Dun Wuk [Vagrant Life Rule]

This is going to be the lament of some people over the next couple of months. Charley was no exception. He ran a business and tried to do everything by the book and yet was feeling overwhelmed. No matter what he did, he just didn't seem to win. All the obstacles seemed to be stacked against him. What did Charley experience?

• Non paying clients. No matter how much the clients came with an emergency and begged him to do the work; offering at times to pay significantly more than necessary to get the work done. The unified problem was that once the work was done, so what the interest in paying. 
• Excessive taxation. Like PAYE [pay as you earn - based on what you earned], PFWYE [penalized for what you earn - an incremental tax], NYSI [Now you see it - for social security], VAST [ Value Added Still Taxing - computed on the value of the inputs], Property Taxes and Road Taxes; coupled with the recently Environmental tax - yes you pay to be living in a taxing environment. If a calculation was done, we - the working class, would probably get to keep 3 cents of every dollar. Then there's a CESS on gas so that you must cease driving and catch public transportation as you can't afford to drive in an already expensive environment. 
• Policy on how government can raise revenue to do its work is not only based on taxation, but the information used to set these taxes are based on the ridiculous things like what the populous spend their money on - rims, hair extensions, money spent on beautification. There are NO incentives to establish a business. It hardly makes sense to work as an employee since you are basically penalized for working. 

Charley has decided that he dun wuk. [No more working for Charley]; he's going to become a vagrant. Why? 

• There's no tax on begged revenues - standard nor incremental
• Risks are low and rent is free
• Food can be made available if you like what's on the free menus. 
• There's no burden on society since your society changes as you move around
• You don't have to maintain books, since no one thinks you are capable of doing so.
• Through all the changing scenes of life is more than a hymn. It's a way of life. 

So long Charley, and best of luck with your decision!

Too much Stress....will never stop our SUCCESS!

We live in the islands of the Caribbean - a place where people come to relax and recoup.  Yet there's an alarming reality of the people who actually live here.  We're too stressed!

What do I mean?

Let's break it down into groups of people living in the Caribbean. You will realize that though we live here, it can only be classified as an existence; bearing little resemblance to what others envisage as the lifestyles we experience.

There's something about the islands, that people of other lands would classify us as rich. Yet we don't see ourselves that way. Is it that we take too much for granted? Too many of us don't know how to swim. We only know the route to and from work. We don't get to visit our family, and nowadays don't even know the younger and older members of the family.

The islands are expensive. Living in the islands requires money and know how. If you have little money, you better have know how, since these skills are necessary to eke out a livelihood. We have to pay at least twice as much to be on par with those in other countries; and this goes for goods and services.

This constant hustle to survive is taking its toll on island life. Too much time at work, often in sedentary roles, is contributing to the increase in non-communicable diseases - diabetes, hypertension, to name a few. The high costs of living mean that we now have more month than money - a very real situation for many people living in the Caribbean. Apart from working in a job, one often has to have a sideline business - making items for sale, growing food stuff inclusive of livestock, or having a skill such as cutting hair, trimming hedges, making craft, making clothes, and the list can go on.

Despite the sea breezes, the coconut water, the rum, flying fish and other Caribbean goodies - when others come here to work; they quickly realize one thing - We Work Hard for What We Want! Though things are touch economically, we still want to experience what it's like on the side of the wealthy and will work to buy accessories for our cars, hair, bodies, homes and experiences. Life is short and we want the best!

Stress...bring it on. It will never defeat someone from the islands! We are born to succeed! We are winners!

Can you build a team?

Nowadays, it seems that everyone wants to be an entrepreneur. It doesn't help that governments seem to be fuelling this trend in order to justify their employment statistics either. What's happening though is that entrepreneurs don't want to work with others in many instances since they want to be the boss and not be accountable to anyone else. It's a recipe for disaster and failure.

