In 2011 as the age of 31, as we were ambitiously expanding Joadah Consult, one of the projects we started was our headquarter construction in Entebbe. This in the short term ended up being a disaster. Although after ten years we are now enjoying the office. It became a disaster because the capital we had accumulated for the company was consumed within a short time, so running the company became a problem. We had to stop the construction on the first floor.
With an unfinished house in the posh Bugonga area of entebbe, in 2012 we hatch a plan to start poultry business. We started with the Broiler Chicken. This was going on very well. Within 5 weeks you are minting money. All the chicken will be taken. We then thought of starting layers which we thought will make daily money once they start laying eggs.
We sold the broilers and went for 1,000 layers. We bought from a company which had just started and was selling cheaper.
After feeding these guys for six months, we started seeing some few laying. By the eighth month only 100 were laying. Calling the expert to check on the chicken. Most were cocks. I almost fainted. Anyway we counted our losses and sold them as offlayers. We then ordered from an established company 500 layers. The business went on very well. This business gave birth to our dependable farm in Kasanje.
LESSONS
1. When you start a business lay ambitious plans but move slowly.
2. Be careful starting capital intensive investments which don’t have quick return on investment. First invest in the young company.
3. Cheap is Expensive
4. When you fail in the business, don’t necessarily close it. Change strategy.
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