A tough time in my life was when I disagreed with my friends and business partners. I created the company during my university days, so I attached my identity to it.

I lost my sense of purpose in business for a few weeks. Then, I went on my annual travels, and that’s when I got the idea for my new company. I fell in love again with the journey of building the business and the startup. I prepared myself to build the company with care over time.

One day, I went out to pitch for my new startup. Investors and an audience of tech enthusiasts invited me to present. I had no plans or intentions for raising funds, so my pitch was more relaxed and calm. I considered the event more of selling than fundraising.

I was surprised when the investors expressed interest in funding my company after the pitch. I was not ready for the investment, so I had to ask my partner about the investment deal and whether we should take it. We agreed to accept fifteen thousand dollars from the investors.

Well, here is the problem; we didn’t have any plans for the money. So we had to make plans after getting the money, and that was the hardest thing to ever do. We started coming up with plans and ideas on how to put the money to good use.

In no time, we could not see the money, and our plans and ideas hit dead ends. We found it easy to throw money into unnecessary ideas or problems that didn’t need solving. Since we have got money from an investor, we had to follow their rules. This meant preparing reports and altering our desired pace of company growth.

The biggest lesson we had during that phase was to always have a plan first before looking for money. If you have plans, then you can find ways to get the money needed to push the plans. And you will add to the chances of accomplishing the plans.

Waiting for money to come and make plans for them is a dead end. I had a fifteen-thousand-dollar learning experience. I took it from the business and applied it to my personal life. Nowadays I have plans for each and everything that needs money. Then I find money for the plans; the execution couldn’t have been better.

If you wait for your salary before making plans, it will disappear faster than the days in the month. You will always find yourself borrowing and bootstrapping to reach the next salary. 

If you wait for profits from a venture before making a plan, you’ll always be waiting. You won’t remember where the last profit went. 

You can wait for your $15,000 learning experience, or you can start planning now. Learn from your situation and make those plans before the money comes in. Create a budget first before you receive the salary or income. If you don’t, you will be surprised at how fast the money disappears before you attack any plan.

May you be happy.

May you be healthy.

May you be free from suffering.

May you find peace and joy.

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Rogers Katuma

Financial Artist, Senior Adventurer, Occasional Storyteller and an Amateur Golfer