Immediately after her university studies, Mercy Ndung’e secured the coveted employment opportunity in the corporate world. Despite the opportunity, she was dissatisfied. This resulted to her changing jobs thrice in a span of three years, before deciding to try her hands at entrepreneurship.
Her first attempt was in the poultry business. She reared chicken but just like her stint in employment, it failed miserably due to mounting bad debts which forced her out of business. She took time off business to rethink her next move. While at it, she explored her passion in baking, taking any opportunity to bake for her family and friends. She never thought much of it until she was urged by a friend to pursue it as a business.
She got capital from her husband, which she invested in honing her skill by attending a baking course as well as purchasing equipment to kick start her pursuit.
I linked her up with Kate Gitonga the founder of Kate’s Bakers, a company that has established itself in the business over the last 17 years. Here are some entrepreneurial tips shared by Kate Gitonga.
Know your strength in business
What is it that you are good at doing in the business? Is it overseeing operations? Managing finances? Sales? It is pivotal from the onset to establish that which you are good at so that as the business grows you get to transition from doing everything in the business to concentrating on that which you are good at.
Invest time into your business
A business grows only as much as the time invested in it. To ensure that the business grows, the entrepreneur has to invest most of their time in the business, more so in the early phases of the business. It will take upto two years to establish a business.
Buy inputs at minimal costs to maximize profits
Success in the baking industries lies in the cost of your inputs. The industry is highly competitive and therefore clients are wary of the prices charged. Therefore, to ensure that you are profitable, costs have to be minimised. Purchase your inputs on wholesale or directly from the factory or farmer.
Constantly seek feedback from clients
Your client is your greatest asset in business. Not only do they ensure that your business stays afloat by buying your products, but also do provide much needed feedback for the growth of your business. As an entrepreneur one should always be intentional in seeking feedback from the client in order to better their business.
