then my personal line
is on it. So when money in this phone is not.
Speaker 4 (33:15):
My yeah, and I don't know how to see it
until I'm doing my books exactly.
Speaker 3 (33:19):
Yeah, O, get down to you see this app that
I use? Yeah, because I have two phones. I have
the money Manager on my personal phone that tracks personal expenses,
and then I have the money Manager on the business
phone that tracks business expense. Two accounts, two different accounts,
you understand. So it may look like it's very small things.
(33:40):
But like the more I kept like stacking those habits,
I realized, like, now it's a very clear distinction between
what's my money and what's the business money.
Speaker 2 (33:50):
Right then.
Speaker 3 (33:52):
Now, of course, as the business grows, you begin to
realize if you ever get to a point where the
business now once Because a lot of us at businesses,
and I find that's also another mistake. We run businesses
and maybe I'm pretty sure you have like a makeup artist, Yeah,
you have a videographer, Yeah, you have a style list,
you have an editor, all of that. Or someone who
sells clothes in town has the shop attendance, they have
(34:16):
the social media manager or assistant yeah whatever. All those
people are on a strict payroll. Yeah, so they're paid
every month.
Speaker 4 (34:27):
But paying adele is where you're dreass That's so true.
Speaker 3 (34:31):
So that's mistake number two. We don't put ourselves. It's
like you started the business, you're put in the work,
you've put in the sacrifice.
Speaker 4 (34:37):
And you're continuing.
Speaker 3 (34:38):
And you're continuing too. And it's like this business is
for other people. It's paying everyone else a regular salary,
but it's not paying you a regular salary, no matter
how small.
Speaker 4 (34:48):
Yes, it beats.
Speaker 3 (34:51):
Who's this business for? Yeah, and it's a charity.
Speaker 1 (34:54):
It helps you.
Speaker 4 (34:55):
I think.
Speaker 1 (34:55):
For me, what I always say legally to Loss Africa,
I'm an employee, Yeah exactly, and it actually makes me.
Speaker 4 (35:03):
More disciplined for I'm like me, these are my roles
and I have to do it.
Speaker 1 (35:08):
But for a long time, I wasn't paying myself because
I just thought, oh, we're not making enough money.
Speaker 4 (35:13):
It's like sacrifice.
Speaker 3 (35:15):
And even if you pay yourself changes, I've not said
put yourself on payroll and pay yourself five anyway thousand
you know, yeah, we all So you see that that
kind of like puts a stop to the hemorrhaging business
money because them because if you don't put yourself on salary,
do you know, it's very funny when you think about it.
Imagine that. Yeah, but now without any plans, no boundaries
(35:40):
or limit. Yeah, but you say if you're like, okay,
and the easiest way to figure out how much you
need to pay yourself? I know some people say, oh percentages,
this percentage is that For me, the easiest thing was
to do what I'm calling the bear bones budget. Okay,
by bare minimums my necessities. My business should be able
to get to a bit where it can pay my necessities,
that my rent, my food, my transport on the bare
(36:03):
minimum utility is an air time yeah, period. Yeah, I
don't have to go to fancy nail parlors or whatever,
just my bare minimums. And if it isn't, then that's
good information for.
Speaker 4 (36:15):
You because how do we get it to?
Speaker 3 (36:16):
How do we get there? You get so because we don't.
We don't. Again, we're not doing this strategy and we're
not strategizing, we're not figuring out okay, so now the
business and again we're not even doing accounts, we're not
doing books, we're not doing record keeping. So you're not
even able to see influence outflatsh you you just know
social media manager, I'm fifteen, Yeah, videograph I'm fine, But
(36:39):
like you've not really looked at the P and the like,
have you actually done this is my income, yes, and
my expenses. This is the profit or loss that I made.
Speaker 4 (36:48):
Yeah.
Speaker 3 (36:49):
So those are the two major mistakes. Not separating business
money from personal money. Yeah, and also not actually assigning
a salary and listing you for you yourself okay, lipower
payroll director and a happle.
Speaker 1 (37:03):
Yeah.
Speaker 3 (37:03):
And I know we are told, okay, sacrifice, sacrifice, and
it's true. Yeah, when the business is starting, you may
not be able to take as much, but eventually you
should be able to start taking twenty thirty forty to
the points that you can now pay yourself a comfortable salary.
And if you run the business long enough and you're
(37:24):
still not able to do that, then that's cause for concern. Again,
I think a lot of us are. We call that
the sunken cost fallacy. And that's another mistake by you
took a loan, or you your friends contributed, or you
emptied your savings and you started this gig, you started
this brand, You had a vision, you had a plan,
but for some reason it didn't work out us you
(37:47):
thought or you planned. Many of us because of the
sunken cost fallacy, we're not able to cut our losses
and decide or accept aha that this isn't what it's
not working. Cut it off now, I need to go
back to the drawing and the thinking. Cost fallacy shows
up even in how we invest. You put money and
then you're like, what you report and then you're just like,
(38:07):
you don't to accept the laws just like they tell you.
Speaker 4 (38:09):
Oh yeah, No.
Speaker 3 (38:12):
It happens in relationships too. You're like, oh, but you see,
I already did a wedding.
Speaker 4 (38:17):
You already.
Speaker 3 (38:18):
I already have three children like you.
Speaker 4 (38:20):
It's not why let's forgot another one.
Speaker 3 (38:22):
Let's just try let's say maybe the fourth you so
this abusing this relation? Yeah, you understand. So I think
even financially speaking, I think one of the most critical
skills as business people in terms of finances, we need
to have is knowing when it's time to call it quits. Yeah,
when it's time to just be like, something somewhere is
(38:44):
not working. Because if I've done my business like five
six years and it's been six years, I've invested, I'm
paying other people, but up until this point, I'm not able.
Speaker 4 (38:53):
To sustain my on the bear my life.
Speaker 3 (38:57):
Yeah, impair yourself an annual bonus y ten millions. Just
can you pay your rent?
Speaker 1 (39:02):
Yeah?
Speaker 4 (39:02):
From the business.
