Experiences from living remotely

 

Long ago about 8 years before COVID-19 pandemic, I began working remotely. Online meetings, online ordering, just about everything that was available in the virtual world at the time that interests me I would use. Yes, this included software subscriptions that allowed me to better cope within such an environment. In short I utilized and provided services via the online environment. 

Over time, I realized that there are a number of things that are still missing and businesses are stopping short of really using such an asset to their benefit. There is a sort of latency of if it ain't broke don't fix it that has become broadbased in terms of patterns. 

In short, I have realized that many businesses are leaving money on the table and are not realizing their full potential. We have become numb to identifying new opportunities. 

For all the online presence that we are seeking to adopt, we lag terribly in the following areas and this is not an exhausted list. 

• Online ordering and fulfillment
• Banking portals for online transactions 
• Exhanced export conduits to get the goods/services to customers more efficiently
• Access to individuals in business to get clarity/clarification prior to cementing an online transaction 
• Methods of rendering service examples so customers can understand and determine if that's what they truly want

This impacts:

• Property usage, access, and rentals
• Transportation 
• Delivery services 
• The ability and flexibility with which customers can make alterations to orders
• The timeliness of deliveries [most seemed to have settled for next day fulfillment even if orders cam in early in the morning]
• Ongoing research and development to enhance the experiences for the online shopper - evolution and expansion is slow
• The telecommunications conduits have come to a halt. Only the fees for telecommunications are increasing, even as the levels of service decline. It seems that the newer devices have to step down to figure out how to work on old networks. 
• Internet security is lagging behind the market needs and requirements. Hackers still have the upper hand. 
• Integration of the financial institutions to businesses/individuals is lagging
• Not enough businesses are testing their online environments for security breaches
• Not enough businesses are embarking on avenues for growing their business online - seldom are articles written that allow them showcase their goods/services. We are too heavily reliant on ads. 
• Online meeting formats are weak and therefore not allowing for the greatest productivity to take place. 
• Decision making is too slow and cumbersome for the buyers
• There's a sense of this is how it's done within the market and industry standards are fully tested to see if there are opportunities for enhancement

Money at the table on the table that we don't meet

I can go on but I believe by now you've gotten the picture. We need to do better. We need to really examine our value that we bring to the public we serve and look at how our business models need to be tweaked so that we optimize how we conduct business and form relationship linkages within our communities. 

If you're unclear as to how these can work for you. Just contact me and perhaps we may have opportunity to work together for solutions. 

Enjoy your weekend. Make your days ahead as productive as possible. 

Customer service for entrepreneurial entities

 When we are born, we have to learn how to use the various limbs of our body. The ways that we use them would change over time as we grow and become accustomed to how our muscles react.  If we are observant, many of these motions tend to be repetitive. 

Yet, for many of us, our approach to setting up a business is ready, fire, aim. We tend to do so without practice and then wonder where we went wrong. This is particularly noticeable if we're observant as we deal with our internal and external customers. 

It is said that the customer is always right; this is untrue. No one individual is always right. Yet this fallacy is unchallenged by many, even at the corporate level. 

Entrepreneurs need guidance on how to plan their customer interactions. This needs to take place before they even meet their first customer. It is required so that the customer/SME interactions function smoothly. 

How can we encourage and uplift customers so that they enjoy the experience of interacting with our entities? Are there areas that we need to attend? What are the touchpoints? 

Asking and answering the above questions allows entities to respond better to customers' needs, regardless of how they interact with the business. Sit with your advisors today and plan your customer interactions for your business. If you need assistance, just reach out. There are adequate resources available. 

Enjoy your weekend. 

The aging entrepreneur

 

There's something that very few entrepreneurs give thought to as we begin and grow businesses. Many of us believe that we are doing great now, and therefore, our own mortality seldom, if ever, crosses our minds. 

This is compounded by the stresses and strains of running a business. The uncertainty, managing expectations and reputations, ensuring that everyone gets paid on time, and the supply chain work smoothly without hiccups. 

