Rajiv Mehta, 31, is one of Kenya’s most outstanding young entrepreneurs. The 31 year-old serial entrepreneur is the founder of Tangerine Investments, an outdoor advertising firm that uses public transit vehicles, litterbins and street poles to market leading consumer goods in Kenya.
Tangerine, which was founded in 2008, has clients such as Kenya Airways, Pizza Inn, Subway and Coca Cola HP among others. The company has annual revenues exceeding $1 million.
I recently had a chat with him where he recounted his entrepreneurial journey and reflected on the lessons he has learned along the way.
What’s your personal and professional background?
I attended junior & high school in Kenya and then college and stared studying business management and marketing in university but actually never completed my education & one of the major reasons was finance issues not being able to afford to complete my university.
How did you get started as an entrepreneur?
I had it quite tough as I was working at the family business after my dad passed away and while I was in university and after dropping out too and as usual the family politics started and I was kicked out of the business. I had nothing given to me and had no substantial savings to get started so had no capital and didn’t know where to start. My uncle had given me a challenge to go and earn my own money and had told me that I would never be able to do so and would come back for his help that itself had given me the motivation. I initially started importing liquid tyre sealants and accessories like car winches that I sold to clients locally for that I initially raised around $1000 for my first shipment from China in 2008 which I raised from a few shares I had that I sold and some borrowing from my mum. Thinking of it $1000 in 2008 wasn’t a huge amount and then I kept reinvesting the money back into the business. I moved out of the family house together with my mum, sister & brother and had to cater for all the expenses like house rent etc so It was very hard to get to save money as all I was making was mainly going in reordering stocks and in house expenses. I got married after moving out and when I knew I was expecting a child I decided to get a job elsewhere while running my business in the night so I was working in the day and planned my orders I had in the evenings, I tried getting to save money again but it still was quite a challenge and I decided to finally quit my job and take a risk as it was getting frustrating with the slow growth. I then was also very motivated by the story of Dhirubhai Ambani which I watched in a movie and honestly that was the turning point for my start I put in all the effort worked late nights sending clients emails and working on client proposals. I told my wife I would have no choice but to take the risk which was very worrying for her as I was supporting the whole family with addition to my newly born daughter now. My wife had a saving of $ 2,500 which I then borrowed from her and started the advertising business. With all the effort I put in things just completely changed and the business really grew. So it was the risk I took that made me make it which If I never took thinking of it now I probably would have been in the same place and not had a quick growth.
Your company, Tangerine Investments is one of the leading lights in the outdoor advertising sector in Kenya. What inspired your entry into this line of business? Also, how many clients do you have now and how successful is the business in terms of revenue and reach?
Growing up I have always had an interest in advertising and always thought I would one day have my brand on a billboard just that the outcome is that we now put people’s brands out there on our billboards and street poles. We currently service 500 plus companies including multinationals and local companies. Our reach is in any city in the country that the client needs so we work on client’s needs and ensure we try get them what they are looking for. We have revenue of over $1milion annually for the outdoor advertising company. Apart from that we have diversified and got into other countries and businesses like Large format printing under Tangerine Printing & Design K) Ltd, Outdoor advertising and printing in Uganda under Advert Shoppe (U) Ltd, Outdoor in Nigeria under Tangerine Outdoor (N) Ltd etc.
Access to financing is always a challenge for many entrepreneurs. How have you been able to fund the growth of your Tangerine Investments?
When I started I went looking for finance everywhere to friends, banks etc but nothing worked out I had even offered people a share in the company but no one seemed to have been interested so I got no funding from anywhere and have grown reinvesting our profits back into the company. In way I am happy looking back at things now I own the company 100% and have managed to reach here without any major financing. However for growth finance is key and we are now working on getting financing from the banks.
You are quite young. Has your young age been an asset or a liability in the pursuit of your business?
It’s a tough question to answer but I would say it has worked both ways for me at times it has been an asset and at times a liability but overall I would say an asset as I have learnt a lot and have more time to correct all the mistakes I have made.
Have you encountered any unique challenges in Kenya where you run your business?
Yes definitely being in the outdoor business it is a cut throat industry and have come across very many challenges of which I probably wouldn’t come across doing the same sort of business in some other countries but I guess that challenges have to be faced in all lines of business in any part of the world and overcoming them makes you a better businessperson as you a chance to prove that the challenges can’t stop you from moving ahead and growing.
What does success mean to you?
Success for me means getting everything I want to achieve & it of course has different goals for my personal and business life and when I am told today that I am successful I really don’t feel it and will only feel it once I have achieved all my goals so it seems I am very far from success but working towards it.
What’s next for Tangerine Investments?
I actually have a lot planned and one of my major challenges in executing is having the right team and right people. My vision for Tangerine is to be a global outdoor advertising and print company present in every continent of the globe so we have a long way to go. Apart from advertising we have diversified into other sectors like E commerce, healthcare etc. that we will be rolling out this year in Kenya so we have a lot planned.
Any words of wisdom for young African entrepreneurs that are afraid of starting something?
Never be scared to take a risk if you know you can make an idea work and give it the best you have & can. Don’t also listen to others who always are negative and say you can’t do something because of competition etc that’s too strong or the big companies out there in the sector you are going into just listen to yourself and go for it! Look at all the success stories out there and let them motivate you.