FAIL FAIRE: THE MISTAKES PEOPLE MAKE - SERIES 1 ~ EP.4: DON’T BE OBSTINATE, PIVOT!

“Blind stubbornness, in the face of impossibility, is not persistence, it is simply dumb” ~ Anonymous. 

In just six months, my business was doomed due to my conceited, narrow-minded, and stubborn mindset, which bordered on arrogance and prevented me from accepting helpful advice from others. During my initial year in business, I often adopted the ostrich policy when confronted with tough decisions, metaphorically sticking my head in the sand and avoiding the reality of the situation. Consequences are seldom instant; instead, they accumulate until the inevitable day of reckoning finally arrives, and the price must be paid for our poor choices.

Here are some of the mistakes I committed:

Mistake #1: Reluctance to Adapt: Initially, I hesitated to embrace change, even as market dynamics shifted. I clung to outdated methods that I had employed six years prior in a different market demographic. I disregarded the evolving business landscape, attempting to persist with practices that had become impractical.

Mistake #2: Stubbornness in Strategy: My stubborn adherence to a failing business strategy proved disastrous. Despite the business's failure to capture the market, acquire new customers, and generate revenue, I resisted the need to pivot and evolve quickly, clinging to a sinking ship. My hardline stance in resisting necessary changes created a rigid business model incapable of adapting to unforeseen challenges.

Mistake #3: Indecisiveness in Key Moments: Faced with critical decisions, I often faltered in making timely choices. Due to a sheer lack of agility, I clung to an idea or became stuck in one stage of building my business for far too long. This indecisiveness led to missed opportunities and delayed responses to market shifts.

Mistake #4: Ignorance of Warning Signs: I turned a blind eye to the warning signs of impending failure, ignoring market signals, customer feedback, and internal challenges that hindered me from taking corrective measures. I disregarded red alerts, where my business was depleting my savings without generating income. Furthermore, arrogantly dismissing valuable advice from family, colleagues, and market feedback proved to be a grave error.

These mistakes are the culmination of choices that didn’t seem to matter then, until everything was lost. However, I believe that successful businesses thrive on a foundation built with the wisdom gained from learning from mistakes.

Here are the lessons I learned:

Lesson #1: I now embrace change willingly and consistently monitor the market landscape. I have come to understand that stagnancy leads to obsolescence, and adaptability is the key to staying relevant in the ever-evolving business environment.

Lesson #2: I now recognize the value of flexibility. Business strategies should be dynamic and ready to pivot when circumstances demand. A rigid strategy, when confronted with failure, only hastens the downfall. Flexibility is a survival skill; businesses must be agile and adaptable. I also learnt that hardlining against change creates vulnerabilities, hindering the ability to navigate unforeseen challenges.

Lesson #3: I have learnt that the cost of indecision can be higher than the risks associated with making imperfect choices. I will no longer wait for the "time to be right" to start doing something worthwhile because the time will never be "just right."

Lesson #4: I am now vigilant, paying attention to warning signs such as customer feedback, market shifts, and internal challenges. I am cultivating humility and openness, acknowledging the expertise of others and valuing constructive criticism.

The critical lessons learned shall form the bedrock that aids me in building and growing sustainable business ventures, now and in future. While remembering that there is a fine balance between endurance and obstinacy. Obstinate is stubborn, inflexible, and intransigent while endurance is tenacious, resolute, persistent, and determined. 

FAIL FAIRE: THE MISTAKES PEOPLE MAKE - SERIES 1 ~ EP.3: DON’T DREAM ALONE, LEVERAGE!

‘Give me a lever long enough and a place to stand and I could move the whole world.’ ~ Archimedes

Building and running a successful startup is challenging. It demands tenacity, focus, passion, patience, perseverance, planning, and promotion. However, that's not all. The truth is, you cannot do it alone. To quote Scott Rigsby, “If you can accomplish your dream alone, then you are not dreaming big enough.” When alone, you lack leverage. You have to rely solely on your knowledge, experience, money, and resources. This is the lengthy, arduous path to building a business. Eventually, your resources run out, leading to discouragement and the possibility of quitting. I learned the hard way that starting a business solo, without leaning on the support of others, was a recipe for spectacular failure!

