Entrepreneurship In Kenya: Strategies to Exit your Job into a Thriving Business.

  | 9 min read
62
Comments
640

While most of us seek employment and to scale up the corporate ladder, there are those who seek to become entrepreneurs and ultimately become employers themselves. The transition from employment to entrepreneurship is not an easy one. The switch from security that comes with a salary every month to the roller coaster of a business’s unpredictable nature; from the safety net of a job description to suddenly being in charge of all spheres of a business; not to mention that one changes from being employed to becoming responsible for employees. All these changes can be quite overwhelming, especially if someone is not well prepared to handle the issues that come with self-employment.

Below are some strategies to consider as you make plan your next steps;

  1. Learn everything about the business you are currently in.

Why? The principles will help you even in a different business. You will learn mindset and what to keep your eye out for when you transition. At the very least you can understand the landscape and what not to do if the business is in your hands. It will also make you a better employee, as you will no longer be compartmentalized in your work and thinking but will be looking towards a bigger picture. ‘What is best for the businesses will become your song. By the time you do this effectively, your employer will get more value out of you and if he notices, and you will have gained invaluable practical skills in different leadership aspects. For advice on how to handle the transition, Sign up here for ‘before you quit your job and view a free online webinar.

  1. Save your money

Plan your finances so that you can have a buffer as you transition into your new context. How much do you need to live on each month when you spend on essentials e.g rent, transport etc.? So if you needed a 6 month buffer for example, how much would you need? Consequently, how many months do you need to save for? What expense can you put aside for your greater good? Make decisions about your finances and plan accordingly e.g whether to continue paying medical insurance even after you leave your job etc

  1. Strategic Crowdsourcing.

Tell family and friends you are transitioning. Use wisdom, as some family will out of concern scare, persuade or guilt you out of your decision. It may prove an opportunity to reassure them and even mention some strategic moves you are making to ensure your success. And that, no you are not mad to leave a perfectly safe job with insurance, pension and benefits. Stay calm in the conversation. Give them time to see the mature individual you are, as they may still see you as ‘little cousin who needs advice and protection’ or ‘another family member I’ll have to send money to each month’. Let the conversation steer away from the emotional reasons ‘I feel stifled’ to the logical ones ‘I am practically the entire business, so I’d rather benefit from it’ or’ I have innovated a new tool or a new way of production’ etc. Maneuver them out of advising you to stay at your job and get them into the space of ‘Here’s what you can do to help, send referrals my way, I’m sending you my profile/work samples.’ Sound and be confident and organized, so they are assured you will not ruin their reputation should they send you work. Set up a commission structure or reward system if necessary. Get your feet wet doing a few gigs as you learn best practices and set up systems and processes to ease your work, and for the time you hire a team. Meanwhile when you have a lot of work outsource strategically before you are ready to hire a full time team.

  1. Outline your business structure. Do this, even if it is just a diagram on a serviette that you restructure as you figure stuff out. Outline the key roles in the business, and their job descriptions. The book, the e-myth revisited, helped me structure and organize my business, defining roles and simple job descriptions for each. These are later re-assigned from the business owner to new hires when the business grows. Have an outline or an idea about targets for each month or each quarter for the 1st year, with room for flexibility or to pivot based on what you learn that’s important for your business. If you need to hire, decide whether to start with interns as they are cheaper, or hire a professional directly, on a freelance basis. An intern means more time spent training, do you have the time? A professional means investing more money but you should have better quality results, question is, where will you source the money? Or you could hire graduating students and grow them as the business grows. Either way, figure out which resource you need to prioritize and assign them accordingly.
  1. Develop your work plan

This is developed alongside the business structure. Plan out what percentage of your time will spend on Business Development and Marketing and what this actually entails. What percentage will be in doing the actual work you are being paid for or in delivering the promise.

If you need assistance developing your Marketing strategy, send me your burning question and I’ll be happy to help out where I can.

  1. Schedule your day’s activities

This way you know what you will be doing with your days and working hours to avoid wasting time. This also means you will not be shocked by the transition and find yourself with a lot of time and uncertainty about what to do with it, meanwhile your revenues suffer. Your work plan will also guide you into when it is time to hire, as you will notice a trend when there is more work than the hours you have in a day to do it, or observe the trend of delayed delivery times.

What time do you rest and have meals, etc. Ensure you schedule time to exercise, relax, meditate and socialize with family and friends. This is essential because if you fall ill or get imbalanced your entire business will suffer. In the early stages your business really needs you as a key player in every aspect. Also plan for time for other important priorities such as networking which is an avenue to meet potential clients and gain exposure to further your business. Sign up here for a free networking checklist, to help you network like a pro even if you are an introvert.

