So tell us about the recent “Caribbean Digital Expo”
“Well the Caribbean Digital Expo was a germ of an idea that we’d had for a while, based on a belief that the level of dialogue about digital marketing and business in the region needed to go to another level, and more importantly that there was a real underlying interest in understanding digital in a Caribbean context, among marketers and business leaders.
In late August, ironically consuming digital media late one night while working (watching the live stream of a band launch online) I decided we were going to just go do it. So I started crafting an agenda right then and there at 1am at night, and thinking about my global network and some of the speakers that might be interesting that we could recruit.
In some senses it was a bit of a “don’t try this at home” type initiative, in the sense that we were organizing a major conference featuring over 25 speakers, that ultimately hosted 350 guests in just 3 months. However with a lot of hard work from our small team, and great collaborations with sponsors and service providers alike we were able to deliver an event that was very well attended, for which we got great feedback and that we’re extremely proud of.”
Do you run any other businesses?
“Yes we say that Caribbean Ideas’ north star as a business is that it has to involve digital technology, the Caribbean world at home and abroad, and connection, specifically connecting Caribbean businesses and consumers to each other or to Caribbean-relevant information.
With that as our guide, we’re involved in three business lines.
1) Our core business, is as a major digital marketing solutions provider in the region. We work with a number of big blue-chip brands, both home-grown and multinational, helping them to use digital technology and social media to better reach and engage their customers. Our customers span financial services, energy, consumer packaged goods, entertainment and more.
2) Our second, and newest business as a result of the Caribbean Digital Expo, is that we now consider ourselves to be in the digital education business, helping companies and individuals learn more about digital to take themselves or their organizations further. We’re doing that with the large conference of course, as well as smaller seminars, and most recently, doing intimate workshops and speaking engagements with individual companies / organizations.
3) Last but not least, is that we own and operate a couple of online services, the most well-known of which is called Caribbean Axis Professional, a service designed with the career-oriented Caribbean person in mind, where we feature career-related content, a networking platform a la LinkedIn and we also do career-focused seminars and events.”
What has been the biggest challenge you’ve faced in business?
“It’s been a thrilling ride thus far. I think the biggest challenge has been providing a set of services or solutions to people who are fundamentally new to many of the folks we’re selling to or talking to. Many of the leaders of companies or heads of marketing departments went for long periods of time doing things a certain way. Doing “interruption-marketing”, in traditional media etc. So as a company we had to embrace the challenge of really educating the market, and helping people make the link between the digital platforms and bottom-line business results.
It’s a significant challenge, yet also one we’ve really embraced, and initiatives like the conference were part of our response in helping to educate the market about the possibilities, so that they can see the value in doing the type of things that we excel at as far as digital advertising, building digital destinations (websites, applications), managing social media communities and so on.”
What are your thoughts on the technology business in the Caribbean
“Big question since the Caribbean is at an interesting stage in terms of the adoption of technology and even the way that it’s harnessed or applied. That’s probably one for a longer conversation, however in a nutshell my biggest thought with respect to technology businesses in the Caribbean is that we’re at a Tipping point for the industry and the region as a whole.
Tipping Point: I think we’re at a major tipping point in the region as in one sense, many more people’s eyes have been opened to the possibilities of utilizing and harnessing digital technology and technology in general to become more efficient, productive and generate better return on investment.
I say it’s a tipping point however, because that increased awareness hasn’t necessarily translated yet to major investment. For years technology-focused businesses have been swimming upstream so to speak. While there have long been public pronouncements about the importance of information and communications technology (ICT) and initiatives to drive technology entrepreneurship, if you judge based on results, most of that has failed.
Tech-based businesses have major challenges to get financing because many financiers and governments don’t understand the way to fund these businesses, and they don’t necessarily operate in the most enabling environment. My personal viewpoint of that of course, is that you don’t stand around with your palms up waiting for handouts, you have to go get it done with ingenuity, value-creation and perhaps above all smart selling, but it’s also important to recognize the landscape you’re operating in.
So that’s why we’re at an interesting tipping point. Digital technology-based businesses in the Caribbean have an opportunity now to create really meaningful business and commercial value, whether as solution providers, or by creating products for the world like mobile applications and so on. The key is to recognize that to be great, you have to be global class in your operations, and that it starts with an ability to ultimately deliver value.
Companies like yours, ours and all of the other innovators young and old out there, need to demonstrate the ability to create real commercial value via technology-based solutions, so that the Caribbean world at large grasps the magnitude of the opportunity, and also reaps the benefits”
Who’s your idol?
“I’ve never really had one idol, however as someone who seems himself as an entrepreneur and loves the challenge of thinking of new ideas and translating them to business value, I’ve always taken inspiration from people who excel at a global-class level as I think in today’s world, if you’re not global-class, you’re really not anything.
So some of the folks that I consider to be innovators or blazing a trail for the rest of us to follow are folks like Bill Gates and Richard Branson, both of whose stories / biographies I read and was influenced by years ago. I ended up working at Microsoft HQ after business school, so that was cool in terms of seeing one of those idols a bit closer, though I never met BillG. More recently I’ve looked at folks like the late Steve Jobs, or even one that all Caribbean people are proud of like Usain Bolt, for his ability to be from the Caribbean, but excel against anyone in the world.
In my role models I like to see people who you can really learn from and who strive for excellence. Those are examples of folks who do or have done that.”
So what’s next for Chike Farrell?
“In the medium term I’m really consumed by the challenge of establishing Caribbean Ideas a digital powerhouse in the region. I don’t see us as being wedded to any one business line, as long as we’re satisfying the core focus areas that I mentioned at the start, and creating a viable, profitable business.
The one thing that is a must however, is that the folks that we work with see us ultimately see us as operating at a level that is indistinguishable from companies at the forefront of any area that we invest in.
I want to create a company that people associate with excellence, that attracts the best and brightest, and that really makes a positive impact on the Caribbean at large, not just in business but in the community and developing our human resource.
That’s where I’m focused for the next few years, and then beyond that I’ve got some other ambitions to pursue on the global stage, however everything in its time.”
Where can we find out more about your companies?
“We actually just relaunched our company website, and we’re very active across a range of social media destinations (drinking our own kool-aid as they say). We love to meet new folks and collaborate etc. so folks can find us and interact with us in any of the following places:
Company website:
http://caribbeanideas.com
Facebook:
http://facebook.com/caribbeanideas or http://facebook.com/caribaxispro for our service for career-oriented Caribbean people.
Twitter:
twitter.com/caribbeanideas
twitter.com/CbbnDigitalExpo
and for me personally, twitter.com/chikefarrell ”
