This archive report was first published on 12 July 2021.
Muthoni Njakwe, the founder and CEO of StedComm Limited, a digital marketing and advertising agency, has a unique approach to building a brand. Her story is one of resilience and determination, as she shares in an interview published on Saturday Magazine on July 12, 2021.
According to Njakwe, she is building a brand that she never got a chance to work for, one that balances profitability and social consciousness. This vision is deeply rooted in her personal experiences, having grown up in a humble background and experiencing poverty firsthand. Her goal is to empower small businesses and eradicate extreme poverty, which she believes is achievable through her company's services.
As the firstborn in her family, Njakwe had to grow up quickly, facing numerous challenges that shaped her into the woman she is today. She recalls spending the first five months of her business making thirty cold calls a day, sending endless business proposals, and knocking on many doors. This experience taught her to think on her feet, develop a thick skin, and thrive on competition.
One of the most valuable lessons Njakwe learned is the importance of loving what you do. She emphasizes that motivation must be compelling to overcome obstacles, and that success is a process that requires constant attention and nurturing. Her advice to entrepreneurs is to seek constant learning, stay hungry, and avoid unnecessary spending, as it can be the difference between failure and survival for their business.
Njakwe also shares her experience of taking a Sacco loan to start a business, which she now regrets. She advises entrepreneurs to carefully consider how long their business can survive without making profits, and to reconsider their plan if the answer is less than two years.
Despite the challenges posed by the pandemic, Njakwe believes that companies should not cut their marketing budgets. Instead, they should double down on marketing and advertising, as those that maintain their investment in branding and marketing through tough economic periods always come out ahead.
