Mackenzie Spencer – Interview with entrepreneurs

Q1 How did you develop a customer-centric approach in your business, and what role has it played in your success?

I believe the best way to develop a customer centric model is to really understand your market and see what the customer is looking for and put yourself in the mind of the customer. You have to think “What would I want if I needed a new solution”.

Analysing the market and understanding what my customer is looking for played a massive role for myself in terms of analysing my industry. Specifically, Blockchain and Web3, as there are a lot of solutions out there, but very scattered solutions, so it’s impossible in developing and redefining what it means to have a consumer centric model, and really giving the customer what they need on a day-to-day basis.

Q2 How do you stay informed about industry trends and emerging technologies to maintain a competitive edge and drive innovation in your business?

One of the things that I do to stay up-to-date with my industry is constantly reading, constantly digesting voluminous amounts of information day in and day out on current trends, new technologies etc. I need to have an understanding as to what is coming, so I could be prepared for it way it before it happens.

This industry specifically is a very fast moving one so if you’re not up-to-date with what’s going on, you will get left behind very very quickly as this is a very big and emerging space but it’s still new so it’s crucial to actually stay up-to-date on what’s going on because that could actually not only help your business grow, but save your business from being obsolete.

Q3 Can you share a pivotal moment or decision in your entrepreneurial journey that significantly influenced your business’s trajectory?

I’ve always been entrepreneurial minded person from as long as I can remember, but it really hit home for me when I was really looking around in the world and seeing how many gaps that I could solve. I have always been a problem solver type of person, so I immediately went and got directed towards entrepreneurship and business because that’s all about creating solutions and providing value which I’m obsessed with.

I always knew I had the talent and the ability to do anything that I wanted, but I really set my sights on business because I have a very analytical logical mind, and I think that’s an advantage when it comes to business, not being emotional and being able to be logical and make hard decisions, even when your emotions are telling you not to make a decision, but in your mind, you know it’s the right one, so I think my skill set kind of naturally gravitated towards this, even though it could’ve been translated to a number of other fields, but I feel like business is kind of the best way for me to showcase my creativity and skills to the world.

Q4 What strategies have you implemented to attract and retain a loyal customer base?

of the strategies that I have used to attract not just customers but also great partners and good people is to be one yourself if you’re a loyal customer to other products, you’re likely going to understand what a loyal customer is looking for, so you almost have to look at it from a reverse perspective where sometimes as the founder or the CEO you get caught up in terms of you know what’s best.

In the mind of the consumer they’re the one that is going to be using your product so you want to make sure that they have the best experience possible and will tell people about your product without you saying anything. I feel that’s the best way to not only retain customers and grow a  customer base but also become an internationally known brand is to have word of mouth spreading all across the world of your product.

Q5 How do you manage risk and uncertainty while pursuing new opportunities and business growth?

The way how I manage risk and uncertainty is is by analyzing my market, analyzing the product and understanding what the rate of success is in this industry and how big is this market going to be. I think when you pursue new opportunities you always wanna look at what the ceiling is and you want to be in an emerging industry that has high growth potential.

Q6 Can you discuss a key lesson you learned from a challenge or setback, and how it has shaped your business strategy moving forward?

One of the lessons that I’ve learned throughout my career is you always want to remain calm, and not shaken if you have a strong mind and you’re not shaken even buy a big setback, you’re primed for success because you are going to have setbacks regardless of what business. It doesn’t matter how complex or simple the business is you’re gonna run into problems so it’s always an edge to have a calm cool and collected mind, and being able to logically approach things and not react emotionally.

Q7 How do you foster a culture of continuous improvement and innovation within your organisation?

I believe the best way to foster a culture of improvement and  innovation in an organisation is to always encourage new ideas and be an organisation where everyone’s opinion is heard. That doesn’t make everyone’s opinion is going to be used, but everyone’s opinion is heard and everyone feels like they have a contribution into the overall big picture of the company. I feel like when you have a company that is idea centric you’re always going to have movers and shakers inside of your business as those people make a business run.

Q8 What is the most valuable piece of advice you have received as an entrepreneur, and how has it impacted your business?