This post concludes the 2020 Experiment. It has been a year of rapid experimentation of ideas, in which I’ve learned a lot and unexpected results have come out of it.
As mentioned at the start – I wanted to present (and show to anyone reading) that ideas should be carried out like experiments that can be quickly tested, changed in the face of evidence and discarded quickly. Instead of declaring to everyone that you are starting a business, execute in silence until you have something (at least partially validated) to shout about.
The Experiments
The experiments and subsequent results were: {The experiments, with links, and their results}
Experiment 1: Impact Drive – This was a software designed to measure impact for development project in Africa. This led to me meeting contacts in the development space that respect what I’m doing and will reach out for any future opportunities.
Experiment 2: Wellvest – a platform to provide cover for freelancers. This was quickly qualified out – personal friendships made during the process of validating the idea
Experiment 3: eLlama– a platform to engage employees with gaming rewards: this (and experiment 4) led to a job at an esports company and led to further opportunities to run a few intrapreneurial experiments. It also led to (further down the line), my introduction
Experiment 4: esco – a platform to invest in esports assets and stocks : see results above
Experiment 5: PPE NE – an initiative to reinvest PPE into the local economy : following this I connected with someone well respected, with connections to carry out a similar idea. In discussions now.
Experiment 6: L1R1 – personalized gaming comics : failed experiment but increased contacts and knowledge in the gaming and esports industry.
Total spent on experiments: £350
Unfortunately there was no 7th experiment or ‘B-sides’, other experiments outside of the 3 ‘curiosity areas’ either. I felt that 6 experiments was enough and did not want to overwhelm myself, since I was working on other projects and commitments. I also felt myself trying to force the 7th experiment.
If you just looked at the experiment results themselves, the whole 2020 experiment would be a failure and waste of time. But – as you can see, 6 experiments, not too many hour’s-worth of time and £350 has indirectly led to a job, income, further business opportunities and some friends and many business associates made. Also the blog itself is a journal that paints the picture of someone who isn’t afraid to take risks and try different things. Not enough people realise this when trying something new.
Experiments I did in 2020
The Articles
I also published articles on the 2020 experiment about topics that interested me. As mentioned in the first quarter feedback, the articles led to me networking and making new friends across various industries. I also received kind comments from existing friends that said the blog showed me in a new light to them. I now often get questions about how to validate ideas or even request to help people out with a business idea of their own. From a personal standpoint, it has been satisfying to put the stories and failures out there, in the form of a blog (average of 1 every 2 weeks), providing a sense of closure to many incidents, experiences and experiments of the past. I also felt that I became stronger as a writer as the year progressed.
The End
2020 has been a tough year for many of us, who have lost jobs, friends of family due to COVID-19 or other causes. Many right now are facing uncertain futures and many are at a crossroad. Some are still figuring it all out or just can’t get started with their ideas or aspiration. This blog has been for them and hopefully shows that failing forward is still positive, because you’re moving in the right direction – Forward.
JI
______________________
“Don’t fear failure. In great attempts, it is glorious even to fail.” — Bruce Lee
This post is about my experiences of starting my startup, Comparisol, from 2017 to 2020. This is a summary of how I did it – from coming up with the idea, validating the idea, obstacles, to its eventual end – as well as the emotions I went through whilst doing it.
Inception
2017. In between taking a year off to travel, do a masters and trying to write a novel – I was also interested in starting a business! I was studying a masters in Oil and Gas Innovation from the Scottish Funding Council and was more interested in the ‘Innovation’ part as opposed to the ‘Oil and Gas’ part.
I read all the recommended books – Lean Startup, Disciplined Innovation and all the others that didn’t bring value at the time. For about 5 months I was trying too hard to force ideas out – I learned eventually that the worst way to come up with a business idea is to sit in a room and come up with ideas.
I was always curious about Africa and all the opportunities there. After three years in doing an uninspired job, I wanted to spend time meeting and working with people in a different environment. There were some emerging markets in Africa, such as solar and LPG. My first idea was a Liquefied Petroleum Gas (LPG)- delivery service (more on this later). However, I wasn’t truly convinced in myself and my ideas at that time – confidence issues. One evening I was going through old notes from my travels to Ghana and Kenya, which I went for weddings. On my travels I noticed the amount of solar panels being installed in homes from Kumasi to Accra to Nairobi. These of course replace kerosene lamps and candles, which are unhealthy, emits CO2 and is expensive to buy.
Candles, commonly used in rural areas
Candles and Solar
I then found – through conversations and observations – there were many fakes in the market and that many thought that there was only one solar supplier (there are many). I read the stats that 60% of people in countries like Rwanda did not have access to electricity, yet 80% had a mobile phone. So almost naturally the idea of an app where people could learn about, compare, and eventually buy a solar product came to mind. Comparisol was born in June 2017.
The beginning
Transition
Similar to how society as a whole, we need to transition from oil to renewables and so did I – but within a few months. I left my previous company six months prior and most people disapproved – friends, family and in particular previous colleagues. I had spent 3 years in the oil industry in Aberdeen, a city often known as the oil capital of Europe. So I was still around people from a ‘past life’ and had a feeling something would need to change.
This came to a head when I went to the birthday party of an old colleague. There were a few colleagues and people I knew in the city. When talking about aspirations, when I said I wouldn’t mind spending time in an African country for a few months, someone at the table burst out laughing. Then, when talking about their futures over the next few years, I heard comments such as: “I wouldn’t start a business” or “I wouldn’t leave my job”.
This is fine. Not everyone shares the same view as you. But its up to you to choose how much of it you should listen to. When I left that dinner I decided I needed to make some changes if I want to execute this project. As a result I made a conscious decision to spend less time with most of those people, respectfully. I needed to be around people progressive and not chained to their industry or profession. I remember when I left the sales industry to move to Scotland to get into oil and gas, where I was branded ‘crazy’. I used the same method – spent less time with the ones that weren’t opened minded to support what’s simply a career change.
In addition to people I had to make some adjustments online too. I initiated a ‘purge’ of connections on LinkedIn. I deleted everyone from the oil industry, except people that I really respected (and not the people I was supposed to respect). I also unsubscribed from most newsletters. Therefore I wouldn’t see updates of the oil industry in my LinkedIn feed.