Here are the mistakes I made:

Mistake #1: I failed to leverage Other People’s Experience (OPE): I did not seek out a mentor, not because there was a shortage of mentors, but because I thought I knew everything about business. I believed I was too smart for anyone to advise me otherwise. This was a case of unconscious incompetence. The failure of my business could have been avoided if I had someone walking by my side, listening to me, advising me, and holding me accountable.

Mistake #2: I neglected to leverage Other People’s Time (OPT): I did not assemble the right team, making three critical mistakes. Firstly, I didn't define specific roles required for the business. Secondly, I failed to consider recruiting team members based on their skills and competency. Lastly, I didn't allocate time to train, mentor, and supervise my team. The consequences of these three mistakes resulted in a dysfunctional, unmotivated, and unproductive team.

Mistake #3: I overlooked the potential of leveraging Other People’s Ideas (OPI): Despite being a member of powerful network groups, I failed to identify key contacts with significant influence. If I had effectively harnessed the power of networks, perhaps my business wouldn't have failed.

Mistake #4: I didn't explore the option of leveraging Other People’s Work (OPW): Despite knowing that business operations involve multifaceted practices beyond my expertise, I didn't consider outsourcing key components from experts. If I had considered outsourcing or delegating, my business might have survived.

Mistake #5: I failed to leverage Other People’s Systems (OPS): Influential figures like Tim Berners-Lee, Vinton Cerf, Robert Kahn, Bill Gates, Paul Allen, Mark Zuckerberg, Jack Dorsey, Richard Stallman, Steve Jobs, Steve Wozniak, Reid Hoffman, among others, have played pivotal roles in shaping the world of technology. They significantly contributed to the development of computers, the internet, operating systems, social media, and software. Had I optimally used these systems and tools for fast communications, quick calculations, and rapid decisions, I could have accessed instant information and achieved speedy results.

Mistake #6: I didn't leverage Other People’s Money (OPM): I relied on my savings to start a business due to my ignorance about using investors to help build and grow my business. If I had utilized external funding, I might have been more accountable and focused on achieving a prudent Return on Investment.

Over the past three years, I've learned that when the combined force of mentors, teams, networks, outsourcing, delegation, systems, tools, and funding is applied to a strong, long lever, miracles can happen in minutes.

Here are the lessons learned:

Lesson #1: Everybody needs a mentor. Mentors have tackled the mountain before you, knowing the terrain, challenges, and pitfalls. They provide guidance on what to do and, more importantly, what NOT to do. Getting a mentor is a shortcut to avoiding lost time and money in correcting rookie mistakes. Mentors also know shortcuts, time-savers, and little tricks.

Lesson #2: Acquiring the right team helps achieve more, faster, and easier. A good team helps spot blind spots, fills in skill set gaps, and can be strong where you're weak. As a team, you can achieve more. A relay team runs faster than an individual runner. If you want speed, you need a team.

Lesson #3: You need the power of a network. Within that network, key contacts control huge networks of people and have the "make it happen" power. A large network increases the probability of finding these key contacts.

Lesson #4: Delegation and outsourcing help concentrate on tasks that matter most, enhancing efficiency, effectiveness, and competitiveness. They allow focusing on core functions, tapping into specialized skills, achieving cost savings, and adapting to changing business dynamics.

Lesson #5: Computers, the internet, operating systems, social media, and software are tools of wealth, fostering efficiency, innovation, global connectivity, and cost-effective business operations. Leveraging these tools effectively positions you to capitalize on opportunities for growing a profitable business.

Lesson #6: External funding helps manage risk, accelerate growth, preserve equity, leverage expertise, and seize opportunities. It offers advantages in tax benefits, market perception, and efficiency gains.

Leveraging OPE, OPT, OPI, OPW, OPS, and OPM can turn challenges into opportunities and pave the way for entrepreneurial success.

