20 years ago, Mary Njeri began a printing and a publishing business armed with only a laptop and a printer. The business grew within a short time, mostly driven by word of mouth from happy customers and her services were much sought after.
Technological innovations saw her adapting and readapting to stay relevant until a flood of similar businesses ate her market segment forcing her to rethink a business plan. She opened a hotel business in heart of Nakuru town after borrowing heavily from banks and is currently running two businesses.
The beginning
So where does her business story start? It began in the year 1999, when a relative, who resides in the United States, sent her a laptop, a printer, and $1000 (about Sh100, 000). She rented a premises, refurbished the space, and began her computer services business. Back then, there were few businesses offering printing and publishing services and her business was off to a good start. Two years later, she bought two photocopier machines and two desktop computers and hired more hands to handle the rising demand.
“Technology moves so fast. I had to buy a Gestetner offset printing machine, which became obsolete after a few years. I had to buy more modern and expensive machines,” Mary says.
With a full printing press in place, Mary’s business raked in the profits. “I would print receipt books, invoices, cash sales, and other stationery. I also printed programmes like weddings and funerals as well as other publications and books,” she says.
As technology advanced, however, the business shifted and more players flooded the market.
“Today, cyber cafes are offering similar services without investing in the bulk of the equipment,” Mary notes.
Then when Covid-19 hit early last year, the printing business went from bad to worse.
“50 percent of my customers were schools and churches. The business was hard hit,” Mary says.
Diversified to cope with hard times
Mary is thankful that two years before Covid struck, she had decided not to put all her eggs in one basket. “I wanted to widen my income bracket, and when I noticed the printing business was going down, I opened a restaurant,” she says.
To start the restaurant, Sweet Serve in Nakuru’s town she sunk in the capital of Sh850, 000.
“I sourced the capital from banks and my savings,” she says.
The pandemic had not spared either of her businesses.
“I have been forced to reduce the staff by almost half. Also, it is hard to make some business decisions as no one can predict what will happen next, at this pandemic times,” Mary says.
Are there lessons she had learned on her business journey?
“It is vital to change with the changing technology if one is to remain relevant in the market,” she says of the printing and publishing business.
Mary adds that to keep up with the changing business landscape one will need to be constantly appraised on new market trends, for knowledge is power.
Her advice to women is that they should not fear investing but be risk-takers for their investment gamble will pay off. Also, honesty and trust are key ingredients in building customer’s confidence.
“I’m already in the market buying foodstuffs for the hotel as early as 6 am and organising how things are to run. Then by 7.30 am I am in the printing press. The last business closes at 7 pm,” she tells of her daily schedule.
What advice on financial management can she give?
“Know when to invest and do not fear to take risks. Never fear to take loans, but don’t divert money intended for business to personal use. Plan well and get organised. Ask yourself where you want to be in six months, or two years. Set short-term and long-term goals. This will help in managing your finances.”
At the end of every set term, Mary says, one should evaluate their achievements, setbacks and map up the way forward.
“Monitor the financial position daily. This helps you to know how the business is, and be able to evaluate whether you are making a loss or profit. Avoid debts, and in case of any, they should be payable within the month. Debts will affect the performance of your business if not paid on time. With good financial management, your business, no matter how small, can experience growth and expansion,” she surmises. BY DAILY NATION
