This archive report was first published on 14 July 2021.
Patricia Jepkorir Lagat, the founder and managing director of Horti Grid Limited, has made a name for herself in the horticultural industry through her innovative approach to agribusiness and agronomic solutions.
Her journey as an agri-entrepreneur began when she managed her parents' farm, where she searched for and showcased the best practices in horticultural farming. As demand for her services skyrocketed, she registered her business and enlisted partners to help her venture out. Today, her role involves business development, financial management, supervision, and execution.
According to Lagat, her success can be attributed to her ability to clearly define her goals and invest time, energy, and resources to achieve them. She believes that every challenge is an opportunity for growth, learning, and creativity. 'If you don't capture your vision clearly, chances are that you will drop it along the way, especially if the going gets tough,' she advises.
One of the most valuable lessons Lagat has learned is the importance of financial management. She recalls a time when she spent money she didn't have on things she couldn't afford, only to be left in debt and lose the trust of a lender. 'Never spend before you cash in the cheque you are expecting,' she warns. 'In addition, avoid spending on things you cannot afford.'
Lagat's experiences have also taught her the value of taking calculated risks and being cautious when delegating tasks to others. She recalls a project that went awry due to her failure to oversee it properly, resulting in a substantial financial loss and damage to her reputation. However, she has since learned to assess her team members more carefully and be clear on targets and expectations.
When it comes to saving money, Lagat has moved away from fixed bank accounts and now prefers Sacco and chama table banking, which allows her to access cash and loans whenever needed. She believes that entrepreneurship is the superior way to create lasting wealth and advocates for a gradual shift from employment to business, driven by learning, experience, and capacity.
As an entrepreneur in the world of agribusiness, Lagat emphasizes the importance of taking her time to evaluate every expense and working within a budget. She tracks her spending to plan, control, and utilize her finances effectively. 'Money talks; it says goodbye,' she quotes her father, emphasizing the need to set aside an amount for investment and secure the future.
This feature on Patricia Jepkorir Lagat was first published in the Saturday Magazine, a publication of the Nation Media Group, on July 14, 2021.
