Angela Kamanzi My Journey in Entrepreneurship
You know what your passion is. You know the need this passion can satisfy in the market. You can’t wait to register your company, patent your idea and start your own business. Here is the reason you should hold your horses a little longer however.
I have recently met entrepreneurs who have got all the paperwork right but haven’t identified their ideal client, or have a product that they can’t sell.
Before investing a lot of money in your start-up, take the necessary time to research the market. You may find that what appears as a need to you isn’t one for that particular clientele.
E.g. The need for professionally trained domestic workers is huge among the growing Kenyan middle class. However, very few jobseekers are willing to pay for and take a course designed for househelps. This is a factor you have to take into account if you decide to venture into this field.
If you are targeting corporate clients, avoid making big investments before you are assured of a market. Corporate entities take time to adopt a new product or change a system they are accustomed to. No matter how innovative your product or service is, they will not touch it until they are confident that your company is able to deliver to satisfaction.
I suggest you start with smaller clients. This will allow you to beta-test and refine your product or service. Build your brand and acquire a reputation, and when time is ripe, you will not struggle to get those big clients.
Take time and research the market.
Angela Kamanzi
Your Friend in Biashara
