Business

In Kenya’s dynamic business environment, the ability to embrace and adapt to opportunities is crucial for success. A successful entrepreneur must possess the foresight to identify market trends and seize opportunities as they arise. Business in Kenya, like elsewhere, operates in phases. Some ventures may yield a profit of one million Kenyan Shillings, while others can scale up to one hundred million. The key takeaway here is that if an entrepreneur focuses solely on small-scale profits, they will limit their potential for larger gains. For instance, many traditional business owners in Kenya are transitioning to platforms like TikTok, recognizing the shift towards e-commerce. Those who resist this change risk being left behind, as the market naturally eliminates those who fail to adapt. As noted, some lament that e-commerce has eroded their traditional business models. The response to this should be a call to action: if others can transition and thrive, why can’t you? The concept of craftsmanship, while valuable in some contexts, may not apply to the fast-paced world of business. Achieving perfection after decades of hard work is an exception rather than the norm. Most successful entrepreneurs in Kenya are not running the same businesses they were a decade ago; they have continuously evolved with the market. Lesson: To survive and thrive as a small business owner or entrepreneur in Kenya, it’s essential to anticipate market changes and transform your business accordingly. Stagnation leads to elimination, while adaptability and foresight pave the way for success. Embrace change, update your business models, and align with current trends to ensure long-term growth and sustainability. To partner with Dimewise Contact 0727 696913 www.dimewise.co.ke Info@dimewise.co.ke

Finding a flexible business idea as a woman that you can start with little to zero capital is tough. But thanks to the online world, we found some of the most lucrative small business ideas for you. And the good news is that you can start and run these businesses at home! So, what small business ideas can you explore? 1. Selling Branded T-shirts for Girls I’m sure you’ve come across numerous photoshoots of young girls. Most women are more aware of what they dress their girls in and will spend a lot of money to ensure their daughters look great. Some of the top-selling branded t-shirts have empowering words that excite mothers, guaranteeing you a sure market. You can start branding and selling branded t-shirts from the comfort of your home. 2. Fitness Coaching Women are more focused on staying in shape in this age than ever. If you are a mom who has developed a liking and passion for fitness, you have a wide target audience to cater to. Another great thing about this business idea is that you can start a YouTube channel and monetize it. You can also create communities around this coaching business on different platforms while charging for consultation. 3. Natural Hair Consultant I’m sure you’ve seen multiple women teaching their audience how to style or plait natural hair. With most ladies embracing their natural hair, you will be amazed by how many people are looking for help with their hair. So, if you are passionate and knowledgeable about natural hair, you can begin to offer these services and share information online to make money. Some key areas that captivate most clients include growth, maintenance, and styling. 4. Selling Skincare Products Have you had a skin problem and overcome it? Or have you discovered a solution to flawless skin? If yes, then you’re a step away from becoming wealthy with this product. Women are more aware of their looks and investing huge amounts of money to keep glowing. So, go out there and start your skincare products business! —– To partner with Dimewise Contact 0727 696913 www.dimewise.co.ke Info@dimewise.co.ke

Starting a business is a dream for millions, but the facts can be harsh. Did you know that 20.6% of business startups fail in the first year, and 45% fail within the first five years? The primary reason is cash flow problems and insufficient capital to sustain growth post-launch. However, there are several other reasons for failure beyond financial issues. Over-Romanticizing Your Business Although passion can help you start your business, it’s a mistake to take things too personally once it’s up and running. Successful businesses need to be guided by facts, metrics, financial processes, and rules. You can be passionate about your business, but don’t let personal emotions dictate how you run it. Not Understanding the Customer’s Problem Successful businesses satisfy a real need that people will pay to have filled. Your business will fail if your product or service doesn’t solve a specific problem. You must also communicate your solution clearly and motivatingly to your target customers. Failing to Analyze the Competition Developing a business plan, such as a business model canvas or market analysis, is crucial. Ensure there is a valid market need before selling anything. Analyze the competition to develop a differentiation strategy. Remember, “Different is better than better.” Thinking a Good Product is Enough A great product alone isn’t enough. Success requires visibility, authority, credibility, a strong marketing strategy, and excellent customer service. Establish a presence, prove you can deliver, and ensure a positive customer experience. Failing to Create a Brand Anyone can register a business, but a company is not a brand. Building a brand requires strategic processes. If you don’t create a brand, your customers will create it for you. Architects experience with specific intentions from the start. Resistance to Change Many companies fail because they resist change and innovation. The business landscape is constantly evolving with new technologies and market demands. Adapting to these changes is crucial for survival. Neglecting Internal Culture A strong company culture can make or break a business. Toxic cultures can quickly kill a business, while positive cultures can drive success. Train, delegate, and trust your employees. Encourage loyalty by fairly compensating and rewarding performance. Starting and maintaining a successful small business is rewarding. It gives you control over your destiny. By addressing these seven key areas, your small business has a higher chance of succeeding. Implement these strategies, and you’ll be on your way to success. If you need help with consulting or are facing challenges with your business, make sure to reach out to us at info@dimewise.co.ke.

