How Social Media is Reinventing Content Generation, Distribution and Consumption

Entrepreneurship in Technology

Moses Kemibaro, Dotsavvy LimitedJKUAT/MIT AITI-x Open Day

7th November 2009

Beginning.

Your idea has to have a market for it.

Aim for the mountains!

Most start-ups fail within the first year of business more so 2 to 5 years later.

Your idea is not exclusive get help.

Networking is essential.

Plan, plan and plan more than needed.

Funding.

The fishing is best where few dare to go money follows the most audacious ideas!

Start small (friends and family) and then build that to larger funding prospects (Angels/VCs/Incubation)

Having a working prototype/model its much easier to sell the real deal!

Talk to everyone and anyone funding can come from anywhere.

Partners.

Partners should complement your competencies everyone needs to add value.

Mentorship from seasoned investors/board/advisors/colleagues is invaluable.

Can be rough! Just like marriage make it work! Focus on the end game

If its not working, look at plan B!

Can change direction at anytime.

Team.

Hire people as smart or smarter than you! it will add value!

Hire people based on their ability to deliver, on quality, on expectations, on time, with integrity.

Great talent is often shy really look hard, you'll be surprised!

Learn more than you need to about leadership its an endless journey!

Attitude.

Motivation to get things done is overrated just do it!

Long hours, small pay just another day at working on your dream!

Your passion to realize your dream will keep you going.

Be humble, driven and focussed Entrepreneurship is not for everyone!

Keep learning, it never ends!

Challenges.

Be prepared to have no money to fuel the car or pay the rent!

Cashflow is king! Get paid.

Spend more and more time with other successful entrepreneurs they will show you what works.

Competition always be on the edge! Stay relevant

Employees will leave live with it!

Growth.

Can catch you off guard be prepared!

A 2 person operation is very different from a 20 person business develop systems and processes.

People run the systems the systems run the business!

Delegate or go mad, literally!

Cashflow, again, is king to go to the next level! Get funding if needed.

Business.

Choose your market niche/segment, then go for it!

Do the math it has to add up!

Not all customers are equal its a fact, 80/20 rule (pareto's principal).

Branding creates differentiation whats your brand story?

Build strategic partnerships.

Credentials matter customers buyin

Service.

The customer is the boss, really! - make sure they are happy.

Do more than you have to customers fuel your business.

Apply the 80/20 rule you'll be surprised!

Choose them, once established.

Referrals are key, ask for them.

Fix loopholes with systems.

Closing.

Things never go according to plan live with it!

Solutions to BIG Problems yield the biggest returns what needs fixing?

Work harder than ever, really hard!

Maintain a work/life separation.

Change is the only constant!

Your health and longevity is more important than the business!

Thanks! Questions?

Moses KemibaroDotsavvy Limitedemail: moses@dotsavvyafrica.comtel: www.twitter.com/moseskemibaro web: www.dotsavvyafrica.com blog: www.moseskemibaro.com