Going it alone now a trend but at what cost?

“I had to come to terms with reality. I had not thought through the skills necessary to run the company successfully,” he said.

Managerial literacy is another pitfall for entrepreneurs. Many of them do not know how to define their markets, how to position their products or how to manage a growing workforce.

While Ms Mbaya became a business expert through her experience at the Apprentice and by reading every book she could get her hands on, Mr Gathitu was lucky to qualify for a business incubation programme with technology organisation M-Lab.

The decision to abandon formal employment is by no means easy. There are fears of losing everything in risky ventures and some people simply fail to grasp the courage to quit.

For Mr Gathitu, the decision to leave employment was made even harder by his achievements during his tenure at the institution.

He had helped develop the bank’s flagship mobile money service and was unwilling to leave without seeing the innovation become successful.

Family can become a very important factor in the decision-making process. While most families will look askance at someone leaving a successful career for a doubtful venture, once brought around, they can still be a great source of support.

One of Mr Gathitu’s business partners was his fiancé, who would later become his wife.

“It was easier having someone I trusted on board,” he says.

Start-up ventures don’t always hit the million-shilling jackpot on their first year of operation. In fact, they are wont to fail dismally. Despite this, remaining firmly committed can yield desirable results.

Mr Wameyo started his financial firm with eight clients. Three years down, he counts 29 corporate clients, including 10 blue chip companies as part of his portfolio
“We have had explosive growth. But we had to be very patient,” he says.

Although Ms Mbaya’s company is still finding its footing, she remains confident that she will be able to grow it into a formidable enterprise, not just in Kenya, but across East Africa.