EFactor.com - Social media for entrepreneurs

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