FAIL FAIRE: THE MISTAKES PEOPLE MAKE: SERIES 1 ~ EP.2: DON’T GENERALIZE, SPECIALIZE!

“Each man is capable of doing one thing well. If he attempts several, he will fail to achieve distinction in any.” ~ Plato

By the time I officially registered my business as a PLC in April 2016, with its headquarters in Mombasa, Kenya, I had already identified the ventures I intended to launch. These were among the numerous business ideas that had occupied my thoughts day and night throughout my employment. The persistent nature of these ideas tormented me, and the delay in bringing them to fruition weighed heavy on my heart, occupied my mind, and left my hands itching. When the opportune moment arrived, I named my company Techinva Kenya, which stands for TECHNOLOGY, INNOVATION, and VALUE. My objective was to utilize technology and innovation to provide high-value solutions, contributing to positive societal change.

Unaware of the consequences, I eagerly launched five businesses simultaneously under the umbrella of Techinva Kenya. The first venture, Quantum Media Galaxy, was established with the sole purpose of providing administrative, communication, and virtual assistant freelancing services to individuals who were not particularly tech-savvy, as well as business owners and CSO leaders. The second venture, Lena Sparkle Cleaning Specialists, focused on the production and supply of liquid soap and detergents to households, along with offering specialized cleaning services to corporates. The third venture, Z~it!, specialized in the repackaging and distribution of pest control products and fumigation services to households and corporates. The fourth venture, Nam Lolwe Delicacies, involved the sale of fresh fish sourced from Lake Victoria to the residents of Mombasa. The fifth venture, Cloud “9” Wines, entertained Mombasa revelers with alcoholic and non-alcoholic beverages. Quite a handful, isn't it?

The positive aspect of establishing all these ventures is that we successfully developed minimum viable products for each while adhering to legal and regulatory business compliances. This included obtaining standardization, barcodes, licenses, and permits to facilitate smooth operations. We also gained subtle traction in customer acquisitions. Despite discontinuing the operations of the five ventures by 2019, with Techinva Kenya pivoting to focus solely on capacity building consultancy for women's economic empowerment, we still have loyal customers placing orders to date. Moreover, the knowledge and skills acquired while managing the operations of these ventures have been instrumental in building my entrepreneurial traits and abilities. I am confidently leading my business with wisdom, courage, and resourcefulness as I bootstrap.

Reflecting on the past, starting five ventures simultaneously was a mistake, and here's why:

Mistake #1. Resource Exhaustion: Managing five ventures at once depleted the limited resources, including time, money, and energy, allocated to start the business. This dispersion of resources made it challenging to provide each venture with the necessary attention and investment for success.

Mistake #2. Lack of Focus: Running multiple ventures simultaneously resulted in a lack of focus on core aspects such as the market, customers, and industry trends for each business. With attention divided among multiple ventures, I struggled to comprehend and respond to market dynamics effectively.

Mistake #3. Increased Risk Exposure: Each business venture inherently carries risks, and starting multiple ventures simultaneously elevated the overall risk exposure. This jeopardized the success of all ventures, leading to potential financial loss.

Mistake #4. Team Management Challenges: Starting multiple ventures meant assembling a team for each, averaging two staff per venture. Managing such a relatively large number as a business novice then, strained my ability to lead effectively. Additionally, failure to identify teams with the required skills and competency resulted in performance challenges, decreased morale, and productivity.

Mistake #5. Lack of Customer Identification Strategy: Since the ventures targeted different markets, we lacked a clear strategy for customer identification and validation. As a result, our market positioning inadvertently targeted the same customer base, violating the cardinal rule of market segmentation. This confusion contributed to poor sales performance, failing to meet sales targets during that period.

Mistake #6. Limited Industry Understanding: Juggling multiple ventures simultaneously hindered my ability to fully comprehend and adapt to the specific challenges and opportunities within each industry. Rushing into multiple ventures impeded my understanding and led to critical decision-making errors.

