Rosemary Wahome is the founder and managing director of Beyond Profit Kenya Limited, a sustainability consulting firm for businesses looking to initiate, grow and report on Sustainability.
I registered the business in 2015 while still employed. On the promise of the first client, I resigned and used the retirement benefits to pay for my initial training in Sustainability Reporting. The initial capital was Sh. 210,000 and this went into legal fees, training and stationery.
It took 1 year to break even. The biggest lesson was very humbling. The entrepreneur always believes their product is the next best thing and the market might not necessarily think so. Know where the market is at. That would have saved me a couple of months and I would have made more headway in capacity building than in looking for consulting work initially.
I was employed before running the business having worked for NIC Bank (Now NCBA Bank), TechnoServe, UN Habitat and Business Mind magazine. All these positions contributed to understanding Sustainability and ultimately on running a business. The transition from NGOs to private sector pushed me to research about CSR and Sustainability and see what the global trends were. Working at the bank and seeing it initiate Sustainability was quite enlightening.
Kenya Airways now flying to New York daily, London 14 times per week
Knowledge and skills are essential for my line of work. As such we rely heavily on training and capacity building. Initially, I would spend thousands on any training I could find on business management and entrepreneurship. I once sank Sh. 73,000 on a 1 day training only to find that the content was not applicable to my business. Now, I am more intentional on the courses I take and those that the staff take.
We recently began to work with a client on Personal Sustainability plans for their employees. It was inspiring to hear the staff speak of the changes they have made in their lifestyles. For some, it initially started with cost savings on water and power bills but now they can speak of investments in solar and water harvesting, enrolling their upcountry staff on NHIF and NSSF and purchasing green products. It is a testament to the changes we can make as individuals and it is so fulfilling to be a part of that change.
I should have researched more on what was happening locally to understand the market rather than focusing on where the market needed to go. Bridging that gap would have made a lot more money sense. Secondly, I should have picked a different co-director, a co-founder who would have put in more hours on building the business and someone who understood our offering.
I should also have leveraged on partnerships from the onset. It would have brought the milestones closer and allowed us to move quicker while building great relationships. Lastly, I should have relied on my support system more; that listening ear goes a long way in keeping an entrepreneur motivated especially on the lowest days.
I’ve found that some of the services available from our banks are underutilized. I have a standing order each month to make sure what I have set as my target saving amount moves even before I spend it.
I also have a sweep that moves the balance to a saving account when it starts running low as well. The money moves to a SACCO and the annual dividends cater for school fees effortlessly. Previously, I would depend on my memory to remember to move money for savings and that did not go too well at all.
Start with employment then get into entrepreneurship. In larger businesses, you will appreciate the systems that keep the business running and these you can then emulate in your business later. With smaller businesses, you see the grit and hustle it takes to build a business. At Business Mind, I could see the payroll, the sales struggles first hand and that still imparts how I run the business.
Do your job honestly and diligently, it pays off in the long run. Start early. You are not too young to save. Look for bargains; there is always a more affordable rate somewhere. Finally, live within your means without comparing yourself to others.
 A version of this profile feature on Rosemary Wahome was also published in the Saturday Magazine. The Saturday Magazine is a publication of the Nation Media Group.
