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Interested in Caribbean culture? Looking to find music from the latest reggae artists? Then check out RealVibez.com, the closest thing you can find to a "Caribbean MTV." This up-and-coming Web site focuses on distributing the latest Caribbean content, as well as creating new revenue streams for Caribbean artists. Its founders, David and Robert Mullings, shared their story at Boston College's Entrepreneur Society meeting last night, pinpointing the ups and downs of entrepreneurship.
Born and raised in Jamaica, David and Robert started college at the age of 15. Going on to complete their MBAs at 21 and 22, respectively, the brothers began to envision the creation of an "integrated media company," capitalizing on the ever-expanding music industry. At first, however, their vision was only that - a vision.
Deciding that using the Internet was the easiest way to take advantage of the technology at hand, they launched a Web site designed to play video music clips. This is where they met their first challenge: raising capital. Advertisers were initially reluctant to deal with their start-up company, and rightfully so. Such a commitment on advertisers' part carries great risk.
After toiling for almost five years trying to raise outside capital, David and Robert embraced a new strategy: networking. Social networking Web sites such as MySpace and Facebook were coming into their own, and the brothers began to link up with members specifically interested in Caribbean music and culture. As building relationships would prove essential to their business' survival, more and more people were learning about RealVibez this way. Business connections were also made through these networking sites.
As word of RealVibez spread, David and Robert began a strategy of advertising called geographic targeting. This means that an advertiser in Miami can place an ad on the front page of their Web site that can only be viewed in the Miami area. At the same time, a New York-based advertiser can place an ad in that same space to only be displayed in that area. In this way, multiple advertisers could pay for the most desirable ad spaces. Finally, advertisers were happy.
A question that David and Robert continually ask themselves is how to use their company to benefit another's, while at the same time benefiting their own. With this at the forefront of their minds, RealVibez began to take off. Instead of focusing on making money, the brothers looked for more creative ways to promote their brand.
For example, they convinced reggae artist Sean Paul to bring them on his tour, without paying for them, as long as RealVibez could be promoted on the tour.
Since then, Sean Paul has helped the two out on numerous occasions, introducing them to other artists, as well as other record companies such as Atlantic Records.
RealVibez has also co-sponsored the largest reggae festival in Jamaica along with Black Entertainment Television. They required no payment, just a chance to promote RealVibez.
As it turns out, building these mutual relationships with other companies can go a long way. David said, "Creativity always wins. Making money isn't the be-all, end-all."
At the end of the session, David and Robert offered some tips for start-up companies. They advised entrepreneurs to use professors as advisors, as they are sure to help with advice as well as connections. They recommended simply getting started and not wasting time planning. Passion, they said, is something invaluable to a business.
"People feel it, sense it, and gravitate toward it," said Robert. Lastly, they stressed the importance of building relationships, closing with, "It's not who you know, as much as it's who knows you." n
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