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Interview with Annabel Onyando, Founder Synergy Management Ltd
Date Published: Tuesday December 01, 2009
Synergy Management Limited is a strategic consulting firm whose purpose is to provide African Businesses with the resources they need to grow and create world class businesses and increase individual opportunity. SML supports the growth of the businesses to create fair employment for 50 to 100 people in each organization. Tujuane caught up with Annabel Onyando, Founder at SML to talk about SML, current business plan competitions and other related topics.
ENTREPRENEUR RAFFLE - BUSINESS COMPETITIONS
FOCUS ON SML
What is Synergy Management Ltd? When was it founded? How long have you been in operation?
We are a strategic consulting firm focusing on SMEs and we started operations in 2007. The company was initially registered as Synergy Excel Management Consultants in 2001.
What are SML's objectives? What do you want to achieve in the long run?
Our purpose is to provide African Businesses with the resources they need to grow and create world class businesses and increase individual opportunity. We aim to support the growth of the businesses to create fair employment for 50 - 100 people in each organization
What are some of the services offered by SML?
Businesses need a lot of support during start up, expansion and growth phases however this is also the time that most have limited cash flow and cannot afford the cost of hiring professional consultants. SML is able to ensure entrepreneurs get the support they need at a comfortable fee by working through established networks of highly qualified experts both locally and internationally.
SML services are aimed at entrepreneurs who would like to either start or grow their businesses. Services are offered both virtually and physically so distance is not a hindrance.
SML offers business coaching service for business executives and senior management. Business coaching addresses the varied needs of business leaders and ensures they are able to reach their full potential by capitalizing on their innate skills. Our coaches provide practical methods in learning and implementing skills that need to be developed by business managers if they are to excel as business leaders and fully explore the opportunities they have in leading teams.
SML offers business training facilitation both in-house and online. We also design trainings, training material and manuals for organizations working with entrepreneurs and train trainers. Some of the training we run include; Business plan writing; Starting your business; Business Management; Expanding your Business; Ready for investment; Buying and selling a business; Managing information; Managing people, and; Budgeting and Financial management.
Who are SML's target market(s)?
We operate within the East African Region i.e. Kenya, Uganda, Tanzania, Rwanda, Burundi, Ethiopia, Sudan and Somalia. Our target clients are;
Existing entrepreneurs; small and medium enterprises with no more than 100 employees, in any industry
Potential entrepreneurs; individuals interested in going into businesses e.g. after retirement or after school
Corporate organizations, NGOs, MFIs and Government institutions both local and international wanting to make their programmes sustainable.
How did the idea of SML come about? What was the motivation behind it?
Having in past consulted for big blue chip companies, I found there was a need for more African blue chip companies that could provide more jobs for Africans at all levels and stir up African Economies. However the entrepreneurs who could grow these companies were hindered by lack of resources or the skills and ability to get what they needed to grow.
By providing this Synergy is able to help create more African companies that will grow and employ more people to make a difference within the African economies
What are some of the challenges you encountered initially when trying to get SML? How did you acquire the initial capital?
Being a small firm with no track record was a major challenge.
Capital for starting and growing SML has been through savings
Do you maintain any strategic partnerships? With whom? What is your relationship with the BiD Network?
We have as many strategic liaison and will continue to build them to reach as many SMEs and entrepreneurs as possible. We are the national organizing partners and representative for BiD Network in Kenya
Tell us about the Access to Clean Energy Challenge. What are the Expectations of BiD Network from this challenge, especially for Kenyans?
The clean energy challenge is targeted to businesses in alternative energy. These can be Solar PV Energy plans, HydroPower plans, BIOMASS plans, liquefied petroleum gas Wind plans or Solar thermal plans. Non-renewable energies are not excluded but the approaches to energy production, usage or financing should focus on established, affordable, reliable technologies that move communities up the energy ladder towards cleaner, more modern forms of energy.
Those who choose to participate must ensure that their business plans: Comply with the general participation criteria; Their country of business is on the DAC list, and; belong to the sector of this competition which is Clean Energy.
We have all experienced power rationing lately and high fuel prices. Most Kenyans appreciate the need to start thinking differently about sources of energy and finding new sustainable solutions to the power problem that will not affect our natural resources and water towers.
Tell us about the Women in Business Challenge? Expectations?
We expect to encourage Women in business seeking growth capital and new markets and specialist support to submit their business plans. Women have always been shy of being profiled or being in the public eye. However for women to succeed it is necessary that successful women are profiled as this encourages other women.
For those who want to participate in these challenges, what should they focus on and what if they need assistance with developing the business plan?
Those who want to participate in the competition must be women. Finance requirement should be between USD 100,000 and USD 1 million
There are templates for writing the business plans available on the Bidnetwork website that can be used depending on the stage of development of the business.
For personal support on writing the business plan or coaching one can request for a coach when writing their business plan brief which is done online in the Bidnetwork website when submitting the business brief.
What have been some of your feedback from past Challenge participants? Do they find this helpful? Do you keep up with their progress?
Most of our participants especially those who have received awards continue to stay in touch. Winners are expected to give continuous progress reports. The feedback from the entrepreneurs and generally from those who have worked with us is that they appreciate the support and that our services have opened up their view of their potential or the potential of their business.
This feedback has been both from our clients who are happy and those who may not appreciate direct feedback and prefer to be flattered.
ABOUT ANNABEL ONYANDO
Tell us a little about yourself?
I am an entrepreneur, a consultant who is passionate about the development and growth of African SMEs and entrepreneurs, and hopes to make a difference in African entrepreneurs by working with like minded business leaders
What is your educational and professional background?
Trainer consultant for past 14 years, MBA Finance and Strategy as well as a Bachelors degree.
What in your background prepared you for your role in Synergy?
I have always been in the consulting business. Running my own business helps me relate and understand entrepreneurs well; their weaknesses, strengths, ambitions and fears.
What is the most challenging part of your job?
Entrepreneurs who do not appreciate the effort put in to supporting them and assume someone else is paying for the support we give because we partner with international organizations; and entrepreneurs who are not honest making it hard for us to sell their businesses to investors as they are not trust worthy even though their business may be great.
What is the most fulfilling part of your job?
Successful entrepreneurs and growing businesses which are able to employ others
Any last words or advice for our readers?
Though they say you will not work another day if you do what you love, business for fun is great however where there is no return it quickly becomes frustrating and stops being fun. Having a balanced view on business return and impact is crucial for one to have a satisfying career in business and employment.
Contact Info
Synergy Management Ltd
7th Floor, Block One, Eden Square, Chiromo Road Westlands
Tel: 3535557 / Mobile: 0722817355
Email: info@sml.co.ke
Website: http://www.sml.co.ke
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