  1. Justify the move.

To justify your departure either your business revenues should be equal to your current salary, or what you need to live each month, or you have more clients that you can serve in the weekend and evenings as you  have been doing, so you need to dedicate more time to your business. Otherwise it is usually smarter to keep your job for cash flow and even hire someone to help you run it until the business picks up. Organize well and be clear on your targets so that you don’t have to go back into employment; which can be awkward.

  1. Explore if you can become a supplier to your current job.

This means they become your client number 1 as you service them in addition to other clients as well. This move would take some finesse and good planning. In some cases there’s not enough goodwill to achieve this, but try your best. E.g if you are the office graphic designer, can they remain one of your clients as you service a larger staple of clientele? Work it out carefully and you might just win the contract and get the best of both worlds. This could mean you get paid for doing what you used to do, plus more for serving other new people as well. Whoop!whoop!

  1. Brand yourself well.

Prepare and test your marketing material beforehand. Look and sound professional, prepare your logo, one page website and business cards. Get your portfolio professionally designed. People need to trust you to work with you, help them to believe you are serious and you are here to stay. This is how to build trust as your reputation continues to grow. Speak at events, attend industry activities, introduce yourself properly, none of “I’m just a startup ‘. At least be a ‘Startup in an exciting new venture that designs leading edge 3d graphics never seen in this market before’ Get your elevator pitch ready. Speaker training is available on www.linaconnect.com or contact me on dreamlauncher@linaconnect.com for tailor made coaching services to help you get you pitch ready, super fast. Tell the truth about yourself and your business, but package it well. E.g an all women business is ‘A group of 5 powerful gals running an a fully-fledged women-led business”

  1. Be a top notch supplier or client

Be a good client to your supplier while you are employed. Keep your promises, tell them the truth. None of the ‘Your cheque will be ready tomorrow’ when you know full well that it won’t. This was helpful for a graphic designer who transitioned into publishing cook books. She used the same supplier she used to use for her employer, and he gave her credit facilities because she always kept her word and was trustworthy. That meant she could pay him right after she got paid by her clients. How cool is that!?

If you are good to your clients and give them the best service you can, they might choose to move with you and become among your first clients, or follow you when your-soon-to-be former employer, the service provider, can’t match the level of top notch service you have consistently provided for a while.

Good luck!

 

Lina Dyhr
Lina Dyhr is a Media, Marketing Communications and Business Strategy professional with over 10 years experience. She loves travel and adventure despite being challenged in reading maps, is passionate about entrepreneurship and is usually at the right place at the right time for opportunity. Her recent engagements include Fairtrade Africa Communications Manager for 33 countries in Africa and 3 in the Middle East and Marketing Director for Easy Taxi, a taxi hailing app in 420 cities. Lina will be running a free webinar “Before you quit your job” so feel free to register to attend here, and email in your questions in advance so she can research good quality answers for you.
 

62 COMMENTS

  1. Am planing to leave employment by the end of the year .this just came at the right time for me.Big up brighter monday…will keep in touch when ready with my business plan.

  2. These are valued idea’s.
    I am so glad that I have it now.
    I have always wanted to get into self employment but my worry keeps me back from my dream. I have always feared the risks associated but I believe now that it’s not a one man’s journey

    • Sure Elisha, we need all the help we can get.
      Now we do believe that you are well equipped and you can pursue your dreams without anything holding you back.
      We appreciate your writing to us and keep in touch with us incase you need more advice from us.

      ^TM

  3. Currently am juggling between running my biz and maintaining my employment. Have a feel my employees aint giving my biz their all…tempted to quit by end yr, i build my empire the way i envision it. thnx for ths article..very helpful.

    • Your welcome Brian.
      We wish you success and feel free to write to us if you need more advice on the same.

      ^TM

  4. It’s too exciting to read the data in here. Perhaps self employment should always be the best!. Am aslo planning early retirement after my masters in 2 years from now

    • Hi Keneth,
      Thanks a lot for your feedback.
      We are glad the information you got from here will assist you in the near future.
      Keep reading our articles to be more enlightened.

      ^TM

  5. Brighter Monday you never dissappoint with your good advices full of wisdom. Good work, keep it up!

    • Thanks Elias
      We are glad we have never been a disappointment to you and for sure we will continue to give you more advice just keep it here.

