We rejoin the saga of business owner David, whose trucking company was facing serious challenges. On the verge of giving up on his entrepreneurial dream, David found a glimmer of hope for the way forward in a book about business success and resolved to keep on fighting.
“Ping!” The familiar notification sound roused David from his reverie. Absent-mindedly, he glanced over at the phone message, his finger poised above the delete button. He expected it to be another annoying advertisement from the mobile provider which constantly interrupted his train of thought.
Seeing the words ‘Free business workshop’, David snapped to full attention and put down the receivables report which he had been reviewing. The holidays were coming and he had to get some of this outstanding money into the bank if he were to pay Christmas bonuses this year.
The seminar looked intriguing, as it promised to reveal steps that a business could take to improve its results. Looking in his calendar, David noted that he had an important meeting with a potential client on the same date. “I can’t afford to lose money sitting down in a training session,” he thought. Continue reading A Jamaican Business Owner’s Fight To Survive: It’s the System, Stupid
Last week we introduced business owner David, whose trucking company was facing serious challenges. After losing a major client, David was tempted to give up on his entrepreneurial dream. In his darkest moment, however, he was encouraged by some business advice on the television.
“Business success is about the three P’s: People, Process and Product.” Billionaire investor Marcus Lemonis had reiterated this advice several times on his hit reality television show, The Profit, but it never meant much to David until he watched the programme that evening.
Like the embattled entrepreneur on the TV screen, David contemplated the future of his enterprise in an environment that was getting increasingly hostile. He understood that reduced sales and rising costs produced meagre margins, which were a recipe for disaster for anyone’s business.
Self-help brought little assistance
David had never been one to wallow in self-pity. He thought people who complained about their problems were wimps who lacked the strength of mind to find solutions. Despite his bravado, David was now forced to admit that he just didn’t have the expertise to solve his business challenges. Continue reading A Jamaican Business Owner’s Fight to Survive: The Longest Night
When I was in high school in the 1980’s, a career in the food industry was not considered to be a practical choice for ambitious students. Back then, you only took Home Economics if you were struggling with those ‘prestigious’ subjects that would lead you to more profitable professions.
Today, it’s almost fashionable to declare that you want to make money with food. Thanks to cable TV food shows, the resurgence of fine dining, as well as notable recognition programmes such as the annual Jamaica Observer Food Awards, many persons are now proud to be earning with food.
However, while your co-workers may rave about the bread pudding that you sell on Fridays, it may not necessarily mean that you should venture into opening a dessert business. Earning part-time income from your hobby is one thing, but starting an enterprise requires careful deliberation. Continue reading Making a Fortune With Food