Waceke Nduati is a calm soul. One that makes the occasional appearance I should add. At her offices in Westlands, a colleague was surprised when I mentioned that I had a scheduled appointment with her. “We have not seen Waceke for a minute!” he mused. I later learned that Waceke had been in what she calls “a cave”…just taking time to create and finishing up on her book. She is a director at Centonomy Limited, a company in the knowledge industry with a focus on Wealth Creation. The Inquisitor sought her out to gather some insights on her entrepreneurship journey.

Tell us about the early years in your career, right after University.

I started off at Dyer and Blair as a stockbroker before I left for Australia to pursue my master’s degree. After I returned, I helped my parents on various projects as I ‘tarmarcked’ on the side… I know what you are thinking. Tarmarcking is not just a millennial thing (laughs). I later got a job at Loita Capital, then moved to African Alliance and then CFC Bank (Which has since converted into Stanbic Bank).

You’ve been up and about…

Yes, but my work experience at any one place was not that long. By the way, my experience stretches into odd jobs as well. While studying for my masters, I washed dishes, stocked factories and worked as a shop assistant. I later got a job as an assistant accountant for two years in Australia and while at it, it dawned on me that I was not built for preparing financial statements. My heart was not in it.

What was the work environment like in Australia?

I can’t really say how it was in general but after the accounts assistant job, I worked at an investment firm. It is here that I got to understand, in my view, what a good boss is. Our boss did not micromanage us. He did not care what time you came in as long as the work was done. He believed in having fun at work. It was a good place to work.

At what point did you decide to take the Entrepreneurship path?

In the companies I had worked for, there was a lot of bureaucracy. There were too many layers to go through and even if you had an idea, you did not get the chance to run with it. At that point, I felt it was best to explore my craziness. To go all out. I was quite good at investments. Especially the stocks market. I therefore started a stock broking agency. However, with the insights and experiences that I got from many of my clients, I realized that I preferred the conversation on money a lot better than just managing stocks for people. I then decided that I wanted to teach people about money. About creating wealth. It was at this moment that Centonomy was conceived. It was the “Aha!” moment.

As you started off, what lessons did you draw from your early career life?

There was a definite benefit in having been employed first. Observing how other companies were going about their operations was important. Additionally, there are certain experiential learnings that are not necessarily taught in business school. For instance, pitching a sale, marketing yourself or writing a proposal. Secondly, I had been exposed to entrepreneurship all my life through my parents. They were entrepreneurs themselves. This background was so much of an exposure to entrepreneurship that it was the foundation for my life as an entrepreneur.

10 years in the knowledge industry. What challenges has Centonomy overcome?

The biggest challenge was convincing people of the need to attend a class like Centonomy and to get people to understand that the benefits of the class are not instant but delayed. That there is no tangible good to hold, feel and look at. Centomony started in 2009. I initially did personal finance for people at an individual basis before resorting to having more impact by reaching out to many people all at once. I had realized that people had the same problems. When we started Centonomy 101, we expected to have the phone ringing off the hook with clients ready to sign up for the program.  But that unfortunately did not happen. A few months in, and without clients, I thought it was best to close shop. But as I was mulling over the thought one day, this one individual walked into our offices, and outrightly paid for the entire course. The whole course! I immediately had a change of mind and heart. I said to myself, “Even with this one individual, the show must go on. It will go on, and it will go on well.” This is what has kept us going over the years.

What informed the decision to transition from the position of CEO to that of a Director?

When I started Centonomy, the intention was to have the company outlive me. It was almost like a subconscious decision. With the experience I had in my first business, I saw how draining it was when everything depended on me as the founder. I thought it would be best to get other people who I could coach so that they could run some classes in my absence. With that in mind, I was instinctively looking for individuals who could work without my direct supervision. I have managed to build a great team over the years, and I attribute it to God. I got the right people who have come in and have taken initiative and ownership of the company.

How about the transition itself? Was it a no brainer?

It was not an easy decision for sure. Me exiting my position as a CEO was founded on an understanding of myself. I am a creative. I suck at routines. When a business grows, it becomes more and more operational. I understood and accepted the fact that I was not the best person to manage the routine operations. I realized that there were individuals right under my nose who could do it better that I did. All that they needed was empowerment. But so much was still reliant on me since I was calling myself the CEO. This was when the letting go started. I needed to go back to being a creative because as the business grew, we required fresh content and new products. Sitting in as the CEO was preventing me from exploring this creative side of me. I felt that my season was over.

Do you have any fears of Centonomy losing its identity having been for a long a time been associated with your ethos and values?

Initially, I was fearful.  But I chose to look at it from the bigger picture: leaving a sustainable company. Centonomy has grown to be a brand. I am confident that it is well on its way to building its own identity, separate from Waceke. Clients do not expect to see Waceke all the time. So, yes there was a fear. But only a natural one. One you would expect from an entrepreneur letting go of her “baby”.

What growth opportunities are you now pursuing after your transition into a director?

I now have more time to explore my creative side to help the company come up with new ideas. There is so much that Centonomy can offer the market and we are looking at exploiting these opportunities. I will now have time to create and to network.

How about from a governance perspective?

We are working towards setting up a formal board. We want to institute governance structures in order to enforce accountability on what we have decided to do as a company. We are currently evaluating the kind of minds that we need to fill the skills gaps that we have identified. Also, having been the CEO for many years, I will be offering the company my experience through mentorship and advice because I have the institutional knowledge.

Tell us about your new book.

The book is called Making Cents. It is a reflection on the conversations I have had with people on the topic of personal finance. I have captured the stories of three main characters and the impact that the Centonomy class has had in their personal lives. I have my own personal finance journey in there too. I am excited about the book because I  had been writing it for quite some time. It has been a long time coming.

What does the future hold for Centonomy?

Continued focus on personal finance, entrepreneurship and career acceleration, all of which lead to wealth creation. There is a big need in the market for knowledge products in these areas.  As content creators, we are narrowing down the focus to make it more bespoke. So, I would say a lot of customized product innovation. Experiential and practical.

We are also looking at expanding our footprint. We have already had classes in the region and are also building partnerships beyond the continent. We are not a Kenyan company but a global company and that is what our future is about.

What are you most proud of?

My pride is around people. I am proud of the team that I work with. I have people who came in and owned the company. They did not look at it as Waceke’s company but their own. I am most proud of seeing these individuals grow to what they have now become. We created a culture that empowered people to realize their potential and to be more than they thought they could be. Beyond that, the transformation in the lives of people that have invested their time and money in our classes has been phenomenal. These individuals have gone even further and impacted other lives as well. It is humbling to see the impact we have had. It makes me proud.

What are some of your reflections as you let go of a company you have built for this long?

Well, I’d tell entrepreneurs to watch the seasons. Don’t hang on when your season is over.  The hanging on sometimes brings the businesses down. Be aware and let go. Find your relevance elsewhere.

I imagined Waceke ‘dropping the mic’ after her reflections. Many entrepreneurs find it hard to let go of what they have devoted all their efforts in building for so long. For many, the business and the entrepreneur are one and the same thing. This makes adapting to change quite difficult. Waceke is on the path less taken by many. Hers was a conscious effort that involved a deeper understanding of herself as a person and the understanding of how proper governance can ensure the longevity of a business.

The Inquisitor.