Mary Ndinda is the founder and chief executive officer at Bloomgain Consultants, a virtual CFO firm that provides Chief Finance Officer services to SMEs that can’t afford to hire a full time CFO.
I started my business as a consultancy idea. Then I realized that my approach was too general. I needed to specialize. I opted to specialize by offering c-suite expertise to SMEs who were struggling to understand their business numbers.
With the 2020 pandemic, businesses have been seeking to minimize on costs and maximize on profits, and one way of doing this has been through outsourcing the finance solution.
My virtual CFO services include analyzing a company’s monthly reports, providing insights and streamlining business operations, and maximizing on business growth.
I once invested in software that did not add any value to my business. I saw this software advertisement and it really looked like the missing piece in the puzzle of my business. I thought it would save money and make my mode of operation friendlier and efficient.
But alas! It turned out to be very expensive to maintain. There was no value for the money I invested in it. This experience taught me why it is important to balance between business needs and finances, and how to align my business with the necessary, affordable technology.
Don’t get lost in technology. You might spend a whole bunch of money and get zero returns. Not every innovation is a good fit for your business.
I was held back by my own fears for a long time. I would not notice or take advantage whenever opportunities to advance my career and finances presented themselves. I would never have dared to be different.
Looking back, I can say that there is a risk in being too averse to risk. Your personal development is sluggish or totally derailed. I have since learned to put my fears aside and embrace whatever opportunities come my way.
It is not easy to save money when you’re in business and income is not always guaranteed. But I have found a strategy that works. I treat my savings as part of my monthly liabilities. This ensures that every end month, there is money going to my investment account.
When I started, saving seemed like a burden. As my saving habits have improved, putting money aside no longer feels like a burden, but is now more of an investment.
Keep learning and become a better version of yourself. The world is changing at a very high rate. New technologies are emerging every day. New ways of working and making a career are evolving daily. The only way to survive and remain relevant is to take the lessons and adapt accordingly.
Njugush: This was my first monthly salary on Tv
Network widely. Your network is indeed your net worth. I am where I am today because of collaborations and clients’ faith in my services. If you are in one line of career, explore how you can be better at it. There is no hidden secret in making it in life. I believe in putting in the time and hard work to achieve results.
You cannot start a business today and imagine clients will stream in from day one. You have to market the product, provide exceptional customer experience, be good at what you do and the rewards will follow thereafter.
I have not always been in business. However, pairing business and employment side by side, I have learned more from being in business than employment. I have met people I would not have met. I have gained insights across different industries and that I would not have imagined.
My approach to business and finances has really changed. That is not to say you cannot learn from employment. But you must know what you’re cut out for and how to evolve towards it.
A version of this profile feature on Mary Ndinda of Bloomgain Consultants was also published in the Saturday Magazine. The Saturday Magazine is a publication of the Nation Media Group.