The ‘Purge’ – removing hundreds of contacts from Linkedin
Mindset
I also had to make some mental adjustments. I was approaching the unknown and had no mentors or clear route to execution, let alone success. I recognized what I didn’t want be involved in oil and gas again (despite the degree I was doing) after initially looking into technologies like 3D Printing and things that I felt I was supposed to like.
However, I was still trying to gain confidence in myself. Years in corporate had stagnated my creative confidence. I advanced to the final of a startup competition (called Climate Launchpad), but I still had a sense of imposter syndrome when I was pitching my idea to others (public speaking was another area I had to improve on).
I was looking at my Lean Canvas / Business Model Canvas and writing myself off – telling myself there was no demand, picking holes in my own business model and doubting whether I was the right person to pull it off. I even messaged my friend saying that nobody can use the app because they do not have enough smartphones (they do – that and featurephones as well). To get past the fear – I reminded myself of the past, of the times that I was written off – based on my ‘inexperience’, reputation or even worse, my race – and yet still got the job done (as I did in my last job).
Fear – and also inaccurate
I also decided I need a co-founder. I was not afraid to share my idea – no-one gives a shit about your idea to copy it. And I met my co-founder in July 2017 where I later pitched my idea, which he thought was great. He also gave me the confidence (I guess it was partly confirmation bias) to continue. However, in hindsight, this was also a mistake (more on this later). I also had to build relationships in Rwanda (a country that I hadn’t spent too much time in), to convince them of my vision. Therefore, I had to be (and eventually was) mentally tough enough to see it through. The entrepreneur’s journey is one full of insecurities and difficulties.
The Entrepreneur’s Journey
Validation
Ok so how do I start a business idea from Aberdeen UK, to executing in Kigali, Rwanda? From early 2018 to mid-2019 came the validation process. This involved the following process:
The first was to speak to customers. So we partnered with a community savings group (also known as a SACCO) in the Southern district, spending hours observing our end users and interviewing dozens of them to understand their requirements and perception of solar etc.
Customer discussions
We then embarked on paper testing – which is showing customers screenshots of the application from start to finish. This involved translating the app from English to Kinyarwandan, the local language of Rwanda.
Paper Testing
This kicked off the feedback loop – and it was brutal. Their list of feedback, both positive and negative was huge. But it was very helpful. They made great suggestions – for example they wanted to know not just about solar, but other products like cooking fuel, education insurance, loans. Either way, we felt that we were ready to build the app and launch.
First version
In between these steps were plenty of presentations I had to do, pitch decks had to write, competitions we entered and accelerators we did, which gave us the funding to build the platform, pay the team and execute the project. The presentation attached is the one I presented at the showcase of the RGU accelerator, who awarded us £10,000 grant.
After validation we then built the code for the app and finally launched in 2019 – two years in the making. With the help of local leaders, community leaders and media, we launched the Comparisol app in the Southern region. It was one of the most satisfying experiences of my life. There have been many things in my life that I have been unable to execute on (for example, the planned novel), but this – this, nobody could take away from me. Since launch, we went on to improve the lives of hundreds of families, who used our app to learn about, compare and buy a solar product.
Launch Day
We also won awards for our work, most notably Scotland’s Herald Pioneer Awards, for Diversity in Innovation. In hindsight I probably should have enjoyed the moment more – I was a bit cynical at the time about award shows and its true motivations. But it was a testament to the members of our team – Maurice and Simeon, who we couldn’t have done it without – and also those that supported us and funded us.
Herald Pioneer Awards 2019
Disappointments
Along with the wins were several disappointments and losses:
Co-founder: As mentioned before I had a cofounder, who I believed had the enthusiasm and expertise of renewable energy that I was lacking. However he was running a media agency and consultancy (none of which were profitable at that point) and in addition to having a family, his output was poor. The things that I turned to him for expertise and support – business, sales, networks, renewables – he mostly failed at, since he was trying to figure things out for himself. This became a major source of frustration because I was the face of the company and people – from friends, family, business associates, were asking the question ‘where’s your co-founder?’. Even mutual business connections were making excuses for him – ‘he’s had a tough year’ – which was pathetic. He had his priorities set – his consultancy, his blog, then Comparisol. This situation also made me more protective over the startup and my achievements. When we won awards, when I pitched Comparisol in front of well-known public figures, I didn’t invite him, knowing that he would plug his own businesses and take undeserved credit.
In hindsight he would have been a better advisor – at best. I should have spent more time to understand his responsibilities before asking him to be my co-founder. I left it too late to have this conversation with him and should have flagged this before it became a major concern. I take responsibility, wish him the best of luck and will make better judgement on who I choose to work with.
Advisor : We had the wrong advisor on our team. End of story. He did not invest the amount he was supposed to for the equity he had in Comparisol (which was high), then went on to accuse me of not being committed to my own company! We eventually managed to get rid of him and I also told him what I thought of him on his way out. Again, I should have done it earlier. They say that your first few hires are the most important – well, having the wrong co-founder led to the selection of the wrong investor.
‘The Process’ : It took too long to validate and launch Comparisol. This is because the process of starting a business aimed at Africa is a long and hard one. Getting financial support for it was an achievement, since there isn’t too much enthusiasm about businesses aimed at the African continent. To make things worse, those that did receive grants, funding etc. in Africa where mostly white Europeans or Americans – not even Africans from the diaspora. This is a common trend in Africa which needs addressing.
Sustainability : Ultimately we were not good enough. The business was unsustainable. We were surviving on grants mostly and after COVID-19 kicked in, there was no support, even from those institutions who were supposed to provide it. Our best chance was to work with the government and fatally, we were not selected by the Rwandan Development Bank for a contract to run their national solar awareness, which would have made this sustainable. It was ‘one-shot-one-kill’.. and we missed the target. Checkmate.
End
Ultimately I decided to stop towards the back end of 2020. I knew I could get a few more grants but did not want to be a ‘grantrepreneur’ – an entrepreneur who just gets grants, without producing value or a sustainable business. I had a good run, which reached the end. I built something from idea to product and made an impact, albeit a small one.
