Friday 6 December 2013

FROM STUDENT TO ENTREPRENEUR

 ENTREPRENEURSHIP UPDATES:The success of mobile money transfer service M-pesa has inspired


numerous mobile technology innovations in Kenya. The technology industry has been booming recently gaining attraction from Kenyan youth. Martin Njuguna, 33, Founder and CEO of Digital Vision EA has been in the sector for 10 years now.Here is and except from the interaction with him about his journey in entrepreneurship, Kenya’s Silicon Savannah, the challenges he has faced and lessons learnt. Read on.
How did you get into business?
NJUGUNA: It was out of necessity. I started when I was in university studying Computer Science. I began distributing mobile phone airtime to shops around campus. I just wanted to make money on the side but, eventually I saw the potential of business. It can create employment and a lot of wealth. At the time [2004] I would make about Ksh.600 ($7) per day as profit, which was a lot of money for a 23-year-old student. I was also the Chairman of what was then known as SIFE (Students in Free Enterprise) and is now called Enactus. We used to teach students about how to start a business and in the process I learnt a lot about entrepreneurship. I immediately I finished my studies decided to start a company as opposed to going into employment. I founded Digital Vision EA and we began building websites that was a big interest for me at that time. Eventually I brought on board staff to help me, got a small office and today we have a workforce of 11. It has been a great and fulfilling journey.
What was your initial experience when you started you business right after school?
NJUGUNA: Well, the harsh reality hit home; that I needed to put food on the table for myself and at same time I was trying to learn something new. I was very good at embracing the challenge. I remember my first project brought in Ksh. 23,000 ($270). The early days were very good. We learnt a lot. I will always advice people to start small because you learn a lot and make mistakes that come with lots of invaluable lessons.
You are one of the entrepreneurs who will be launching products and services at the Demo Africa conference in Nairobi later in the month. Tell us about the product you will be launching.
NJUGUNA: We will be launching Chamasoft, a simple to use web application which we have created specifically forChamas(Swahili for investment groups) to address the challenges they face. Some of these challenges include lack of transparency, lack of proper records and miscommunication. We have created a platform which has both the accounting capabilities that are required by Chama’s and also all the communication tools they require. It is an easy to use and very secure service.
What inspired you to build Chamasoft?
NJUGUNA: It was always my desire as an entrepreneur when I started to create products. I am a creative writer and poet. So, I enjoy creating stuff. Chamasoft luckily is one of the things I am creating. I came across the idea for Chamasoft because I belong to a Chama and we were having a lot of problems. I decided to build Chamasoft to solve those problems and eventually I saw a market opportunity for the product. There is a huge market opportunity for Chamasoft. Research indicates that there are at least 300,000 groups in Kenya. They also indicate that one in every Kenyan belongs to a group.
What challenges have you faced along the way?
NJUGUNA: As an entrepreneur running your business is very fulfilling and challenging at the same time. The challenge is making sure you know what the market needs. As a technology developer you can build so many products and services but if you don’t develop something that the market needs then it’s is all a waste of time. You need to understand the market you are targeting.
You started your business at a very young age. What advice would you give Africa’s youth about entrepreneurship?
NJUGUNA: I would encourage them to start early, even while they are still in school. The reality in Africa is that we need more entrepreneurs so that we can create enough jobs. Use the ideas you have because I know everyone is gifted in something. They should not just complain about the lack of capital. That is just a mindset. I would tell them to just start where they are with the little they have. It is very important for people who want to venture into entrepreneurship to start small. They should keep an open mind, be willing to make mistakes and learn from those mistakes. The mistakes you make in business are not a matter of life and death. But, the learnings you get are very critical in your journey in entrepreneurship.

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