There's a need for accountability, and that doesn't mean giving up control; though it may mean you don't exercise full ownership any longer. Here are some of the common thoughts being touted by many entrepreneurs - in raw unpolished form:

• They want the investors money but not their input; so the investor should put their money in and just disappear until it's near repayment time. 
• Staff don't need to be paid well, their work is not that valuable as running a business. Who gets the headaches at night trying to keep this business afloat?
• Customer better take what we're offering since the research shows they're getting a deal. No one else offers this product/service at this kind of price and value. Is this really how you wish to treat a customer? They may not complain....
• Look we have people who'd figure out the details. Who's the visionary here? That word, visionary, irks me personally. They always want to pull one over on everyone they meet. Personally I seldom wish to deal with anyone who has such a title. 

You get the idea. No one recognizes that to truly succeed you have to work in teams. Though the information's there, very few look to see that the successful entities have learnt the value of team and how to work with the skills and strengths of their various team members. 

No successful entity really does so without understanding the importance of having skill with people. Can you provide the following?

1. Clear direction 
2. Sound communication 
3. Create positive environments 
4. Be helpful without making others feel weak or useless
5. Empower others to utilize their skills and abilities 
6. A solutions oriented environment that solves virtually all problems because of clarity of focus

The list can go on but the message is clear. To succeed you have to be able to build teams. Too many still tout the cliched if you want it done well do it yourself type of thinking. 

The result is stress! 

Can you build teams with accountabilities in place? Are you willing to be accountable as well? If you're willing to learn team building then there are solutions available that will help you in realizing the success that you require. 

Here's what you can do. Read the books for yourself, take a course, hire a professional; all the while understanding that the process will be as quick or slow as you determine. In the realm of your plans, what time do you have realistically? In the scope of things, time can be even more valuable than money; so be careful how you invest your time. 

One thing is certain, whatever your decision, you can determine if you want fragmented dribblings of results or if you wish to really experience that feeling of loving it when a plan comes together. 

Take stock and revamp

When you're doing business for any length of time, it's easy for some things to fall through cracks. What do I mean?

• You deviate from your planned/established procedures
• Damaging behaviours creep in, especially when taken for granted that it's a one off experience 
• Your systems are not really systems, only an ad hoc set of behaviours clumped together 

What do you do?

• You will feel overwhelmed
• You will experience the frustration of not truly making progress 
• Stress levels will increase in all facets of your life - you get the picture 

STOP AND TAKE STOCK

• Examine what you're doing and the results you're getting 
• Identify where changes need to be made; get help if you need to
• Make the changes, and then evaluate to see if they're working 

Here's what you'll find

• You may become more organized achieving more in less time
• Your stress levels will decline
• You will feel more in control of what you're doing and what you wish to achieve 
• Ever so slight, you'll start to experience some successes 
• Stopping and taking stock often enough will even result in your becoming a bigger success than you've ever been

Don't take my word for it. Try it for yourselves. You owe it to yourselves, your family, and your business; whatever it may be. Begin to take steps today to improve the quality of your living. 

Mistakes - Life's greatest teachers

One thing's for certain. If you're in business long enough you will have some challenges. You may encounter professional and personal challenges, but they all affect some of the circumstances within your business.

How are you doing business wise / personally?

Often times we are caught up in the busyness of our business. This activity becomes so routine and automatic that planning goes out the window and oftentimes we feel like we're on the treadmill - lots of activity but not covering any real ground. Progress seems to be in the far distance and success still farther away.

Getting sick is not necessarily a bad thing. It forces you to stop and think. You question yourself about your current lot / place in life. Depending on who you are you'll have various questions that apply to you. After some pondering, you tend to decide on a course of action and take it.

You realize that you knew the answers all along. You just never had the opportunity to stop and address your personal situation as you were always busy taking care of others.

So what can you do so that you don't have to wait until you become sick to do evaluations?

1. Book appointments with yourself
2. Take time to improve your knowledge and skills 
3. Apply what you've learnt to take you closer to your goals. 

You will make mistakes along the way as you alter your actions. Don't be afraid to make them; mistakes are some of the greatest teachers. You'll see that once you take heed to your findings, your business environment will improve and your personal challenges will be eliminated in terms of that particular set of mistakes. 

Organizations with notable contributions to Small Business

In my years of business development, I have come across a number of entities that have given assistance to the development of SMEs over the years. However, I have found that they are some that stand out more than others not only for their assistance, but for their consistency of effort.