Speaker 3 (39:03):
Can the business pay you enough to pay your rent?
Speaker 1 (39:05):
Yes?
Speaker 3 (39:06):
Can the business pay you enough to afford fueling your
car or at least transport where you work? So I
think following the numbers is everything, honestly, So for me,
I did rectify the mistakes at least now I can
say like the finances in terms of personal finances and
business finances are separate.
Speaker 1 (39:25):
Yeah.
Speaker 3 (39:26):
I have a small lian team of three. I have
a videographer, a web development and a virtual assistant in myself.
So when we are doing payroll, we do for four people. Yeah,
Susan included like not that money sent from KCB the
business account now standard mane. If I decide to go
CU lack a bag, it's my business you get and
(39:47):
whatever money was left in KCB, if any, it's mine.
Speaker 4 (39:50):
It's the businesses exactly Yah.
Speaker 1 (39:52):
And you know this is so interesting to learn because
even when you say you have a lean team in
my industry, I think you have the team that the
business required.
Speaker 4 (40:02):
Now exactly right. I think sometimes one.
Speaker 1 (40:06):
Thing I had to realize growth is steady, and it
might not be at the speed.
Speaker 4 (40:13):
I think it is.
Speaker 1 (40:15):
If you're not aware of that, you can lose money
chasing the appearance of growth.
Speaker 4 (40:21):
But it's not theirs.
Speaker 3 (40:23):
Like I think, growing too fast can be a challenge,
and I think again, another reason I don't like social
media is because every weekend there's someone launching something. Every
It's like, do you know Adele, I think I told
you this before. I started my business in my bedroom, right,
guess where I'm still. It's not in the bedroom, but.
Speaker 4 (40:48):
Yeah, in my home with a very nicely done backdrop.
Speaker 3 (40:51):
That I can use for videos or whatever. Because I'm
just like listen, I know everyone, and occasionally we will
get a phone call from someone and say hey, annually
financial advice, Hey equally offician.
Speaker 4 (41:04):
So you might feel the.
Speaker 3 (41:07):
You know people, some people take me seriously if I
don't have like an office or whatever. And those are
some of the things I think. I prefer to live
by my truth as opposed to setting up offices so
that once in two weeks one client can come in
and you know, experience for one hour for one hour.
(41:27):
So I pay rent, I pay receptionist, I do fittings
and fixtures in a new office space just so that
on Instagram, I can post and say, hey, guys, this
is the office you can find us, but like seventy
percent of my caln teile is actually Kenyan's in the diasporas.
Speaker 4 (41:43):
Yeah, we are doing this thing.
Speaker 3 (41:45):
On Zone online, right, So if I was to succumb
to the pressure of people saying, hey, but you've done
this business so long, now you guys need to have
an office. So I think also that growth is good,
but as you said, it really needs to be aggressive.
And I think for me a nice rule of thumb
that I use to determine whether I need to be
doing it. It's not what people are doing or what
(42:07):
people are asking for, It is the business asking for Read.
Speaker 2 (42:11):
Yes, this is just part one of my conversations with Susan.
Part two will be out next Wednesday, but remember to
sign up for our wellness talk on the twenty fifth
of October, where Susan is a guest speaker and it's
geared for entrepreneurs and freelancers and she will be helping
us build financial stability with irregular income and we're also
(42:36):
going to talk about investing, retime, and planning and so
much more. Grab your tickets now there are one thousand,
Bob in the show notes, there is a link, and
remember if you resonated with this episode, share it with
the people that you love and care for and who
you know could benefit from this particular conversation.
Speaker 1 (42:57):
Thanks for listening to the Midwikti'sigually Clueless Africa production episodes
go out every Wednesday, and you can learn more about
us by going to legally Clueless Africa dot com.
Welcome to the midw te's with me adele Jangle, where
I share some random and not too random thoughts on things.
Speaker 2 (00:10):
And in this episode, I want to talk about something
that I think every single entrepreneur and freelancer should hear,
which is how the heck to build financial stability with
irregular income? You know that's the bottle, isn't it. I
have been an entrepreneur for six years now and that's
(00:31):
one of the headaches, right because first and foremost, there's
no money coming in every twenty fifth of every month.
Speaker 3 (00:38):
Right.
Speaker 2 (00:39):
We left that in employment. But you know, the roller
coaster when it comes to income can be very real.
So one month the invoices are flowing sweet and smoothly,
and then the next you're wondering, here will I manage
to pay the salaries that I have to? Will I
manage to pay myself? Will this business cover overheads? If
(01:00):
you're a freelancer, will this business make sure that I
can meet my basic but very important monthly bills? So
back to the question, how do you build a sense
of just financial calm when your income is unpredictable? How
do you move from survival mode to just like sustainable
(01:24):
success and come and I thought that this question is
important enough for us to base an entire wellness talk
on it for all my entrepreneurs and all my freelancers.
And I thought one of my favorite money educators is
the best person to be the speaker. Her name is
Susan Uanjiku, and she's been on the podcast before, but
(01:47):
she's also led I think two wellness talks for us before.
We've done one on investments, we've done one on budgeting,
and now this one is going to be focused on
guiding entrepreneurs and creatives and freelancers to make money that lasts. Okay,
So it's on the twenty fifth of October. It's a Saturday,
(02:11):
starting at nine am running till twelve noon. It is
a virtual so wherever you are in the world, jump
in and Susan is going to dive into deep practical
strategies for managing irregular income and budgeting smart and investing confidently.
Let me tell you some of the things she's going
to talk about separating business and personal finances. That sounds
(02:35):
very easy and straightforward, but it's not. She's also going
to be talking about budgeting with unpredictable income. A lot
of us feel like, we don't even need to budget
because you need predictable income to budget. No, you do not, right,
She's going to put us on to how to do that.
She's also going to help us start thinking about how
to build multiple streams of income from your business or
(02:58):
from the skill that you've based your freelance career around,
because that also can feed into sustainability. And I love
this one so much because it's something that I've made
progress with in my own business. She's going to help
us invest. It is possible to invest even with irregular income.