I wasn’t afraid to stop and there was no need to save face. Many entrepreneurs are like, using an analogy, boxers – that have been well beat but yet still want to go another round. The best thing to do is chuck in the towel and fight another day. Take the learnings into the next fight and preserve your key ‘faculties’ : enthusiasm, mental health, optimism, creativity and so on. Even ‘failing’ has its merits. All in all, starting a business was one of the greatest decisions I’ve made and would do it again, given the right opportunity.
End of the Road
Notes
Many entrepreneurs try to bounce back quickly after they have ended (or are ending their business). I did the same, participating in an accelerator (called Ignite), where I had no business idea, wasted £10,000 of VC money and had a bad experience overall!
I have partnered with another entrepreneur to work on an intrapreneurial project. Running a startup within a startup has many benefits – you get the support of the company, whilst getting the opportunity to innovate.
I’m always experimenting and cooking up ideas – but looking for a validated idea plus an ‘unfair advantage’ before committing to any new projects.
As mentioned in ‘Inception’. I originally had an idea for a delivery service for Liquefied Petroleum Gas. Last year KopaGas (who had a similar idea) were acquired for $25 million. I even spoke to the founder 3 years prior. Did I choose the wrong business idea? No – because its not just the idea that makes a business successful. It’s the execution, the team, the advisors, the market, luck and so on.
I made some changes in my life from 2017 to 2020. One being that I have become less materialistic. Knowing that I had developed a small hoarding disorder at the time, I decided to either sell or gave away 70% of my possessions. For example I would sell my trainers for more money than I bought them (good business!) or when the Grenfell Tower fire happened, I got the tube to Latimer Road and donated a suitcase of clothes.
Grenfell – June 2017
I also came to realize how much admiration, respect and inspiration I had from people, near and afar. Someone is always watching, whether we make millions in revenue or not.
I also kept a journal (on OneNote) of all the positive things I did every year from 2017 onwards. It makes for good reading and is a reminder of the wins and blessings I had on the way – this often gets lost on the entrepreneurial journey.
This is the sixth experiment that took place a few months ago. In this experiement I came up with the concept of ‘L1R1 Comics’ – which are personalized children’s comics, which feature characters from their favourite games. I’m fortunate to be around a lot of Gen-Z kids – from neices, nephews, cousins, mentees and so on. So this idea came from talking to that audience, plus my knowledge of what is going on in the culture and tech startups.
Gaming x Comics
Two genres which are closely aligned . One worth $1.1 Billion (Comic Books), the other worth $152 Billion (Video Games). Children’s comics have surpassed superhero comics in 2019 as the most popular type of comic book. However, the comic book industry has taken a hit due to the COVID-19 pandemic.
Gaming is the most popular form of entertainment in the world. What was once dismissed as a pointless hobby even 10 years ago is now in the mainstream. Esports, also known as competitive gaming, has seen a lot of growth over the past few years. However most revenue is still coming in from sponsorships – so businesses are always looking for new revenue streams.
Gaming
Both industries can learn from each other – comics can be more personalised like games (such as Fortnite). Gaming (and especially esports) companies will benefit from another revenue stream.
Solution
L1R1 Comics will provide comics that appeal to those interested in gaming We will partner with video game publishers to produce personalised comics based on your favourite games in addition to creating original material.
Behind the comic books is a tech platform where people can enter their personalised details (real name, gaming name, personalized message, hobbies), which we use to create our own multiverse – different stories and narratives.
Unlike SportStar Books, Wonderbly or other similar businesses, L1R1 is aimed at stories around gaming.
Pitch deck ready
Idea Validation
The whole idea of a personalized gaming comic would involve a story based around the person’s favourite game. Bear in mind that the comic books are for children, so the games would be the likes of Pokemon, Fortnite and other popular games. Therefore I needed to reach out to the someone responsible for partnerships at Epic Games, The Pokemon Company and so on. I searched on LinkedIn and searched for who I thought was the right person. Often I would contact the junior employee or even the wrong person, to lead me in the right direction.
When I finally got through to the right person, I would send a pitch deck (which I created on Canva) in an email and await feedback. Most seemed happy about the idea but there are processes which prevent partnerships on art. For example, this was a response from the The Pokémon Company International, Inc:
______________
Hi Jason
Your idea of personalized comics sounds like a lot of fun – unfortunately we are not allowed to manipulate the stories of our animation in this way. Also I’m not sure if you are proposing original art for these, but that is also not allowed for us – our artwork comes specifically from Japan.
I’m sorry not to have better news here! I wish you all the best with your endeavor.
Best,
_______________
And it was here that L1R1 Comics hit a brick wall. At just concept level, there was no leverage to use to partner with these companies. Therefore that would be the end of the experiment
There are other alternatives to this concept. Instead of games like Pokemon, Fortnite etc, there could be personalised books which include a favourite esports team, or YouTuber (since 1 in 3 Gen-Z and Millenials want to be YouTubers or social media influencers). With the right model and niche, the idea could bring in regular income.
However, taking a look at competitors on Companies House and others that I know have closed down recently – success in the publishing industry (which includes personalised books) – is a very tough one to sustain.
Outcome
Experiment status: Ended
Reason: Unable to partner with key stakeholder requied.
From a list of what feels like hundreds of failures I have selected one of my biggest – failing to write a novel despite doing years of research – and the reasons why. I hope that someone can take a valuable lesson from my story.
The Race Against Time
It was September 2011 – I had just moved to Aberdeen from London to study my first Master’s degree. The last 2 years had been life-changing. My father passed away in 2009 which set me on a path self-discovery. At the end of 2010 I left my job of over 3 years in sales, and spent a few months in Nigeria, my country of origin. I came back from that trip energised wanting to know more about myself and history. On New Years Eve 2010, I decided that I was going to go through a career change – In 2011 I would move to Aberdeen to study a Master’s Degree in Oil and Gas Engineering, with a view of getting into the oil industry. It was one of my late father’s last wishes and I wanted to honor it – or at least try. It was an ‘experiment’.
At the same time, a lot was going in the world. Race relations was in the mainstream at the time. There were a few major talking points that year, such as the John Terry racism incident. The same summer tensions had gone into overdrive during the London Riots, initially over the killing of Mark Duggan. After speaking to a friend about what was going on in the world and events of the past. I started to think about random ideas. I was always into action movies and was a bit of time-travel geek (Terminator, Back to the Future, Primer and so on). Mixed with my deep curiousity of black history and my own history I came up with an idea for a story that night. I already had the title. ‘The Race Against Time’ was born.
