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FiveDovesBusiness Incubator | | Financial Director | 01/14/2003 | Executive
Cornelius Chepsoi is the Financial Director And Co Founder of FiveDoves Business Incubator a Private sector##comma## Entrepreneurship Promotion Company based in Kenya##comma##East Africa.

What kind of training or education did you acquire before your venture?
I hold a Bachelors degree In Business Management.Ever since i was young i have dreamt of being at the top as a Chief Executive of My own Organisation.FiveDoves along side other Small Business among my Businesses Now.

What services or products does your organization offer?
our company is an Entrepreneurship promotion company.We are located in Nairobi##comma##Kenya(East Africa). We offer assitance To young University and Tetiary college students and graduates who wish to start or ar running their own businesses. Other than incubation services we conduct 6 month training programs concurent with mentoring servise carriedout by succesful business entrepreneurs and seasoned Proffesionals. We also faccilitate the internationalisation of growing enterprises.

What type of business or organization do you operate?
We are registered as a company limited by shares.

How many employees do you currently have?
currently ##comma## 4

How did you originally discover the idea for your organization?
The company model was a result of several brainstorming sessions we held. Besides we received assistance from other organisations running similar programs abroad such as FATE Foundation

How did you originally fund your organization?
The seed capital was a grant from the World Bank.

Are you the founder of your organization?
I am a Co Founder

Do you believe there is any distinct culture within your organization? If so, please describe it.
It is too early to say we have developed a distinct corporate culture.

What obstacles or challenges have you faced in your organization?
criticism and a lot of discouragement.Many people find it easy to criticise than to encourage others realise their dreams.

Did you accept any advice along the way? Do you believe new organizations should be open to such advice?
Extremely important. Without the support of our board of Advisors we would not be where we are. considering. People who have been in business for long have over time gained invaluable expirience lacking among new entrants in business.

Did you receive any help along the way from other businesses or organizations? If so, how and from whom?
Yes.We have received the support of several organisations. The World Bank##comma## Jarvis consulting Centre for Excellence in Entrepreneurship at the United States International University-Africa among others. A good number of them are Private sector organisations.

What have been the keys to success in your business? What do you believe are the keys to success?
Focus##comma## Faith in ourselves and Networking.starting a busines from scratch requires alot of Dedication and Focus and this has helped us a lot.

What kind of relationship do you establish with your customers or clients?
Innovation is the key word. it may as Well it is too early at this stage to say that we have a clear edge over our competitors. Our capacity is still small but we expect Tremendous Growth this Year.

What types of marketing do you employ?
Unemployment in Kenya has Risen to intolarable levels. Our organisation comes in handy as aserious substitute to Job Seeking. As afirst step we are running awareness campaigns in all universities and other Diploma colleges in the country. A more popular scheme is the business plan writing competition.

Do you employ any web or online marketing?
Yes. A good percentage of our external communication is via e- mail which has proven cost effective and quick way of communication.

What role does trust play in business or in your organization?
We have and we are sure to make them again. A good example is one time when we desired to hire a professional who did not show up##comma## cost us a good deal of money and time .

Did you struggle with starting your own organization or venture? Why did you decide to begin on your own?
Yes##comma## but not this soon.Education taught me to look for Good Jobs prior to joining Business. But i am glad in the position that iam in now.

What books or resources would you recommend for individuals starting off now?
Biographies of successful business people or other leaders##comma## success stories as well. they are motivating and tend to assist in sticking to our dreams.

Do you notice any trends in the marketplace? If so, what are they?
The world is becoming ##quote##smaller##quote## by the day.Information and communication technology (ICT) is dynamic.Any business that will not appreciate this technological advancement will close down.

Do you believe networking and contacts are important? If so, how?
Very important.Networking is the lifeline of Business.

What do you think about contracts and other legal obligations? Are they important in your business?
Focus and discpline.

If there is one thing that would sum up your advice to new entrepreneurs, what would it be?
Knowledge is good. But its aplication is the key to success. Any knowledge is important formal or informal. university degrees are Good as the open up the mind.
i learned Basic management skills in campus but practice has taught me how to deal with my attitude and how to relate with other people as an important resource in business.

What, if any, final advice do you have for new entrepreneurs?
stay focused

This addedinterviews article was written by Cornelius Chepsoi on 3/9/2005

Cornelius Chepsoi FiveDovesBusiness Incubator Executive