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HomeWealthDamaris Wachera: Entrepreneur Starts Construction Company With Ksh150K, Takes 4 Years To...

Damaris Wachera: Entrepreneur Starts Construction Company With Ksh150K, Takes 4 Years To Break Even

Damaris Wachera Sande is the proprietor and managing director of Extreme Interior Design.

The architectural and construction company offers residential and commercial interior and exterior designs among other services.

Wachera established her company with an initial capital of Ksh 150,000, and it took her four years for the business to break.

Here is her story as narrated by WoK.

Background

Wachera established her company in 2013, drawing her inspiration from a friend who offered to mentor her.

Having invested Ksh 150,000 into her new venture, she noted that it took four years for the business to pick.

“Although I had someone to hold my hand when I started, I was very new in the market. I quickly realised that markets are not always welcoming to newbies

“As such, marketing, getting clients and referrals were my biggest challenges in the early days of the business. In fact, it took two years to really establish a client base,” she said.

In an interview with the Daily Nation, Wachera also spoke on challenges that she faced while establishing her business which include credit and cash flow management.

“I also had challenges with internal control systems, delegation, marketing strategies, and hiring the right people at the right costs,” she said.

However, the challenges have come with its lessons.

“Don’t be the boss of your business. Be an employee who is equally accountable to the business as any other worker

“I have also learned that when running a business, you must strictly adhere to personal and business budgets without mixing the two,” Wachera said.

She also mentioned that it is important to get an emergency fund and refrain from getting loans from unregulated mobile banking applications.

“They can be a blessing but also a curse depending on how you utilise them. Avoid credit cards if you don’t really need them,” she advised.

Wachera said she majorly marketed her business through the word of mouth and running campaigns on social media.

She noted that one of her milestones while starting up was getting a client from Facebook after a rigorous marketing campaign.

“We signed a contract with them and delivered the project within two months. We delivered beyond what the client had signed for and this opened multiple business doors for us

“Social media is especially a critical business driver in the modern world as it opens your business to thousands of potential customers,” the entrepreneur stated.

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