2011
The Storyline
Race Against Time was about a white supremacist group that were using a time machine invented by government scientists – to go back in time and changing outcomes to benefit them – such as assassinating influential black figures. The scientist who helped invented the time travel machine, sensing it being used for bad reasons, then sends back two black protagonists to go back and stop the white supremacist group.
Set in London over a 60 year period, the book would break into 11 stories, based on the lines of the London Underground: Bakerloo, Central, Circle, District and so on, which is how they travel through time. The story would be one large chess game with the black protaganists and white antagonists trying to overcome each other over decades. The protaganists’ characters would develop over the course of the story; one would become more militant, pro-black and the other would become more anti-violent as the story reached its end.
The book would ask some important questions about whether we’ve truly made progress on race relations over the last 50 years. Also the after-effects of travelling back in time – where that leaves your religious beliefs, withdrawl symptoms, mental health and so on. This was the skeleton of the book.
Brainstorm
300 Pages of Research
This story would cover over 60 years of British, African, Pan-African history as well as complicated, nuanced subjects such as racism, imperialism, capitalism and non-fictional concepts like Time-travel. To get this right and write a story to be proud of, I had to research all these topics. This involved reading books, watching documentaries, movies, essays and more. I probably over-indulged because I was into those topics before I had the idea.
There was also the matter of knowing how to write a story. I studied a storytelling and screenplay Diploma years before that but I also read a few books on the topic and reading best-selling books for inspiration. I later signed up for a Masterclass course on book writing.
I kept all my notes through the years on Microsoft OneNote. Before leaving my job in November 2016, I decided to make the most of the office printer and binding equipment. I was about to take a year off to travel (in addition to further study) and was ready to go. I had 300 printed pages of research and was finally ready to sit down and write the book I was destined to do.
Preparation
Why I Failed
Procrastination.
Procrastination was the thief of time – and my story. Weighed down by the expectations set by myself, I failed to write even the first draft of my story. When it came down to the crunch, I felt like I had not got the structure of the story right. Then were feelings that the story did not have enough substance – only style. Trying my best to push forward, I went to the following measures – and extremes.
Watching motivational videos and reading books like Steven Pressfield’s The War of Art which suggested just getting a shitty first draft out, without thinking about it
Locking myself in a hotel for 5 days to write – mixed results
Having an ‘accountability partner’ in the US during my travels to force me to write.
At the end of my US trip in May 2017, I had written 20 pages, but felt like I had written myself into a corner in terms of plot and was torn between going back and redrafting, or carrying on. Also the work on my Masters degree started picking up and shortly after I came up with a few business ideas – one of which I would do for another 3 years (will tell this story in another post)
By 2018, once I became serious about that business – Comparisol – I felt like the ship had sailed for Race Against Time. I started to see on TV and in fiction, ideas that I once had. The idea had lost its allure. I also no longer had the passion to write the story and decided to let it go. I just couldn’t “do it” anymore. Eventually I threw away the 300 page research file and put the electronic copy on a hard drive.
However, I chose to take the lessons learned and tried to apply it to the next project.
First and Last Draft
Learnings
Audience of One
When I came up with the idea of Race Against Time I instantly pictured it as a hit, landing me on the New York Times Bestseller list (as if it matters) and a movie studio buying the rights to it, turning me into a black J.K. Rowling. To begin with, a small minority of authors make money to live on from their books. The focus should be getting the first draft done for an audience of one – yourself. Similar to startup idea validation, don’t look too far beyond the first task: writing the first draft the re-writing to making it better.
There are things you can do online which may increase your chances of success – checking Google Keyword Planner or Trends for hot topics, or making the story female-focused (since women tend to read books more than men). But most professional authors would tell you to write the story most authentic to you – to scratch your own itch. The audience of one.
Living with the Fear
I have taken many ‘risks’ in my life – overcoming many fears along the way. I have been in situations that have required resilience, fast learning or immediate action. So I was at first surprised to find myself unable to write at least half of the story. The truth is the fear doesn’t go away – even after experience. It will always be there – so its all about pushing through the fear. Acknowledging the fear plus procrastination plus ‘writer’s block’ (the creative shutdown) – and getting the job done anyway.
A bit of research is always helpful – but whether its a month of reading or a day speaking to one person – you are enough. The years of research weighed me down. The best course of action would have been to have just written the first draft of the book as quick as possible, before assessing if I wanted to continue to make it better. Its almost like a startup experiment.
Closing the Book – Early
If a project has weighed you down in a negative way over a number of years, it no longer serves you – let it go. It’s the same with a job, business, relationship or anything else that may take valuable mental and physical resources. Take the data (lessons learned) from the experience and either move on completely or adapt in a way which will make a similar task or project easier. In my example, I could have written short stories since I struggled with the novel format. There is no shame in walking away.
“okay guys, I’m out”
The Upsides
There were several upsides from this experience. The first being that I learned not just about myself, but about topics that I was genuinely passionate about, regardless of a complete or incomplete book. I learned facts and things about black history that are finally in the mainstream consciousness due to BLM and the events of 2020. The stories and lessons I learned drove many decisions that I made in 2012 to 2016, that I’m still proud of to this day.
Travelling around the USA in 2017, where I went to Washington, Atlanta, Houston, New York and Los Angeles was one of the best decisions I have made. In each city I did a black history tour and they were experiences I’ll never forget.
Finally, regarding any creative or innovative project – I have taken these failures into account. Day by day I’m becoming more of an ‘executioner’ – though still not to the level that I would like to be. By taking one of my greatest disappointments and sharing it, it also feels empowering and maybe someone else can learn from it.
This is the 5th experiment of the 2020 project that took place during the first UK lockdown this year. During lockdown, I was asked to help a friend, who was connected to a supplier of personal protective equipment (PPE). Supplies included surgical face masks, gowns, nitrile gloves, goggles and more, which were in huge demand due to the pandemic. The whole world needed PPE. After a few months of helping my friend out – and 5 months after I finished a business accelerator in Newcastle (North-East England) 2019 – I came up with the idea of ‘PPE NE’. ‘PPE NE’ is a business model designed to help support the community and it can be applied to any region in the world.
