In 2019 I invested some significant cash in a small manufacturing business which makes tomato ketchup and other products. These are my key lessons as an investor:
1. Your capital is going to be tied up for a long period of time with a real possibility of never recovering it.
2. Prepare to get your hands dirty in the day to day. You cannot afford to be hands off.
3. Make sure you have a good team running things. The business is only as good as the people.
4. Run many experiments and keep what works, discard the rest.
5. The learning curve is steep and you will make many mistakes. Learn from these and move on.
6. You will run out of money or come very close to closing the business. Don’t.
7. There will be an unexpected problem every day. Get used to it.
8. You are unlikely to make any money in the first couple of years. Keep pushing.
9. You will be tempted to pursue different business opportunities. Keep focused on the original vision but be flexible to new realities.
10. Hopefully the business will grow into something meaningful to sustain your grand children. In the meantime take each day as it comes.
(the pic shows a sales team delivering our tomato ketchup to a school around Wakiso)
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