(03:19):
Another thing she's going to talk about, which for me,
this one was like a personal request because I have
made little to no progress on it. Retirement planning. For
entrepreneurs and for freelancers, it is possible, especially now. They
are tools for us and she's going to guide us.
One thing I like about Susan's talks is she gives
(03:41):
practical tips and even templates. Sometimes she gives us templates
for free Imagine. So the wellness talks are designed to
be super subsidized in cost and to be virtual so
that you have little to no excuse as to where
you did not attend, so it only costs one thousand
bar and it is virtual, so when you buy your
(04:03):
ticket closer to the twenty fifth, our events lead will
send you all the registration details. Her name is Mercy.
In the lead up to our wellness talk on the
twenty fifth of October, I thought, let's have a conversation
with Susan. Let's bring her onto the midwiek TI's We
had a two part conversation. What you're going to listen
to is the first part where she shares her own
(04:26):
personal transition from employment to entrepreneurship. That was a slap
in the face. It was a shock, it was not planned,
losing guaranteed income and how she moved from that to
building powerful systems that help helps her find stability, so
tracking every shilling and developing what she calls a paid
(04:47):
day routine. So listen to part one and part two
will be out next week. And if you need more
info on the Wellness talk, because I've just remembered I
didn't tell you where you can buy your ticket, check
out the show notes. There is a link with more information.
But I truly hope you take advantage of this opportunity.
(05:10):
And if you have friends who are entrepreneurs, friends who
are freelancers, friends who are content creators, friends who want
to branch out from employment and do their own thing
share this episode and the wellness talk details with them. Okay,
so back to Susan. We started off the conversation with
(05:30):
her sharing exactly how she transitioned from employment to entrepreneurship.
Speaker 3 (05:37):
I think, and this is also my own personal experience
because as someone who transitioned from employment into business or entrepreneurship,
it was like a slap on my face. I'm like,
you know, you underestimate what that guarantee of income every
twenty fieft there's a level of comfort, Yeah, and sanity.
(06:00):
I d say that it gives you knowing that it's
still coming. So I think in terms of like the
struggles I think creatives and entrepreneurs have, is that trying
to understand how to organize regular bills with irregular income. Uh,
because like, your bills don't care. There are things that
(06:21):
must absolutely be paid for every month, whether your invoices
were paid that month or not.
Speaker 4 (06:27):
Yeah.
Speaker 3 (06:27):
So I think that's the disconnect that some bills are
so unrelenting they must be paid every month. They are
regular by your income that's supposed to be financing them
is irregular and unpreduced, predictable. I was gonna say that nobody,
especially this year, no one for so away from Kasongo.
(06:48):
You know, we woke up and at a point in
what Q and of Q one, Q two to Trump
changing so much in the landscape. Any of my clients
were affected by that. I saw so many people coming in,
like for the coaching sessions, who are just like, hey,
may I had a job last month. Now with this
new USA thing, have been affected and I don't know
(07:11):
what to do. And some projects had very good exits packages,
so they were given like three months and just didn't
have very good exit packages. So it's it's it's something
that I mean, it's it's it's it's I wouldn't say
it's common like it's it's not standards or you're a
blanket experience. But I think as long as your source
(07:33):
of income is not regular, predictable or guaranteed, then you're
trying to manage your finances requires a different a different approach. Now.
I think while that may be valid, sometimes as entrepreneurs
or as creatives, we shoot ourselves in the foot, okay,
And I think the mindset behind that is that we,
for example, will not do what is the quintessential financial
(07:56):
planning things like budgeting that are still very very effective
even if your regular, even if your income is irregular.
Speaker 4 (08:03):
Yeah.
Speaker 3 (08:04):
So because of that mindset, we've already it's like we've
told ourselves, my income is irregular, so these days do
not work for me. So even just trying to figure out, so,
how do I take this thing that is meant for
an employed person and how do I tweak it?
Speaker 1 (08:18):
You know, for me?
Speaker 3 (08:19):
For me, do you ensure that it would work for
someone who gets paid per week, or someone who only
gets paid like once every two months, or someone who
gets paid per project, or for influencers for example, per campaign,
you understand. So I think the mindset that we can't
apply proven financial management strategies because ours is irregular income,
(08:42):
I think is a mindset that we need to change. Fine,
I may not budget the same way unemployed person who
has you know, every twenty fifth or every thirtieth there's
this money coming in, but I still have to budget.
So the issue is when you when you close your
mind to say, for example, budgeting, you wouldn't even be
open to life how to year for someone who's in.
Speaker 1 (09:01):
Your shoes because you've already decided it doesn't work for
me exactly. Yeah, in your I'm so intrigued in your
experience because you're always so good with just sharing from
your story. So you moved from employed to this space,
and I remember when we last spoke about it, it was
like a shocking.
Speaker 4 (09:21):
Wasn't that smooth?
Speaker 3 (09:22):
It doesn't smooth at all. I don't even know why
we call this that transition, because transitions are.
Speaker 1 (09:27):
You know, you moved through them gently.
Speaker 4 (09:32):
This one, wait, it was quite a bit.
Speaker 1 (09:34):
Yeah, what are some of the mindset shifts you had
to quickly like say, Okay, now I'm in this different space.
I'm going into business. I can't think like ABCD anymore
about money.
Speaker 3 (09:49):
Yeah. Yeah, so let me be honest. The first year,
which was twenty twenty, Yeah, I didn't know south from
east from I didn't know nothing. Yeah, like a, I
was drowning because I've never been here. I don't know
what I'm doing. Then it's COVID who knows what they are?
Speaker 4 (10:08):
Not a lot of employed or not all does you know?
Speaker 3 (10:12):
But I also feel like now towards twenty twenty one,
when the world started opening up for me, I don't
know whether it's a matter of luck, but because of
what people had gone through, they were more interested in
learning about money and financial literacy. So I got a
bit of business like from twenty twenty one. Right, So
(10:35):
now the money is coming in, but it's so irregular,
like it's like a then I would charge maybe twenty
five hundred for a consultation on Zoom. So imagine this
week I have two people yeersand five hundred.
