What is My Story?

I have passion for entrepreneurship and finance and have helped few people launch their start-ups. I would like to be acknowledged and trusted as a person who can help people or businesses to launch their start-ups from idea conception to launching the business. For this reason, I started this site to tell my story - http://www.businessstartupsupport.com/ It is still a work-in progress now.

In addition, before now, my businesses have mainly been selling to individual customers or consumers and I did not have any problems with that, as many of my customers came by word of mouth. However, in 2014, I started a property business that offers services to other businesses and that completely changed everything as I really struggled to get customers. The approach I used to sell to individual customers has not worked because when I call them to arrange a meeting, they would ask for my website to check me out as Alan has already mentioned.

One thing that I have found out is that on the online platform which digital marketing manly uses, customers are not only interested in how good your products or services are, but are also interested in you, who you are and what you have done. Alan makes a comparison between “drama” and “scenery” and I think with the skills from this course, I will rewrite my contents to provide the richness, authority and confidence needed to enhance my reputation. But I think this takes time.

I am also part of many networks but I need to improve my communication to become a better story teller. In addition I am learning how to use the social media more effectively.

The definition of Digital Marketing

The definition gives a good insight into the practice of digital marketing– the use of digital channels to communicate with customers/consumers, instead of the traditional method, which mainly relied on tangible items such as business cards, newspapers, magazines, TVs, brochures and logo for branding of products and services etc.

The development in digital technologies as well as the internet and mobile technologies have caused changes in the way people behave and do things, and as a result, a new approach to marketing is required.  I think one consequence of this is the amount of information that is available and how people are willing to connect and share information, create communities and build relationships. I think this aspect of connectivity, sharing information and building relationships present marketers with the opportunity to know their customers better and serve them well.

Digital marketing seems to be having a great impact and is reshaping some industries. For example, Newsweek’s announcement in 2012 that they were moving to digital sent shock-waves throughout business and media world after nearly 80 years of publication. This is an internationally renowned brand but despite that, consumers were being served through digital channels such as online, tablets better, where they can subscribe and read the news 24 hours. In the UK, early this year the Independent newspaper did the same thing and moved to digital too.

One aspect in the definition that I like very much is the idea of evaluating “the success of marketing campaigns”. As the course progresses, I would like to see how this happens. 

Online Business Format for Jordan

I think this kind of business can be done entirely online based on subscription or direct sale of the advice in the form of an eBook. In this case Jordan would have an online business which only provides advice to couples on the legal requirements associated with getting married in some overseas places. For example, Destination Bride , sells “A Complete Guide to Planning Your Wedding Anywhere in the World” for $19.99 - http://www.destinationbride.com/about.html

However, from my previous case studies, I know of a business that was started like this, providing online service to tourists. However, the founder realised that they could make more money and provide better service by being involved is most aspects of the value chain. So, they set up an office and engaged the services of other companies that they felt were good at organising the weddings and other events at the destinations. After, the second year, they decided that they wanted to give the customers a special experience, which those companies could not provide, as this was their strategy for keeping their customers. So, they started opening regional offices, where they are now able to take charge of the travelling arrangements, right from the country of origin to the destination and organising all the events.

It seems Destination Bride does more than selling only guidelines and I would do the same. Jordan could start selling the guidelines first before expanding into other areas of the events planning and management activities.

Starting a Business Creates Change

I have always wanted to start online businesses. Few years ago, I was about to launch one but was discouraged by friends. Regrettably, today, that business idea has become a huge success for others. This shows how bad it is to have an idea without taking action. I think it is better to try and fail than not trying at all, because of fear of failure. It is also better to keep friends that motivate you and are of like minds.

I want to go into health and food business. I became sick in 2010 and later, I realised that the medicines that were given to me produced more side effects than the benefits. I read a lot of stories on the internet and forums and the stories were the same. People that were given the same medication were experiencing the same side effects. After doing a lot of research and taking courses in nutrition, I found that a lot of common diseases that people suffer from could be prevented and even reversed through food, without having to go through painful side effects of medications, some of which may not be reversible.

