More wants than money...

 When you think about it, as we go through life and we take the opportunity to pause for a while, we would recognize that we have more wants than we have money. Why is that? 

During the COVID-19 pandemic, I made the observation that Maslow's Hierarchy of Needs stood the test of the environment. For the first time in my personal history, I was actually able to see people, myself included, relate to this pyramid as the lock down took place. We were content to functioning at the level of our basic needs. 

People had cheques that were totally useless since the banks we not accepting them; and that is when they were open. For the most part, as a people, we became creative in our survival. We noticed the laws of living and their consequences/benefits. Maybe, for the first time in the lives of many, we stopped to pay attention to how our lives were impacted, and really gave thought to our circumstances. 

To put in a nutshell what the news said, the challenges faced at the most basic physiological level of needs cause many to have experiences at the safety level that no human wants to experience. 

In an effort to regain a sense of "normal", governments the world over sought to integrate practices that would enable people to regain some of their lost footing in life as it relates to the attending of their psychological needs. 

Was it too fast, where we are seeking to build on an already weak foundation as it related to the fulfillment of the basic needs of people? Only time would tell. There is mixed opinions about that process with even the arguments being put forward to the crisis of the pandemic was for a disease that isn't real. The behaviors of many speak to their coping mechanisms that they have. It provides a more clear insight as to what some people may have had to experience when they were locked off from the rest of the world and having to deal with the train of thought some people had. Their experiences could have been no less than horrible. 

One thing that is being slowly realized; normal has changed, whether we want to acknowledge it or not. 

This post COVID-19 environment is going to really test our ability to be our brother's keeper. It is going to let us see the harsh reality that as a people we are going to have more wants than money.  

Do you know your reputation?

 We are all known for something. However in many instances, it would appear that we ourselves may be unaware of the reputation we carry. It may be due to many of us not paying attention to ourselves and what we portray. 

We often have opinions of others based on our interaction with them. Yet, we don't seem to be always aware of what others think of us, and often in the cases when we do, we are often wrong in our determinations. 

It's time to become conscious of who we are and whose we are. What are the standards we have developed and inculcated over the years of our existence? 

In 2020, we were forced to stop at times and reflect on our lives, our environment and the situations we faced. We reflected on the lives of those who passed away and the impact that it had on us. I wondered, if they were ever heard/were told any of the things we hear of them when the tributes came in. As a friend of mine, long gone from this life said to me when I was growing up; "were they alive to smell the roses". 

Many of us will receive bouquets when we die, but does it mean that we haven't truly lived if we never received a bouquet while we are alive? When we do, how do we take in the moment and crystalize the experience in our psyche?

Do people know us in a lopsided manner? Only by our work, our family lives, our church personas? How many of us can say that we are known totally by anyone where those who know us can truly speak of our character? 

We compartmentalize so much that many of us can be Saints-on-Sunday and Sinners-the-rest-of-the-time. 

Sometimes, we as a people lament that we are not appreciated by others. Yet, have we take the opportunity to appreciate ourselves for just who we are? 

We don't seem to be learning! Just recently there was a gun battle between youth, who aren't even old enough to have experienced life in its fullest; yet they were so willing to take the life of another. In the media, as someone who impacted us significantly in one way or another move on, we only then take the time to appreciate them after they've gone. 

Let's live life on new terms:

• Become a greater supporter of our fellow man;
• Exceed the expectations of others in your service to others;
• Recognize it's not the big things that seem to be in the spotlight that mean the most, but those seemingly insignificantly things that may seem to go unnoticed that make the biggest differences; 
• Love unconditionally; 
• Do things "Just-because". E.g. we sometimes get together for family celebrations, just because, we can. It doesn't have to be commemorating anything other than the freedom of life to commune and share with each other. There's so much that can be learned about each other just by sharing a meal. The generation gap is bridged, family values are shared, we get to value others as we share a kind word/moment. 

Start today to determine and shape the reputation that you want to have. Yes, you'll make mistakes along the way; it's part of the process. Get to know, who you are and whose you are; and live! 

Using your mobile technology to build your business

Businesses are becoming smaller in size, and hopefully with some planning, they can become more nimble within their environments. Many have been displaced within recent time and with their resources being limited, they need to have ways that they can get up to speed quickly. How can they do this, and do it well? This time, more than any, is when consideration needs to be given to the acquisition and use of mobile technology. 

