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. 

When tragedy strikes the death knell

If you've ever been involved with supporting a cause, you will be familiar with the zeal that goes into it when everything is new and the uncertainty is high. Everything seems to be a life-or-death decision on which everyone's decisions hang. There's an urgency, especially when the individual is young and vulnerable. 

Over time, as the years pass by, the individuals who are impacted live. Complacency sets in and can become entrenched until something tragic happens. In other words, we lose the edge. 

Yes, people are ready to support you as always. However, the reality is, people burn out. Particularly the leadership. 

If this reflects any organizations with which you are affiliated, then there's a need for a change. It is lives that are in jeopardy and therefore the situation is too tenuous to play around with the decision-making and support processes. 

What can get in the way? 

In short form: pride, ego, fear are some of the broad headings that come to mind. These and their derivatives serve to hinder an organization's progress and stop the realization of the objectives of the entity. 

Take action now! Put your house in order and so you wouldn't have to wait until tragedy strikes. 

Why do I have a business and does it serve me and others?

 If you have stopped by because of the title then you too may be wondering, where is he going with this. There are many people who are getting into the businesses but they never ask the really defining questions that may bring clarity. 

If I had to be really direct then we can examine, did you seek God about what to do, or just consult yourself on what you believed you like doing? Many of us do the latter and then pray that God blesses our efforts to help us succeed. We get it backwards. 

Here are some questions you need to consider before you get into business. They may help you redefine your business if you're already in business. 

1. Why should one get into business? [Gen 2:15]
2. What should that business be about? [Gen 2:16]
3. Is it in alignment with our core values? [Gen 2:17]
4. How can it be made sustainable? [Gen 2:18]

These can be answered in your time through your own investigation. I have put some passages beside each question as points of reference which through your own investigation will reveal to you more information about the business you are seeking to invest in as well as if it would be blessed and sustainable. 

You are given the scope of your business and the possibility of success should you act based on the information that you have. Will you have challenges? Yes. However, you will have divine guidance since you first committed your plans to the Lord. [Prov 16:3 & Psalms 20:4] 

Do we really give creative thought as to what, who, why, where, when,  and how we really serve by being in business? It seems sometimes like we get into business without that clarity which then leads us into the avenues of fear, stress and panic when we don't have sufficient information. Shouldn't business be easier? I think so. 

Ensure that you take every step to be clear about your business. That clarity should cover every element of your business so that you make mistakes on paper rather than with paper. 

Get a business team together one thing is certain. You can't think of everything. You don't know everything. There are organizations that can provide you and your entity with technical assistance. These programs can provide consultations, training, webinars and seminars. 

The help will permit you to access funding, growth, and revamp operations.  Consider who really owns your business and perhaps that will help you with your approach to the business entrusted to you. 

A new direction - carefully being researched

It's a new day and there are new developments. There's quite a bit of "newness" going around. On this blog, we too will be making some changes. 

The research is going on and I encourage you to stay tuned. There is another way of doing business that ensures they thrive. 

I firmly believe that God blesses those who have the capacity to manage. This first became known to me through Dr. Myles Munroe's sermon from many years ago. It got me thinking. Then others offered supporting information from within the Bible - The Living Word. 

I won't say more at this stage but encourage you to stay tuned. It won't be long in coming. I don't have all the answers, I'm just letting God use me as an instrument of his grace. 

Looking forward to sharing how we can all function better in the marketplace with more wholesome businesses. 

We will learn of the challenges and sacrifices of being in business and situations that can come against you. Hopefully, we will prayerfully be able to share answers that offer relief. 

There is an urging by the Holy Spirit that this is necessary. I am required to be obedient to Abba God. May His will be done.