New Heights Consultants Realize Growth Spurt Through SME Capacity Building
With more than 15 years of experience in the Marketing Industry and being the best at her job, it seemed like a good time to switch gears. Margaret Kositany was ready to start her own marketing agency. In 2016 she launched New Heights Consultants Ltd, a modern digital marketing agency that helps small business brands grow. Little did she know that transitioning from the corporate world to entrepreneurship was a different ballgame.
Moving from formal employment to running her own business, thinking about employees and where to get business was an uphill battle, especially in a cut-throat industry like Digital Marketing. She needed guidance on how to corner the market.
In 2020, she discovered Invest in Africa (IIA) through social media and registered for the Small and Medium Enterprises (SMEs) Recovery and Resilience Program, an initiative launched by IIA in partnership with Mastercard Foundation, that fronted the survival and the building back better of SMEs at the onset of the COVID-19 pandemic.
IIA, in collaboration with industry experts, delivered personalized business development programs through; Virtual Masterclasses, Business Coaching, peer-to-peer mentorship, and an investor readiness program.
Margaret was paired with a certified business coach who offered fresh ideas on growing and better positioning the business.
The pandemic saw the digital marketing industry becoming more competitive with the accelerated adoption of digital technologies in various economic sectors in the Kenyan market. In addition, digitization has become an integral part of product and service delivery, and it is a key driver of the growth of trade in the country and the continent.
“I learnt I need to stand out, step out and sell the business by having an online presence. I need to network and be seen and heard in industry related conversations and webinars,” Margaret shared in the interview.
Another key lesson she got on staying ahead of the pack was the importance of redefining her target segment by narrowing down on the specific SMEs the business could focus on and settling with the low-end group of SMEs who are often overlooked.
The coaching, according to Margaret, helped bring in more clients, thus more revenue, and positioned the business in a sustainable growth trajectory. Adopting the lessons and revamping the company profile gave her confidence to share her work and source for clients actively.
In the future, she is looking to expand the business by having more clients and more in-house consultants who will work together with her in bringing more business.
Working with a business coach was eye-opening for Margaret. She advises other entrepreneurs to register for business coaching as the certified coach being neutral to the business can see into your business from a different angle. With an understanding of the industry, a coach can provide suggestions on how to grow your business.
The SME Recovery and Resilience program by IIA is still ongoing with diversification to incorporate additional partners and collaborators, which is focused on producing more impact to SMEs by enhancing their access to finance, skills training opportunities, and new markets.