My first Business Venture...

As I enter in to a new business venture, I couldn’t help but reminisce about my first one…

When people talk about the mess our wonderful Nation was in a few years ago and I nod my head in agreement or shake my head in despair, I am not being over dramatic. I have been there, done that and got the T Shirt.

I must have been about 19 years old when it all happened. I had it all worked out, the capital was there, I did my research, bought the necessary inputs (a mould, the wax, twine, a scissors and a pot), hired an employee (hehehe), a unemployed gentleman who assured me that he had experience in candle making. Yes, that was the business, CANDLE MAKING). The rationale- I live in Zimbabwe were power cuts are the order of the day, someone out there needs a candle every day.

So anyway, production started in no time, we were in business, I was in business. You can just imagine the excitement.

Production ended and I must say the end product didn’t look so bad. I have seen better candle but these weren’t that bad, really.  Next step was finding a customer…. Much thought and investigation led me to the one customer I knew would not be able to resist my charm…and product. And what would you have, Daddy dearest did buy all my “not so bad looking” candles.

We negotiated terms and he asked for a week to move the stocks before he could pay, I agreed and informed my employee (hehehe) that his salary would be paid in a week.

So the week lapsed and Daddy dearest did pay up. I paid my employee (hehehe) and paid myself a little too (for all the hard work I had put in).  Now comes the ugly part, I went back to the wax store to purchase more wax, things were going good, I was on a roll here or so I thought. I got there with my wads of Zimbabwean Dollars only to be informed that the price of wax had tripled in the two weeks that I had been away.  You can imagine the disappointment.

I made frantic efforts to find an alternative supplier but guess what; desperation doesn’t force things into your favor, not by a long shot. There was no cheaper wax in Zimbabwe and South Africa was not an option, my wads of Zimbabwean dollars could only buy so many Rands.

After just one order my business had gone broke. No one told me that at that time in Zimbabwe it made sense and was considered ethical to charge exorbitant prices in anticipation of the prices of inputs increasing. NOONE TOLD ME!!!!!

But guess what, most successful business people have a story similar to mine to tell…so watch the space…my next venture might be the one…