They say that the only way to learn is by taking the rocky road of learning from one's own mistakes. Therefore, even though my mistakes gravely cost me, I didn't quit. Here are some lessons I learned along the way:

Lesson #1. Focused Resource Allocation: Rather than spreading resources too thin across multiple ventures, I should have focused on one or two at a time, providing adequate attention and investment. I believe this could have increased the likelihood of success.

Lesson #2. Depth and Expertise: Concentrating on one venture at a time would have allowed me to achieve depth and expertise by maintaining focus on the core aspects of each business. I have since learnt that a valuable business must start by finding a niche and dominating a small market.

Lesson #3. Thorough Risk Assessment: Before initiating any venture, thorough risk assessment should have been conducted, and measures put in place to mitigate potential financial losses.

Lesson #4. Effective Team Building and Leadership: Building and leading effective teams is a critical factor in success. Therefore, I should have considered the size and competency of the teams needed for each venture. Assembling teams with the right skills and ensuring effective leadership and communication would have maintained morale and productivity.

Lesson #5. Defined Target Markets and Customer Identification: I should have clearly defined the target markets and validated customer identification strategies, while positioning each venture appropriately in its respective market.

Lesson #6. Thorough Market Research and Industry Analysis: Thorough market research and industry analysis should precede business launch. I should have taken the time to understand the specific challenges and opportunities within each industry.

Napoleon Hill emphasized that "When defeat comes, accept it as a signal that your plans are not sound, rebuild those plans, and set sail once more toward your coveted goal. If you give up before your goal has been reached, you are a ‘quitter’." That is exactly what I have been doing for the last three years—pivoting, rebuilding, and repurposing my business. Because I didn’t quit, I have been presented with the opportunity to do irreplaceable work on a unique problem alongside great people.

FAIL FAIRE: THE MISTAKES PEOPLE MAKE SERIES 1 ~ EP.1: SPENDING MONEY WITHOUT AN INCOME

Image of Interior design by Celia Sawyer

"Never be foolish enough to quit your job without establishing a passive income or alternative source of income." - Dev Gadhvi

I was raised in a typical middle-class family, where my father, a retired primary school teacher, and my mother, a retired small-scale fish trader, successfully supported six children with their modest income. Despite not enjoying a life of opulence and comfort, we never lacked life's necessities. Our upbringing was characterized by love, discipline, and Christian values, anchored by our parents' mutual love and respect.

One thing I failed to learn from my father was his financial discipline. Despite his almost negative payslip, resulting from numerous loans for our education, building a home, and investing in rentals for passive income, he managed his finances wisely.

During my tenure with an international humanitarian non-governmental organization, where I dedicated over a decade of service, my salary was far from meager, allowing me to maintain a comfortable lifestyle. However, I lacked respect for money, and my relationship with it was strained. Despite upfront deductions for the employer's provident fund scheme and the SACCO, I failed to manage my net income wisely, leading to monthly expenses consistently exceeding my income. This forced me into perpetual debt to cover the deficit, creating a cycle of living beyond my means, paycheck after paycheck.

Lack of financial literacy and failure to follow good business practices, such as seeking the assistance of a financial advisor and a business mentor, were the reasons I made the mistake of spending money without a stable income. This ultimately resulted in financial ruin after six months while attempting to establish the business.

Here are some of the mistakes I committed:

Mistake #1: Quitting My Job Prematurely: I resigned from my job before establishing a sufficient passive income capable of generating money even while I slept. Consequently, the savings initially set aside for the business were diverted towards covering daily living expenses.

Mistake #2: Lack of Frugality: Instead of adopting a frugal approach, I made an unwise decision to maintain my previous lifestyle as if I were still earning a salary.

Mistake #3: Upgrading Living Conditions: I upgraded my living conditions instead of downsizing, moving from a two-bedroom rental apartment to a three-bedroom one simply because I liked the elevator in that building.

Mistake #4: Unnecessary Vehicle Upgrade: I sold my fuel-efficient 1300cc car and added funds to purchase a fuel guzzler solely because I had always desired to drive that model.

Mistake #5: Extravagant Home Makeovers: I indulged in unnecessary home makeovers, such as changing furniture and adding electronics.

