In
East African business circles, few entrepreneurs shine brighter than Njeri
Rionge. One of Kenya’s most successful and revered serial entrepreneurs, Rionge
has co-founded multi-million dollar companies in quick succession. She
co-founded Wananchi Online, a leading Internet service provider which has gone
on to become East Africa’s leading cable, broadband and IP (Internet-based) Phone
Company. Wananchi has become immensely successful, so much that it has raised
close to $60 million in growth capital from a consortium private equity firms.
She also founded Ignite Consulting, a thriving business consultancy; Business
Lounge, Kenya’s leading start-up incubator; Ignite Lifestyle, a health care
consultancy; and Insite, one of Kenya’s most successful digital marketing
outfits. She now divides her time between homes in Nairobi and Toronto where
she runs her diverse business concerns. She recently recounted to me her earliest
days in business and reiterated her relentless pursuit of the African dream.
Let’s
take a little trip down memory lane. When did you start your first business
venture, and what was it?
As
a twenty year old, my first business involved selling yogurt to the International School of Kenya
and Loretto Convent
Musongari High School over their 10am and 4pm school breaks. I sold
the yogurt from the car trunk which belonged to a friend of mine with whom I
had partnered. We picked up the yogurt from a farm in Limuru (a town in Kenya)
at 6 am and returned back every second day for more stock. Throughout this
period I was employed as a hairdresser with a clientele consisting largely of
high net worth individuals. Recognizing yet another opportunity, I traveled to
London on a regular basis using discounted courier tickets to purchase re-sale
luxury merchandise which were not available in Kenya at the time. I sold this
merchandise to my clients.
You
seem restless. Why do you keep creating companies serially rather than just
sticking to one, and milking it for all it’s worth?
I
create companies serially because I believe that Africa is the next economic
frontier and we must build indigenous organizations that will support this
growth.
Of
all the companies you’ve built, which was the most challenging and the most
fun?
Wananchi was a roller coaster ride in which we sought to
challenge the assumption of regulators, the government officials and
competitors that the Internet was not only relevant for the elite. Ignite
has been the most challenging but Wananchi Online was the most fun of them all.
I am now focused on my Nairobi and Toronto business locations for the wholly
owned companies. Ignite
Consulting
has had a long development process which has taught me the true benefits of
project management, performance management and time management without which a
consultant can easily go-out of business. On the other hand, it is important to
manage timely exits and succession. I intend to hand over the businesses
to business drivers to take them to the next level through a management sale or
recruitment of a CEO.
What have been the biggest
impediments you’ve encountered in all your years of doing business?
The
greatest impediments I have encountered personally are managing the brand value
and promise of each brand while building a business. The Internet and social
media present great opportunities to quickly communicate developments, changes
in activities and interests. If these communication pieces are ignored or not
managed they tend to bring about confusion within organizations and with their
customers. The rules of engagement have shifted and yet much of our
organizational cultures remain rooted in outmoded styles of operation that have
little relevance in a globalised market place.
What was the biggest lesson
you’ve learned in business?
When
you’re in business you are responsible for the good, the bad and the ugly, pay
attention at all times and take responsibility for all that you and your
organization does throughout its tenure.
What is your philosophy in
business and in life?
I
judge myself based on my performance vis-à-vis today’s challenges and opportunities.
I am passionate about growth in others and myself. I am humbled and gain
enormous strength from the many young dynamic people I have had the privilege
of working with over the years. Success for me is defined by increased value –
not simply financial rewards. This is still to be tested in this phase
one and the follow up phases.
In a nutshell, what is the
most important piece of advice you’ll give to young, entrepreneurial inclined
individuals out there- particularly the ladies?
Ladies,
it’s like learning to ride a bike or driving a car. You need only to believe in
yourself, trust your gut feeling and develop a clear plan or strategy, keep it
simple and implement that plan step by step with courage, conviction and love
above all. Ultimately be open minded and flexible to change course when needed
and listen to your customers.
Learn
more about Njeri Rionge at www.njeri-rionge.com
Sources: http://www.nytimes.com
http://www.forbes.com
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