Speaker 4 (10:48):
Today they are are twenty five hundred there.
Speaker 3 (10:50):
Other week like that, Like money is flowing in, but
there's no particular order. Yeah, it's just it's like how
you do projects here, this perst particular company pays you
and whatnot. So I think for me, the thing that
got me is there was so obviously because I was
also trying to expand my knowledge in areas of financial literacy,
I started like investigating like apps or platforms that I
(11:14):
can use to at least track the flow on the.
Speaker 1 (11:17):
Pania before we even understand like the pandectability.
Speaker 3 (11:21):
Won't tell you. Because I remember, like my friend was
asking me, Hey, you want to do this thing full time?
Because I was like I don't. I think I would
want to see what this is when it's leads. Because
I was also applying for jobs, I wasn't getting very
positive feedback. Companies had downsize, so I was just like,
you know what, I'm no longer sending applications. It was
(11:41):
very had breaking. Every every evening you're opening your emails
or morning there's a regret email. So I just so
one of my friends, I'm done. I'm not applying for
jobs anymore. I think, let me see what this coaching
thing has. If it doesn't work, I'll just go back
to the job mark and I just like, do you
even know how much you make?
Speaker 4 (11:59):
I'm like, good question question.
Speaker 3 (12:03):
So for me, that's where the consciousness began. So I
started like investigating. Then I came across the app that
I love the most. It's called Money Manager. I wish
I knew who owns the am, but it's just somewhere
on place store. So I just started using it. So
anytime someone would pay me, even if it's a thousand book.
Because I was I was starting small coms then, so
(12:25):
sometimes someone would come and say I can my shit there,
I tell them okay.
Speaker 4 (12:29):
Fine, just yeah you have yeah.
Speaker 3 (12:30):
Because I didn't have money, so I would even take
a thousand books, right, so I started tracking. So the
thing that got me so when I was employed, I
used to get a gross of forty thousand, and then
of course deduction deductions had taken maybe twenty nineteen thirty.
And then on the first month I actually used the
app religiously, like any payment I get, I put it
(12:52):
in there and then obviously any so it has both
so you track any payment that comes in, but you
also track any money you spend. I was shocked, adele
because on that manth I didn't feel like it. I
didn't look like it. But according to money manager, I
made sixtyges.
Speaker 1 (13:07):
Wow, because I was listening to you say, I would
even take a thousand bob. And one thing business has
taught me is the value of even a hundred shilling correct.
Speaker 3 (13:17):
So to me as like, what do you mean I'm
making more money than what my gross was because I
don't feel like it. I don't. Yeah, you feel when
you have money. Listen, that thing did something in my
psyche like I was just like, okay, let me do
(13:38):
another month, let me just see maybe this was a
special man, not genuinely it's very shocked.
Speaker 4 (13:44):
Yeah.
Speaker 3 (13:44):
Then I did the other man and to date and
then I'm gonna show you. I wish my phone was
it's there, but like I have my data from twenty
twenty one to date up to today morning, you know
I can tell you. And that for me changed everything
because I was like, you see, especially as entrepreneurs, and
I wish most creatives and entrepreneurs realize this. Yeah, it's
(14:05):
so easy for you to make money. Yeah, but how
much of that money are you keeping?
Speaker 4 (14:10):
Is the question?
Speaker 3 (14:11):
Right? So when I started holding myself accountable to actually
seeing the number instead of ignoring, like, seeing the number
forces me to be accountable and ask myself, Okay, according
to the books or according to the app, I made
five hundred's, so what did I do with it?
Speaker 4 (14:28):
And how comes it's only ten remaining?
Speaker 3 (14:31):
Co it?
Speaker 4 (14:31):
You get?
Speaker 1 (14:32):
So?
Speaker 3 (14:32):
I think for me, that's the change I made that
I never even used to do when I was employed.
I started following the money. And I think if I
was to give any creative or any entrepreneur like a
tip that I think would be very beneficial, you may
not see how it's going to help you. But the
moment you start following the money, you can't ignore it,
(14:54):
because now you'll ignore it the first, the second, the
thad Man. But at the back of your mind you
will know I made one point two million. Yes, then
I can't account for it.
Speaker 4 (15:02):
Yeah, it more.
Speaker 1 (15:04):
And it even makes you have a confidence to even
say I cannot even entertain the investment conversations because I
think sometimes you look at your business as a small thing.
I don't want to go into hearing about investments because,
like me, this coupling of mind is so tiny, and
(15:26):
I in your head you have that mindset which we
know not to be true. But it's how investment was
first brought to us, is that if you don't have millions.
Speaker 4 (15:34):
This is not a space for you, right.
Speaker 1 (15:35):
Yeah, So when you start seeing like for you, when
you see the sixty k, you even have a confidence
to say.
Speaker 3 (15:43):
Fifteen, yes, exactly, fifteen or five exactly. I mean, it
just depends. But I think that's really really powerful. I
think the second thing that I did that changed the
game for me was detaching from an employed person mindset. Okay,
tell me about that, and I I think I would
also advise employed people to detach because you see, as
(16:06):
an employed person, the reason we move confidently as sometimes
when we're employed, I know, right, now things have probably
since changed, but we operate with a mindset of job security.
So you in your mind, you know, even if I charmor.
Speaker 4 (16:21):
This month, next month, the money is coming.
Speaker 3 (16:25):
Exactly, I'll recover. And when you do that long enough,
you might even end up leaving that employer without having
ever done anything meaningful for yourself. Because you're walking around comfortable,
you get So I think the reason again why business
and entrepreneurship of freelancing is scary is because you feel
(16:46):
like that safety in it was ripped.
Speaker 4 (16:48):
From underneath you.
Speaker 3 (16:50):
Now no longer have nothing to fall back on. It's
just you and Jesus like hands like clatnde up here.
Very highly probable. I mean it's We've seen people who
are now doing well give stories about the earlier days
and that they were starting out. Yeah, and they tell you, listen,
I had my friend, had to accommodately because I couldn't
(17:12):
make friends.
Speaker 1 (17:12):
Yeah.
