At a post-Budget breakfast this morning, I cringed during question time. Guest of honour, Deputy Finance Minister Nhlanhla Nene, was forthright in his answer to a would-be business owner, explaining how his belief that entrepreneurs are motivated first and foremost by making money. By extracting from the system. What Nene is actually describing is not an entrepreneur at all. He is confusing this noblest of our species with opportunists. Traders. Arbitrageurs. True entrepreneurs are driven by a conviction they can do better. That they can improve on what currently exists. Contributors. Builders. Drivers of progress. Financial gain is a by-product, not an objective. Indeed, were it their priority, very few entrepreneurs would take the seemingly illogical step of leaving the comfort and better financial rewards of corporate jobs. At Biznews.com, we celebrate entrepreneurship. We applaud people like the author of this blog, Paul Dunne. A man clearly driven to apply his innovative ideas to his sector. A man whose efforts would attract the approval ofĀ the inimitable Clayton Christensen, the father of disruption theory. – AHĀ Ā
@alechogg Perhaps the minister had a tenderpreneur in mind š
— Rob van den Heuvel (@Rob_blogging) March 1, 2014
By Paul Dunne*
Going where others fear to tread seems to have become as part of my DNA as the genes that have determined my physical attributes and attitudes.Ā Over the past 24 character building years in the Technology Events sector, I have had my fair share of being instrumental in disrupting markets, driving innovation and even possibly causing a shift in outlook and more than a grey hair or two on those who have been left behind in the ensuing charge into the future.
Right now, with Africa rising, the world is looking to the continent to face forward, leave the past behind and in the process disturb the status quo. Ā This is far easier said than done as my experience with a āsmallā show, called Mobile World Congress showed. But I believe it is vital to do so now more than ever, as Africa as a continent has the fastest growing economy and it needs to go beyond ābusiness as usualā.
One such disruption that is about to make waves and dare I say, upset the apple cart, is YourTechLive ā the first full-value-chain event in Africa.Ā The consumer electronics market in Africa is the fastest growing in the world.Ā Yet, the current product offering is limited with consumers forced to pay a premium when ordering the latest gadgets, often purchasing these desirable objects through international websites, incurring fluctuating foreign exchange rates and excessive delivery charges.
Having spent time talking to large international manufacturers and brands, as well as consumer representatives in South Africa, I am interested and slightly taken aback by the fact that even the press donāt really cover the latest international tech as there is simply no route to market. There are huge manufacturers struggling to reach African audiences who are hungry for their products and no real solution in place to facilitate these channels. I believe Africa is the future and technology has huge potential here, so there has to be a better way to get this market moving. Even if that means taking a leap into the unknown albeit somewhat calculated.
Disruption for the sake of making a noise leads nowhere but innovative and purposeful moves in a new direction that challenge the traditional order of things can prove very beneficial for the entire industry.Ā In the technology sector, Mobile World Congress is probably one of the better known examples of market disruption.Ā Creating new, not following the prevailing trends.Ā In 2007, I made the difficult decision to move the very successful 3GSM World Congress from Cannes to Barcelona and renamed it āThe Mobile World Congressā.Ā The top eight mobile technology companies in the world at the time, were not necessarily welcoming of the idea ā āwhy would you change a successful model, rename it and risk alienating the mobile operator attendance to The Cannes Event?”.
@alechogg and the reason the minister can live the good life, that is paid and supported by the entrepreneur’s hard earned taxes…….
ā Kenny Miles (@Kenny281069) February 28, 2014
The reason for disturbing the peace?Ā There was no tangible brand presence just a ‘property’ in Cannes, Southern France, where the celebrities go for holiday and a little film festival once a year and we had a queue of innovative companies who were going to be the next big thing – Google for example ā who needed something different, fresh and pioneering. I saw the future and wanted the market to realise it so after careful consideration, I moved it to Barcelona and renamed it.Ā The result ā bigger and better and with ever further reaching impact.Ā The 2013 event recorded over 90 000 delegates with an estimated 120 000 expected at the end of February 2014.
Key here was taking the time to do the research and listen to what the end-users wanted and what the market ultimately needed which proved beneficial for the full-value-chain.Ā It has I believe, stood me in good stead.
@louisevanrhyn @alechogg it requires passion, endurance & often being ok with end of the month salty cracks to make it past year 5!
— Breathalyser Guy (@BreathalyserGuy) March 1, 2014
Other successful examples of true market innovation in this sector that I have been exposed to are: AfricaCOM, SoftWorld and BETT – The Worldās Learning Technology Event.Ā Each of these events had to overcome stagnation and business prejudices to be able to evolve into the giants they are today.
But many media providers or event companies donāt track what is happening beyond the ducks in their existing pond, deferring to the current biggest fish in their surrounding sea.Ā Neither do they consult a wide array of their clients to understand where to drive and develop product. In my opinion this exposes the media provider/events company to risk and creates a product that only satisfies a very few companies for a short time before it collapses in on itself – this is essentially chasing the money and when the money goes somewhere else that’s that.
True product innovation in todayās easily accessible information age comes from research, curating and experience. Getting onto the front foot and driving market change. Being bold.Ā Understanding futures, interpreting client feedback and not following the core clients religiously, will produce sustainable product or events.
In the events market for these types of products, shows, exhibitions and conferences have been restricted to the same format and the same brands who showcase their wares or who provide the in-store sales representatives with the better incentives that win the day. To date there has been no real development of the events market itself.
YourTechLive is a new full-value-chain show that seeks to address this.Ā It is a game changer in terms of its layout and approach.Ā The time has come for Africa to innovate and lead in respect of opening up the landscape for new brands to enter the market and existing brands to open their minds and opportunities to new distribution channels.Ā Africa, with its propensity for necessity to drive invention, is also the cure to prevent stagnation.Ā Indeed its growing consumer base demands it.
*Ā Paul Dunne, CEO of YourTech Media is of the opinion that market disruption is the key to stimulating game changing events and economic success for the full value chain.