The presence of so many different types of mobile technology in the market place gives rise to a diverse set up applications for a significant number of business opportunities. 

Many businesses are now functioning semi-remotely. Despite resources being scarce, there are mobile tech hardware and software that can help businesses gain traction within their chosen markets. There's literally no excuse not to function competently. 

Here's why:

• Smartphones can cost more than laptops/desktops and are versatile in their applications and dexterity of  functioning while the businessman/woman is on the move. 
• There are paid and free apps that enable the businesses to do the work of entire offices while on the go; and the available platforms support this process. 
• Delegation is easy and reliable. 
• Collaboration is easy, reliable and functional.
• Response rate is almost instantaneous. 
• Document management was also mobile complete with the virtual filing system(s). This is largely due to the memory capacity on most devices. 
• Backup systems are in the cloud making it absolutely difficult to lose information. 

Now that you are aware you have the technology. Here are some things that you need to be aware of:

• Changing devices is easy as information updates are instantaneous when you log in with you profile credentials. 
• Backups/Restoration is easy and reliable. 
• Your contacts are readily at hand should you need to make contact with them. 
• You can process invoices, refunds and track your bookkeeping activity directly from your mobile devices. 
• There are endless security services to protect your data. 
• You can easily manage your devices from your administrative panels and the information they can access. 
• You can see your schedule at a glance. 
• There is seamless integration between devices which means you can continue working even on the move. 
• There is talk to type technology so that you don't break stride with your productivity. 
• You can access movies and music should you need to gear back for a break. 
• There are a plethora of courses, workshops, and webinars to keep you in the know as you seek out more knowledge. 

No excuses are available any longer. Use your preferred mobile technology and get busy on building and developing your future and safeguarding your livelihood and that of those you care about. 

Check our website bladesandbladesconsultancy.com for continued posts and updates. Hope this helps move you in the direction of your most dominant thoughts of success. 

Mobile Phone Usage for Business

When considering business and the use of telecommunications, one thing that is being used increasingly is the mobile phone. Some people are competent in the use of their devices; for the most part, many aren't. 

When observing how people use their mobile phones, it oftentimes makes me wonder if they have given consideration as to the use of their device. Some people use their phones as unpaid comedians to forward jokes. Others send graphics that do not, shall we say, coincide with their branding. Some people are just seemingly lawless and will waste your data plans without any regard for the fact that they are costing you money needlessly. 

Here are some scenarios that mobile phone users tend to engage in:

• They call you and ask you to call them back since their credit is about to run out. Really? Who wants to make contact with whom? 
• WhatsApp calls for business reasons. The call quality is choppy in many instances and does not make for high-quality interaction that at least seems professional. 
• Then, they are those with the prepaid phones that run out in the midst of a conversation. Guess what, postpaid is always the cheaper option. Don't be afraid of the commitment. 
• The sending of non-business related graphics also ranks high on the list of not to-dos. 
• Purchasing mobile phones that cost more than a computer and then not possessing the ability to use the features is more than a little off-putting. I liken it to purchasing the Mercedes with its high powered engine and speed abilities; only to drive it at 25 kph on the highway. 

If used well, mobile phones can be a game-changer for business people. Here are some examples:

• Small businesses and mobile phones 
• Small businesses and mobile data 

When you consider your business planning, examine if you're using your mobile technology optimally.  You just may be surprised at how much you can save, but more importantly how your earnings can be enhanced if you use the technology properly. 

Business Fundamentals - post-COVID-19

Barbados like other countries around the globe has been impacted by the pandemic of the COVID-19 in a way that has left many staggering. SMEs who already had little to no financial backup resources, as well as, individuals who have been displaced from their jobs have found themselves in unfamiliar ground; especially since most of us are not old enough to have experienced something like this before. 

Beginning next week. my colleagues and I will be sharing with the public what they can do to overcome the challenges they've experienced businesswise with this pandemic. The sessions are free to the public as indicated in the information following which also contains how you may register. 

We look forward to your participation. Come and get practical insights that you can implement almost immediately to realize results. 

