Emerging Entrepreneurs | Kovec Media soaring
In an era where profitability is largely dependent on technological advancement, a 27-year-old 'Soaring Eagle' is constantly trying to leverage his company's resources.
A lover of computing, Mikhail Ramsay, a graduate of the Excelsior High School and a University of Technology (UTech) alumnus, got into his business stride in 2014.
Ramsay told The Gleaner: "The idea hit me during my third year of university while completing my entrepreneurship course. Faced with the reality that a lot of graduates before me were still jobless or had settled into jobs they were overqualified for, it was then I decided that I would start my own company."
He added: "I didn't have much experience other than what I had learnt in entrepreneurship class, so I began to incorporate my friends. We started engaging clients in our final year, which also proved to be difficult with classes. As a result, our growth was slow, but I was determined to continue, and I eventually registered the business in December 2015 upon completing my bachelor's degree in information technology."
Kovec Media specialises in the creation of eye-catching websites, graphic designing, mobile applications for the top application stores (Android and iOS) and creative development such as branding and identity development via logo design, business cards, letterheads, brochures.
A resident of Waltham Park Road, Ramsay acquired the capital to kick-start his venture by undertaking the work and travel programme while enrolled at UTech.
"I was never a fan of loans, so in my final year, I used the funds from the trip to purchase the resources required to start. Thankfully, a business such as this one does not have a lot of overhead cost to begin, and the barrier to entry is lower than other industries."
To maximise profits, Ramsay currently operates from home. He credits his various support systems, from family to friends who either offer encouragement or free marketing by spreading the word or recommending Kovec to clients.
British business magnate Sir Richard Branson serves as Ramsay's greatest business inspiration.
"I love his free-spirited take on entrepreneurship and his leadership style. My favourite quote of his is 'Take care of your employees and they'll take care of your business'."
On the topic of his self-development and feeling derived from his business doings, Ramsay told The Gleaner: "I'm greatly satisfied and joyful knowing that I'm pursuing something I'm extremely passionate about. Knowing that I also assisted in successfully enhancing a client's business through our services, be it growth in their online presence or engagement with their customers is also fulfilling."
A firm supporter of young, business-minded Jamaicans, Ramsay expressed: "In this field, the overheads are small and the barrier to entry is low. However, the amount of work that you need to put in to keep the business up and running is no different from that of a major company in corporate Jamaica."
Seeing the feedback of our clients' websites and the mobile application created for the "Pepsi winning riddim competition" being downloaded by thousands of Jamaicans.
Things to do as an entrepreneur
- Have a clear vision: Don't just bounce all over the place. You must be able to see the entire picture of what you are trying to achieve.
- Make sure you're solving a problem: Don't just create a product or service without a need for it; do your market research.
- Invest in yourself daily: Try to learn something new every day and not just in your field or industry.
- Make use of every opportunity: Master the 'elevator pitch', or the concept of what it is. Also, strive to push your brand further.
- Take risks: Though seems cliche and repetitive, its completely true, you have to be willing to put it all on the line or don't do it at all.
Things not to do as an entrepreneur
- Waste time: Every second counts; especially when you are in a fast paced and ever changing industry.
-Micro manage: If you have a competent team; Allow them to do what they do best while you focus on your task of growing the company.
- Don't forget the basics: make sure to properly lay the ground work, i.e. a sound business plan, marketing strategy, accounting system etc.
- Don't do it for the money: The money will come eventually, ensure that you are passionate and love what you are doing first as that will take you through the dark times.