|
|
|
FEATURED ENTREPRENEURS
|
|
By
Tamara Lazier
Find out how Derrick Jenkins, President of Minds Ad Work, turned
the art of networking and helping others into a resource for launching a
very successful advertising business. Read his story as this Savannah State
alumnus shares his leap into entrepreneurship and some valuable lessons he's
learned along the way.
|
"USE Black businesses. If they don't treat you right, tell them what
they need to do to keep and earn your business!! Just network and support each
other. It really goes a long way!"
|
THE
HBCU NETWORK:
Tell us a little about your company?
DERRICK JENKINS:
In 1998, I started Minds Ad Work part-time with my fraternity
brother. Using personal funds, we spent the first six months
setting up the business - getting incorporated, finding customers,
writing a business plan, and promoting the business within the business community.
Today, Minds Ad Work sells marketing, advertising and web-designing services to small and medium-sized companies.
THE
HBCU NETWORK:
When did you manage to finally become a full-time entrepreneur?
DERRICK JENKINS:
I found myself so busy with Minds Ad Work that I realized I couldn't work at
Bank of America as a manager AND run Minds Ad Work and do both effectively. And I
wanted to do this only. I was only a part-time entrepreneur. I really wanted to make it happen.
THE HBCU NETWORK:
Who was your target audience?
DERRICK JENKINS:
It started off as the black buyers we were targeting black buyers
for the companies that wanted to sell to them. After doing research to find out
how much black people spend in Atlanta, we realized theres a lot
of money out there with the black dollar and we knew how to get it. The small,
mid-size companies were our targets and we wanted to help them to get that money.
THE HBCU NETWORK:
Describe a day in the life of "MindsAdWork."
DERRICK JENKINS:
I work out at about 8 or 9. I start my workday at 10. I plan to have all
appointments done by 2pm. By the time I get back to the office I return
phone calls. I've been blessed to not have to prospect because of the
networks I've joined. Referrals just come to me, so I'm mainly making
appointments, going on appointments, and doing the creative work. I set
aside time to come up with creative ad campaigns from about 2-5. Once I do
that, I give it to my graphic designer or copywriter to finish up the job.
THE HBCU NETWORK:
What first planted the entrepreneurial seed?
DERRICK JENKINS:
Actually it was my alma mater, Savannah State. To be honest, it
wasn't until senior year that I seriously considered becoming an
entrepreneur. Certain courses such as marketing, advertising and
an entrepreneurship class peaked my interest.
THE HBCU NETWORK:
Speaking of our alma mater, what are some moments that really stand out?
DERRICK JENKINS:
I was on the baseball team, so one of my best experiences was when
we won the SIAC baseball championship in 1992! Oh, and of course,
pledging Kappa Alpha Psi was definitely an unforgettable experience!
THE HBCU NETWORK:
How do you market to your audience?
DERRICK JENKINS:
The main way I market is through networking and building relationships. Given my industry, we don't do traditional advertising - we
make ourselves available. I'm active in my fraternity, church and
community. I let them know what I do, so that when the time comes and they
have businesses, they come to me. I remain in their eye and presence.
Networking is key to my business.
THE HBCU NETWORK:
You've mentioned that you're active in some organizations. Can you mention some of them?
DERRICK JENKINS:
Of course. As I said I'm an ACTIVE member of Kappa Alpha Psi. I'm a
member of the South DeKalb Business Association, the Salem Baptist Church
Entrepreneur Ministry, the deacon board, and an organization I'm
most proud of the Jabez Network.
THE HBCU NETWORK:
Jabez Network? That's the only organization I'm not familiar with. Do tell!
DERRICK JENKINS:
The purpose of the Jabez Network is to enlarge businesses so that they
can give back to the community. We're there for each other spiritually and
we do many things to help each other. It's more like a family. I'm currently
the Vice Chairman, and in this role I've been responsible for
getting it up and running, managing membership and getting us incorporated. It's done a
lot for me and I see it doing a lot for everyone associated with the network.