Problem
COVID-19 is affecting economies all over the world. People have been furloughed / made redundant. Businesses – small and large have closed down and many face uncertain futures. Newcastle and Gateshead (where I spent half the year of 2019 in), is no different. Just a few weeks ago, Sage Gateshead – a key hub for performing arts – axed one-fifth of their jobs (link).
Most industries have suffered, except a few, such as the PPE Market, which will be worth $93 Billion by 2027 (Fortune Business Insights, 2020). Because of the pandemic the PPE industry is at the centre of attention. However, most of the revenue goes to countries which are PPE manufacturing hubs – US, Malaysia, Vietnam and China.
Solution
PPE NE plans to redirects profits made from PPE sales, back into the local North East economy. This would be done by corporates, health service providers and organisations that require PPE in bulk, by purchasing it from the PPE NE platform. We would then help them to source the PPE, donating a piece of the commission made, back into the community. Therefore we can help assist struggling institutions or businesses. This is Stage One of the business model.
Stage Two would eventually involve having PPE manufacturing plants built in Gateshead / Newcastle, meaning 100% of the profit stays in the community. Therefore there is a circular effect on business made, giving the region a much-needed financial boost.
PPE NE Business Model
Idea Validation
For this experiment I took the most important assumption and challenged it:
That organisations need personal protection equipment
I know that businesses in the community would accept any type of funding to support them. I was connected to a few suppliers of PPE. Now I had to find – and gather interest – from the companies that were going to buy them in bulk (i.e. millions of masks and nitrile gloves) – to make this worthwhile.
“It’s a great idea”
One of my targets were Newcastle Council and Gateshead Council. After sending a few emails I spoke to someone within the council, who said it was a brilliant idea. He kindly offered to pass on my details to the decision makers at Gateshead Council, Northumbria Police and a few other companies that would be interested in sourcing PPE. I went on to have a similar conversation with a few others who would champion the PPE NE concept and pass it on to the relevant people.
“It’s not such a great idea”
Unfortunately, when I got through to the decision makers at these organisations, my progress hit a brick wall. Councils like Gateshead have a procurement process where you register and compete for business. While re-investing profits is a noble cause, what often matters is the best offer (i.e. what’s cheapest) as well as an established company thats trusted to deliver the PPE.
At the start of the pandemic, the supply chain was a mess and many companies converted into medical supply companies to answer the call. Now, governments are back in control of the chain, in addition to PPE donations that they have recieved that will last the next year or so. The window of opportunity was a small one – and it had shut. The rest of my conversations with key decision makers mimiced the one I had with Gateshead Council. I tried to access large companies through ‘
Even though I knew how the procurement process worked, after months in the PPE business and years in the corporate world – I still decided to test the concept anyway. The experiment cost no money, only hours sending emails and creating a presentation on Canva.
There is still demand for PPE in the world – and a chance to help the community from it beyond catching COVID-19. Maybe someone reading this can find a better model.
In my previous entry (The List of Ideas) I wrote about how I keep any business ideas in a Trello list, for inspiration, to get my ‘idea muscle’ to work regularly. Over a few years, I have hundreds of thoughts, concepts and ideas.
Today, I’m sharing some of these ideas. Many were ones that I came up with and didn’t follow up- or ideas I did a little brainstorming on (like a presentation / pitch deck). Some had little thought put into it and some ideas which are remixes of what’s already out there. As a result, the style of the writing is different – some are elevator pitches and others are just thoughts written down.
I’m putting these out into the world – take it and run with it. Maybe you can see another angle to these concepts, that could make them into a profitable business. Feel free to get in touch if you want to know more about any of them or to understand my initial vison behind the ideas (jiyeke@gmail.com).
Mobile Apps
1. Street Food Market App
At a street food market, is there are a way you can reduce queue times, know what food / stalls are available, even order food – without going to the food stall? Maybe an app could be the answer. On the side of the food provider, they can use data to understand how much food they need on a particular day, cutting down on food wastage, for example. The app could even provide a local internet connection to understand more about customers.
This idea came up while I was eating lunch with mates at Mercato Metropolitano in Elephant and Castle, where I managed to get lost and wait 30 mins for my taco.
Market Size: UK street food market stands at £1.2 billion
Every keen footballer has been down this road.. they are playing football in the park, using jumpers for goalposts. The ball goes in the corner near the goalpost.. did it go in? Does it count as a goal? Maybe an app or tech which simulates a full-size goal from the jumpers goalposts can determine whether the ball went in. A Video Assistant Referee (VAR) for non-competitive football!
3. CyberPass – the Rewards Platform for Mobile Security
As we are becoming more and more connected, it is important that businesses carry out ‘cyber hygiene’, making sure that we protect our phones and protect our workplaces from cyber fraud. CyberPass rewards employees for putting and maintaining the right security measures in place. Rewards include discounts, special offers, and more. As a result, security threats are reduced and employee morale is increased.
CrypKicks are digital sneakers, which vary in rarity and can be bought or sold, using blockchain technology.
This idea came during the peak of bitcoin and blockchain (around 2018), when there were ICOs galore. Games like Fortnite have also shown that there is a demand for people to express themselves creatively and digitally.
In the same way that Grammarly works to prevent grammatical errors, can an application help to prevent the posting of a meme that may not be ideal or even appropriate? A thought that lasted no longer than five seconds.
Culture is often a leader in learning and we tend to learn a lot from movies and film – you’ve heard the stories about immigrants or young children learning the English language from their favourite TV channel.
The same can be applied to business – you can learn from your favourite programme, not just The Wolf of Wall Street, Social Network etc. That was the thinking behind the idea of a YouTube channel where people learn business, entrepreneurship and motivation lessons from TV shows
7. ‘Big Short Maths’ – school lessons given by famous people
In the movie The Big Short, there were cameos from celebrities like actress Margot Robbie, singer Selena Gomez and chef Anthony Bourdain to explain concepts such as subprime mortgages and collateralized debt obligations as a meta-reference. I came up with the concept of an app where celebrities can explain complex maths or business terms for. However I stopped when I thought ‘would this app even be effective and improve people’s maths or business skills?’.