So, that is my story and passion. I want to change the world through food! I know there is a lot of hype about healthy eating these days, but most of them are hypes and money making schemes, as diseases and malnutrition are increasing. For example, in the UK, results of Health Survey for England (HSE) for 2014 show “that 61.7% of adults were overweight or obese (65.3% of men and 58.1% of women)” It is expected that by 2050 obesity will affect 60% of adult men, 50% of adult women and 25% of children - https://www.noo.org.uk/NOO_about_obesity/adult_obesity/UK_prevalence_and_trends

Another reason as to why now is the Internet, the platform/market for online business. I have just completed course on Digital Leadership, Internet of Things and Digital Marketing. These courses widened my understanding of the Internet, its potential and role in future as more and more transactions are conducted online. Even in my local shopping centre some old established businesses, even well-known clothing shops, have closed down and one of the main reasons is online business as more people are shopping online, where they can find more competitive prices, variety of choices and convenience.

I think the main benefit of starting an online business or any business is control of my destiny - fulfilling a purpose as I believe everybody has a purpose for being in this world.

Important Lesson Learned from Zigbee Technology

I think the most important lesson learned from the Zigbee venture is what has already been found out about the proper way to start a new venture. According to the Effectuation Theory of Entrepreneurship, developed by Professor Saras Sarasvathy, University of Virginia, there are two types of thinking when starting a new venture; “effectual” and “causal” thinking. Casual or predictive reasoning or rationality involves having a pre-determined goal and using the resources available to find the most efficient way to achieve that goal as in the case of Zigbee.

Effectual reasoning is different, as it does not start with a specific goal in mind. It begins with a set of means (resources) and goals only emerge over time through the of interactions of the founders with the stakeholders. For example, effectual thinkers are like explorers who set out on voyages to unknown places.

In other words, effectuation principle holds the view that, contrary to causal reasoning that says you have to plan first and the execution comes second, effectual reasoning depends on execution. As already stated above, the reason is that most entrepreneurs use what they have got to start with. Plans are not static and many people with experience with start-ups will agree that predetermined plans are changeable and sometimes do not reflect the realities. I have heard many instances where business founders have said that they never used the plans because the realities on ground were entirely different form predictions to the extent that the plan became irrelevant.

Also effectuation Theory focuses on the cost, what is called “Affordable loss”. The process of evaluating any venture starts with the evaluation of the means or resources (cost) and from there, the goal is determined. Goals and risk (cost) have to go hand - in – hand.

I think when embarking on a new venture flexibility is required and surprises should be seen not as bad news but as potential clues to exploit new markets. Basically what this principle says is that entrepreneurs have to be open to change and be prepared to go in a different direction. Causal reasoning does the opposite by doing everything to minimise surprises or bad news as we have seen in this case.

Digital Leadership - The Three Questions!

How much do I know about digital technology? I think to know something is about gaining skills and mastery of a subject both theoretically and practically. I have used social media and have stored things on the cloud and have used mobile applications, but that is all. I think to have mastery of digital technology requires the ability to use it develop competences and strategies that enable digital leadership solutions to be implemented. So, the answer is I do not know a lot about digital leadership at the moment

Traditionally, anything about technology has been left exclusively for the people in the IT department and there are still some “old school” managers that are not interested in technology even in things as simple as email, not to talk about using other social media applications or platforms. I believe the bulk of managers in many organisations need retraining in digital technology to see technology as a friend instead of as a threat.

I think what makes a good digital leader is willingness to embrace and experiment with change and surprises, willingness to develop digital leadership capabilities and willingness to motivate his or her team to develop and adopt digital technology to transform their thinking and the business based on the business goals. For example, imagine what it would be like to have a company in which the CEO is fluent in digital technology. He or she would be interested in developing the digital competence of the workforce. The opposite effect would happen where the CEO does not have any interest in digital technology.