Additionally, we anticipate that industry partners will be a part of this so that you know who to make contact with immediately as you complete the program. You can attend the entire program or the segments that you are most interested in. Learn where you can turn to for your HR needs, possible financing, and other incentives that your business can surely benefit from at this time. See you on Tuesday and please come early. We begin promptly at 10:00 so it's great to be at least 10 minutes early. 

Don't worry about handouts and making notes. We have developed a website where all your course material will be stored and is accessible by any device you have which can connect to the internet. Yes, you'll even have our presentations to take with you when you go. Thank you for the opportunity to serve Barbados! 

Businesses need multiple resources in the same category

Increasingly, there's going to be a need for businesses to work more in clusters. This is even more so since the pandemic crisis. This raises a few questions though in the minds of seemingly successful entities that others will seek to work with:

1. Can we deliver working with the members of this team?
2. How fast can we make shifts to protect, secure and enhance our reputations?
3. What are our legal obligations should we have to make pivotal changes? 
4. How can we ensure the end-user does not waste their investment in using our services? 

We have all been on teams where team members want to share in the rewards but offer as little effort as possible towards the final outcome. Dealing with this type of individual can be quite challenging; especially when seeking to meet and exceed the needs of the client. 

Every time you work your reputation is on the line. Are you reliable? Is your work of a high quality/calibre? Will you work have the impact that encourages others to speak positively of it so that you get referrals as a result of your more recent efforts? 

Legally we should meet all the obligations of our contracts which we would have been a part of the negotiation process. It is necessary that all team members operate with honour in fulfilling their elements of the work. 

The circumstances are even more demanding of accountability regarding money spent. Items once deemed miscellaneous will now have closer attention paid to them. Greater care will be taken when considering expenses and assets expenditure. 

So who's on your team? 

Are they interconnected so that they work as one? Are your accountabilities on point? These are questions that you must ask and answer to ensure that you have the necessary fail/safe's in place. When you really examine your operation, you too will realize why it is important for businesses to have multiple resources in the same category. 

Foreign Direct Investment [FDI] - How practical and accessible is it?

For most who have become frustrated with the available local funding options for one reason or another, there are some who have decided to explore other options. This comes against the backdrop of governments suggesting urging business owners to expand outside of our jurisdictions, export more and seek to expand. 

Foreign Direct Investment (FDI) is often discussed and seems to be seldom understood, even by those within the financial sector. It would appear that the various entities responsible for overseeing these types of transactions seem to be more than apprehensive about such transactions. What do I mean? 

The organizations:

• Don't seem to trust the source of funds and don't really seem to be able to assist in the provision of due diligence/even be able to advise on the process of due diligence that is available. There seems to be a fear of making a mistake permeating the various entities. 
• The entities that are in authority of such transactions don't seem to relate to each other. Why do I say that? Their information isn't synchronized and at times can seem to be conflicting. The organizations don't appear to even have a relationship with each other. This comment is made from the outside looking in. 
• There is no clear methodology to advise the public how to go about seeking and attracting FDI. So that even when entities successfully attract such interests, there's always a catch 22 that frustrates the process. 

Is FDI worth it? 

It seems to be more of a hassle than anything else. Why one has to go through a number of compliance steps in order to become compliant which usually is expensive, only to be told that there's an absurd aspect that prohibits the deal from being completed. This can even happen after getting authorisation from the Central Bank, meeting previous compliance standards, being legally compliant, then you get snagged on a technicality that could have been prohibited if you had the necessary guidance from the outset. It's a hard lesson to learn. 

In many cases, investors ask how come the banks are not jumping at these deals locally. They then decide to fund the transaction(s) completely [100% funding]. With seeming low-interest rates; until the payback is calculated in full. Then you see the hidden elements of the deal. Here's what I mean:

• Investors reserve the right to divest of the investment to other investors, which means you totally lose control of the ownership and who you can do business with. Often these contracts don't seem to have the first right to refusal. 
• You must have the insurance sums to prepay and secure your commitment to show that you're serious about doing business in the first place. This insurance acts as your security to participate in the transaction and can be quite expensive. 
• Defaults in repayment offer little recourse on the part of the investors who ensure that they clearly state what must and must not happen. 

There are other considerations and these examples are not exhausted by any means. If you're going to be in business, you need a strong team in order to build a business confidently and transparently that people can trust. 

Richard Blades functions in business development primarily in Barbados and regionally as we serve to help businesses do it right when planning their strategy.