Thomas Njoroge Karari is the founder and managing director of Romara Designers, a business that specializes in indoor and outdoor rustic, artistic and modern furniture and décor
I founded my business way back in 2011. At the time, I started it as a fashion design brand which I was using as a side hustle to raise my college fees. I worked on this brand until 2018 when I decided to recreate the whole concept.
I remember how I came up with multiple sketches as I attempted to come up with ideas. From the list and sketches I made, I narrowed down to recycling materials into designs that could be incorporated into home décor.
I was fortunate enough to find one client who believed in my idea and made a deposit for their home to be designed. This client was the open door that ushered my idea into the business it is today.
Building a business from recycled materials was not easy. There were clients who tended to underestimate recycled materials. Some thought they were cheap and not durable while others assumed they were easy to acquire and as a result wanted their invoices discounted.
This has however changed gradually with more customers trickling in from referrals. Today, I have sold designs for and worked with corporates, a feat that has enabled me to accelerate my growth, customer base, and operating capital. I can say that I have broken even.
I was too keen to grow when I started the rustic business. This led me to reinvest everything I earned from my sales back to the business. I would buy more materials to stay fully stocked. While this was in order, it meant that I didn’t have any money left for saving.
I was not enjoying any benefits for my sweat at a personal level either. If a customer came and placed an order for a design whose material I did not have, I had no way of funding it because I had used all the money to restock.
I was also too exposed in the event I encountered an emergency that would require liquid cash. In retrospect it is critical to create a balance between capital reinvestment, liquid cash flow, and personal benefits. Drawing a pay is one way to stay motivated in entrepreneurship.
I am in an industry that requires constant creativity and research. This is a truth that I came to learn about when I was already in the business. Had I known this earlier, I would have paid more attention to the creative area of the business.
I would have purchased the better working tools earlier too. That said, I harbor no regrets in the way the business has panned out. It has been a learning curve at times and I am satisfied with the outcome.
I handle my finances in phases. There is a phase in which I will pay more attention to saving. There is also a phase where I will dedicate bigger chunks of my money to the business.
Currently, I am not in the saving mode, and am instead pooling my funds together to acquire more efficient machinery and creative tools. I believe that these acquisitions will help the business become more punctual, and production more efficient.
Angela Wambugu: Saving my money in MMF works better than fixed deposit
Nothing comes easy. The phrase ‘Jitume’ is very real for entrepreneurs who want to succeed. It doesn’t mean waking up at 4am, but rather doing what is currently and ambitiously necessary to give your business an edge, such as purchasing more efficient, modern working tools.
