Tuesday, June 18, 2024

Paul Mwangi: I started my first business at 23, made Sh3.2 billion in the first year

Paul Mwangi is among Kenya’s millionaire entrepreneurs who are making great strides in the United States of America.

The businessman moved to the US to advance his career in aviation after completing a diploma in Avionics Engineering at the Kenya Polytechnic.

Co-Op post

However he switched gears and decided to venture into entrepreneurship inspired by his parents‘ success in the venture.

However, before setting up the business, Mwangi needed to study Accounting after realising that it would come handy in his entrepreneurial ambitions.

NCBA

He graduated from the college and secured a job before quitting to set up his first business in 2002 at just 23 years old.

His first business was in the health sector and dealt with the supply of pharmacists to governments.

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The business peaked quickly, raking over $25 million in revenue in the first year and got listed on the New York Stock Exchange two years later.

Fortune 500, one of the biggest US companies by revenue, was impressed by Mwangi’s company performance and inked a deal that saw Fortune 500 become the new owners of the company.

Mwangi’s expertise further prompted Fortune 500 to hire him as a consultant for two years. He left the firm in 2011 to start a staffing company still in the healthcare sector.

His clients were states and cities, and the company boasted an annual revenue of a staggering $120 million in its first year.

The entrepreneur shared his belief that America offers abundant opportunities, and a college degree is not a prerequisite to achieving a six-figure income.

All it takes is discipline, networking, and seeking guidance and mentorship from the right people.

Source: Mukurima.com

 

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