This time last Fall, he was just beginning his journey into the MBA world, saying his goodbyes to The Red Brick Road advertising agency in the heart of London. A year before that, and he was Head of Planning at DDB India, delivering media strategy for his business clientele.
But after studying at Imperial College London, a consistent figure in UK’s MBA Rankings, Mike was inspired to design and launch his advertising venture, Lumen Research. Entrepreneurs may squawk that you don’t need an MBA to launch a start-up, but there is no way Mike would have done it without one.
Even an established expert in the field of advertisement, at Imperial, Mike was given the confidence boost he needed. Nestled in an environment with some of the brightest business minds in London, entrepreneurial ideas are breeding. “If you have an inclining to do a start-up and study an MBA, you meet people who also are thinking of doing start-ups,” he said.
“Just having a few more examples means it becomes more of a possibility for you. That was important. I don’t think you need an MBA to do a start-up, but it gave me a sense of confidence and that makes me a better person. It normalized the idea of starting a business.”
Lumen Research is at the cutting edge of using eye-tracking technology to improve advertising and website navigation. The company uses technology to monitor viewers’ eyes and find out what aspects of advertisement are most appealing. At Imperial, Mike was able to use their eye-tracking unit to develop his brand. He was surrounded by scientists, Noble Prize winners and entrepreneurs.
It seems Imperial is a hot-bed for tech-focused MBAs. “In hind-sight, the most important reason I studied at Imperial was being able to live with scientists,” he said. “You get to work closely with people who are doing amazing things. They have an eye-tracking unit that is far ahead of the stuff in my business. There are Nobel Prize winners and scientists that look at the world in a different way.
“It’s not skills, it’s a way of thinking; a test and learn approach, an intellectual modesty. That’s something that an MBA teaches you, and what imperial teaches you.”
Mike had a distinguished career in the advertising world with DDP, one of the world’s largest advertising holdings companies. Hired as a Planner back in 2000, he has worked for the company in both London and New York, rising through the ranks to directorship status where he finished in 2011.
After a brief cameo with an advertising agency in London, Mike regards England’s capital as the business hub of Europe. Imperial College London was an easy choice. “Imperial was my first choice, even over London Business School,” he said. “If you want to be in business, London is the most exciting place in Europe and perhaps even in the world.
“London has an astonishing energy which is important because a business degree should be about the real world. Imperial has an amazing entrepreneurship reputation, especially technology, and that was really important to me.”
Mike came up with the idea for Lumen Research while working in advertising for Tesco – a brand UK MBAs will be quite familiar with. The UK’s biggest supermarket chain may have seen profits drop 23.5 per cent in the first half of this fiscal year, but the experience gave Mike the inspiration to build a business himself.
While working for Tesco's advertising agency, Mike asked a user-experience company if they could replicate the same service for advertising. They confirmed it was possible and it was on that basis that his business vision became a reality. He launched back in May with his business partner, Rob Stevens.
The Imperial MBA is hoping to use the UK market to springboard into international waters. Mike regards the UK as the most advanced place for advertising analysis and research, and thinks the market’s leadership in the advertising industry can help him roll the product out to the rest of the world.
The entrepreneurship focus at Imperial will help him make that a reality. “The entrepreneurship courses themselves have helped me,” he said. “There’s a whole compulsory course of entrepreneurship in the Imperial program, and they are very effective in helping you understand what’s possible, and mistakes to avoid. I wouldn’t have started Lumen without an MBA.”
With boffins in abundance at Imperial, for MBAs like Mike whom have a passion for technology, this is the b-school for you. Thanks to an entrepreneurial and tech focus, Mike is using his MBA to launch a start-up in London.
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