Over the course of my career, I have been lucky enough to build toward 10,000 hours of experience across a number of industries and disciplines including media, technology, geopolitics, and finance. (My first job was as an institutional investment banker at Citigroup.) What has enabled me to almost seamlessly move between these rather differentiated disciplines and industries has been being able to build on best practices across these seemingly unrelated industries. My experiences in the creative fields have consistently powered my technology-driven dreams and visions.
HISTORY REPEATS ITSELF ACROSS THE GLOBE
I can’t remember the first time I heard of Rosario Dawson, but I know that by the 13th time I heard her name, I associated it with great creative performances. When I had the opportunity to actually meet her at an event, I was thoroughly impressed with her and her business partner Abrima Erwiah. Together, they cofounded the fashion house Studio 189.
Studio 189 creates design-forward couture fashion inspired by Ghana and the African diaspora. From them, I learned the power of a unique entry point into a marketplace. That, coupled with their high-end clientele, helped Studio 189 immediately disrupt the runways and shelves in retailers like Bergdorf Goodman. The legacy of colonialism and otherness most African designers and fashion brands face is quickly becoming a thing of the past.
As entrepreneurs envision and work toward building the future, understanding the current market conditions and historical context of the global marketplace can be the difference between being a regional or local brand catering to a limited audience or an international brand challenging the biggest and most established brands across the globe.
BE BOLD — BE AHEAD OF THE CURVE
The invite-only audio app Clubhouse provides another strong example of a unique entry point into a marketplace. In this case, it’s an audio-first approach to community development. Clubhouse has used that unique positioning to grow an international user base that could one day rival the largest social media platforms of the modern era.
The founders of Clubhouse were ahead of the curve on an emerging trend, and they invited other early adopters to join them for the ride. They involved their burgeoning community by asking early adopters to lean into their new concept and become comfortable with using this unique social engagement platform to realize their shared dream of community development and engagement.
LOOK AT CLASSIC HITS FROM A NEW ANGLE
This final example comes from the world of music. The first time I heard the song “Ready or Not” by the Fugees, it was a spiritual and memorable experience. I think the same could be said for the entire “The Score” album, which also includes hip-hop classics like “Killing Me Softly” and “Fu-Gee-La.”
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What made this music from an unheralded band of artists different from their hip-hop and pop contemporaries, and how did it help launch the careers of multi-Grammy winners Jerry Wonda, Wyclef Jean, Lauryn Hill, Pras, and more?
One part of their approach leaned on creative remixes and alternative versions of tracks at a time when that wasn’t a popular approach. This strategy led not only to the success of the Fugees and their affiliated Refugee Camp All-Stars, but it also influenced the discovery and rise of a young all-girl band by the name of Destiny’s Child, with the release of the “No No No” remix.
By identifying a strategic strength and innovative strategy that was unique to them and then leaning in, the Fugees pushed their field forward in ways that have yet to be replicated to this day.
No matter what business you’re in, understanding the current state of the marketplace you are entering and then creating key differentiators by leveraging trends is paramount to executing and actualizing an entrepreneur’s vision.
Kwasi Asare is the Founder of marketing and business development Agency Feedia.