Tuesday, 19 April 2016

A Success Story

I worked at a bank for a number of years and while working there, I met a man who told me his success story as an entrepreneur. He would come to the bank, dressed in his cleanly pressed shirt, his tie and dress pants and the staff would eagerly rush to their handbags to get money to ensure they got at least one of the product he offered. Everyone knew when he came into the bank, because as soon as he ascended the escalator and arrived on the mezzanine floor, some of the staff would rush to the telephone to buzz their friends on the intercom to announce his arrival. He would travel the eight floors in the elevator to get to as many clients as possible and usually when he came down again, his bags (or should I say briefcases) of goodies would be all gone. I remember the first time I experienced his arrival to my unit as if it was yesterday. The loan officers that were with clients excused themselves, quickly handed me some money and told me how many of his product to purchase for them while they quickly returned to their clients. Even the manager and supervisor of the unit got in on the action, telling me to discretely ask the front-line staff if they needed any before he departed our unit.


When this entrepreneur became accustomed with me after I repeatedly purchased from him and chatted with him every time he came by, I finally asked him how he got into the business he was in. He relayed his story and pulled out newspaper articles which he carried around with him. He was featured in both the Trinidad Guardian newspaper and the Trinidad and Tobago Newsday. Leaving a budding career in the insurance industry, this entrepreneur helped his wife to bake and sell pone, for which he says, they have made a thriving career out of. His story was such a fascinating one that I want to share it with my readers today. He is commonly known as the “Pone Emperor” and can usually be seen walking the streets of Port of Spain, stopping by most business places in the city. If you are travelling to Port of Spain in a maxi taxi on the bus route from east to west after 3 in the afternoon, you may get a glimpse of him. Always very friendly and with a smile on his face he would greet you. To read his story and be inspired, click on the links below. 



A Few Business Ideas

In this blog I want to focus on suggesting a few ideas for those who may be thinking about becoming entrepreneurs. My advice would be to invest in a business which you would love and one that will bring you the type of rewarding satisfaction that every entrepreneur should feel. For example, I invested in a book and stationery store because I love reading, writing and I am fascinated with most genre of literature. You can decide which type of business is suitable for your taste by first looking at the different types of business entities operated in your country and doing some research about what have made some of the business owners successful. Most business owners are happy to talk about how they began trading as well as give advice to budding entrepreneurs. Remember all new business will have teething problems, however with dedication, hard work and persistence you can successfully establish and run a business.

The following business ideas can be started from home and should not take much in start-up cost:
1. Babysitting service – parents in most communities is always looking for reliable, responsible babysitters. This business requires no start-up cost, and you can set your working hours.
2. A Gift Basket Creation Initiative – for this type of business you will definitely need some start-up capital. You can create different types of gift baskets with items such as fruits, cookies (which you can bake at home), chocolates, candies/snacks, toiletries, wines, different type of nuts, soap etc.
3. Thrift Shop – you can designate a room in your home as your thrift shop and invest in some career apparel that have some minor stitching defects which can be obtained from Janouras Custom Design Limited or other design shops. If you can sew you can sew your own career apparel as well as designer curtains, throw pillows etc. and sell them in your thrift shop. Additionally you can invest in dinner ware, costume jewellery, and other items to have a variety of stuff for selling in your very own thrift shop.
4. Food Service Caterer – you can prepare food from your home and sell to office workers. The challenge with this business is to get your first set of clients. However, as soon as you do and the word spreads you will be well on your way to a successful business, especially if you love cooking and have a ‘sweet hand’. You will need a good working vehicle to deliver the lunches to the offices.
5. A lessons teacher or homework centre – you can either choose to give lessons students or to assist them in doing their homework for a cost. Many working parents will pay well to have their children get help with their lessons.

I hope these ideas inspire a budding entrepreneur to take the challenge and be well on your way to owning your own successful business.


Thursday, 7 April 2016

The Client

Attracting clients and keeping them interested in your products or services determines the success of any business. Even if that client is a friend or family member, if you, the entrepreneur do not endeavor to be professional and treat your business as a profession, then your clients won't take you seriously.

The old adage "the customer is always right" should be the mantra of every entrepreneur. If this is always kept at the forefront of an entrepreneur's mind he/she will see positive results for his/her business. The fact that, if a client is pleased, he will return should also be considered. Additionally, the entrepreneur should remember that a please client will do some free advertising for him. I believe ever entrepreneur have experienced instances when one of his friends or family members have bought and endorsed a product that he was pleased with or received good services and boasted about it. Client endorsements have a ripple effect and clients can either ‘make’ or ‘break’ an entrepreneur’s business.

Helpful tips to keep clients attracted to your business are:
1.      Even after the sale has been made, keep in contact with your clients. This includes clients that have experienced any problem with your business. Resolve the issue quickly and maintain cordial relationships.
2.     Always pay attention to your clients’ needs. Show them you care about them.
3.     Always speak to your clients politely, take a genuine interest them and always keep them satisfied with your service.


Wednesday, 30 March 2016

A Picture Paints a Thousand Words

Hi everyone! Here are a few pictures of the shelves I had built and some of the stationery I started selling the first time. My son claimed one of the shelf for his figurines and video games. He said I had enough left for my supplies. If only he knew how correct he was because I had minimal supplies to start off with, but a start none the less which I was proud of. I also had my fax machine and my printer and laptop so I was set to go.















Friday, 18 March 2016

Finding a location for my business

Having funded my project it was now time to 'set up shop'. I did not have the required amount of money to rent a physical space and as I had a daytime job which required my attention, I decided to dedicate a room in my home for my business office. This allowed me to work comfortably when I was away from my day job on weekends and some evenings.

I had a few bookshelves installed in the room to store the products I would purchase. I got the bookshelves built for an excellent price from a young man in my community and even though I wanted an office desk I could not afford one at the time. I decided therefore, to use my computer desk for my workspace in the interim. My home office was looking good and I felt proud.

When starting a new business there would always be challenges, but having a positive outlook along with supportive family members and friends help tremendously. I was fortunate to have that and to also have a friend who was a seasoned entrepreneur. He gave me some very valuable advice that encouraged me to keep at it despite the challenges. 

When it was time to order the products I wanted to sell, I went to John Dickinson at Factory Road in Diego Martin and with my business account already opened there, I placed an order and wrote out a cheque for the cost of the items ordered. Writing out that cheque felt awesome. Little old me had a business account and was writing out a cheque for items purchased on a company's cheque, 'my company'. I felt so privileged. When I got home, I spread the items on my bed and looked at them for hours before I could arrange them in my workspace.

The following day I started selling. I had previously told a few friends about the products I would be selling and so to support me they bought a few items. The pens and pencils I had were quickly bought by students at the school I taught at in Belmont. I had asked permission from the Principal to sell to the students and she said yes. That same week I reordered some additional pens and pencils. I was also able to sell some stationery items to the school's administrative staff. They already had a supplier that they were loyal to but they decided to give me some sales as well. I also was able to sell to fellow teachers. Sales is an area that can be challenging yet rewarding. Budding entrepreneurs be mindful to always stay positive. The experiences you get as you try to market and sell your products or services, let those guide you as to how to improve in your strategy and style. Stay focused and positive.

Saturday, 12 March 2016

Project Funding

Hello everyone.I have put together two video clips on how I financed my business project. Do enjoy and feel free to comment.




Friday, 11 March 2016