Anthony Bourdain explaining Collateralized Debt Obligation (CDO) in The Big Short (2015)
8. Investwiv – Influencer-led crowdfunding
Investwiv is an app is where influencers team up with businesses to start a crowdfundng campaign, bringing more attention to the startup/product and hopefully investment.
The Black Experience
9. BlackNotes – summaries for Black history books
BlackNotes is Blinkist for Black History. Read summaries of books from black historians. Similar to platforms like Netflix, all Blinkist and Instaread need to do is add these type of books to their existing catalog.
Most toy foods in the market are western food – chips, apples, etc. Are there African, Asian or other global foods that kids can use in their toy kitchen? Another quick idea.
11. Black Robo Advisor App
The last few months has seen a huge increase in the call for investment into black businesses. Similar to Ellevest and Finmarie, which are financial advisory services for women, a similar service for black investors may be useful. Invest in businesses that help build promising black entrepreneurs, provide financial literacy and so on.
Platforms like onFrontiers, AlphaSights and The Nest help users to connect with experts in business and entrepreneurship. However, there are so many remarkable people outside of the business sphere. We’ve recently seen essential workers that have kept the economy going. Survivors of domestic abuse, war people that have risked their lives to help others etc. People that are the first black / LGBT / Disabled person in their field. There are so many people that can inspire us. Therefore the idea of a platform where people can pay for 30 min / 60 mins to speak to and get advice from these heroes, may be a great idea.
Reverse Mentoring is the opposite of mentoring; the wise, experienced senior member of the company taking on a junior entry-level recruit and instead of imparting their wisdom, they listen and learn from their junior colleague. Idea for an app which can pair the seniors with the mentors, based on their requirements and strategic goals.
‘New Normal’ – Other Ideas
14. Virtual Elderly Care Centre
A virtual day care system is simply a unit, which is age-friendly, where those who require care, can check in from their homes. Using this system, they can play games, do group classes with other people and check in with their carers. As a result they can cut down on the expensive costs of being in care, from the comfort of their own home. Countries like Finland have already adopted this. Also, with the large infection rates of COVID-19 in care homes, going virtual may seem to be a safer option too.
A virtual visit in Helsinki – Sarah Johnson (The Guardian, 2015)
15. Vitamin D Challenge Blog
Vitamin D is a frequently searched-for term in Google. And rightfully so – approximately 1 in 5 adults and children have low vitamin D levels. Low Vit D levels is also said to cause tiredness, weakness, muscle and bone pain. Ethnic minorities in particular, are at most risk and scientists have found a correlation between Vitamin D deficiency and COVID-19 mortality rates. Therefore a blog, which gives information about Vitamin D, gives users the chance to sign up to challenges and make people accountable together – would be a good way of getting people healthier, similar to websites tackling similar issues.
We’ve all heard of the following shows: from Shark Tank in the US, Dragon’s Den in the UK to Face The Gorillas in Rwanda. However, theres another animal out there, that is not on the television. This animal is more sinister and will invest in your startup before ripping it apart from the inside.. the Predator.
The following article is from a startup founder, based in East Africa, who had a bad experience working with an investor. The investor in question is well established within the entrepreneurial ecosystem. I’m posting this on JayNotes to show that investment, for those that manage to get it, is not the Holy Grail they think it is.
ARTICLE: How to avoid a Predatory Investor
Last year, I signed a deal with a private investor who ended up killing my business because I did not give in to his demands. I want to write a letter to all the entrepreneurs out there and tell them what to look for and how to avoid running into such monsters.
We were almost in the clear: I had found around 200k of strategic investment, a brilliant business partner who would come on board, and a successful pilot that was still running. But it was all going to happen too late. I needed bridge financing and we needed it fast. This investor was able to do it, so we thought we solved our problem. After signing the deal, things happened quickly. The understanding that we had all changed. They had completely misled us. The situation is typically when you are more desperate for cash, need to move fast, and don’t have the resources you need to vet the investor. Here is a list of things to look for to make sure you avoid this happening to you:
These are individuals, not members of groups or business’, and typically very fast moving, want to make a deal as soon as possible. They don’t want to “bother” with getting lawyers involved or other directors. Commits to funding without a lot of due diligence. They are, after all, not looking for the viability of the business as much as they are looking to see how little resources you have to fight them.
Wants to control the conversation with other investors. This was a big one. Lots of red flags went up when they started just brushing them off, saying “we don’t need them right now” They want to bring in their own investors, who won’t ask questions or conduct proper due-diligence.
Highly protectionist clauses in the contracts. Clauses that result in default of the loan that are meant to guarantee that you can not find work-arounds to their funding. Clauses like, if any of the directors of the business conduct any other business, are the directors or shareholders of another business, that counts as a default. This means there is zero trust between the two parties. What it did was when the relationship fell apart, it was clear they had set up all the right stop-gaps to make sure we could not get him out of the note.
Very strong negotiation tactics. If they want something that seems like its a bit one-sided but are willing to throw the whole thing away to keep it: run. If they are willing to walk away because of a seemingly unfair clause, then you know they are not in the relationship for the right reasons. It is time to get out.
Vague details and lacking specificity through the note. It was not clear at first, but it became so as I started to hire lawyers to find ways around this. The biggest blunder was that the exit clause was not clear. It was soft enough language that things could be argued both ways, so it would have to go to court, something that we could not do. This was in multiple places in the note, meaning most of the things that we thought we had, we did not have. You really need to hire a good lawyer to go over your notes!
In our case, their offer was amazing. They spent an hour working with us to figure out what we needed in the long run. Then the next 20 minutes telling us how they were the solution to all of those problems. It was too good, and in hindsight, false. They did not deliver on any aspect of their agreement. Infact, if anything, they hampered us from being able to reach the goals we set out.
What to do when you have a Predatory Investor in your startup
So, you messed up. You don’t have a lawyer, you need the money desperately, so you signed the note. They gave you the money, but now they have access to everything and are a gate-keeper. What do you do?
Find a way out fast, fast. Do what you did not do the first time. Call a lawyer, go meet with them. Explain everything, accepting your mistakes, biases etc. and tell them to find you a way out. This gets a lot harder if you started spending the money, but then you need to find the other money to get them out.
