This a summary of notes I took when I attended an After Office Talk by Kennedy Njoroge, the CEO of Cellulant. Ken is leading Cellulant to achieve its mission of building a world class, value-driven $1B business by digitizing payments for the largest economies in Africa. Cellulant currently has more than 300 employees across 13 markets; servicing 33 countries in Africa.
Read more about the company here;
A little Background.
Ken is a career entrepreneur having co-founded 3Mice Interactive Media which grew from a two-man team to a leading web development firm in East Africa. He headed 3Mice’s Technology, Strategy and Solution Development teams as its Solution Design Director. The team was responsible for conceptualizing and executing digital projects covering e-commerce platforms, content management platforms and e-business platforms for more than 50 blue chip customers in different sectors in the region. In 2000, 3Mice was acquired by Africa Online.
Takeaway Points.
1.You must build a team.
If you don’t have the money, sell your vision to talents… Pursue team members who will help you build your business. Do not be a one man shop.
2.What is your why?
Why are you starting the business? To change the world? What does that mean? You must be clear minded why you are starting the business. You must figure your why. Daily you must ask yourself this question.
3.What is your what?
Are you growing as a business? A business that isn’t growing is dying.
You have to meet the expectations of your clients as well as your employees.
These questions, the WHY and the WHAT normally set the foundation for your business.
What is your revenue and valuation goals?
World class business needs world class clients.
Seek world class clients. Ken started by seeking Safaricom etc. as his 1st major client. Once you start with such clients, other world class clients will follow suit.
4.Know yourself.
Not in a superficial way. When you look in a mirror, what do you see?
Knowing your talents, skills is key.
What is your talent? What is that is special about you and your talents?
Hunt the best people you can. Even if you can’t afford your employees’ salaries, find a way to meet their basic needs. Show that you care.
Look for the best guys for your business. Cellulant started as one person business and stayed that way for 2 years… and then grew to 7, and finally to the current 300.
5.Allow people to critique your methods of management.
If you change yourself, the business changes. When you grow, the business also grows.
How do change? Listen to your friends, and change. Make it safe for your friends to criticize you, and then practice self-reflection.
6.Always be ready to learn.
Know when there are issues to be tackled. And how to solve the problems. Listen to the moments when the business requires changes and act.
In early years, be hands on… and later on give people space to grow.
It is during your low moments that your why is tested.
7.Business is about solving problems.
All problems affect hundreds of millions of people in Africa. Solve these problems.
You will become entrepreneur through practice.
MBA will not help you become a better entrepreneur. MBA can help you become a good manager but not a good entrepreneur.
Sometimes, too much knowledge can be a hindrance to your progress.
8.People work for people and not companies.
They work for you.
People have dedicated their life and time to you. So invest a lot of time in cultivating good relationships with your people. Inspire your employees to do well in their life and work. Invest your time and resources to enrich their lives.
9.Meet deadlines you give to your clients.
Ken lost his first major client/business because of missing a deadline
