New media influence is changing the way businesses and individuals work – Frederik Obasi MWorld INTERVIEWS Frederik is a serial entrepreneur, venture investor and one of the new wave of young Nigerians breaking through boundaries and creating a seat for himself worth millions of dollars in commercial value in sports, media and entertainment. In this exclusive chat with MarketingWorld, he shares on new media influence on today’s business, challenges and many more. What inspired you to become an entrepreneur? Entrepreneurship is a path that came very naturally to me. I come from an entrepreneurial family so I have always been interested in creating ideas and building businesses. How has the journey been so far, considering economic upheavals in this part of the world? The journey has been good. I think the space in this part of the world is quite unique. Yes, there are economic upheavals, but not many companies or organisations are able to provide the services we offer. Our focus on quality over quantity, and building deep and meaningful relationships enables us to thrive despite economic challenges. Colour Me Digital and Hypebuzz have been unprecedented in their deliveries. What accounts for this? My outlook on the industry is different. From inception, my teams and I have focused on following what we truly believe and understand. Our ‘secret sauce’ is that we see value in spaces that are typically undervalued. Usually, everyone wants to be a part of something only when it is big and trending, we just focus on our passions and growing our natural, inborn skills and talents. Fortunately for us, as our business and clients have grown, the industry has become slightly more aware of our deliveries, however we have been following the same path from the beginning when it wasn’t as “cool”. Tell us more about Hypebuzz Creative Fund? The Hypebuzz Creative Fund is an initiative aimed at supporting the creative industry in Nigeria. Each month a budding and deserving creative is provided with a financial incentive of N100,000 to kickstart their career. This fund was born from my passion for creative expression, coupled with my drive to motivate and help young people use their natural talents and abilities to break through boundaries and create a seat for themselves in today’s volatile economy. What is your take on the new media influence on today’s business, especially the integrated marketing landscape? New media influence is changing the way businesses and individuals work in almost every sector. The vast access to the world from just a mobile device means everyone is more connected. Specifically in the marketing space, businesses are more closer to consumers than ever – this creates both opportunities and threats. Opportunities are created for marketers to know more about their customers and build deeper relationships, with more diverse and direct ways to market to them. In the same tone, errors and mistakes spread quicker than ever and a few bad tweets can compromise years of hard work and brand loyalty. Who are those that have influenced your career pathway and in what way? My family have been one of my biggest sources of inspiration and motivation, they have always encouraged me to follow my passion and been a great source of support and mentorship throughout my career. As opposed to a specific person, I have always been inspired by Hip-Hop culture, it encourages people to start with what they have and make the most of it, take risks and not back down from challenges. What would be your advice for budding entrepreneurs especially those considering the media and entertainment line? Working in media and entertainment is often more than a job, it’s a lifestyle. My advice to budding entrepreneurs considering this line of work is to get involved in as many things as possible in and around the industry, build relationships with people and always think about what you can offer. Is there a new turf you are considering in the next few months? No, I’m very much focused on what I am currently doing, getting better and expanding my reach. When you are not so busy what do you do? I love watching sports, listening to music, live shows and travelling. Luckily for me, these are all part of my day-to-day work! Describe yourself in 3 words? Happy. Focused. Fearless.