George Okoth’s professional journey began at Kenya Airways, where he spent 12 years honing his skills and expertise in the aviation sector.
Little did he know that his experiences in risk management and safety protocols would become the foundation for his future venture.
Armed with insights into the importance of safeguarding against potential risks, George saw a gap in the insurance sector and decided to seize the opportunity.
In 2016, armed with a modest start-up capital of Ksh. 500,000, George founded Fix IT Insurance Agency in Kenya.
His vision was to bridge the gap between clients and insurance companies by ensuring that clients’ needs were met with reliable and stable insurance coverage.
The agency’s role as an intermediary aimed to rebuild the trust that had been eroded due to past negative experiences.
Fix IT Insurance Agency not only promised clients the coverage they needed but also delivered on that promise.
To achieve this, George focused on aggressive marketing strategies and forming strategic partnerships that would yield quick results.
”We came into a market where some dishonesty had led to low trust from clients. We had to confront the negative perception about insurance that what is promised when clients sign up is never what is delivered when coverage is required,” Okoth Said.
Within just six months, his relentless efforts paid off, and the agency reached the coveted break-even point.
However, George’s journey wasn’t without its share of challenges.
His foray into the restaurant business, motivated by a significant payout, proved to be a costly lesson in the importance of industry knowledge
I leased a one acre piece of land and opened up a fish only restaurant in Kitengela, not knowing how to differentiate between fish from the lake and one from the pond as many loved the lakeside fish.We were building at the same time and hoped the proceeds from the business would help in sustaining the building project.’ Okoth recalled.
Despite his optimism, the venture ended in losses.
One of George’s defining moments came when he established a partnership with a local Financial Institution to provide insurance services.
This partnership, initiated through an acquaintance’s referral, highlighted the power of networking, connections, and positive reviews in expanding business opportunities.
This achievement reinforced the importance of surrounding oneself with a supportive network.
Reflecting on his experiences, George emphasized the critical role of patience in building a successful business.
He recognized that true wealth is accumulated through honest hard work over time, and consistency is key to achieving long-term goals.
Additionally, he highlighted the significance of social capital, a lesson he learned from mentors.
Managing relationships, referrals, and reviews can significantly impact business growth and stability.
In matters of finance, George’s approach evolved from his earlier experiences.
He shifted his investment focus to the Money Market Fund, a method that offers both savings and low-risk investment opportunities.
This strategic decision aligned with his desire for a secure and steady growth of his financial resources.