Mistake #6: Simultaneous Business Ventures: I attempted to initiate five businesses simultaneously, competing with numerous business ideas swirling in my head.

I strained and mishandled the money I had, and it retaliated ruthlessly, leading to financial hardship. The silver lining in all of this is that running the business provided me with hands-on business and financial skills, allowing me to reflect on and acknowledge my mistakes. Making mistakes helps us discover who we are and why we are here. While everyone experiences setbacks, what truly matters is how we pick ourselves up and learn from our mistakes, fostering growth and resilience. 

Here's what I could have done differently:

Lesson #1: Diverse Investments: Instead of solely relying on self-financing my businesses without external funding, I could have invested 75% of my savings in a diverse portfolio, including T-bonds, T-Bills, Mutual funds, Annuity, Content Development, and Real Estate. This way, I could have earned an income for daily living while building my business.

Lesson #2: Lifestyle Downgrade: A significant portion of the money set aside for business was consumed by daily living expenses. Downgrading my lifestyle, such as moving to a lower-rent house or building a semi-permanent house on my land, would have been a wise move.

Lesson #3: Car Investment: Upgrading my car increased servicing and maintenance expenses threefold, depleting my funds. Instead, I could have sold the old car and invested the money in the business or a passive income venture. Alternatively, converting my car into a mobile office could have saved on business rent.

Lesson #4: Strategic Business Plan: Starting five ventures simultaneously was due to a lack of a clear strategy. Implementing a strong business plan would have guided my actions, treating any money injected into the business as a loan to be refunded.

Lesson #5: Risk Analysis and Market Research: My passion and overzealousness blinded me to identify and analyze the risks associated with start-ups. I overlooked crucial elements such as market research, customer discovery, and validation. This exercise would have helped me assess whether to quit my job or hold on a little longer.

Lesson #6: Financial Literacy and Job Management: Managing my job while building parallel income streams around my passion would have been a smarter approach. Being financially literate, I could have quit my job only after ensuring emergency savings equivalent to six months' daily living expenses, a solid net worth, and passive income from multiple sources were in place.

All is not lost; at times, we need to create chaos to discover who we are and why we're here. We all face setbacks, but what truly matters is how we rise, learn from our mistakes, and grow stronger. Having absorbed valuable lessons, I've invested my resources by actively acquiring business management, investment, and financial literacy skills through experimentation, experience, and participation in various entrepreneurship and business masterclasses over the past three years. 

With the current level of financial literacy I possess, I am confident that if I had the same sum of money that landed in my account in 2016, I would approach things differently towards achieving success.

Paradoxically, if I had not quit my job, I would still be languishing in a life of mediocrity, stagnating in my professional and personal development while watching inflation erode the value of my lifelong savings. Although losing the money dealt me harsh life blows, I emerged from it shining bright like a diamond.

FAIL FAIRE: MISTAKES PEOPLE MAKE. SERIES 1 ~ INTRODUCTION

According to common wisdom, startups face failure when they do not create a straightforward solution for a widespread problem-a fate that befell my entrepreneurial aspirations seven years ago. One bright morning in October 2016, I confronted the harsh truth that I was broke. It seemed implausible considering that just six months prior, a significant sum was credited into my bank account, a portion of my lifelong savings amassed over almost two decades in my career. At that time, I could proudly claim the status of a millionaire (in Kenyan shillings, of course!).

Throughout my career, I grappled with the entrepreneurial fervor that had seized me since my youth. Despite my extensive experience in the workforce, the allure of the comfort zone and a reluctance to take risks prevented me from taking any decisive action. My life became rather ordinary, akin to the life of any average person you might know. However, I found significant inspiration in two exceptional entrepreneurs whom I observed and held in high regard - my late maternal grandmother, Abisage NyaYona, and my mother, Ellena Nyogam. This influence manifested in my childhood roleplays, consistently featuring scenarios of selling something to my peers.

I initiated my first business venture at the age of 10 by selling mangoes every Saturday at the gate outside my father's compound. I would rise early, head to the nearby wholesale open-air market to procure mangoes, and by evening, the entire stock was sold out. I followed a simple business practice that I knew at the time, which was "No Credit, only Cash." I proudly displayed a large, shiny placard with those words written on it.

