Date post: | 22-Nov-2014 |
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Business |
Upload: | david-mullings |
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Social Media and Entrepreneurship
David Mullings
Business Ideas
•Random Media•Caribbean Viacom with web as
hub•Kaizen Interactive•Digital marketing agency
targeting Caribbean
Early Lessons
•Don’t spend too much time on writing the business plan
•Bottom-up forecasting vs Top-down•Investors care about IRR - Internal
Rate of Return•Bootstrapping forces you to
understand more
Mistakes
•Trusting people and not realizing they were only interested in money, no passion
•Short-term mentality of some people•Completely underestimating
potential advertisers•Believing naysayers a few times
Building Social Authority
•Focus on creating conversations•Participate•Focused on building positive
opinion of my personal brand, not just awareness
•Relevance matters
Create engaging, relevant and quality content for users in your target
demographicSam Chadha
Director of Marketing - deodorantsUnilever
Building Social Authority
Building An Audience
•All about marketing - use some of the P’s•people•place•promotion•price
Building An Audience
•Represent•Own•Participat
e•Engage
R.O.P.E. Model
Building An Audience
•Be human•Be
accessible•Be helpful•Be respectful
Building An Audience
Treat others as you would want to be treated by an entrepreneur
Marketing To An Audience
•Learn from the best brands•Focus on building both your
personal brand and your company’s brand
•Position yourself as a thought leader
Grand Scheme
•Social media is all about conversations that can be leveraged
•Kaizen helps to make more countries in the Caribbean aware of social media uses
•Random Media leverages social media to connect with customers
Future?
•Before we started Kaizen I negotiated a sale in the future with an existing agency in Jamaica
•Random Media will be acquired by a larger entity and continue to grow
Vision
When I was 15, wrote down a 15-year plan broken into blocks of 5 years and at the end I
would be a positive role model for young people and help to finance startups
VisionCaribbean version of...
Drive
My drive comes from wanting to inspire others, especially from developing countries
Advice
•Find a few mentors•Read books about entrepreneurs and
businesses•Read case studies of failures•Ignore the naysayers•Have a purpose greater than making
money•Keep friends who are real
Find Me
Blog - www.whatiskaizen.com
http://bit.ly/efactordavidm