This archive report was first published on 3 July 2021.
July 3, 2021, marked a significant turning point for Samuel Ng'ang'a, the Managing Director of MasterFound Security Group Ltd. His business, which offers security installations and technologies, and guarding services, had managed to grow despite the challenges posed by the Covid-19 pandemic in 2020.
Ng'ang'a attributes the resilience of his business to adopting a robust business model, being passionate about his job, and maintaining honesty. He emphasizes the importance of hiring the right candidates, including those with a background in the military, police stations, prisons, and the directorate of criminal investigations.
However, Ng'ang'a has also learned from his mistakes. He recalls spending Sh7 million of office money on personal property, which turned out to be a significant liability. The experience taught him the importance of measuring assets against liability while spending and the need to separate office expenses from personal expenditures.
Ng'ang'a also shares his experience of allocating a large share of the marketing budget, which did not yield any results. He believes that channeling that money into staff training would have been more fruitful, as well-trained personnel are the best marketing tools.
Reflecting on his entrepreneurial journey, Ng'ang'a notes that he initially used a large share of his initial capital on operational costs, including leasing big office spaces and electronics that were not necessary. He advises entrepreneurs to start small and focus on growing the business.
Ng'ang'a also emphasizes the importance of continuous learning and exceeding the expectations of employees to meet customer expectations. He believes that kindness, humility, and integrity are more important than money and that the desire to make a difference in people's lives should always come first.