Several years later, when I secured employment, I initiated a series of side hustles to augment my income. These included supplying pest control products to households, operating a mini convenience shop for my neighbors, and establishing a photocopying/cybercafé for polytechnic students in the vicinity. However, even during this period, my approach to business leaned more towards being street-smart rather than book-smart.

When the entrepreneurial bug had bitten me enough, I began the new year of 2016 with a hard decision-I resigned from my job and stepped out of my comfort zone to explore the unknown. During that period, my belief in what I was doing remained unwavering, and nothing could shake my determination. Naturally, my amygdala, a part of my brain associated with emotions, constantly swung between the fight-or-flight response as soon as I submitted my resignation, leading me to question whether I had made the right decision. The reactions from my family and colleagues didn’t provide much reassurance. It's often said that while those close to you have good intentions, their concerns are not particularly helpful when you're striving to push your boundaries. Despite their well-meaning intentions, they often hold limiting perceptions of who you are and what you can achieve. Consequently, these individuals are most likely to reinforce-or even vehemently attempt to preserve-the old identity you are trying to discard.

Upon receiving the money, I was filled with frenzy and excitement to establish my “empire.” Over the next six months, I dedicated my energy, heart, and finances to running a business until the funds depleted, bringing everything to a halt. On that sunny morning in October 2016, much to my dismay, I realized that my understanding of running a business had been pedestrian. As the saying goes, failure is not a singular, cataclysmic event; it is the inevitable outcome of an accumulation of poor thinking and poor choices. To put it simply, failure is nothing more than a series of daily errors in judgment. 

In retrospection, I failed because I approached and operated the business similarly to how I sold mangoes when I was in grade five. Nevertheless, if I could turn back time, I would still make the same decision to quit my job and start my own business. It remains one of the most pivotal decisions I've ever made in my entire life. Additionally, I find solace in the words of James Allen, who once said, "Let a person rejoice when he is confronted with obstacles, for it means that he has reached the end of some particular line of indifference or folly, and is now called upon to summon up all his energy and intelligence in order to extricate himself, and to find a better way; that the powers within him are crying out for greater freedom, for enlarged exercise and scope." I'm grateful that I had the opportunity, while time was still on my side, to undergo a process of character development.

After acknowledging that bad things didn't happen to me BUT because of me, recognizing my own incompetence, and accepting my failure, my developmental cycle finally caught up, albeit four years later. This has allowed me to perceive things differently and apply information in ways that others can’t. Emmet Fox suggests, "It is the Law that any difficulties that can come to you at any time, no matter what they are, must be exactly what you need most at the moment, to enable you to take the next step forward by overcoming them. The only real misfortune, the only real tragedy, comes when we suffer without learning the lesson."

In the upcoming weeks, I will share with you six reasons why my business failed within a record six months and the lessons I learned. Stay tuned!

Techinva - Empowering Women in Kenya Dignify Her - Caryle Enterprises Urban Organic Farming - Caryle Enterprises #techinvakenya #caryleenterprises #womeneconomicempowerment #dignifyher #chartinghercareer #ignitingherbusiness #StrengtheningHerCSO #raconteurs #FailFaire #thethingsnancywrite #becauseshecanwrite

THE RACONTEUR: WEEKLY SERIES ~ THE INTERLUDE 2

As My Entrepreneurship Journey Series One comes to a close, we'll be taking a break from the Raconteur to share some quotes I've encountered in the many books I've read. 

Next week, we'll launch a new series titled "Mistakes That We Make," which will feature my own experiences, actions, inactions, omissions, and commissions, as well as insights gained from the people I've interacted with during my 7-year entrepreneurship journey. The upcoming topics will revolve around career, business, and community, which are the three developmental areas where my company, Techinva Kenya Limited, provides solutions. 

Enjoy these quotes, contemplate them, and let them enrich your thoughts and perspectives.