It started as a vision of our chairman, Sedrick Dunson. As a salesman, a lot of his peers were already networking or lead groups, and
they encouraged him to join one, as well. The problem was, a lot those
organizations had competing industries within them, kind of defeating the
purpose. The Jabez Network only allows one business per industry into the
group. That way, we can refer one another. If we do that, we can all support one another.
THE HBCU NETWORK: So, how did you come up with the name "Jabez Network?"
DERRICK JENKINS:
It came from reading the book, "The Prayers of Jabez." I was reading
the book at the time and using it as a daily prayer, I thought that was
fitting. A passage in the book reads: "Help me to enlarge my territory."
Well, the Jabez Network is doing just that -- financially and spiritually,
we're here to enlarge each other's territory. I highly recommend
that book for aspiring entrepreneurs. It really opened my eyes.
I also recommend "The Parables of Success" by Johnathan Williams.
It's very similar to "The Prayer of Jabez." Some of the parables
from the Bible relate to a person having and gaining success.
The Alpha chapter of the Jabez Network was founded in Atlanta, but
we have a long list of businesses waiting to join, as well as
several businesses outside metro Atlanta wo are waiting to start
up additional chapters.
THE HBCU NETWORK:
Networking groups are definitely great resources and support
systems for entrepreneurs. What are some challenges you've faced
as an entrepreneur?
DERRICK JENKINS:
The biggest challenges have been some of the people I've dealt with -
either in my company or with vendors. You must pick those people
very wisely. Distinguish between those who are beneficial to you
and those who aren't. Those people can really make or break you.
Sometimes you put a lot of responsibility on others, and if they
don't follow through, you have to answer for them.
THE HBCU NETWORK:
As an emerging business, where do you see your company 5 years from now?
DERRICK JENKINS:
My 5-year plan is to get exposure to a few Fortune 500 companies.
I'm building this business to sell it to a larger agency. I want
to sell it to one of the huge advertising firms based on the strength of our
reputation and clientele. But before I sell it, I plan to purchase a
printing company because some of those resources are outsourced.
Purchasing the printing company will add even more value to my
firm. So, when I do sell, the company will be worth a lot more.
It's a lot of hard work!
THE HBCU NETWORK:
I'm sure it is hard - especially with a wife and a new baby boy.
How do you balance work life and family?
DERRICK JENKINS:
It's extremely difficult! The beginning is really a test and a trial.
You need a supportive spouse or partner to stand by you, because
the work will require a lot of long hours that will take you away
from your family. Family is still first, of course. They're very
understanding about my many appointments and meetings.
I've had to set office hours and stick to those hours. Actually,
I try to incorporate my wife more into my business. If I bring
her into the business, I can spend more time with her.
THE HBCU NETWORK:
I understand that you were a part of a business incubator. Many
aspiring entrepreneurs might be interested to learn more about that.
DERRICK JENKINS:
Definitely! The government funds this program. They are
essentially a support system for small businesses. They give you cheap
rent and lots of resources. There were many business experts on
staff, such as accounting and marketing, and they are there to assist you and
make sure you get all the support you need. They also sponsored
monthly brown-bag info sessions to benefit the tenants.
Of course, there was a lengthy application process and thorough
interview. The process was similar to interviewing for a business loan
- the difference was, I felt they would be there to support me - they cared
about my business. Their purpose to help grow businesses so those businesses could provide jobs to the community.
Oh, they also had graduations, where people outgrew the incubator
and moved to a regular office. I graduated after 10 months! It
was a pretty good experience.
THE HBCU NETWORK:
What has been your most rewarding experience as an entrepreneur?
DERRICK JENKINS:
The most rewarding experience has been developing my clients -
getting them like raw clay, giving them an identity and introducing
them to the world, to their target audience. That's why I still
want small companies in my portfolio. My business is a success when
that business is a success. If they're in the same position after
I've provided my services, then I haven't done my job. It's comparable
to a schoolteacher being proud on their student's graduation day.
THE HBCU NETWORK:
Any other parting words for the HBCU family?
DERRICK JENKINS:
Stay tight and continue to support each other. We just really need to support each other. USE Black businesses. If they don't treat you
right, tell them what they need to do to keep and earn your
business!! Just network and support each other. It really goes a
long way!
|
|
|
|
|
|