      ^TM

  6. This is perfect for today’s world as technology changes more and more educated people tend not to be employed instead venture into self employment.

    Kudos and keep it up.

    Linus

    • Hi Otieno,
      Thanks a lot for sharing your sentiments,we highly appreciate your engagement.
      Continue to share your views and opinions to us.

      ^TM

  7. I have an already moving business how can I market it and balance it with my job. My net salary is only 3000 but my business can give me around 25000 can I quit. Advice
    Thanks

    • Lina’s Response:
      Sometimes the value of a job isn’t just in the salary.You can learn business skills in various sectors including that Marketing that you are currently researching on, that will help you in this and other future businesses.Learn everything you can so you can reduce your mistakes in your future business. Have you learned all you can in that job?The payslip from the job can also help you get bank/Sacco loans to finance your business. Do some research on this,approach them and see what your options are so that if/when the time comes you will have options. A job can also support you with cash flow as the business picks up and gains momentum,as a business may not always bring in cash in the first month.
      Explore ways to market your business which you can do off duty eg weekends or after 5pm work hours.Do some deep reflection and some math,eg if ksh25,000 is what you need the business to earn each month for you to live comfortably then stay at your job and build that business until you start earning that minimum before you quit your job.

      It might be worth finding a higher paying job to transition into and giving yourself more time for the business to grow.Create a timeline or timetable that realistically shows what you are focusing on each quarter or each month and your revenue targets in each period until the time you are secure to quit your job. This way you will not quit and then find yourself needing another job,meanwhile the business you are building suffers,and then you roll back into square

      Good luck!

      ^DM

    • Thanks Dennis,
      We really appreciate your feedback.
      Keep it here for more timely information.

      ^TM

  8. A very interesting read from preparation, planning, execution, growth sustainability

    Thank you for taking time to pen own

    • Thanks Munga,
      Now the last stage remaining is for you to now implement what you have learned.
      Feel free to write to us your thoughts, or any point you would want us to clarify.

      ^TM

  9. a good piece of knowledge..
    I have a business plan and would wish to shift fully into the business but the fear comes in…..

    • Hi Henry
      Thank you for reading.
      You need to look for people who have specialty in business, build your own network to expose yourself and for sure you will find someone who will take interest in your plan and you never know he/she may even opt to partner with you in the near future. Don’t sit back and wait for an opportunity to come to you, look for it and it will come. All the best Henry.

      ^TM

  10. I want to quit but still confused on what business to venture in to. Kindly advice me on what i can do with 100k capital and earn 20k monthly.

  11. I’m thankful for the encouragement I thin it has helped to understand more that will help my company grow well

    • Hi James,
      Thanks for reading.
      We are glad you are encouraged and the information you have read here will help you at your company.

      ^TM

  12. I just read part of this and I am constantly educated. I believe this will bring some light as I finish reading it whole.

    • Thanks Eugene,
      Read it time and again and make sure you implement what you have gained.

      ^TM

  13. Keenly following, and with interest. I have a registered business in the Supply of Office Equipment and Stationery though I’m a security professional who volunteered to retire last year, at age 50. All paper work is ready, only getting tenders remains. How do I go about this? Kindly advise.

  14. I’ve already thought I need to venture into doing something after retirement. I’ve thought doing a cafe/kiosk/food service would hold. What do I need to do ?

    • Hi Wamria,
      Thank you for writing to us.
      You can borrow or get loan and then get advice from someone you know who has experience in that area of specialty. You can get more tips by reading http://bit.ly/2qXczha thoroughly. All the best.

      ^TM

  15. This is Very informative.
    I started my own business even before i quit employment..I had studied all there is including some important facts stated above here and Am thankful someone is echoing the same thing.. It’s true we cant all be employed..We need employers too.

  16. is it that some people are better in businesses than others? have desired to be one but have never settled on what to do.Kindly advise

    • Hi Jane,
      Please do not have that mentality, you can do anything if you set your mind to it. The article we have written here will guide you on where to begin.

      ^TM

    • Hi William,
      Thank you for showing interest.
      You can share your ideas via our whatsapp number 0780029000 anytime.

      ^TM

  17. This are great ideas, I left my job and started my own business some months ago and truly one needs to apply this strategies. just to add one more strategy,get someone in your line of business to mentor you as you start.

    • Hi Sheila,
      Thank you for sharing this testimony.
      We know you have encouraged many and that they will be enticed to implement these strategies we have shared.

      ^TM

Comments are closed.