Starting a business is a big achievement for many entrepreneurs, but maintaining one is the larger challenge. There are many standard challenges that face every business whether they are large or small. It is not easy running a company, especially in a fast-paced, ever-changing business world. Technology advances, new hiring strategies, and now, political changes coming with the new administration, all add to the existing business challenges that entrepreneurs, business owners, and executives have to deal with.
Maximizing profits, minimizing expenses and finding talented staff to keep things moving seem to be top challenges for both SMBs and large corporations. We have been interviewing companies from around the world to discover what challenges they are facing in their businesses. We also asked each company to share business advice they would give to a younger version of themselves.
Below is our interview with Netta Dobbins, Co-Founder and CEO at Minorities in Media Connect:
What does your company do?
Minorities in Media Connect (Mimconnect) is a platform dedicated to increasing minority representation in the media industry. We work with media companies and media departments to promote their job openings to our nationwide audience, curate professional events online and offline that allow employers to interact with job candidates, and offer resources that assist with the professional development of our members.
What is your role? What do you enjoy most about your role?
I'm the Co-Founder and CEO of Minorities in Media Connect (Mimconnect). The greatest thing about Mimconnect is our ability to authentically connect professionals of color across the nation and expose them to opportunities they wouldn't have had access to prior. Our community has organically grown over the past year and we've witnessed so many success stories. Some of our community members have had the opportunity to move across the country for a job. They've been able to build valuable networks that allowed them to successfully launch their side projects and become full-time consultants or entrepreneurs. Knowing that what we're building is actually beneficial to so many people allows us to continually strive for more.
What are the biggest challenges in your business right now?
Our biggest challenge was clearly defining what Mimconnect was. Mimconnect initially started as a group chat for people of color to connect with each other and we witnessed an extreme amount of organic growth in only a couple of weeks of the chat being formed. With that growth came a lot of different requests from our audience on how we can help them professionally.
With the number of requests we received, we saw that there was a need for our product and we had to take a step back and delineate on what our product was, how was it going to help people, and why there was a need for it. We spent the majority of 2017 really defining our business model, testing what works, and eliminating what didn’t. Now that that’s done, our next challenge is securing seed funding!
If you could go back in time, what business advice would you give to a younger version of yourself?
What you create isn't for you. It's for your clients and customers. You talk to them and listen to what they're saying when building your product. You could have an entirely different vision of your product in your head, but your consumers will ultimately be the ones telling you what works and doesn't. The more you listen to them, the better your product will be.