Danson Muchemi , CEO Jambo Pay is a force to reckon with in the tech space in Africa. Mr. Muchemi has over 5 years’ hands on experience in Mobile Money Transfer systems, Electronic fare collection systems, mobile payments, e-commerce and government payments. He has overseen implementation of electronic payments systems in Kenya and Tanzania. I had the opportunity to listen to him talk about his entrepreneurial journey during the Lapid Leaders Africa open day.
Here are 5 nuggets of wisdom I picked from him;
Start where you are: Danson started in business in a cyber cafe in View Park Towers where he stayed for six months. Even when business was tough he still showed up for the six months. Most of the times we complain about not having enough resources in order to start. What do you have that you can use to start your entrepreneurial journey? Use what you have and most importantly start now!
Measure your progress: While it is very important to start where you are, it is also very crucial that you measure your progress. If you are running a for-profit organization it is important that you keep track of your earnings and expenditure using simple tools like excel. It is also paramount that you measure the impact your enterprise is having on your clients and ask for feedback in order to be able improve.
Select your mentors wisely: When choosing a mentor it is very important that you choose somebody who already has what you want. For example if you would like to become a renown motivational speaker the best person to mentor you would be a renown motivational speaker. Once you have a mentor set the rules of engagement for example how often you are going to meet. Your mentor should be somebody who understands the industry you operate in and its regulations. That takes me to the next point.
Understand your industry: As an entrepreneur you must understand the industry you operate in and its regulations. Make sure you are aware of government regulations and policies in your industry. Furthermore make sure you comply with those regulations. To say the least be on the right side of the law. These regulations may include tax compliance, procurement laws etc
Run towards your fears: If something makes you feel scared, run towards it. If you do those things that you are afraid of, the results will surprise you. In the words of Soledad O’Brien ‘I’ve learned that fear limits you and your vision. It serves as blinders to what may be just a few steps down the road for you. The journey is valuable, but believing in your talents, your abilities, and your self-worth can empower you to walk down an even brighter path. Transforming fear into freedom — how great is that? ‘There are times when the only person who will believe in your dreams and aspirations will be you, As Danson Muchemi put it ’Be bold and run towards your fears.’
We are very grateful to Mr. Muchemi for making the time to share his entrepreneurial journey with the young people who attended our open day.In case you missed our open day you can still register to join cohort 5 and get a chance to learn from more mentors. We are organizing several mini open days, look out for one in a campus or church near you.