This week’s episode is super exciting because we are welcoming our first male guests to the show! My friends William Lee and Kofi Frimpong are best friends and the founders of Socionado, their third company together. Socionado specializes in matching companies with employer branding teams to elevate their social media presence, and has been recognized in Huffington Post, Forbes, USA Today, and Buzzfeed. The company also recently caught the attention of actor Will Smith, who jumped onboard as an investor. In our interview, Will and Kofi share how they landed dream clients like the NBA and Paramount Pictures, the importance of choosing your business partners wisely, and how to get creative with funding outside of venture capital when you’re a minority entrepreneur.
When you begin a business venture, there's no guarantee that it will last forever for you. There may be a time to pivot, and it's important to trust your instincts to know when it's the right time to do so.
When you are beginning a new business venture, do your research beforehand. Not everything will scale the way that you want it to. Figure out what the market WANTS, and what they are willing to offer before you create your offer.
Landing dream clients is a matter of being prepared at a moment's notice. You NEVER know when your dream client is around the corner, and it's important to be as prepared as possible to try to sell your business to that client.
Being a minority in the entrepreneurship space is viewed by most as a disadvantage. However, it's not. You can take whatever people may think is a disadvantage to you and use it to your advantage to help you stand out. After all, people connect with YOU before they connect with your business.
When you're in the beginning of building your business, the biggest way to find money that can be invested into your company is from good old fashioned revenue. Revenue that you make is 100% reinvestible.
Starting a business is tough. But when you are scrappy, and continue to work despite hearing "no," eventually you will hear your first "yes," and things will get easier.
You can't build an empire alone. Who you do business with is more important than the business you are doing. Be sure to be confident in who you're going into business with, and make sure you are a solid team.
What resonated with you the most about this episode? Leave a comment below.
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