Kevin Mutiso is the CEO of Alternative Circle, a local firm dealing in micro-lending on android app.
Investing and Saving: My trick has been to ensure that my investments and savings are always balanced. This ensures that I invest in assets that I have control over and balance the risk. I will not take a bigger loss than I can cushion. For example, I will invest in my firm, which is a high risk start-up and ensure that I have a plot, which is a low risk asset.
Biggest Career Mistake: Lack of a filing system has been my biggest mistake so far. While I was still employed, I lost a major contract at work. Unfortunately, before I could find it, my employer demanded that I produce it. We urgently needed to prove to a client that they had some critical obligations to fulfill. I couldn’t and as a result, I got fired. Since then, I have learned to always have a meticulous filing system whether at home or at the workplace.
Employment or Entrepreneurship: Having been in both fields, I have learned that neither will truly reign over the other. It all boils down to what you love and being the best at it. For example, if you are a movie maker and the business aspects of making movies bore you, the best you can do is just become the finest maker of movies. Entrepreneurs who are in the movie business will then effectively pay you whatever you want.
Biggest milestone: My firm stands as the biggest milestone yet. Founding it was a culmination of 10 years of training and apprenticeship by the world, mentors, failures and victories. It also came shortly after I was named among the Business Daily’s Top 40 Men Under 40 in Kenya. Looking back, I have learned that one never wins or loses; you only win or learn. Everything in life is a lesson you can learn from and to remember these lessons for the future is what will sharpen how you do what you do. For instance, making it to the top entrepreneurs list vindicated my conviction to move from employment and found my own firm.
Biggest Loss: In 2012, a client borrowed a huge amount of money with the promise that he would pay it back. He completely reneged and there was nothing I could do. This taught me the importance of having all documents and follow-up procedures signed.
Getting seed capital: From my experience as a start-up entrepreneur, I have learned that raising capital is less about your ego as an entrepreneur and more about the value you put on the table without over-estimating its worth. In the same vein, I have found out that no one wants to invest in your idea so early. An investor would rather invest in your business when they can feel that there’s something tangible to sell.