Speaker 3 (17:13):
Yeah, So I think I had to accept that. Now
this is where I am, and I need to change
my techniques. I need to change my strategy. While I
was used to you know, money comes at the end
of the month, and I do. Now I need to
actually have and every person's and I think this is
really key Adele. Every person's system is different.
Speaker 4 (17:35):
Okay, because today.
Speaker 3 (17:36):
Morning, for instance, I was working with someone who gets
their salary choice in a month, half month and then
towards the end of that.
Speaker 4 (17:43):
That's interesting.
Speaker 3 (17:43):
So typically we would recommend that, like for someone who
is employed, you have what we call so everyone must
have what we call a paid day routine what you
do when the money comes, right, I want to just
assume guys, if you're listening to us and you don't
have a budget, yeah, like I just I just let's
start there.
Speaker 1 (18:04):
The last wellness TXSM came, she gave us an incredible budgeting.
Speaker 3 (18:10):
Sure, so working with an assumption that you are at
least on the bare minimum, know what your expenses are.
For someone who gets their income coming in on the thirtieth,
they do their pay day routine maybe on tttioth or
thirty first latest first, let's not push it. Yeah, so
you have one paiday routine. Now for like my Alex
was working with today, we need how many paiday routines too,
(18:32):
which was we asked herself. So when this first batch comes,
what do we do with it? So we pay rent,
we buy food, we bulkshop that so by the time
the second one has come, the first one doesn't take
care of any savings or the investments. Then when the
second paycheck comes in, now she handles what wasn't handled,
(18:53):
which is, okay, how much are you putting in the MMS?
We need to service our mortgage and then we need
to do there. Now, imagine someone who gets I mean
ark with even like clients for example in Australia who
sometimes get paid weekly or bi weekly. Yeah, you need
a paid day routine that I'm saying. People's systems are different.
Speaker 1 (19:13):
Yeah.
Speaker 3 (19:13):
Yeah, So like especially for people who have say your
own influencer with freelancer, there may be contracts that you know,
oh this one is a three month contract or a
six month contract. Right, you want to actually assign or
allocated and say, okay, when this money comes, I will
I do a lot of prepaying. For example, as a freelancer. Yeah,
(19:33):
anytime I get big money, hey are happy? Yeah, I
will have my emergency if I'm funded for the next
six months, because I don't know the next.
Speaker 4 (19:42):
Time this kind of contract is coming. Correct.
Speaker 3 (19:45):
Yeah, Yeah, I've had instances where I've paid rent six
months in advance. Your safari com or zuku wund katas.
Are you from paying your internet six months in advance
for example?
Speaker 4 (19:56):
Yeah, you see those things.
Speaker 3 (19:58):
So it's just a matter of figuring out because not
everyone's cycle of how your money comes in is the same. However,
you know, if you've done freelancing long enough or you've
done your gig long enough, you know it may not
be regular, but there's a Yeah, there's an ebb and flow. Yeah,
and you've you've probably noticed or picked on on that
(20:21):
you can bank on and say, Okay, so when this
money comes in, I'll do this, and then when this
had a batch of money comes in, I'll do that.
That's still a system.
Speaker 1 (20:30):
This is so interesting because I didn't know that was
a system. I've done the rents, like repaying rent, and
in all my adulthood, I've never had such calm I
think mine is making. Yeah, it was so stressed free
exactly exactly. It was so stressed, and I didn't like
(20:52):
I Actually, before then, I didn't know you could.
Speaker 3 (20:56):
Do that exactly. And that's one of the most powerful
things for someone with regular income if you can learn
the art of prepaying whatever can be prepaid. So it's
an aspect of knowing, and I think this is also
really powerful. I had to also learn how to handle
very high incommands and how to handle low incomments. Again,
the strategy should be different. So when I have that
(21:17):
high incommand, I know I'll do a lot of prepaying,
including into my savings, Okay, including into my debt if
I have any, because maybe next month I will have
the same yeah, or the same client yeah, or the
same flow in my business. And then also know how
to handle the low incommands.
Speaker 2 (21:36):
Yeah.
Speaker 3 (21:37):
Sometimes I have low incommands that have gone two or
three in consecutive months, so I've had to normalize going
on no spend challenges for example. So I'm like, the
are months that, yeah, I over so much, but maybe
this month I want over that. Yeah, the air months,
I'm branching every Saturday and Sunday. Then this month's people
(21:57):
a wandering Yeah I am. Yeah, it's just a matter
of just knowing this is how I'll be handling. Like
for me, on a low incomemnd, I go on what
I call a bear bones budget. I think we talked
about it in our last wellness session. Yeah, it's a
necessities only Yeah, it's yeah, like only what is necessary. Yeah.
Then on the high incommnds, fine, I will do my nails,
(22:20):
get a massage, because we still have to enjoy our money,
but I'll also ensure it's distributed through all the important departments.
Speaker 1 (22:28):
Okay, and this is I think it's also important to
note that there is no shame in scaling down when
you are navigating a low incommand. Yeah, and it calls
for you to be a bit more organized. At least
for me, I've learned that low incommands, I'm not coming
to Nairubi as often as before. I'm just like, no,
(22:51):
feel costs. It's one of the easiest things for me.
I'm like, yeah, feel costs down down.
Speaker 4 (22:57):
You normally go, I don't know, once every two weeks
to spoil yourself.
Speaker 3 (23:01):
No, exactly.
Speaker 1 (23:03):
There is no shade because you know, there's some necessities
that will require your your money exactly.
Speaker 3 (23:10):
And sometimes we even have no income months mm hm.
That is why for me, especially being aware of your
high income months and maximizing on that becomes really important. However,
now on a more long term planning, Yeah, and I
think this is easier said than done, but it's one
of the most powerful things A freelancer can do you
(23:34):
have to look at your business strategy differently, Okay, and
you have to stop running because even I mean even
an influencer or a freelancer whever, we're all businessmen. And yes,
so you you've at some point you've got to stop
running the business like a chiaosk.
Speaker 4 (23:50):
Please repeat it.
