This archive report was first published on 9 August 2019.
Published on August 9, 2019, by Daisy Okoti, Nation.
Frida Owinga, a seasoned entrepreneur with 25 years of experience, has developed a simple five-step profit formula to help entrepreneurs turn their passions into profitable brands.
Passion Profit, an organization founded by Owinga, helps individuals package their ideas and turn them into profitable enterprises.
According to Owinga, young entrepreneurs should have a clear goal in mind and know why they are starting a business. They should also be prepared to adapt and be resilient in the face of failure.
Owinga emphasizes the importance of financial literacy, discipline, patience, and resilience in achieving success in business. She also stresses the need for entrepreneurs to be agile and adapt quickly to changes in the industry.
When asked about her fears when starting out, Owinga revealed that she had many fears, but starting a business was never one of them. She attributes her success to her ability to identify opportunities and provide solutions to real problems.
Owinga recommends that business courses at tertiary institutions should be relevant and geared towards solving real problems. She also suggests that entrepreneurs should be encouraged to take calculated risks and be willing to learn from their failures.
For young entrepreneurs looking for mentorship, Owinga offers free 20-minute chats on her website or through email. She also hosts a weekly Founders Conversation at Park Place Business Center on Limuru Road.
