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Saturday, October 24, 2020

Why I Use Money Markets To Save

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Maishah Marsdenhttps://shopinkenya.com/
Maishah Marsden is the founder of Shopaxo(ShopInKenya.Com) and TechMag( TechMag.Co.Ke)Blog. He is a top Kenyan blogger causally called by his peers as "Life'. If he is not writing your favorite articles, he is with his family. He loves sport and won't mind going on Safari anytime.

Saving in Money Markets: In this article, Joy Mathenge an event manager speaks of how she began her events planning business, what the Coronavirus pandemic taught her, and why she prefers to save her money in the money markets.

The words after this paragraph are her own. Please read on.  

My entrepreneurial journey started by chance. I was the sole planner of my wedding back in 2018. After posting a few photos of it on social media, I got so many inquiries on which company had panned the wedding. I actualized the idea. Most connections I have today were established at the time of my wedding.

Building a business idea is like raising a child. You need patience, knowledge, and a good understanding of what you are doing. You need a lot of lasting and meaningful relationships with your clients.

Passion for what I do has been my greatest motivator. Seeing satisfied customers has always led me to be more innovative in my service delivery. This has in turn to lead to greater customer loyalty. I have also found out that honesty is the best policy. It is always important to explore all possibilities, but always be honest to your capability. There are many who promise heaven and deliver hell, all for the chase of money.

Before the pandemic hit, things were moving and business was thriving. There was a steady stream of revenue from the business. After the pandemic hit, things came to a halt with last-minute cancellations and plan changes that drastically affected our revenue stream. This has been our most challenging period especially because it is beyond anyone’s control. But I have learned to always ready to adjust.

Always diversify in business. Invest in opportunities that will generate revenue in and out of season. This, if one of the business ventures fails, there is still revenue from other ventures. I do not regret my past, but I feel I should have invested more time learning more about event planning.

Saving in Money Markets

Money comes and goes, what lasts is what you do with it. I have been saving using the money markets. With money markets, your principal grows reasonably over time and the level of risk is inadequately spread.

Life is a journey and the span of it is taken one step at a time. Keep a steady footing in life and success, however small, is sure to come. Do what you love. Be passionate about your business, be innovative, be courageous enough to fail, but not once, but each time you do, get up, learn, and bounce back. The common saying that Rome was not built in a day still holds true.

Joy Mathenge is the founder and CEO at Style Savvy Events Planner Kenya, an events planning firm in Nairobi.

This article first featured in the S Mag Magazine, a publication of the Saturday Nation.   


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