Speaker 3 (23:53):
No, I'm so serious, like yeah, at some point you're
gonna decide whether is this a serious thing? Is it
now our business? And then begin to educate yourself on
how businesses run and start practicing. Yeah sne because now
you want to look at your income strategy. Where does
my money come in? Where where does my money come from?
Speaker 4 (24:14):
Actually?
Speaker 3 (24:15):
Are their opportunities for me to make this permanent or
semi permanent like this stream of income for example?
Speaker 4 (24:22):
You get yes?
Speaker 3 (24:23):
So for instance, I well, gosh, am I going to
say this in public? Let me just say I don't
like social media genuinely, like it's not I tell my
friends nik social media honestly the activated you just have
hit my financial independence. But you know what every Friday
on YouTube, yeah, I do a video. Yeah it's because
(24:47):
as long as I've done it long enough to know,
as long as I put up a video every week
on Fridays. At the end of the month. It may
be peanuts, but it's some dollars here that I can
do something we I know I can do shopping for
the house with that money, even if that's only to
do so. Like I started identifying, number one, what are
(25:08):
my income streams in my line of work? And how
do I start identifying the ones that I can make
permanent or semi permanent. You will change even the way
you approach negotiation and constrasts because now I'm not in
the business of doing when hits wander week, company X
for this month and that's it. I'm more interested in
(25:30):
figuring out, so how can we strategically partner for the
next year long term? How can I strategically partner with
this company for the next six months? Right, you begin
to even think, especially for us in the online space,
what are some of the things like you know what
we're doing, like webiners.
Speaker 4 (25:45):
And your plands.
Speaker 3 (25:47):
There's always gonna be somebody who needs the information that
is on the webiner digital products like done for your
cookbooks or downloadable templates or whatever. There are so many
wild opportunities that we can and I think the moment
you changed again your mindset around your business, and then
you start thinking like a business person. I've always said,
even if even when my business was one woman show,
(26:10):
I read some I can't remember where, or I had
someone on a podcast say that if you're trying to
build a business that you think will sustain your lifestyle
or possibly even outlive you, you have got to give
it for Tune five hundred company treatment. So you need
to study how they run. Yeah, so there is these
people know inflows outflows what Giico here does not know
(26:32):
how much money she made last month. She doesn't know
how much she is even expected to go out, So
you know those basics. The way you hire is important,
your location is important. Your brand, oh my goodness, just
how people perceive your brand. Like all of those things
feed and that is why for me, while people think
these things are not important or the like, you're really
overthinking it.
Speaker 1 (26:53):
No, you're not.
Speaker 3 (26:53):
I all feed into my chintin in the count, which
is what I'm interested in.
Speaker 1 (27:00):
I'm always telling a colleague of mine, I'm so happy
I overthink thing. Sure, I'm so happy I overthink thing.
And I you know, I completely agree with what you're saying,
because when you start to look at even before looking
at your freelancing as a business, I think also looking
at your skill as a value exactly. You know, then
(27:23):
you start thinking how can it generate income even when
there's no advertiser or partner like on its own, so
that every month, even if it's bringing you three thousand
bomb every month, at least then you're sured, Okay, there's
three thousand, Bob, WiFi is sorted.
Speaker 4 (27:41):
You know what I mean, your I'll never you know,
WiFi is sorted.
Speaker 1 (27:45):
So I think one other thing we're going to be
looking at at the wellness dotop because you're not giving
you guys all the things.
Speaker 4 (27:52):
But this conversation is really exciting. We're also going to be.
Speaker 1 (27:56):
Looking at some of the mistakes financial mistakes that we
make on this side as freelancers, as entrepreneurs. I remember,
just when you're talking about the Fortune five hundred company.
One thing that I think was very important for me
to do is I sat down with a farmer because
I've always just been wondering your business is also hectic
(28:18):
because your product is once you have harvest, did it?
Speaker 4 (28:22):
The shelf life is.
Speaker 1 (28:23):
Going down, right, But you have a timer going and
I'm just like, how do you handle this? And kind
of like he was running me through what they do
blah blah blah. And I learned things that seem like obvious,
but I wasn't doing it, like listing down every single
(28:45):
cost I have. There were just some things that fuel.
Speaker 3 (28:51):
Because if it wasn't for their business, would you leave
your home that day? No, Like you're probably going to
prospect an opportunity that's a business cost.
Speaker 4 (29:00):
Airtime?
Speaker 1 (29:01):
Yeah, right, And so you know, I still remember he
was much older and he was like, I need you
to go and write down all your costs. Take me
through what it takes you to do, what it is
that you need to do to get the audience, to
get the partners, to get the revenue.
Speaker 4 (29:22):
What take me through all of that?
Speaker 1 (29:24):
And let's cost everything, right, I remember that being one
of the mistakes. So what are some of the mistakes
that you see as financial mistakes? You see us in
business making?
Speaker 3 (29:34):
The biggest must be not having a line between business
and personal money.
Speaker 4 (29:40):
That's the and natonism.
Speaker 1 (29:43):
It's I'm just gonna have to cuss, it's a mind
fuck because let me tell you to dates, I still
have to catch myself when the lump some payment comes,
I know in my head, I'm.
Speaker 4 (29:56):
Like, girl, we and then I'd be like to.
Speaker 3 (29:59):
Know, no you can't, Yeah, no you can't. It's it's
it's it's it's huge. And I feel like once you
figure that out, fine, You've not like figured out everything,
but I feel like it's solving half the problems we have,
especially when it comes to finances as freelancers. The day
(30:20):
I understood that Susan wan Jico and the legacy have
are two different entities. Let me tell you what I
did when, especially because listen, our client has paid me today,
then I'm going to care for to get near whatever dinner.
Speaker 4 (30:34):
Yeah, you like dip into that other.
Speaker 3 (30:36):
So you see, and it affects everything, even how you
collect your payments because honestly, if you leap on me
to empass that, I just pay me on it.
Speaker 4 (30:44):
I don't like that.
Speaker 3 (30:45):
The will power it takes, yeah, now runs far the
money from Myson into the business bank account.
