This archive report was first published on 13 January 2022.
January 13, 2022, marked a significant milestone for Eustace Nderitu, the founder and managing director of Solani Tours Limited, a tours and travel firm based in Nairobi. It was the day he decided to leave his employment and start his own business.
With a laptop and a phone, Nderitu began creating tour packages and sharing them with friends and associates. The journey was slow and sometimes painful, especially during months when the business made zero revenue. However, the fruits of his labor have been worth it.
One of the biggest mistakes Nderitu made was taking an asset financed by a bank at very punitive charges and terms. The asset was unnecessary, and its repayment drained so much revenue that the business almost crashed. He has since learned to work with what he has and avoid unnecessary debts.
Another significant loss occurred when Nderitu's company advertised a Christmas trip to Dubai, which was scheduled to commence on December 23. Despite initiating the process of acquiring visas by the end of October, the partners in Dubai did not apply in time, resulting in visa delays. The losses were in millions of money, but Nderitu later organized a free trip to Dubai as a way of saying sorry to his customers.
Nderitu saves by reinvesting his earnings in the business and investing in different companies. He also has a Sacco where he saves a share of his income and earns dividends in return. If he could start all over again, he would start small and grow his business gradually but steadily, ensuring proper management and general business structures from the word go.
For Nderitu, entrepreneurship offers the freedom to determine one's own income based on output and innovation. He advocates for entrepreneurship, citing the freedom and opportunities it provides. He has grown to a level where he partners with corporate leaders and has acquired properties and assets that he wouldn't have had if he remained in employment.
As Nderitu reflects on his journey, he emphasizes the importance of being humble, generous, and helping others. He believes that no one got to where they are because they were more special than others, and that we are all essentially equal as human beings.
