All posts by CHS

About CHS

I am a Jamaican entrepreneur, author, money coach, business mentor and inventor. My passion is to learn new things and to share my knowledge with others. I've discovered how the 3 M's of Money can help you to be financially smart. Now I'm learning what it really takes to be financially free. See more of what I'm up to at EntrepreneursInJamaica.com, WiseJamaican.com and JamaicaOnCanvas.com!

Jamaican Style Money Guide: Don’t Hang Yuh Cap Whey Yuh Cyaan Reach

Spending, , , , , , , ,

If you would like to become smarter with money, you can gain tremendous insight by exploring the wisdom in our beloved Jamaican proverbs. As the saying goes, “A word to the wise is sufficient;” and a few astute adages from our rich heritage can help you to increase your financial intelligence.

One smart saying that I have heard many Jamaican old-timers use is, “Don’t hang yuh cap whey yuh cyaan reach.” In Standard English the proverb translates to, “Don’t hang your hat higher than you can reach;” and it cautions persons not to expend more than they can afford.

The concept of ‘living within your means’ is a basic principle to financial success, yet it’s one of the money rules that is easiest to break. Many people have no idea what their ‘means’ really is, so they often find it difficult to remain within the acceptable limits whenever they spend their money. Continue reading Jamaican Style Money Guide: Don’t Hang Yuh Cap Whey Yuh Cyaan Reach →

The Field of Dreams: A Financial Fairy Tale

Money Reflections, , , , , , , ,

The Curious Traveller was traversing a wooded area of the Kingdom when he came upon a weather-beaten sign that read ‘Field of Dreams.’ A short distance away, he noticed a tiny cottage perched at the entrance of what appeared to be a large cemetery teeming with rows of graves.

Intrigued, the Curious Traveller strolled over to the building and raised the rusty metal knocker. Instantly, the door opened and a wizened old man stood in front of him. “How can I help you?” he grunted.

“I am curious about the Field of Dreams,” the Curious Traveller responded. “What is this place?”

“This is where the businesses of the Kingdom are taken when they die,” the old man explained. “I am the caretaker who lays them to rest.”

Just beyond the cottage, the Curious Traveller noticed a walled-off area secured by a heavy iron gate with a large chain and padlock. “What’s in that section of the Field of Dreams?” he queried.

The caretaker sighed deeply and shook his head slowly. “Sit down, my friend,” said the caretaker, pointing to a rickety chair in the office. “Let me tell you the story of what lies beyond that iron gate.” Continue reading The Field of Dreams: A Financial Fairy Tale →

Jamaican Style Money Guide: Rain a Fall but Dutty Tough

Budgeting, , , , , , , , ,

Traditional Jamaican proverbs are wonderful sources of folk wisdom that can provide people with insight into various aspects of everyday life. I like to use these adages in discussing money matters, as they often reveal essential principles of proper money management.

Recently, the rains have given us a welcome break in the prevailing drought conditions in Jamaica, but we are still experiencing severe water restrictions. This brings to mind the Jamaican saying, “Rain a fall, but dutty tough,” which means that although rain is falling, the ground is still dry and parched.

This proverb has a deeper meaning when applied to a person’s finances, as it could refer to the all-too-familiar situation in which income is being earned, but it is just not enough to cope with all the bills. Your money evaporates as soon as you get it, just like a drizzle of rain in the arid desert.

As prices rise and earnings stagnate, many people are reeling from inflationary pressure on their spending power. If you have been suffering from a prolonged money drought and this Jamaican adage resonates with you, the following strategies may help to revitalise your financial situation. Continue reading Jamaican Style Money Guide: Rain a Fall but Dutty Tough →

A Jamaican Business Owner’s Fight to Survive: The Longest Night

Business Success, , , , , , ,

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 →

A Day in the Life of a Jamaican Business Owner

Business Success, , , , , , , , ,

David’s head jerked at the insistent sound of the telephone ringing in his office. He hadn’t realised that he had fallen asleep at his desk until the call interrupted his late afternoon nap. For several months, sleep had eluded him during the night, and his body was trying to regain well-needed rest.

Despite being bone-tired when he finally crawled home after 10:00 pm most nights, David found it difficult to wind down and relax. Concerns about his business swirled around in his mind and he spent many more hours contemplating strategies that could help him fix the serious problems that he faced.

As the proprietor of a small trucking operation, David enjoyed the freedom that business ownership brought to his life. Twelve years ago when he made the courageous step to start his own venture, David had big plans to turn his fledgling delivery service into a multimillion-dollar enterprise.