Never ever ever give up leverage. If you have the money that they gave you, hold it. Do not let it go. Close the business, let everyone go, do everything you have to do, but do not spend that money. This is your exit plan. If you can the business and hold the cash, that is your get-out-of-jail card. Have your lawyers talk to their lawyers and get it all done that way. If you can’t afford the legal fees, that’s fine, do it anyway and then figure out how to pay the lawyers. This will also allow you to get this finalized there and then. Do not accept a promise, or anything short of signed legal documents that all the lawyers agree on.
Be very aware of their power. What can they do to you and others around you that they can use as leverage. This ends up being really more like war games then investment strategy. If you have their money, that is what they want. What do they have that you want? Maybe it is that they are blocking another investor, or that they have a lawsuit against you that will defunct your work-permit. Find out what they have and know how they can get to you so you are not blind-sided.
Conclusion
If they have given you money, you have the leverage. Use it. Either they go, sign all the settlement and release documents and then leave you alone, or you go with their money. Make that clear. Make it really simple. Do not back down. Get your lawyers to be the ones communicating with their lawyers.
There are other people that the investor messed up other them our company. It was clear that they had done this before. It was too well planned, they knew what we were going to try and do when the truth came out. In the end, it is up to the community to black list these people and make sure that this does not happen. By shining light on the issue and standing up regarding how big the mistakes I made as a director were, we can help to weed these people out and avoid this in the future.
Recently, I had a call with someone from the fraud investigation unit at Northumbria Police. The contact was someone that followed up on my request to speak to them last year, when I was doing research into the older community (see previous article) and in particular, vulnerable members of society. While I’m no longer doing research in that field, I thought it would be useful to share some notes (and subsequent thoughts) from my conversation.
What is Romance Fraud?
Romance Fraud is the act of a fraudster, pretending to be the perfect partner through an online dating website, only to gain your trust, ask you for money or steal your identity. In 2019, £50m was lost to dating scammers. Women, who represent 63% of victims, lost twice as much as men on average.
In Gateshead (part of Northumbria, UK), there was a sharp increase in romance fraud over the COVID period – a time where many people have been feeling vulnerable and lonely. I listened in horror about a story of a retired dentist who she thought she met her special partner online. She went on to lose £24,000 due to an insurance scam she invested in, with the encouragement of the man she met online.
Stories like these are common – hundreds of millions are lost through these scams and sadly when a Nigerian fraudstar sneezes (i.e. finds a victim), the rest of us (in Africa and the diaspora) catches the cold, giving us bad reputation, worldwide. Nowadays, dating websites have strong safeguarding measures, in addition to websites like Action Fraud which have clear steps on how to prevent becoming a victim of romance fraud. However, most read this when it is too late.
Tackling Romance Fraud (Action Fraud, 2019)
In Search of Hope
A long time ago I used to watch the show Catfish, where the hosts Nev and Max investigate the romantic partner that someone has met online – and never in person. Often that romantic partner turns out to be completely different to the person they claimed to be online – a different looking woman, opposite sex etc. At the time I found the show entertaining, thinking ‘people are so gullible’, ‘only in America’ etc. The older I get, the more I’ve become aware of how the internet is a vessel in which people’s hopes and vulnerabilties are exposed and exploited – this transcends dating, into other sectors.
Over the last 4 months I have been helping a few friends that manufacture or distribute PPE supplies (masks, nitrile gloves, ventilators etc) to find buyers. A lot of the work has involved connecting with potential buyers – people who I do not know (personal connections are always best). Through these people we discuss what they are looking for, agree on price range and move towards a deal. However, almost every potential deal ended up in ‘heartbreak’ – fake buyers, window shoppers and more. Even though there were legitimate buyers and our offerings were simply not good enough, with each potential deal we dared to dream, even though we were all pragmatic. One of my colleagues broke down in tears after a buyer (who I suspected was never real), pulled out of a huge deal at the last minute.
The common denominator here is hope. Whether its the person looking for a deal online or the person looking for love – that hope, that potential of success keeps us going. This also happens offline – the reason why people stay in relationships that will never work. Or those that stay employed in companies with bad working conditions, values and that fail to develop their employees. Its that hope of a better tomorrow which keeps people going – and it takes a brave person to say ‘enough’, draw a line in the sand and walk away.
The lines of exploiting peoples hopes get blurrier when we look at marketing, where marketers over-promise on things that their product or services can do. Even worse are industries like ‘self-development’ or Multi-Level Marketing, where you wonder what planet these people are on, with their delusions of grandeur, ‘being my own boss’ and ‘financial freedom’.
However, in their defense, there is always that success story that succeeded after reading personal development book x or signing up to pyramid scheme y. Also, as a founder who spent the last 3 years playing a game where 99% of businesses fail, am I also in this bracket? Is that 1% (or even 0.1%) chance a good enough reason to try? And what is the worst that can happen if one fails? These are thoughts that are worth considering before labelling those that embark on these ventures or end up in bad situations as crazy, stupid or stubborn.
The murder of George Floyd by police in Minneapolis has shocked many people in a locked-down world. Sadly, for many of us, we’ve become immune to it – a case of “same-old, same-old”.
In a WhatsApp group of black friends, an email from a secondary school – called Alleyn’s – that we used to go to 15 years ago, sparked a debate between us.
My first real experiences of racism happened at Alleyn’s, a private school which at the time was 95% white. Coming from a state primary school which was multicultural, it was a culture shock and a draining experience that affected me for years after.
Though we met some great people during those years, we experienced racism on a shocking level – from teachers, headteachers, headteacher’s children, parents and students. It was part of the DNA of the school and became a bit of a running joke towards the end – that we (the handful of black people in the school) were the ‘glitch in the matrix’.
An article published recently calling on private schools to tackle racial discrimination featured our former school in the main picture. So when I saw an email doing the rounds, with subject heading ‘From the Headmaster: Black Lives Matter‘, my first thoughts were, quite precisely, ‘Bullshit!’.
This email kicked off a debate about the BLM movement and anti-racism – Do organisations believe in it? Are private schools really trying to change the tide on racial discrimination? Is marching and protesting a worthless exercise? What can we do to improve to improve things. Should we look to other communities for inspiration?
