- President Uhuru Kenyatta and Deputy President William Ruto chairs the first cabinet meeting at State House, Nairobi. President Uhuru Kenyatta Thursday directed an audit of all ministries as part of a far-reaching
The biggest challenge that any
entrepreneur in Kenya goes through is how to network. How to learn what
others know, and carry themselves as they hunt for deals and customers.
How to pitch ideas and look for capital for support. All these can be
told by how one carries themselves. Those who have been in the game for a
while show a confidence that tells you all, that they know my way
around, have everything mapped out.
Entrepreneurship
is not a lounge for anyone to go and pass time. Its a kiln that shapes
one's character and redefines their purpose. Mistakes underwrite new
entrepreneurs and if not careful, could them booted out in under six
months. Failure lays down the red carpet for success to arrive and
patience gives you the true option.
They say that
patience is a powerful tool if wieled properly and I believe
entrepreneurs are masters in wielding this. Without patience, then
success becomes a mirage. The lessons learnt do not become of any value,
but a throbbing scar that never heals.
It’s vital that
entrepreneurs know and avoid common potholes on the highway to success
and sustainability in their endevours. I have always called myself an
entrepreneurial student because I am still learning through my dreams
and ambitions as I weave them with my mistakes and lessons that are key
to becoming an entrepreneur that has a place among men and women of
repute in the industry.
These key lessons would never
have come if it weren't for me making grave mistakes that put my firm at
risk. Put my reputation on the chopping board and challenged my
integrity to the core of its foundation. Failure knocked constantly but
faith and beacon of being of value to my society kept me going.
I
am sure each entrepreneur has unique challenges and lessons learnt
dependant on the business, the drive of ambition and the environment
under which they are operating but certain lessons cut across the
horizon of entrepreneurship.
For me, these lessons are key. If any entrepreneur ignores them, the abyss of permanent failure awaits.
FOCUS
Our
biggest challenge as young entrepreneurs is that we are scatter brains.
We are a jack of all trades. To achieve permanent and sustainable
success we must focus on one thing until victory is achieved. In Lessons for Entrepreneurs from a Navy Seal
Martin Zwilling calls this front-sight focus, or the ability to
envision your goal to the point that you see it, believe it, and make it
happen. Failure to envision this will puts you all over the map. No one
will respect you and no one will want to work with you or let you near
their brand.
The biggest challenge is that as young
entrepreneurs, we never believe in ourselves. Our price tag or value is
normally very minimal. One thing I learnt the hard way is that until and
unless one believes in themselves, then no one will. No will buy your
product or service or listen to you. If you consider yourself cheap,
then the world will view you as that, cheap and unworthy.
When
I started off, I was very impatient. I wanted to things to happen
instantly. I needed my employees to get clients, and those clients to
buy our services immediately. I needed them to pay up before we even did
the work. I was impatient and in the process, I almost ruined the
business. My father had to summon me to the village, and he told me that
patience is key and underwrites an entrepreneur’s timeline of success.
He insisted that patience is a powerful tool, which if wielded properly,
could achieve a lot. With time and scars, I have come to vindicate
this. Entrepreneurs need to learn to be patient. A good soup is cooked
slowly.
Sometimes entrepreneurs have an ego that kills
their business even before it picks up. I learned this the hard way. I
was not eager to meet other likeminded people because I was afraid my
ideas would be stolen. What I forgot to realize was that through
networks I would grow my business. I would meet potential clients and
even partners. Through the years I have learned that networks are the
arteries that feed a business. Without them, a business dies.
PEERS WHO DISCOURAGE
Hanging
out with people in the course of business transactions as we shared
ideas was a challenge. One thing became. As Kenyan young entrepreneurs,
we do not like to partner, we do not like to see our peer succeeds
better than us and most important, young Kenyan entrepreneurs operate in
an environment that feeds off a toxic vibe. Gossip has been the norm
and sabotage with friends and peers discouraging you so that they can do
what you doing.
No business can grow without
advertisement in this day and age of digital platforms; it’s paramount
to make advertisement a key aspect of any start up. I didn’t have anyone
to guide me on this and I never focused on it. I had good products and
services but ultimately no one knew about them. No matter how small your
business is, advertisement is key and with social media taking over
advertisement, it’s become easier than ever now to set up something.
They
say that to be exposed better, one must travel often. Well, as a young,
struggling entrepreneur, seeking exposure through travel is impossible
as you trying to save up, trying to grow your business. Hence the
alternative would be to read and read widely on issues current affairs.
On matters your business. Reading exposes one, at least in theory form,
the needed guidelines to learn from others and how they succeed and
failed. Without reading and most importantly travelling, then one would
stare at the abyss of ignorance.
When I started my
first business, I never thought of mentorship. I never thought of
seeking out someone who was older, mature and stable in their business
to mentor me, to guide me, to help me make decisions. The element of
mentorship never crossed my mind until a few years later, when I had
accumulated enough points through my mistakes to buy a Ferrari. It’s
suicidal to get into business without mentorship. This is a lesson all
entrepreneurs must hold dear to them.
BEING CUNNING
Another
key lesson was that being a man of your word guaranteed your business.
It meant that your word was your capital, your collateral. This is
something many young people do not understand. We think by being clever,
being cunning, we will reach the valley of riches faster. Being a man
or woman of integrity is key and paramount more than anything else. It
is the insurance of your business. It protects your brand.
The
final lesson that I have learnt the hard way is the virtue of self
control. Through the ages, kings and queens and great men and women
battled this. In the Bible, King Solomon talks of he that can control
their emotions being greater than he that can kill a lion. This is very
true and throughout history empires have fallen just because the CEO was
not properly self-controlled. An entrepreneur should not mix their
emotional life with that of the business. Girlfriends, boyfriends and
pen pals should not come close to a business, unless and until the
partner or spouse is an equal partner and can share in the risk.
The
element of capital, resources from a boyfriend or a girlfriend should
be a no. Because the moment you disagree, you wouldn't know what to do,
return the money, spend it the business, or prevent a public fallout.
Borrowing money from a girlfriend or boyfriend should be the first rule
that an entrepreneur should never break. Never borrow from such to fund.
Nascent business. Many lessons lie therein. When you’ve got a big hit
on your hands, embrace it, capitalise on it and occasionally change it
around to keep it fresh. Learn from networks where to seek finances.
They
say mistakes are the best teachers for a business man. I hope sharing
my lessons will help many an entrepreneur to navigate this realm and
succeed.
Twitter : @sokoanalyst
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