The business had enjoyed initial success, as he was the only operator in the eastern parish where he lived with the type of equipment that could meet the needs of the local businesses. Eventually other entities had joined the market and fierce competition now made it a cut-throat environment. Continue reading A Day in the Life of a Jamaican Business Owner →

Strike Gold with Brand Jamaica

Income Creation, , , , , , , ,

Jamaica is indeed a very inconsistent country. While it is probably one of the most influential nations in the minds and hearts of millions of people around the world, Jamaica has been struggling for years with insufficient income, inadequate infrastructure and immense indebtedness.

Foreign investors will experience Jamaica as a place offering lucrative business opportunities, but local entrepreneurs often find it difficult to overcome the various impediments to business success. It almost seems like two different business worlds exist for overseas and Jamaican operators.

Jamaica is the birthplace of reggae; a tiny island that developed a musical form that has taken over the world is almost unheard of. However, we are losing out on the value of our music as overseas musicians are producing quality reggae and profiting from it in ways that locals do not.

Manufacturers in far-off regions such as Asia are making super profits from incorporating Jamaican images or the words ‘Jamaican Style’ on their products. Conversely, many of our local producers have not been able to adequately exploit the gold mine that can be found in Brand Jamaica. Continue reading Strike Gold with Brand Jamaica →

Financial Independence for Jamaica

Money Reflections, , , , , , ,

Happy Independence Day, Jamaica! As we celebrate the 53rd anniversary of the date when the British flag was lowered for the last time and replaced with our iconic black, green and gold standard, it is an ideal time to reflect on what it means to be an independent nation.

When we made the bold step towards self-governance, there must have been an expectation that we would be able to manage our own affairs and lift our country to new heights. Half-a-century later, can we report that we have been successful in doing what it takes to be truly independent?

We may have fulfilled one definition of independence — “not subject to another’s authority or jurisdiction” — but there are other characteristics that we have not yet acquired. An autonomous entity should not be dependent on others for its existence, or have to rely on others for support. Continue reading Financial Independence for Jamaica →

Investing in Jamaica – A Diaspora Perspective

Business Success, Investing, , , , , , , ,

I often receive emails from people living in the Diaspora who express their commitment to this country, and share their concerns for it. Recently, an overseas reader asked me to recommend some investment solutions that would be appropriate for Jamaicans living overseas.

There are several local investment options which can help investors from any country to increase their personal wealth. Licensed investment advisors can assist persons to identify their investing objectives and choose suitable investments that are targeted towards accomplishing their goals.

However, I believe that my reader had a more meaningful purpose for seeking to invest in this country. Aside from building wealth, he wanted to see his dollars make a difference in Jamaica. To achieve this, he would also need to look for investments outside of the traditional financial markets.

Many persons of Jamaican heritage have a desire to direct funds into this country to help promote our social and economic development. If you’re living in the Diaspora, here are some practical ways for you to invest in Jamaica, which will really stimulate long-term development in this nation. Continue reading Investing in Jamaica – A Diaspora Perspective →

Thriving In a Time of Scarcity

Income Creation, , , , , , , , ,

Last week we looked at the impact of the prevailing drought conditions in several communities across Jamaica. Many people are experiencing tremendous hardship and increased spending requirements as they attempt to acquire water for domestic and business use.

So much in our world depends on the supply of water. People, animals and plants need water to survive, many businesses rely on water to produce goods and services, and water also provides recreational benefits. Without water, life as we know it would cease to exist.

Despite the various challenges that arise when the supply of this precious resource is curtailed, lucrative opportunities may also crop up in this time of scarcity. As the saying goes, “nature abhors a vacuum.” When there is a lack of an essential item, something must develop to fill the void. Continue reading Thriving In a Time of Scarcity →

Surviving In a Time of Scarcity

Money Reflections, , , , , , , , ,

Living in a developing country such as Jamaica has its share of challenges which can often lead to disruption and displeasure for its citizens. One perennial problem that perturbs us whenever there is a prolonged drought is the scarcity of piped water for everyday use.

It seems that every year we experience progressively worse conditions with the country’s declining rainfall levels. Whether we are suffering from the effects of global warming or the removal of trees needed to boost the watershed areas, something is drastically wrong in the ‘land of wood and water.’

Money down the drain

Many households and businesses are crippled by the lack of this precious commodity. Some of the issues affecting our productivity include: employees who are late or absent from work due to their search for water; lost revenue for businesses that depend on water; and money diverted into purchasing potable water.

While I acknowledge that other countries are also suffering from the results of climate change, I question our national response to the water crisis. Praying for rain may be our standard answer, but I would like to see more permanent solutions to address our dwindling water resources. Continue reading Surviving In a Time of Scarcity →