For many, we want to be our own bosses, never working for anyone, but it comes with sacrificing your freedom at least in the early years of your business. Before you know it, you've dedicated years in the business and have nothing to show for your efforts. You have realized that you now move slowly, deliberately thinking of the best way to do so without causing too much pain and discomfort. 

You have become old. 

Ageing is something that we all face to various degrees. Some are graceful, others energetic and youthful. Still, others seem sickly and frail. There's something for everyone. Then we die, and there's no forecasting who will go first when the time comes. 

In the wonder years, we give thought to pensions, living expenses, replacement income, medical bills, discretionary income, investment funds, etc. It seems like we are now scrambling to get things done right. We made choices we wished we had done differently. There are a few exceptions, but this is the narrative of many. 

As a quick sidebar, you begin getting referrals to specialists for various checks. If you're observant, as you sit waiting to be seen by the specialists, you realize that their floors are paved with tiles no smaller than 25". My mind wondered about that, and then when I heard the fee for being seen by the specialist, I understood why the tiles were that size. The quoted fees make you stagger, and they don't want you to fall. 

As an entrepreneur, you can be successful. However, you should consider what went before into your planning. Some professionals can help you plan for these eventualities. Research them and prepare adequately. 

Enjoy your weekend everyone. Until next time. 

Is the personal side of our development hampering SMEs?

 

Life is an experience that everyone goes through at different levels. However, when one zooms out their view, it is recognized that the more things change the more they remain the same. Business is not only comprised of what happens during business hours, but includes what happens on the personal time of the business owner and their team members outside of the said hours. 

At the end of the day, the heartbeat of the business are the individuals who work there. Who provides the information and service so critical to its success. What would be needed to create an atmosphere of support that encourages people to have delightful experiences at work? 

For some, life at home can be hard, and they may not get the appreciation there. 

I remember serving at church, and as we greeted attendees coming to the service, some collapsed and cried when they received a warm greeting from someone who barely knew them and vice versa. 

In his book How to Win Friends and Influence People, Dale Carnegie states that deep down in individuals is the craving to be appreciated. The use of the word craving conveys the level of seriousness that appreciation can play in the lives of others. 

This is not to be done in a manipulative manner. We often call out people when they do things wrong, but when they do things right, we tend to behave as if that's what they are supposed to do and don't provide the accolades that may serve to reinforce positive behaviour. 

In life, our colleagues/workmates will encounter some form of tragedy. Death, divorce, accidents, and robberies are some negatives that come to mind. Others that impact positively also impact our lives and result in changed behaviours. Marriages, birthdays, and promotions, to name a few, also require some changes that others may need help understanding. 

Why would people who would support you in a particular type of business not do so should you leave to begin your own? Can it be some emotion that you would rather not discuss here? 

You have to be perceptive and discerning when you're in business. Keep learning - both formally and informally. There's not everything you need a certificate for, but learning is to fulfil your curiosity. 

Have fun while working. Your work day can take over 1/3 of your life; ensure it is not miserable. With the personal/career aspects of your life in balance. There is nothing to stop you from accelerating towards your goals. 

SMEs - What's stunting their growth

In the Caribbean, most businesses are SMEs. Now that we've got the definition sorted out. Let's look at what's required to assist the business owner in a tangible way that promotes and encourages real growth. 

Many businesses need an accurate idea of what they want to achieve in terms of success. They speak about making money, being their own boss, and being able to make their own decisions; however, they tend to know precious little about how to reach these ideals. 

They tend to be under-resourced in many ways and cannot hire the help they need. Therefore, they stagnate and become another entity that struggles operationally. 

Monthly, they struggle with payroll, bills for supplies, and operational expenses. They make just enough to open the doors another month and are afraid to seek and speak about money. In short, they don't know the rules of money. 

The struggle is so real that they have ad-hoc marketing plans that look good on paper but need more resources to implement them. They become despondent and stressed, impacting other areas of their lives in ways that can be detrimental. 

It has been described that they are red-lining like a vehicle that's over-revving and getting no real power or speed. 

Their needs include operations, finance, and legal. Everything else comes under one of those headings. They may be pointed toward getting help through technical assistance programs like training and research. However, many become so reliant on them that they fail to help themselves, seeming to wait for handouts. It has been observed that they recognize they have a need but are unwilling to invest in themselves. 