Speaker 4 (30:51):
I all of a sudden, the buttons are too many.
Speaker 3 (30:54):
You know, So so I think it's really really important,
and I think it comes back to event structures.
Speaker 4 (31:03):
The most basic structures.
Speaker 3 (31:04):
Let me tell you very simple things I've done in
my business that I feel have supported me in that journey.
Speaker 4 (31:09):
It's OK.
Speaker 3 (31:09):
Perfect, but I think now I'm getting better. The first
thing I did is obviously registered the business as an entity.
I know we are all like, oh, I'm gonna have
to pay carere but genuinely, if you're gonna again, if
you're building a legacy business, something that you believe in,
something that you're like, this is gonna probably be handed
(31:30):
down even generations to come. You can't avoid ties forever.
Speaker 1 (31:34):
Yeah.
Speaker 3 (31:35):
Yeah, And then of course when you invest, maybe let
me talk because one of the reasons we don't register
these businesses or register or separate the actual entities is
because we don't to shed too much light on our soults.
And when you actually work with professionals, like a really
good accountant, you figure that by the time you see
that costing, by the time you take out.
Speaker 4 (31:54):
All the court yeah, it's it's actually sheltering. It's doing
you as exactly because.
Speaker 3 (31:59):
You'll end up paying very little in taxes. Yeah, because
you have to take out all your expenses. And then
there's some reliefs and maybe if you are contributing into
a pension, there's all some relief there. So I actually
personally end up paying very little like what I thought
i'd be paying in taxes for example. So that's the
first thing I did. I registered the business. Then the
(32:19):
second thing that I've done is that my bank account
and the business bank account to in fact, they're not
in the same I was gonna say, in the same bank, right,
So those are two. So say Casey B has my
business account, Stanchard has my personal life.
Speaker 1 (32:37):
So there's no way any day they will And it
must be a hassle for you. You had to point
to catch yourself like what am I doing?
Speaker 3 (32:45):
Yeah?
Speaker 4 (32:45):
And I tell you why?
Speaker 3 (32:46):
How that now has come into play later on in
the business because I'm now an year five of running
my business. Now, when I did that, I went down
to the very Let me tell you, I now have
two phones. And the reason I have two phones is
because of some people genuinely, either because they're abroad or
they're having issues, they want to pay into a number
(33:07):
I don't want you. So I got the business line,
it's on a separate phone, and then my personal line
is on it. So when money in this phone is not.
Speaker 4 (33:15):
My yeah, and I don't know how to see it
until I'm doing my books exactly.
Speaker 3 (33:19):
Yeah, O, get down to you see this app that
I use? Yeah, because I have two phones. I have
the money Manager on my personal phone that tracks personal expenses,
and then I have the money Manager on the business
phone that tracks business expense. Two accounts, two different accounts,
you understand. So it may look like it's very small things.
(33:40):
But like the more I kept like stacking those habits,
I realized, like, now it's a very clear distinction between
what's my money and what's the business money.
Speaker 2 (33:50):
Right then.
Speaker 3 (33:52):
Now, of course, as the business grows, you begin to
realize if you ever get to a point where the
business now once Because a lot of us at businesses,
and I find that's also another mistake. We run businesses
and maybe I'm pretty sure you have like a makeup artist, Yeah,
you have a videographer, Yeah, you have a style list,
you have an editor, all of that. Or someone who
sells clothes in town has the shop attendance, they have
(34:16):
the social media manager or assistant yeah whatever. All those
people are on a strict payroll. Yeah, so they're paid
every month.
Speaker 4 (34:27):
But paying adele is where you're dreass That's so true.
Speaker 3 (34:31):
So that's mistake number two. We don't put ourselves. It's
like you started the business, you're put in the work,
you've put in the sacrifice.
Speaker 4 (34:37):
And you're continuing.
Speaker 3 (34:38):
And you're continuing too. And it's like this business is
for other people. It's paying everyone else a regular salary,
but it's not paying you a regular salary, no matter
how small.
Speaker 4 (34:48):
Yes, it beats.
Speaker 3 (34:51):
Who's this business for? Yeah, and it's a charity.
Speaker 1 (34:54):
It helps you.
Speaker 4 (34:55):
I think.
Speaker 1 (34:55):
For me, what I always say legally to Loss Africa,
I'm an employee, Yeah exactly, and it actually makes me.
Speaker 4 (35:03):
More disciplined for I'm like me, these are my roles
and I have to do it.
Speaker 1 (35:08):
But for a long time, I wasn't paying myself because
I just thought, oh, we're not making enough money.
Speaker 4 (35:13):
It's like sacrifice.
Speaker 3 (35:15):
And even if you pay yourself changes, I've not said
put yourself on payroll and pay yourself five anyway thousand
you know, yeah, we all So you see that that
kind of like puts a stop to the hemorrhaging business
money because them because if you don't put yourself on salary,
do you know, it's very funny when you think about it.
Imagine that. Yeah, but now without any plans, no boundaries
(35:40):
or limit. Yeah, but you say if you're like, okay,
and the easiest way to figure out how much you
need to pay yourself? I know some people say, oh percentages,
this percentage is that For me, the easiest thing was
to do what I'm calling the bear bones budget. Okay,
by bare minimums my necessities. My business should be able
to get to a bit where it can pay my necessities,
that my rent, my food, my transport on the bare
(36:03):
minimum utility is an air time yeah, period. Yeah, I
don't have to go to fancy nail parlors or whatever,
just my bare minimums. And if it isn't, then that's
good information for.
Speaker 4 (36:15):
You because how do we get it to?
Speaker 3 (36:16):
How do we get there? You get so because we don't.
We don't. Again, we're not doing this strategy and we're
not strategizing, we're not figuring out okay, so now the
business and again we're not even doing accounts, we're not
doing books, we're not doing record keeping. So you're not
even able to see influence outflatsh you you just know
social media manager, I'm fifteen, Yeah, videograph I'm fine, But
(36:39):
like you've not really looked at the P and the like,
have you actually done this is my income, yes, and
my expenses. This is the profit or loss that I made.