After spending time to think about what my views were, I finally responded with the following. Just thought I’d share my notes:
My reply
Transcript:
“Interesting debate.. my opinion is that protests, black economic empowerment, education, conversations.. while they are not the final solution, are all positive steps in the right direction. It’s going to be a ‘brick-by-brick’ approach that will take generations to fix.
The protests have had an effect – I’ve never seen this type of reaction from white ppl and companies. It’s been the perfect storm with COVID, forcing everyone to sit and take notice. Though you have to question people’s motives and true intentions (like Alleyn’s for example), whether they are trying to get good PR, or are just anti-Trump, or have fear of getting Cancelled etc.
Investing in your own community can build up successful black businessmen that people see and can aspire to (like micro-influencers), unlike celebrities like Diddy, KSI or other entertainers. This is a part of the reconditioning – black wealth can influence policy, create better solutions and make people take notice.
Agreed, we’re different to the Asian/pan-Asian communities and must find our own model that works for us. We have different history, different challenges, more receptive to social media etc. That’s why I HATE the term ‘BAME’.
I think we should be ‘experimenting’ more. Forget black excellence, but black experimentation, trying different shit and seeing if it can apply to us at scale. That or an asteroid wipes us out and we start all over again!“
——
*Note: just to be clear – while you should not invest exclusively in black businesses (many are simply not good enough), helping to finance black entrepreneurs (who historically struggle to get funding) can help them go a very long way.
The very last sentence was obviously a joke, but I truly believe in Black Experimentation, whilst attacking problems at different angles using methods that have worked successfully in the past. Thats the only thing this generation can do – make sure they can pass the baton to the next generation – who are creating and will create great change – in a good spot.
I’m happy to share thoughts, share specific ideas and listen to ideas with anyone – jiyeke@gmail.com
A few days ago I read ‘Its About Damn Time : How to Turn Being Underestimated into Your Greatest Advantage’. In this book, Arlan shares her wisdom that she’s picked up on her remarkable journey, from being homeless and on foodstamps – to founding Backstage Capital, a venture capital fund that has invested in over 100 underrepresented founders. She is an African-American and LGBT who has inspired many. These were my Top 3 takeaway messages from the book.
1. Feeding Curiosity
One of the common themes of the book is the idea of curiosity – how Arlan was curious about venture capital while working with artists in the music industry, who were investing in startups.
Her infatuation with business started at a young age when she sold candy to kids in the third grade. Mine started at 12, selling DVDs, Playstation and Sega Dreamcast games (which I got on a ‘discount’) for £10, to rich kids at the private school I went to. My pocket money was £1 a week, so imagine the joy of one sale! Fast forward to today, where I have started businesses and now consulting for a gaming company.
Arlan puts it perfectly herself – ‘there are threads that connect us all, and only by being insatiably curious about others we discover them’. This blog (and the 2020 experiment) is practically about exploring areas of curiosity. Through exploring the 3 areas of curiosity (future of work, tech in developing countries and esports/gaming), streams of new opportunities and connections have opened up, just by joining the dots, looking backwards.
Coincidentally, My interest in angel investing came in 2018 after reading about Arlan in Fast Company magazine. This led to me taking Brad Feld’s Venture Deals course, which led to me meeting contacts who recommended me for a startup accelerator, where I eventually recieved funding and business support. Threads!
Fast Company, October 2018
2. Challenges of a previous life
Some of the themes Arlan talked about brought back memories (many of them painful ones) of the experiences I went through in previous workplaces.
One of the book’s central themes is authenticity – how you should ‘come for the cake and not for the crumbs’. There’s a funny segment in the book where Arlan, at a dinner of high-flyers and millionaires, refused to give up the diet coke on the table that was meant for her, even though the CEO of a big media company wanted that can. She didn’t settle for any less than she was worth – if something wasn’t serving her right, she let it go completely. Sadly, many of us do settle for the crumbs in life.
Imposter syndrome (which Arlan talks about) played a big part during my last role when I worked in oil and gas. Having come from a sales background and done an MSc that did not teach any of the fundamentals of the industry, I entered the industy at 28 as a ‘graduate’. Another black graduate called me an ‘overachiever’ which made my blood boil at the time. Over a 3-year period, I felt a detachment from my place of work, like I had crashed the party.
What followed was no development from a management that only looked after their mates or those of a similar cultural group. Negativity, widespread conscious and unconscious bias and a work atmosphere that would give the local library a run for its money. All within the backdrop of the biggest oil and gas crisis in recent times. ‘Don’t rock the boat’ was the general consensus.
Similar to what Arlan said about not letter anger and disappointment overwhelm you, I decided get creative to channel negatives into positives. I started a social committee at work where people from different departments took part in fun events. It was this experience that was my breakthrough and got me out of my shell that I had retreated to. It led to new conversations, ideas, positivity, work opportunities and eventually my departure from a company that had never worked for me since Day One. The classic piece of advice when leaving a workplace is to not burn your bridges.. I was happy to burn it to ashes, with no job lined up – but on my own terms.
I don’t think we, as a society, quit enough and/or make hold workplaces accountable for creating a poor working culture. I admit that it’s not easy, but I’ll leave that for another post.
‘Dracarys’ (Game of Thrones, HBO)
3. Hustle: Your Edition
The past year has seen a widespread rejection of ‘Hustle Porn’ – the idea that you have to work yourself to the bone, ignoring friends, family and sleeping 2 hours a day to succeed in life. Mental health and wellness has come into the conversation – personalities like Gary Vee have made an effort to reflect this and in the book Arlan pushes back against it too.
People have known this for a while, but what got me thinking was how much everyone (based on what I seen) had jumped on and off that bandwagon at the same time. It’s difficult not to be influenced by others or be a part of ‘groupthink’, but I try and work by my own defintion of ‘hustle’.
Hustle involves periods of relentless work but also times of rest, deep thinking, managing relationships. reflection, erasing outside influences and even walking away from a project; spending time (maybe even years) in the wilderness before getting back in the arena.
Conclusion
Its About Damn Time is a great book which is motivational, has business advice, is autobiographical and relatable to investors and entrepreneurs. These are my favourite type of books as opposed to ones which are dedicated to ones which take 300 pages to get to one core message. Its up there with Akala’s Natives and Charlemagne Tha God’s Black Privelige as one of the more interesting books I’ve read.
JayNotes 