Wednesday, August 22, 2018

The transition from grade to paid

Every year, if you ever get to be near a graduation listening to people speak, there is often the reference to finishing studying and entering/continuing in the world of work. This is often met by the private chuckle of the experienced listener since they know full well; the course of studying is never done.

When you go through the discipline of studying, you must recognize that the courses you study are only a segment of the education. Additional lessons can be derived from learning the techniques of studying since it is going to be required throughout your working life if you are to remain relevant.

There are some things in life to notice when you're out here in the world.

  • Those who have the best grades don't necessarily get the best career opportunities. 
  • The A students work for the C students and the B students work for the government. 
    • I have personally observed this many times over after reading it in the Rich Dad Poor Dad series. Don't be so afraid of being wrong that you lose the opportunity to learn from the experiences. 
  • You will have tough times, but it isn't about you. Often times you will be an inspiration to others, but your experiences will enable you to speak from a standpoint of practicality. 
  • Though your work is difficult enough, there are some people who will deliberately try to make your days more difficult to frustrate you for reasons you can't comprehend. 
Group work within the educational system is supposed to prepare you for working in teams where you have to interact with many others who may not share your value system. The personality traits that you'll see displayed enable you to realize that you're interacting with children in adult bodies. 

In short, to be paid well, you have to excel at what you do. Don't just show up, but execute on what is going to enable the entity you represent as a whole to benefit. Remember, it's not about you. Studying is a lifelong skill. Learn it to really accelerate in life. 

Friday, August 10, 2018

Barbados' 5 considerations in a dynamic business environment

Barbados is in an environment that it never really experienced before. Yes, we have had tough times, but there are some new elements which have become newsworthy which are entirely new to us, and the scale at which they took place the majority of Barbadians have never witnessed before.

The island, like many other jurisdictions, has placed a heavy emphasis on entrepreneurship. For many, the learning curve will be quite steep, since they would have gotten into business based on a skillset. As we have learned over time, having a particular skill set does not equip you for running a business.

Against this background, the rules for being involved in businesses are changing most rapidly with factors that are outside the range of control for those who are in business. What does this mean?

  1. Businesses have to consider more than ever how they can become export ready. 
  2. They have to establish and maintain statutory compliance. 
  3. All businesses must be aware of their environment at micro and macro levels, noting how the actions of people in key roles can impact them in ways they have no control over.
  4. Sources and usage of funds/funding since everything and everyone will be under scrutiny. Know your customers well!
  5. Develop and implement strategies for navigating this environment from marketing, finance and investment, operations, and legal standpoints. 
There is a need to demonstrate a higher level of maturity when operating in business. Those in business advisory roles must step up to the plate upgrading their knowledge, skills, and abilities that would enable their entities to cope. 

Hospitality - the business of businesses

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