How to Navigate the Digital Business Landscape? Learning New Skills Like you learn new subjects at school, businesses need to learn how to use new technologies. There are lots of online classes and tutorials that can help you start. For example, a small bakery might learn how to use a computer program to keep track of orders and supplies. At Dimewise, we empower our community through education and skill-building initiatives. Dimewise Empowerment Hub is currently offering fashion design courses and digital literacy courses. Using Social Media Social media platforms like Facebook, Instagram, and TikTok are great ways for businesses to connect with people. You can show pictures of your products, share news, and even chat with customers. It’s like having a big online playground where everyone can see what you’re up to. At Dimewise, we offer digital literacy skills. Our programs teach you how to effectively use social media to promote businesses, engage with customers, and build a strong online presence. By gaining these skills, small business owners or entrepreneurs can harness the power of social media to grow their businesses and reach a wider audience. Online Shopping  More and more people are shopping online. Businesses need to have websites where people can buy things easily. Imagine if your favorite toy store had a website where you could see all the toys and buy them with just a few clicks! At Dimewise, we offer web development courses that teach you how to create user-friendly websites, manage online stores, and ensure a smooth shopping experience for your customers. With these skills, you can attract more customers, increase sales, and take your business to the next level. Keeping Data Safe It’s important to keep information safe online. Businesses need to learn how to protect their customers’ data. This means using strong passwords and secure websites. It’s like having a strong lock on your door to keep your home safe. At Dimewise, we offer a cybersecurity program that teaches you the best practices for protecting sensitive information. You’ll learn how to identify potential threats, implement security measures, and respond to data breaches. By mastering these skills, you can ensure that your business remains secure and trustworthy. Digital inclusion is helping everyone navigate the digital business landscape in 2024. By learning new skills, using social media, creating online stores, and keeping data safe, businesses can grow and succeed.  Remember, whether you’re an entrepreneur learning to use a new app or a business trying to reach more customers, digital inclusion makes it possible for everyone to be part of the digital world. Let’s make 2024 a year where everyone can connect, grow, and succeed together! If you want to learn more about how to use technology to grow your business, join the Dimewise Entrepreneur Community today! We offer support, resources, and a network of like-minded entrepreneurs working towards success. Don’t miss out on the opportunity to be part of a community that believes in the power of digital inclusion. Join us now and take the first step towards transforming your business!

Imagine being surrounded by advertisements everywhere you go, telling you to save money. It can feel like a lot to handle, right? Even big banks like Kenya Commercial Bank and Equity Bank are always talking about saving. But why are they so successful? Well, if you look closely, you’ll see they all talk about something called “Return on Investment” or ROI. It’s like a secret ingredient for success. Whether you’re putting money in a bank account or joining a group that saves money together (like a SACCO), how you save your money matters a lot. Even if you want to borrow money to start your own business, you need to show you’ve been saving money regularly. But what is saving, anyway? Think of it like this: every coin or note you don’t spend is like a chance you’re missing out on. Just like you use a pen for writing or a book for reading, money is a tool for something important. Let’s say you want to buy a car or a house someday. First, find out how much they cost and decide when you want to buy them. Then, think about how you can save enough money. It’s also smart to think about problems that might come up and how you can solve them. By asking yourself these questions, you’ll know exactly what you want to do with your money. And don’t forget to look for ways to make your money grow, like buying parts of a company (that’s called shares) or getting money back each year (that’s called dividends). When you find a place to save your money that fits your goals, you’ll get even more benefits, like getting special help when you need it or getting better rates. So, to sum up, saving money is like making a plan for your future. If you understand how to save and use your money wisely, you’ll be on the right path to a happy and secure future. Start today by making your savings plan that fits what you want to do! To join or Partner with Dimewise Contact us. 0727696913

