I make use of a PowerList. This is basically a list of five key items that I must perform for the day. These items must be something that will lead to growth. If I don’t do all five of the tasks set out for myself then I “lose” the day.
Vincit-Lee Lloyd started his entrepreneurial journey when he was 20 years old by launching DopeNotes, an online platform where students at his university can buy notes. Two years later, he used the revenue generated to launch his own social media agency – Lloyd Media Solutions. He studied Management Sciences at Stellenbosch University where he majored in both Logistics Management and Entrepreneurship & Innovation. As someone who reads a book a week, he implores others to take up the admirable pastime simply for the pleasure of increasing one’s knowledge. A Stoic at heart, he believes that by running a successful business he will bring value to the lives of others and thus live a virtuous life.
Where did the idea for Lloyd Media Solutions come from?
The idea for starting a social media agency came from noticing that a lot of the small businesses in Cape Town do not make use of social media at all. Some may have a Facebook page, but they only post on it once every three months. The idea of leveraging social media to generate more revenue is not fully utilised by the micro- to small businesses in Cape Town and that leaves a huge opportunity for agencies willing to work with the “small guy”.
What does your typical day look like and how do you make it productive?
Typically, I wake up at 5am and then read for about 30 minutes to an hour. After that I start getting to work on my clients’ Instagram profiles by commenting on pictures and growing their online communities. I also make sure all posts are scheduled for the day and analyse those posts that have been posted to see how they are performing. At around 11am, I head to the gym for about an hour.
The afternoon is mainly for content creation and business development such as marketing my own business, setting up meetings, etc.
In the evening, I reflect on what has happened during the day and plan the following day.
As to how I make my days productive, I make use of a PowerList. This is basically a list of five key items that I must perform for the day. These items must be something that will lead to growth – so it cannot be like “Brush my teeth” but rather it is more like “Contact 90 people on Instagram Direct Message”. For the PowerList, if I don’t do all five of the tasks set out for myself then I “lose” the day. Note that I said do ALL five of the tasks, so if I only do four out of the five then I still lose. It has to be five out of five to be counted as a “win”. I am extremely competitive so losing isn’t really an option for me,
How do you bring ideas to life?
I really believe that ideas mean nothing. It’s all in the execution. Apart from being highly competitive, I am also practical. Meaning that I can’t let an idea pop into my head without physically doing something about it. Usually I would first write the idea down on paper and then try to write pros and cons down about it. If it still checks out, I would call in an acquaintance (someone not too close to me, so no family members) to evaluate – if it still seems viable then I will establish a “due date” for when I would like it implemented. I will then also establish a date by when I want to start seeing a return from the idea.
What’s one trend that excites you?
Blockchain and the move towards Voice for social media such as Alexa Skills.
What is one habit of yours that makes you more productive as an entrepreneur?
The PowerList described in the previous question.
What advice would you give your younger self?
Practice aggressive patience. You need to find the right balance. On the one hand, you need to be extremely aggressive in your marketing by making those calls and sending those messages. But on the other hand, you have to be patient enough to let the market see if you’re bringing enough value.
Tell us something that’s true that almost nobody agrees with you on.
Always give out information for free. People around tend to go crazy with the amount of information or tips I give away for free on social media. Yes, I could make double the amount of money I am currently making by monetising the information however I am in it for the long run. The information I give away for free now will lead to 10x the amount of money in the long run.
As an entrepreneur, what is the one thing you do over and over and recommend everyone else do?
The PowerList! Honestly it taught me self-discipline and how daily tasks done over and over again can lead to massive results over the years.
What is one strategy that has helped you grow your business?
Instagram Search Marketing. This is basically when you search a hashtag or location that has to do with your business. The top nine posts will pop up first. For these posts, you will like and provide as much value as possible in the comment section. Done right, these people who posted the picture will check out your profile. If there are Call-to-Actions (CTAs) in your profile, then they could turn into leads.
What is one failure you had as an entrepreneur, and how did you overcome it?
Being impatient. I guess it has to be with me being early in my twenties but I tell myself daily that I am in this for the long game and that quick cash never lasts. I am nowhere near “overcoming” it but I am definitely working towards it.
What is one business idea that you’re willing to give away to our readers?
Strangely enough, cutting champagne bottles in half and turning them into “luxury” candles seems unexploited. You can pick up the empty bottles at clubs or restaurants for free or next to nothing, and all you really need to buy is wax and perhaps a machine for cutting.
What is the best $100 you recently spent? What and why?
Facebook ads targeting underpriced demographics in sub-Saharan Africa. Extreme value for money in targeting in this area, if it is done right. It opens the door for a strong foothold into the area if a company is not here already.
What is one piece of software or a web service that helps you be productive? How do you use it?
Later.com for scheduling posts on social media. Helps free up a lot of time that would’ve otherwise been used to physically upload content onto the different social sites.
What is the one book that you recommend our community should read and why?
“Meditations” by Marcus Aurelius. The Stoic way of thinking really puts things into perspective, especially in the business world. It also makes dealing with all sorts of characters a whole lot easier.
What is your favorite quote?
“Waste no more time arguing what a good man should be. Be one.” – Marcus Aurelius
• Boost your productivity by coming up with a PowerList
• A trait all young entrepreneurs should learn is aggressive patience
• Execution trumps ideas