Love of poker led to skill in negotiating business deals
Dan Marcus is the CEO of Magnetic Software, a specialist project management software company
What is project management?
Project management can take many forms, depending on the industry. But, in the general sense, it is the practice of planning and executing on a scope of work and ensuring it is done on time and within budget.
For most of our clients, successful project management is the core of their business, driving the difference between profit and loss.
You have developed an app — how does it work?
Magnetic is an all-in-one solution, bringing together all the important functions in a business that gives customers more visibility and, in turn, the ability to be more efficient and profitable. We combine sales, customer relationship management, project and resource management, time-tracking, accounts and human resources in one app.
How does this fit in with the “gig” economy?
In the agency space, the gig economy is the market of freelancers. It is generally made up of individuals who have come from working at or running larger agencies and are freelancing.
Magnetic supports the gig economy by offering an external collaboration feature, allowing agencies, clients and freelancers to work together in a single solution, by providing them with a single workflow management platform.
What do you do each day at work?
As the CEO, my core responsibilities are strategy, sales and culture. As my mentor always says — I am always selling and closing.
How did you end up doing this work?
I am an avid poker player, and I credit my negotiation skills to this. Other than that, I’ve started, failed and sold a number of businesses in which I have always performed a sales role.
Before Magnetic, I headed Living Your Brand, and we founded the IMC Conference — Africa’s largest marketing conference, which was recently sold.
At LYB, I focused mostly on sales, and I gained experience by reading up on various sales techniques and getting on with the job.
I actually started my first company, Sinsation Promotions, at the age of 18, building it up to be a real contender in the industry.
At 25, I created The Poker Room, a corporate team-building venture that offered corporates training in poker and game theory.
It was based on the idea that you can apply the skills you use in poker while doing business, and the skills you use in business can be applied when playing poker.
I then ventured into the world of publishing, establishing luxury lifestyle magazine Live Out Loud in Cape Town, and Living Your Brand flowed naturally from this.
What did you want to be when you were a child?
I was too busy being a kid to think about it. I don’t recall a specific path I wanted to take, all I knew was I wanted to do something great.
What do you find most meaningful about the work you do?
Driving our company culture has become a big focus for me. It was always something I did, but never to this extent. Seeing the shift in mindset and the passion my team has when we drive various culture initiatives makes everything we do more meaningful.
What makes you suited to your work?
I love tech, and I love working with people.