How to Benefit from Budget Proposals

Here is how you can harness Budget proposals to make more money from your business or hobby.

The tradition of budget proposals by the government have come a full circle.

In the proverbial good old days, business people would use all sorts of tricks, legal or otherwise, to make more money.

During the price control regime, for instance, one of the most common trick by businesses was to hoard essential stock bought at old price, and whose prices was expected to go up. They would then release the goods afterwards and they would, literally, make a kill.

With liberalization the same still happens but in a different guise. Nowadays, it requires a more calculative and subtle approach of a lion in the prowl. The rewards are however great. No wonder the number of millionaires has shot through the roof.

This is how it works:

First and foremost, find out what the budget proposals aim to achieve and contextualize it from your point of view. Consider, for example, possible avenues of tax relief and other incentives.

Adopt an extroverted entrepreneurial culture, in terms of the utility you offer in return to your cut/ profit. This means going beyond profit motivation. It simply implies working with what is practical and sustainable.

A charitable organization might, for instance, target high potential areas, such as immunization for children among pastoralists, which are likely to attract government and public support.

Similarly a banker might want to build publicity in non traditional advertising that supports the issues of the day, for example, supporting youth mobilization programs that reduce unemployment and crime rates, such as training programs and community policing.

The kind of goodwill generated this way is priceless asset for any organization or individual. A good example of this is Google, which has built enormous goodwill through its programs which are all inclusive, for both the poor and the rich.

Secondly, harness the power of technology. The Silicon Valley did not make money out of nothing. There is something about technology that works.

It is not the sophistication of the technology. It is relevance that counts. In other words, if you cannot munch your omelete with a knife and fork, use your bare hands.

A farmer, for example, might need only a text message to determine where the crop is in demand.

Third, appreciate your hobbies. Many, if not all, hobbies have monetary values attached. Among the (relatively) rich, including Bill Gates and Dennis Oliech, made money because they were committed to their hobbies.

Similarly, Kenya Commercial Bank (KCB) started it Safari rally sponsorship during the reign of a CEO who was a rally enthusiast. Today, the program is a huge source of its positive publicity.

Fourth, start now where you are with what you have. This may include both tangible and intangibles.

You may, for instance be in top physical form, which means you can invest in physically demanding chores that would attract only the fittest. You may be educated or highly experienced, meaning you may have sound ideas to work on. You may be a good organizer, meaning you can mobilize others behind a cause, and so on.

Lastly, if you are lucky enough to inherit wealth do not blow it.

Good luck. Now you know how to harness the import of the budget speech.

Note: You may want to read ‘How the 20 Richest People in Made Their Money ’ available online: http://goo.gl/jwzax.