In this instance, I will focus on those that are located within the island of Barbados. I would hope that they will take note of this post and endeavor to continue to great work that they have done over the years. To explain the services of each one would result in a post that would probably bore the reader. Therefore, if you have any knowledge of their services or industries that they operate within you will know that they are exemplary in their offerings:

Telecommunications

• LIME - for all their services and packages

 Banking and Finance

• Scotiabank
• First Citizens Bank
• City of Bridgetown Cooperative Credit Union

Technical Assistance and Mentoring

•  The Barbados Investment and Development Corporation [BIDC]
• Caribbean Export
• The Barbados Youth Business Trust 
• The Youth Entrepreneurship Scheme
• Science and Technology

There was a time that a lot of support came from

• The Barbados Coalition of Service Industries [BCSI] 
• Republic Bank 
• CIBC First Caribbean International Bank

Conference and meeting facilities

• The Hilton Barbados
• The Barbados Yacht Club
• The Courtyard by Marriott
• The Accra Beach Hotel 
• The Coffee Bean [more for meetings] 

 Power

• The Barbados Light and Power 

Water

• The Barbados Water Authority 

Permissions

• The Town and Country Planning Office 

Ongoing Education

• The Samuel Jackman Prescod Polytechnic [SJPP]
• The Barbados Community College [BCC] 
• Barbados Institute of Management and Productivity [BIMAP] 
• The University of the West Indies [UWI] 

Incentive creation and positive functional taxation policies that facilitate economic growth

• The Government of Barbados with their Bright, Lucrative, Policies 

We want to take this opportunity to say thank you for your various contributions to SME development within Barbados.You will note that mentioning SMEs does not mean entrepreneurs, but small businesses that drive the tangible sustainability of the economy. Thank you for your outstanding efforts.

Overrating the Entrepreneur

There's a trend - Governments in order to boost their employment figures are turning to the entrepreneur and implementing programs that overlap that lead to an often dead end road where the entrepreneur can't get what they truly need to get their business off the ground at the end of their education - MONEY.

The programs being touted in the media about entrepreneurialism seem to suggest that everyone has what it takes to be an entrepreneur. Nothing could be farther from the truth. Yes there are some great ideas out there in the minds of those that would be great if they can ever get off the ground. These individuals have neither the experience, the connections, nor the financial backing to realize their "dreams".

It is therefore against, this backdrop that this post is being put so here are some things that you need as a prospective entrepreneur to consider:

1. You need to research your business well. Having just an idea without knowing at least how phase one will work isn't enough. Business is not an arena that you can "fly by the seat of your pants". You need to know your business inside out. You have to provide the information necessary to enable your team to make sound decisions. If you need to get aspects researched, then pay to do it. You'll save yourselves lots of time by finding out what you need to know.
2. Your professional team is necessary as they have more experience than you do. You won't go to the doctor and ask for the syringe to administer your medication that you should have no access to, don't expect that your professional team is going to hand over the tools of their trade for you to botch it up - and then blame them. Also while helping you to understand the guidelines of their expertise, they will not train you in their area of professionalism. 
3. FUNDS - Have funds to start your business or GO HOME. Trying to start a business on the back of others using their assets is just not going to cut it. You need to understand that others are not going to have the need in place more investment in your business than you are. Pay your professionals and other service providers well and STOP LOOKING FOR HANDOUTS! We have to pay to access the information that we then provide you with to make important decisions. 
4. Too many "entrepreneurs" want to behave as if they are the bosses of their professional team members. Respect the personal time of your professional team members. Calling them incessantly after hours and on weekends even when paying fees can create a challenge. All professionals need down time to adequately prepare for the next work wave so they can be on top of their game. This is necessary when we ask nicely. 
5. Follow the advice that you're given - sitting in meetings taking up time and then not following through on the outcomes from that meeting, only to turn up again with incomplete tasks is tantamount to Bovine Faeces - wasting time and energy of all involved. 

Following these five (5) suggestions will go a long way in helping you build a strong and profitable business and in this instance is given freely. If you are lacking in these areas and are thinking about entrepreneurship there are agencies to help you get prepared in the areas you are lacking the resources. Go there first! 

Many professionals discuss these areas among themselves, it's time that you also know so that you can adjust your "business practices". Don't become another statistic just because they're overrating the entrepreneur as an employment solution.