Ronald Kimani is the Head of Business at Silicon Solutions Limited, a content service provider of Bulk SMS, SMS shortcodes, USSD, mobile payment integration and mobile app technology solutions.
Biggest milestone
In 2017 the business created a mobile raffle gaming system. Last year it created the first ever mobile virtual scratch card games. These two creations became unrivaled pioneer products of their kind in the Kenyan gaming industry.
Currently, we are in the process of creating a sports betting service under our brand Spotika. These milestones have taught me that people don’t buy the ‘what’ or the ‘how’ in your products or services. They buy the ‘why’. This is a competitive edge in the market that requires a thorough understanding of the end-user-needs, preferences, habits, and desires.
Building a successful career
My secret is the unquenchable thirst for information. I traverse objectively on the web, read widely on the future of mobile technologies and position the business for the opportunities that lie ahead. For example, I am currently spearheading our R&D for the forthcoming 5G technology at a time when IoT (Internet of Things), AI( Artificial Intelligence), and Blockchain Technology are already in place.
Making it in life
From my experience, the secret to making it and thriving in life is not owned by a single individual. You need to identify and focus on your strengths, and then get like-minded partners. Build a team of players with common vision and passion.
Many Kenyans go wrong by trying to juggle all the ingredients of success and the elements of a good business on their own. The selfishness to partner and share the journey easily becomes the biggest catalyst to failure in entrepreneurship. Always remember that you are as strong as your weakest point.
Biggest money mistake
I once invested a lot of my savings in the packaging industry, about which I had very little knowledge about and ended up with huge losses. I learned the bitter lesson that before you invest in any business, you must acquire an in-depth understanding of the field. You must also get mentors who will help you merge the knowledge you acquire with your start-up or investment.
I have also learned that everything also happens for a reason. You can never lose everything no matter how deep the losses run. Try to identify the good elements within your loss and maximize on them. My mantra is to avoid mistakes, correct what cannot be avoided, and learn from what I am unable to avoid and correct.
If I could go back in time
I would pick industry mentors early enough. That way, I would avoid a lot of the start-up mistakes I made when I started my entrepreneurship journey. Learning from the hands-on-experience is a tough path. It is better to use other people’s experiences to shorten the learning curve.
Saving method
I save through short-term investments like money market funds and high-yield savings accounts. Previously, I had tried to invest through life and education policies. The problem with these was that they tended to lock money for a long period of time. They also had stiff penalties if one became unable to keep up with the premiums.
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Entrepreneurship versus employment
I am an advocate for entrepreneurship. But unlike employment, entrepreneurship has no income guarantee. You must stay on your toes at all times, and consistently develop need-based solutions for current, potential and future clients. It requires regularly breaking sweat, but the effort is worth it in the long run.
My parting shot
In business, your ability to collaborate with others – especially on areas that are not your strongholds – will determine how far you go in life and how successful you become. Run your own race without comparing your milestones with those of your peers.
It is not mandatory for you to get validation from peers when it comes to your self-worth. Always remember that it is harder to maintain character when at height of your career or when money comes in plenty than at the start-up stage. Be cautious and measure your steps.
This profile feature on Ronald Kimani was first published in the Saturday Magazine. The Saturday Magazine is a publication of the Nation Media Group.