This is a new business for me, but I’ve been working on it for more than three years. When you plan to enter any new business, it’s extreme...
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This is a new business for me, but I’ve been working on it for more than three years. When you plan to enter any new business, it’s extremely important to try and understand what drives that industry.
What am I selling to people? In the business of television, our product is content. We need to acquire programming for each of our channels.
The content must be 'compelling' - something worth paying for. Since our platform will be broadcast across 44 African countries, our content must accommodate the rich and diverse interests of this huge African continent.
So, content is our product. Sport is a universal product, but it will not be enough. Sport is also very expensive, because it’s finite.
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| Micheal Jordan |
So, content is our product. Sport is a universal product, but it will not be enough. Sport is also very expensive, because it’s finite.
By this I mean, for example, there’s only one NBA, and the rights can only be held by one player for five years at a time.
We’re now holding a lot of very exciting sport content. The deals we have announced so far are a tiny fraction of what we now hold. I’ll talk later about some of the mind-blowing deals we’ve done on entertainment and educational content.
The insights
I will not launch a business, where there are existing competitors, unless I can identify at least five 'insights'; you might call them "game changers." I must then hold these insights closely to my chest like a good chess player.
If the game intensifies, I must be able to generate at least five more in 'quick fire'. Finding the 'insights' requires hours and hours of continued study and research into an industry. This type of study is like an "immersion” -- you must eat, sleep, think, think, think, learn, learn!
The lessons
The lessons
Know and understand your product: You know there are people who have been running businesses for years who don’t know what product they’re really selling. Surprised? I meet such people all the time.
Sometimes the product you’re selling changes. Actually this happens a lot. You can go out of business if you’re not constantly reviewing what is it that you’re actually selling to people!
Hire the right people: To be honest with you, the thing that excites me the most on this new venture is the quality of people who have joined us. We now have more than 80 people working for us from South Africa, Kenya, Tanzania, Ghana, Nigeria, Zimbabwe and London.
Sometimes the product you’re selling changes. Actually this happens a lot. You can go out of business if you’re not constantly reviewing what is it that you’re actually selling to people!
Hire the right people: To be honest with you, the thing that excites me the most on this new venture is the quality of people who have joined us. We now have more than 80 people working for us from South Africa, Kenya, Tanzania, Ghana, Nigeria, Zimbabwe and London.
I’ve already lost count of the number of nationalities. I expect this number to ratchet up to 200 by August - and it will be over 2000 by the end of the year. - Facebook
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