Darien Dash is a New Yorker who is a tech entrepreneur. In 1994, he founded DME Interactive Holdings, his first tech company. Today, he is the Managing director of The Movement Management Advisors. Darien tells the story of how he built a successful career in the tech sector and challenges the digital divide. Darien will also share his insights on how entrepreneurs can do the exact same.
From where did The Movement Management Advisors’ idea come?
The company was founded by me in 2015. I wanted to provide strategic advice to my clients using my twenty-years of experience. In the past, I have worked with many clients, including executives, CEOs, entertainers and high-ranking athletes. I was their advisor in the capital market and media, banking, entertainment, and cannabis sectors. This opportunity presented itself to me to expand my knowledge and start a new business.
20 Years is a long time in the tech industry. Can you tell us why you first got started in tech?
It was my senior year at USC. It was during my senior year at USC. I had just finished reading Megatrends. This book predicted that wealth would be passed from the captains of industry to the barons in technology. My cousin and I were working together at the time. We launched Roc-A-Bloc Records, which was very successful. Despite this success, I was drawn to the Megatrends concept and felt compelled by it to continue my career with the records company. After graduating from school, I was appointed marketing and sales director at DMX, Digital Music Express. This was the first cable company to offer a separate set-top box with 30 channels of high-quality CD-quality music 24hrs a day.
Why did you decide to start your own business?
I noticed a flaw in our business model. At that time, I was not permitted to distribute boxes to certain areas due to the demographics. These were predominantly African-American and Hispanic communities. Myths in corporate circles believed that these urban areas would not pay for our service, and that the boxes wouldn’t be returned. But I knew this was a missed opportunity.
After running the numbers, I realized that there was a market worth nearly trillion dollars that wasn’t being tapped. I estimated that the African American market was worth $553billion, while the Hispanic market was worth $490billion. I therefore decided to create my own company, DME Interactive Holdings.
The company was founded with the simple goal of expanding the infrastructure and hardware within minority businesses. Over the years, it has grown. Digital equality is important to me, especially for minorities. I believe that all people should have access to the internet and the latest technology. This belief has been the foundation of my professional development and allowed me to succeed in DME.
Which other services have you expanded into?
We began to develop a variety of services. These included e-business services for small and medium-sized corporations. Additionally, we developed Places of Color, a consumer-based program that provided low-cost internet access through which we could offer affordable PC solutions. We offered access programs that were free or paid in partnership with CompuServe and America Online.
Connecting with consumers was a different concept than it is today. Which sales and marketing strategies helped you grow?
We wanted to be able bring the product directly into the hands of the consumers, so we concentrated on building relationships within the city such as with the government, school board, community-based organisations, associations, and congregations. We targeted organizations that had a direct impact on local households. We also received support from local housing authorities in each market we targeted. Our marketing mix included advertising, direct mail, door to door campaigning and advertising.
We were different from other corporations in the technology sector in that we focused on marketing directly to urban customers.
How did your company get funded?
For the first four years, we were self-funded. Although some family members and friends helped, it was not enough. The income I earned from those contracts was enough to sustain me for many years.
In 1998, I tried to find funding from venture capital companies. However, I was met with a cold reception. One, most investors still didn’t appreciate the urban market. Another reason was that the digital divide, which is the difference in access to telecom technology between minorities and mainstream America, was not widely recognized. While some venture capitalists valued my company at $5 million, I believed it was worth much more. The idea of an IPO was then considered, but it proved too costly. Finally, we met Mason Hill, an investment bank who wanted to make us public. They suggested a reverse merger. They chose Pride Automotive Group to pair us, as they no longer wanted to make their public information. Pride Automotive was a car leasing company, and we had nothing to do. However, we wanted to be able to access their OTC public status. As a result of the merger, we were made publicly traded in 2000.
Tell us more about the digital divide.
My business was inspired by the digital divide. It refers to inequal access and distribution of information and communication technology. It was my experience that it meant that the African-American or Latino communities were unable to access the music I distributed, and then, that they were unable to access the internet.