Speaker 4 (36:48):
Yeah.
Speaker 3 (36:49):
So those are the two major mistakes. Not separating business
money from personal money. Yeah, and also not actually assigning
a salary and listing you for you yourself okay, lipower
payroll director and a happle.
Speaker 1 (37:03):
Yeah.
Speaker 3 (37:03):
And I know we are told, okay, sacrifice, sacrifice, and
it's true. Yeah, when the business is starting, you may
not be able to take as much, but eventually you
should be able to start taking twenty thirty forty to
the points that you can now pay yourself a comfortable salary.
And if you run the business long enough and you're
(37:24):
still not able to do that, then that's cause for concern. Again,
I think a lot of us are. We call that
the sunken cost fallacy. And that's another mistake by you
took a loan, or you your friends contributed, or you
emptied your savings and you started this gig, you started
this brand, You had a vision, you had a plan,
but for some reason it didn't work out us you
(37:47):
thought or you planned. Many of us because of the
sunken cost fallacy, we're not able to cut our losses
and decide or accept aha that this isn't what it's
not working. Cut it off now, I need to go
back to the drawing and the thinking. Cost fallacy shows
up even in how we invest. You put money and
then you're like, what you report and then you're just like,
(38:07):
you don't to accept the laws just like they tell you.
Speaker 4 (38:09):
Oh yeah, No.
Speaker 3 (38:12):
It happens in relationships too. You're like, oh, but you see,
I already did a wedding.
Speaker 4 (38:17):
You already.
Speaker 3 (38:18):
I already have three children like you.
Speaker 4 (38:20):
It's not why let's forgot another one.
Speaker 3 (38:22):
Let's just try let's say maybe the fourth you so
this abusing this relation? Yeah, you understand. So I think
even financially speaking, I think one of the most critical
skills as business people in terms of finances, we need
to have is knowing when it's time to call it quits. Yeah,
when it's time to just be like, something somewhere is
(38:44):
not working. Because if I've done my business like five
six years and it's been six years, I've invested, I'm
paying other people, but up until this point, I'm not able.
Speaker 4 (38:53):
To sustain my on the bear my life.
Speaker 3 (38:57):
Yeah, impair yourself an annual bonus y ten millions. Just
can you pay your rent?
Speaker 1 (39:02):
Yeah?
Speaker 4 (39:02):
From the business.
Speaker 3 (39:03):
Can the business pay you enough to pay your rent?
Speaker 1 (39:05):
Yes?
Speaker 3 (39:06):
Can the business pay you enough to afford fueling your
car or at least transport where you work? So I
think following the numbers is everything, honestly, So for me,
I did rectify the mistakes at least now I can
say like the finances in terms of personal finances and
business finances are separate.
Speaker 1 (39:25):
Yeah.
Speaker 3 (39:26):
I have a small lian team of three. I have
a videographer, a web development and a virtual assistant in myself.
So when we are doing payroll, we do for four people. Yeah,
Susan included like not that money sent from KCB the
business account now standard mane. If I decide to go
CU lack a bag, it's my business you get and
(39:47):
whatever money was left in KCB, if any, it's mine.
Speaker 4 (39:50):
It's the businesses exactly Yah.
Speaker 1 (39:52):
And you know this is so interesting to learn because
even when you say you have a lean team in
my industry, I think you have the team that the
business required.
Speaker 4 (40:02):
Now exactly right. I think sometimes one.
Speaker 1 (40:06):
Thing I had to realize growth is steady, and it
might not be at the speed.
Speaker 4 (40:13):
I think it is.
Speaker 1 (40:15):
If you're not aware of that, you can lose money
chasing the appearance of growth.
Speaker 4 (40:21):
But it's not theirs.
Speaker 3 (40:23):
Like I think, growing too fast can be a challenge,
and I think again, another reason I don't like social
media is because every weekend there's someone launching something. Every
It's like, do you know Adele, I think I told
you this before. I started my business in my bedroom, right,
guess where I'm still. It's not in the bedroom, but.
Speaker 4 (40:48):
Yeah, in my home with a very nicely done backdrop.
Speaker 3 (40:51):
That I can use for videos or whatever. Because I'm
just like listen, I know everyone, and occasionally we will
get a phone call from someone and say hey, annually
financial advice, Hey equally offician.
Speaker 4 (41:04):
So you might feel the.
Speaker 3 (41:07):
You know people, some people take me seriously if I
don't have like an office or whatever. And those are
some of the things I think. I prefer to live
by my truth as opposed to setting up offices so
that once in two weeks one client can come in
and you know, experience for one hour for one hour.
(41:27):
So I pay rent, I pay receptionist, I do fittings
and fixtures in a new office space just so that
on Instagram, I can post and say, hey, guys, this
is the office you can find us, but like seventy
percent of my caln teile is actually Kenyan's in the diasporas.
Speaker 4 (41:43):
Yeah, we are doing this thing.
Speaker 3 (41:45):
On Zone online, right, So if I was to succumb
to the pressure of people saying, hey, but you've done
this business so long, now you guys need to have
an office. So I think also that growth is good,
but as you said, it really needs to be aggressive.
And I think for me a nice rule of thumb
that I use to determine whether I need to be
doing it. It's not what people are doing or what
(42:07):
people are asking for, It is the business asking for Read.
Speaker 2 (42:11):
Yes, this is just part one of my conversations with Susan.
Part two will be out next Wednesday, but remember to
sign up for our wellness talk on the twenty fifth
of October, where Susan is a guest speaker and it's
geared for entrepreneurs and freelancers and she will be helping
us build financial stability with irregular income and we're also
(42:36):
going to talk about investing, retime, and planning and so
much more. Grab your tickets now there are one thousand,
Bob in the show notes, there is a link, and
remember if you resonated with this episode, share it with
the people that you love and care for and who
you know could benefit from this particular conversation.
Speaker 1 (42:57):
Thanks for listening to the Midwikti'sigually Clueless Africa production episodes
go out every Wednesday, and you can learn more about
us by going to legally Clueless Africa dot com.
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