Suzie Wokabi made her name in the African cosmetic industry after she became the first Kenyan woman to start and own a cosmetic line. Suzie founded her business SuzieBeauty in 2009 and built the brand as CEO for 7 years before selling it to Flame Tree Group in 2016. As a mother to two children under the age of four, she found it uncomfortable to juggle the roles of CEO and motherhood so she was glad to give up the responsibility to take up her new role as Chief Creative Officer and Brand Ambassador to focus on what she liked best- product and PR.
Suzie has a bubbly personality and besides her comical side, she is also sincere in nature and humble with her achievements. She quickly admits she couldn’t have succeeded in business if it wasn’t for her husband’s support in looking after the children. Her darkest days were the nine months she spent fundraising for the business which required equity partners to raise the cash needed to manufacture the initial products. She tells me she had developed the 30 product samples of cosmetics in different skin tones but she didn’t have the cash to place the bulk orders with her Asian manufacturer. Banks and the majority of investors refused to back her as she had no sales figures or team in place – it was just her and her husband, but they eventually found two firms willing to fund the business and get the Brand started.
Here are business entrepreneur, Suzie Wokabi’s top tips for entrepreneurs:
- Do your market research – Suzie spent 15 months developing and testing her product samples in test tubes at home and getting feedback from family and friends. She then spent a further 9 months to raise capital before launching her business 2 years after she wrote her first business plan.
- Keep going – If you quit too early, it means you don’t love what you do. If you’re passionate you’ll give it all your effort and find a way to make it work. Patience and perseverance are super important as there are too many knockdowns in entrepreneurship. Roll with the punches and find a method to keep your sanity. “I had to learn how to meditate and find time to exercise just to get the adrenaline out in the morning. Then in the evening I need some quiet time just by myself with a book and glass of wine”.
- Know your magic – there is always competition. Your biggest competitor is the one you don’t know of yet; there is always another hungry entrepreneur who will try to beat you at what you do. If you focus on what makes you unique, you will stay a winner.
- Choose a business partner who is great at things in which you are weak. In Suzie’s case this was her husband- she admits she doesn’t like to look at financials so she leaves this with her husband who has a background in IT and finance.
- Choose investors who possess the right chemistry. You may have only one offer for money but never accept it in desperation; wait until you find someone who shares your vision and will work through problems together. Suzie declared she and her husband are introverts so they chose investors with a similar personality instead of overpowering individuals.
- Yes you CAN build a business with your spouse! We always hear that marriages break down when a husband and wife go into business together but there are too many negative stories, we need to remember the positive ones. Suzie and Eric are proof of this after 7 successful years. “It works when you possess opposite skill sets and can schedule your work around the children without having to explain your work day to your spouse. We have a better understanding of the down days as we’re in it together. The best thing we did was to start this business as a couple; I believe that is hugely the reason behind our success”.