What are you doing to spread awareness about this concept?
I was actually a part of President Clinton’s 1999 “New Markets” tour, where I spoke out against cyber segregation. Only 4 million African Americans in the US had uninterrupted access to technology, compared with 41 million whites. My goal was to increase awareness and close the digital gap. I was even called to testify before Congress.
Previously, I was also a member of the board for Helping Educate Activate, Volunteer, Empower via The Net (also known as HEAVEN). This non-profit was created to help black teens in New York learn how to use computers. Our original goal was to empower minorities by providing education, training and job placement.
To further our cause, I also partnered with two corporate executives in 2000. To sell computers at low prices and provide free internet access for minorities in New York City and New Jersey, I first partnered with Carly Fiorina (Hewlett-Packard CEO). Ted Leonisis, an American Online executive, was my partner. We launched Places of Color together, a subsidiary of DME. We provided a custom-made and cheaper version of AOL’s CompuServe 2000 software for minorities. We offered content, marketing and advertising while AOL managed the business connections. It offered thirty channels, e mail, instant messaging, chat room, and entertainment via 150 affiliate content providers, such as the National Urban League or the Black Health Network.
In what other ventures are you involved since you founded DME Interactive Holdings.
With the aim of sharing my knowledge and skills with other companies, I have remained focused on the tech industry. My time at DME Interactive Holdings has been spent as the Managing Director of Precient Acquisition Group, Partner with Pentagon Partners, Director at 414 Media Advisors, and as a Director at 414 Media Advisors. Today, I am The Movement Management’s Managing Director.
It can be difficult to build a tech company, especially in today’s competitive market. Despite this, it seems that you have had great success over the years. Which strategy have you found most effective in growing your business?
My greatest asset is time. Each client I have worked for and each company I have advised required a different strategy. This diversity in clientele has taught us that the best ideas grow over time. This understanding has helped me to build my ability and work with clients. Our ideas are the result of an organic, naturally evolving process.
My business has grown because of my focus on the client. The client is the only constant in dealing with the constantly changing world of technology. Understanding the client’s needs is key to success in technology-driven world.
Many of the things you’ve done can be considered charitable. Has it helped your company grow?
As part of my business model, I have always focused on philanthropy. In the past I was focused on helping poor communities by giving computers to schools in inner-city areas. We hope that people will sign up for our service and find it to be a quality service. This was especially true when DME Holdings Interactive was developed. We had to establish a presence in underserved areas. Although I did not believe in digital welfare at the time, I made a promise to increase the infrastructure of hardware and software within minorities. I would do it regardless of what. I was able to make that mission a profitable one.
What are some of the challenges you’ve faced today?
My experience as a tech entrepreneur was filled with failures. These failures have been essential for building success in any industry, whether it is entertainment, sports, or business. Although I’ve heard the word “no” many times, it is important to keep moving forward with thick skin. It is important to believe that you can succeed and not lose heart even if it takes you longer than expected.
My advice to others is to view each failure as a stepstone. If you do this, you will eventually get there.
What specific aspects of your business have contributed to your success?
Yes. Yes. I believe there are some key concepts I have focused on which have allowed me to continue growing and developing my brand in spite of the competition. My first point is that I believe my dedication to creating a workflow has had a positive impact on my productivity as an entrepreneur. Many of the tasks I do on a daily basis are the same for clients. Streamlining these processes has allowed me to spend more time on each client’s individual work.
Second, I monitor my profit and loss statements and balance sheets. This is something I have done from the beginning. Too often, companies grow and people leave the monitoring to others. This can cause major delays in the development of the company and can become a financial burden that can ruin the dreams of tech entrepreneurs.
Are there any last words you would like to share with our audience, especially aspiring entrepreneurs?
Trees can’t grow in the skies. This is a phrase I’ve used over the years as my mantra. It is a saying that you can only grow what you sow, and you should be planting new seeds all the time. Plant a new seed every time you achieve a goal. You won’t see the results you desire if you stop.
