“A small business is an amazing way to serve and leave an impact on the world you live in.” Nicole Snow
I ended last week’s column with a promise to continue with my thoughts on Small Business approaches, regarding steps that should be taken to achieve success. I feel that most of my readers have agreed that having a Business Coach could go a long way in assisting to chart and execute a hassle-free business start-up, and continued success when the business is fully established. In some cases, the businesspersons may need more than one Business Coach as the business progresses.
Last week, we discussed the importance of Writing, Discussions, and timely Execution of Decisions. Business persons should develop the habit of reading, and seeking out information in their industry. How many of us have revisited our Business Plan since we presented it to the Bankers? I feel that persons seeking to establish businesses should be an integral part of the discussions that will lead to the preparation of the Business Plan. I suspect that many businesspersons do not revisit the Business Plan because they were not involved in the process, and as a result, there is no commitment to work within the framework of the document. This could be a missed opportunity.
Getting into business should never be a hasty decision. It should be well thought out and discussed with as many of your close friends, family, and associates, in the absence of establishing a Master Mind Group. Sharing ideas can save a lot of mistakes and provide important information that can be priceless.
One of the failures in the Small Business Sector in achieving any level of success is the failure of businesspersons in coming together and sharing ideas, and doing business together. There are a few simple things like the joint importation of certain bulk products for retail, and raw, and packaging materials for manufacturing. The slogan unity is strength is known by everyone but very few people are willing to practice it. There is another popular belief that if you have an idea, do not share it with anyone, as someone is likely to take your idea and implement it, taking away your dream. There is the other situation where no one ever opens up his/her business to other persons.
Partnerships are seldom pursued and come to abrupt ending in most cases whenever attempts are made. Something is wrong with the mindset of most small businesspersons. I am certain that there were occasions when you passed a 20/40 foot container that was being discharged and there was more than one importer involved in the consignment. We are yet to understand that there is enough for everyone if we plan our business properly, and make informed decisions regarding the necessary level of investment, and the market size.
The time has come when successful businesspersons should give of their time, and share practical business experiences with members of the Small Business Sector by hosting meetings in the various commercial districts around the island. Last week Vieux Fort was in the spotlight for some good reasons. A Business Club was launched. Members of the Cabinet of Ministers, led by Prime Minister, Honourable Philip J. Pierre held a Town Hall in Vieux Fort. Dr. The Honourable Kenny D. Anthony, Parliamentary Representative for Vieux Fort – South was a gracious host. Something else happened quietly. Members of the inactive Southern Business Association (SBA) were busy in their WhatsApp Chat Room, demanding action from their Executive Members, and the convening of a meeting of the Association at the earliest. I will deal with the real issue in another column if the voices of more than 50 members continue to be ignored.
I was hoping to touch on the gains of the Democrats in the USA in recent days but space does not permit it. I prayed for a breakthrough for President Joe Biden and he now has the wind in his sail. Age is just a number and while his approval rating was sluggish, he is now bursting through the clouds at 41%. The country that we should continue to watch is the United States of America. I promise to take a look at the recent developments next week.
Keep healthy and stay safe. Blessings!
Edward Harris
Freelance Journalist/Realtor/Business Consultant
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