Facing an economic recession, especially for small business owners, can be tough. However with a clear business plan, a proper marketing strategy, maintaining a customer base, saving money, and also investing in your employees can be very promising to every business owner.  At Dimewise, we are here to help you out and give you the right tools, knowledge, and skills to help you move forward even during the hardest economic times. Here are the ways you can do it: 1: Develop a clear business plan Having a clear business plan is vital for small business owners. It’s like having a map that shows you where to go, even when things get tough, like the economic recession. But making a good plan can be hard, especially for small business owners who have a lot on their plate. That’s where we come in. We help business owners like you make a plan that’s easy to understand and follow. We give advice and tools to set goals, find ways to grow, and save money. You can join our Dimewise Empowerment Hub program to learn more. 2:Invest in marketing Finding ways to tell people about your products and services and attract new customers can be challenging. Knowing where to start or how to make the most of your marketing budget isn’t always easy. Partnering with us can make a huge difference in your business. We are here to assist you in creating a marketing strategy that aligns with your budget and goals. This way, you can make informed marketing decisions that effectively help your business grow and stay firm even during tough economic times.   3: Focus on customer retention Keeping your customers is just as important as attracting new customers, especially during tough economic times. When your existing customers are happy and they keep coming back for more, it can provide a steady stream of revenue and support for your business through ups and downs. However, knowing how to maintain strong relationships with your customers can be challenging as well. We can help you develop strategies to keep your customers satisfied and loyal. With our support, you can build lasting relationships with your customers that keep them coming back for more, even during a recession. 4: Save money Saving money is crucial for small businesses, especially when navigating through a recession. Every shilling saved can contribute to the survival and growth of your business. But finding ways to cut costs without sacrificing quality can be tough. That’s where we step in to lend a helping hand. With our assistance, you can start saving with us and earn interest. If you may need to consider seeking additional financing, such as business loans or grants, we are here to help you emerge stronger and prosper in your business. 5: Invest in your employees Investing in your employees is key to building a strong and resilient business, especially during challenging times like a recession. Your employees are your greatest asset, and their skills, knowledge, and dedication can make a significant impact on your business’s success. However, knowing how to invest in your employees effectively can be complex. Through our support in employee development, training, and motivation, you can build a team that is not only capable of navigating through a recession but also driving your business toward long-term success. In conclusion, navigating a recession as a small business owner is no easy feat, but with the right strategies and support, success is within reach. With our Dimewise Empowerment Hub, we are here to equip you with the knowledge, tools, and guidance you need to thrive, even in the face of economic uncertainty, we shall always be there for no matter what. Our purpose is to help you build a resilient and prosperous business. So don’t wait another moment; reach out to Dimewise today and let us help you grow a successful business. www.dimewise.co.ke

In collaboration with WOF Community College, we conducted a five-day intensive program. In today’s digital world, having strong digital literacy skills is crucial for youth to succeed both academically and professionally.  Recognizing the growing need for digital literacy among the young in Kenya, Dimewise embarked on a mission to empower them with essential digital expertise crucial for excelling in various aspects of life such as education, work, and personal growth. Through engaging workshops facilitated by seasoned instructors, participants acquired the knowledge and proficiency required to navigate the digital landscape.  By strategically integrating monetization avenues such as certification programs and premium workshops, we ensure that the Digital Literacy Program remains our pillar enabling us to train more young people and empower them with digital literacy skills. We firmly believe that the program has laid a strong foundation for the youth’s success in this digital era. To join the next Digital Literacy Program in Kenya please email us at info@dimewise.coke