Jim Oketch is a young and enterprising techpreneur who decided to take a leap of faith and venture in the tech industry. With the knowledge that technology is expanding, reshaping and revolutionizing the world, there is no doubt that venturing in the industry has greater return in the long-run. Technology has changed many sectors of the economy ranging from transport, communication, healthcare, trade as well as connectivity. For Jim, starting Algoscript Technologies in 2022 was inspired by the desire to make a positive impact in the tech world by creating software products that add value to people’s lives. He shares his story with Destin Africa!
Tell us more about Algoscript Technologies?
Algoscript Technologies is a startup software development company that started back in 2022. It designs and develops custom software applications, frameworks, and tools that help solve problems or achieve a specific outcome. We comprise software architects or developers, at least one product owner, and a project manager. While creating software applications, each software development team puts their own unique ideas and takes customers through the process.
Algoscript is a company that takes the time to understand our customer’s problems, budgets, goals, and desired outcomes.
What was your inspiration for starting the business?
The inspiration to start the company came from the desire to make a positive impact in the tech world. Our mission from then has been to create software products that add value to people’s lives, whether a product, service, or organization, and also how you can use your technological skills and talents to help others, and use that as a guiding principle.
What sets Algoscript technologies apart from other players in the
industry?
Articulating the purpose, vision, mission, and core values that guide the organization has helped us establish appeal and credibility in the eyes of our customers and employees. The caveat to realizing this competitive edge remains rooted in how a startup actively practices the culture they claim. We have maintained a good culture. Our workplace culture has been a competitive edge. It starts with consistently delivering the best service by understanding the market and what’s missing, that is the market gap and adding value in an extraordinary way. This has always worked for us. Furthermore, establishing our business reputation as a top tier while focusing on expertise, experience, drive, agility and offering unique and exceptional customer service.
Tell us more about your entrepreneurial journey?
This was not the line of business I wanted to venture in. It’s something I developed interest in along the way. I was driven by passion for business. It is the force that kept me burning the midnight oil, working weekends and holidays. I believe that working hard can keep me as an entrepreneur through rough times.
I continued to focus and work hard even when things got difficult. Currently, when faced with failure, I refuse to give up and always find ways to survive, despite roadblocks that may occur.
Besides, I was armed with the confidence that I would succeed, and I was willing to take risks. I knew I was in a unique position to succeed.
What gives you the most satisfaction being an entrepreneur?
The thought of being your own boss, making your own decisions and working on them, and the flexibility that comes with it is therapeutic. When you run your own business, you build your own team. You also surround yourself with people who share your vision and work the way you want them to. Being able to nurture new talent and get the best out of your colleagues is one of the most rewarding things about being an entrepreneur.
As a young entrepreneur, what are some of the challenges you face
while running the business?
One of the major challenges is financial issues. Old businesses have the advantages of a history of good credit and years of networking under their belt, making it easy to find investors and secure loans and contracts.
On the other hand, younger entrepreneurs with their start-ups lack these resources. You may be paying off your student loans, thus reducing your liquid capital. You don’t have a network developed over the years, so it may be more difficult to gain the interest of investors. Due to the limited availability of funds, you have less room for error.
Competition is another challenge. No business is built on vacuum. You meet so many similar businesses providing the same products or services. However, taking advantage of your competitive edge and remaining focused plays a bigger role in overcoming this challenge.
What are your future plans and aspirations for your company?
My plan is to take Algoscript technologies into the global space in the near future.
Any advice to other young people wishing to start up?
Having a plan is the best advice I can give to any young entrepreneur who wants to start his/her own business and succeed. It means having some sort of a blueprint before even beginning the process which makes things much easier. It prevents the possibility of guesswork along the way, which ultimately saves time and resources. Furthermore, would-be entrepreneurs should not be afraid to take risks