Wake up! As a for-profit entity, you cannot and should not expect funds to flow one way, which is towards your business. Not that you are wasteful, but be prepared to take calculated risks and not seem to want someone to constantly buffer your business. Stop expecting free advice! 

We who provide technical assistance often get the requests prefaced by "Can I pick your brain for a moment?" I have learned to say no, that I don't pick your pockets, so others are more readily adopting this approach. 

The other type of client wants a quick fix. This is where they wait until all their options are out and then want to come with an appeal for you to pull a rabbit out of the hat and save their operations.

The money you make through your business is not yours to keep. Remember that. 

Stop the wasteful spending: the doodahs - constant unjustified travel, fancy cars, and the list can go on. Put money aside to reinvest in your business so that you build your equity and not be at the bank's door begging cap in hand for their expensive financing. Pay your taxes - do tax planning, look for legal ways to pay less, and educate yourselves through ongoing programs within your fields. 

See where you can contribute rather than looking to see where you can get all the time. Working with charities is a tangible way to keep in the public domain positively. Decide what programs would interest you and contribute to them. 

Develop insurance and pension plans so that you can facilitate investment opportunities. In short, become an entity that enhances its value as you grow. Get a succession plan so that you know how you get into business and how you will get out.

I hope that something here helps you get your creative juices flowing. Have a wonderful week ahead. 

Hospitality - the business of businesses

 

When you're working in hospitality, there's one sure thing: all your days will be different. The industry comprises various moving parts that make it an excellent teacher. 

Several fields come into play within the hospitality industry to create an experience. E.g. Real estate, function and event planning, food and beverage, reception and front office, accounts, cost controls, maintenance & engineering, laundry, housekeeping services, retail, transportation, activities, gardens and amenities, horticulture, training and development of human capital and the list can go on depending on the property/resources being managed. 

The hours can be long and gruelling. Often, hospitality workers can be the most challenging customers since they know what they have to put up with when the roles are reversed, and they are the service providers. 

So, what does hospitality mean to you? Smiling at the customer? As is so readily touted in so many programs - written and spoken? When seen within the public domain, do we pay attention to operations to ensure that the organization functions as one entity? 

A variety of roles are required within a well-run hospitality organization, and the level of competence is expected. No effort that goes into creating the customers' experience is accidental. You need to be functional in the areas within which you serve. 

In short, every element of activity must bring value to the experience of the guest in a manner that surpasses their expectations - creating value in their minds without the concern necessarily of money they have to/need to spend. 

Let's do better to enhance our services within the hospitality environment.

Some thoughts on trading

 

Living in a small island state permits me to have some observations that go unnoticed in other jurisdictions. This leads me to questions which I have wondered go unanswered annually. In this instance, I turn to trade. 

• How can other countries get their items to the end user more cheaply than those of us that would have shorter supply chains? 
• How would our countries benefit economically should we send back the cargo vessels full of goods produced here rather than letting them go back empty after the importation is completed? 
• How can we more affordably move people and goods across the Caribbean by boats if air travel cost are so prohibitive?
• Why are we so quick to adopt the policies of international jurisdictions that don't seem to follow the dictates that they seek to impose on us for compliance?
• Why are we not utilizing our lands effectively to contribute to our food security? Most base ingredients used across the globe are similar, and the difference is applied to arrive at various dishes. 
• We need to return to agriculture to enable us to feed ourselves and use the money saved in other areas that address our ability to reduce debt, strengthen the health programs within our jurisdictions, and ensure that the foods we receive are more wholesome, bonafide foods rather than having fruit without seeds and other non organic forms. Let's eat for quality experiences not full stomachs. 
• Our chefs should be featuring our locally grown foods rather than all the imported items including imported chefs. 
• With the amount of food businesses, and the fact there is a high failure rate among such establishments, why are there not more food management courses offered to teach locals the business side of food? 
• We need to put access to international markets in place via shipping route development for our exports to really take off. 

There are others but today we stop here. Have a great weekend, ponder what was highlighted earlier. and come up with solutions. We need them as a matter of urgency.