We introduced precast technology in construction and broke even within a year

With Precast Technology, you can reduce construction costs and period by half. My wife and I learnt about this technology abroad and we wanted to use it to build our rural home, but we couldn’t find a local supplier for precast.

We saw this as a huge opportunity. We did some more research which included travels to China, UAE and other countries to learn and understand more. The budget for capital was about Sh20 million which we funded through the sale of assets like land, motor vehicles and unsecured bank loans since we were both in active employment.

We also got some of the machinery and trucks through hire purchase directly from the dealers. We started our operations in 2017 while we were still employed.

I worked in the banking sector and media before I ventured into this business. This greatly contributed to my exposure. My wife, who was my co-founder, was in the telcos. We started by building our home in Meru which gave us firsthand experience.

A few friends liked our three-bedroom house and gave us business. Within one year we had broken even. Being a new concept, the old generation is still struggling to accept the technology. The unpredictable cost of construction materials like cement and steel, which form a large percentage of raw materials, is greatly affecting the construction industry.

Our big break came during the Covid-19 outbreak. At the time, there was a mandatory requirement for increased spaces in schools, churches and government offices to adhere to social distancing.

This was very exciting because with Precast, a classroom or a church could be built within two weeks. It was during this period that our products were fully accepted by big corporations, schools, churches and government institutions.

We spent a lot of time and resources setting up our factory. We employed clueless technicians who had no idea what we wanted but wouldn’t admit it. We should have sought professional services or contracted our suppliers for a full factory set-up of the production line. This would have saved us time and money and enhanced our efficiencies in those early days.

We save money by ploughing back the profits and expanding our business. This is mainly through the development of more product offerings or business assets such as machinery and equipment which in turn increases our revenue streams. Previously, I used to save through a savings account, but it wasn’t working because of never-ending needs.

Whatever business you choose, give it your best and the results will come. Mistakes are part of life. Acknowledge your mistakes without excuses, own up and learn from them. Everyone needs a support system, and mine is family.