What lies behind us, and what lies before us are small matters compared to what lies within us ~ Ralph Waldo Emerson

All life is a chance. So take it! The person who goes furthest is the one who is willing to do and dare ~ Dale Carnegie

When you know what you want, and want it bad enough, you will find a way to get it ~ Jim Rohn

Many of life’s failures are people who did not realize how close they were to success when they gave up ~ Thomas Edison

Success is doing ordinary things extraordinarily well ~ Jim Rohn

It’s time to start living the life you’ve imagined ~ Henry James

Success doesn’t come to you, you go to it ~ Marva Collins

You have to believe in yourself when no one else does. That’s what makes you a winner ~ Venus Williams

We make a living by what we get. We make a life by what we give ~ Winston Churchill

If you go to work on your goals, your goals will go to work on you. If you go to work on your plan, you plan will go to work on you. Whatever good things we build end up building us ~ Jim Rohn

Take the first step on faith. You don’t have to see the whole staircase. Just take the first step ~ Martin Luther King, Jr.

To guarantee success, act as if it were impossible to fail ~ Dorothea Brande

Do not let what you cannot do interfere with what you can do ~ John Wooden

Adversity is another way to measure the greatness of individuals. I never had a crisis that didn’t make me stronger ~ Elbert Hubbard

Don’t wait until everything is just right. It will never be perfect. There will always be challenges, obstacles and less than perfect conditions. So what? Get started now. With each step you take, you will grow stronger, and more skilled, more and more self- confident and more and more successful ~ Mark Victor Hansen

You have to learn the rules of the game. And then you have to play better than everyone else ~ Albert Einstein

Success comes in cans; failure in can’ts ~ Anonymous

Success means doing the best we can with what we have. Success is the doing, not the getting; in the trying, not the triumph. Success is a personal standard, reaching for the highest that is in us, becoming all that we can be ~ Zig Ziglar

Most folks are about as happy as they make up their minds to be ~ Abraham Lincoln

THE RACONTEUR: HOW CBOs CAN LEVERAGE GOVERNMENT DEVOLVED FUNDS IN THEIR RESOURCE MOBILIZATION EFFORTS ~ MY ENTREPRENEURSHIP JOURNEY: SERIES 1 ~ EPISODE 10

Community Based Organizations (CBOs) in Kenya are grassroots, non-profit entities formed by community members to address various social, economic, and developmental challenges at the local level. These organizations play a pivotal role in mobilizing resources, fostering community cohesion, and implementing projects that cater to the specific needs of their communities.

However, CBOs often encounter several challenges in their resource mobilization efforts such as: limited access to funding sources; inadequate financial management and reporting skills; skepticism from potential donors about their capacity to implement projects efficiently; bureaucratic red tape and complex application processes for grants and funds; and fluctuating economic conditions and external shocks, such as the COVID-19 pandemic.

At Techinva Kenya Limited, we support CBOs in their development and sustainability by offering tailored capacity-building programs on governance, project management, fundraising, and community engagement to enhance their operational efficiency. We facilitate training sessions and workshops for CBO members that bolster their development efforts and long-term sustainability.

Our training in financial inclusion and resource mobilization includes apprising the CBO members on various Kenyan government devolved funds, such as:

√ Biashara Fund: https://www.biasharafund.go.ke/.

√ Financial Sector Deepening Kenya (FSD Kenya): https://www.fsdkenya.org/

√ Hustler Fund: https://www.hustlerfund.go.ke.

√ Kenya Climate Innovation Center (KCIC): https://www.kenyacic.org/

√ Kenya Institute of Business Training (KIBT): https://kibt.co.ke/.

√ MicroEnsure: https://microensure.com/.

√ PesaBazaar: https://www.pesabazaar.com/

√ Uwezo Fund: https://www.uwezo.go.ke/.

√ Women Enterprise Fund (WEF): https://www.wef.co.ke/.

√ Youth Enterprise Development Fund (YEDF): https://www.youthfund.go.ke/.

The impact of successful resource mobilization efforts goes beyond just financial gains. It can lead to positive changes in communities, economies, and the overall well-being of individuals and societies.