Irene Wanjiku is the founder and CEO of Rexe Roofing Products Limited

Saving method: Personally, I prefer to use saccos for saving. They offer greater annual dividends, easy access to loans and easier payment terms. For instance, if you save Sh. 5,000 every month in a sacco, you will have accumulated Sh. 60,000 in a year. This means that from your savings, you will be able to access financing up to Sh. 240,000, which you can then use to grow your financial base. However, you must always carry out your due diligence before joining a sacco.

Financial milestone: Looking back, I can say my greatest financial milestone has been the actualization of the kidogo kidogo hujaza kibabamantra in my finances. I started working at age 19, and for a period of about 10 years, I saved and accumulated funds that eventually enabled me to quit employment and start my own company. I started the company with Sh. 3 million. Looking back, I can say my secret has been consistency and constant quality enhancement. I believe this is the key to making it in any industry.

Building wealth: Personally, building wealth for me has been a daily routine. I do not wait for a specific time to create wealth, but rather, take decisions that daily fulfill my goals. I believe that wealth must at all times be handled with the future in mind. This means that you need to make more money than you spend, and invest the difference wisely. To begin with, there is no point in accumulating wealth without a proper succession plan in place.

Losses in business: I have come to learn that losses are inevitable in business. You will come to deal with clients who refuse to make payments or even suffer losses induced by disloyal staff members. Personally, I have put up proper contracts, processes and structures that help me mitigate losses in my business.

If I could turn back the clock: I would still live my life the way I have because I believe that every stage of my life was preparing me for this moment. Why? I prefer to think of mistakes as life lessons. Life is a journey with no precise roadmap. If I make a mistake, I’ll not beat myself up too much with regret, but instead will try to take the lesson on how to do things next time.

Partnerships in business: They can make or break you. Most of them fail because of unmet expectations that were not clearly defined from the start. To get it right, always draw up a legal agreement that details your stakes in the business, how you will operate, or part ways if you decide to close the venture.