Kuza biashara had a community engagement day on the 3rd of October 2018, where a number of entrepreneurs were invited to learn, connect and grow their business. The speaker, Mr. Edward Ndegwa was invited to give the topic of the day, “How To Grow Your Business”. As an entrepreneur who has built five successful businesses and one failed one, Mr. Ndegwa gave several tips to the entrepreneurs who attended the workshop.
As an entrepreneur, it is important you recognize that the world is dynamic. Technology as well as techniques keep changing. You have to make sure that you are up to date with current trends. If you were using the traditional ways of marketing, then you would need to change to the new ways such as social media. In other words, do not get stuck in one way of doing things. Just because you think your way is the best doesn’t necessarily mean it is the best. So constantly keep up to date with what’s happening around you and be willing to learn new tricks.
Reputation is everything when you are starting out. Create trust between you and the people you interact with. No one wants to do business with an untrustworthy person. Having a good reputation will come in handy when you need financial support or someone to vouch for you when you’re engaging with clients and investors.
As an entrepreneur, use what is readily available to you at the time. Do not use scarcity of resources as an excuse as to why you haven’t started your business. Start with the idea and the little resources (financial or human) that you have and work to expand them.
Make sure to align your goals with who you are and your values. Live within your means as it will take your startup some time before it starts making you money. This means that most of the initial profit will need to be recouped back into the business. Do not be in a hurry to acquire the latest car model or move to a posh estate because you feel that your new status of ‘entrepreneur’ requires you to. Who you are at this point is a startup and your goal is to take it off. Shake off anything that does not add value to that process.
You have this great business idea, what is the next step you think you should take? Find investors and clients abroad? Wrong. Pitch to the people closest to you before you can take the idea farther. Also remember business don’t do business with business but people do business with people so pay attention to details by listening and pitch according to client. Each client is unique.
Mr Ndegwa emphasizes that entrepreneurship should be about solving a problem rather than just making money if the entrepreneur is to succeed.