“I read your column last week about the perfect business and I think that I have a great idea which would make a profitable venture. The problem is that I don’t know the best way to get started. I want to establish my business properly but I need some guidance to make sure I’m doing the right things. Do you have any advice for someone starting a new business?”

One of the biggest challenges facing prospective business people is not a shortage of creative ideas, but the lack of know-how to transform their dreams into viable opportunities. Sometimes, bridging the distance between a great idea and its realization may seem as difficult as climbing to the top of the Blue Mountains.

I can relate to the difficulties that face a new entrepreneur who is trying to start out with little more than a Big Idea. Many years ago I had an inspiration that I was sure would revolutionize the tourist-wear market and make me a lot of money. I secured some financing, went into production and brought my dream into reality.

However I was soon faced with a big roadblock- I didn’t know how to penetrate the retail network, and I didn’t have a clue how best to market my idea. In fact I really didn’t know anything about the business I was trying to break into. So, like many before me, I shelved my project and went on to other endeavours.

Now that I’m more experienced, I realize that my idea was indeed viable. My downfall was that I had not stopped to get support in the designing and planning of the structure of my business. I thought that having a great idea was enough to guarantee success.

I still see many persons who are disillusioned with their business because they don’t know where to get the technical support to make it successful.

When I was busy trying to figure out how to launch my venture, I remember thinking that it would be wonderful if there was a how-to-manual, or one location where people could go and feel comfortable getting practical business advice.

The good news is that today there are more organizations and persons that are dedicated to helping you succeed as an entrepreneur. Over subsequent columns we will introduce you to some of the places you can turn to for assistance.

Want to learn how to be successful in business? CLICK HERE!

One businesswoman who has devoted herself to assisting other entrepreneurs is Sekeywi Carruthers. She established a business development firm, Sekeywi Carruthers and Associates, some three years ago which provides advice and practical assistance to small and medium enterprises (SME). Carruthers specializes in supplying businesses with marketing, operations management, human resources development and management information services, among other things.

According to Carruthers, even if a business is small, it can’t get away with ignoring all the functional areas of business management. “These SMEs may not have the resources to hire a manager in all these areas,” she points out, “but whenever they need the specific service they can contract it out.” Her company allows the SMEs to keep their workforce tight, without sacrificing the quality of their output.

Carruthers herself understands the difficulties faced by start-up businesses. “We had challenges getting capital and in marketing our business,” she recalls. “We had to be creative and rely on a good network of people who helped us to take advantage of opportunities that came our way.” She confirms that it’s the relationships that she has built over the years that have helped her to reach where she is today.

It is out of this experience that Carruthers decided to produce a manual to assist start-up entrepreneurs to succeed. The Essentials of Starting and Managing A Business was designed to provide the information that businesspeople need in one simple guidebook. “It’s really difficult for people who are trying to establish their own business, to find out all they need to do, while still going to their regular nine-to-five jobs.”

She said that the guide will take readers through topics like ‘Attitudes & Skills’ and ‘Tips & Warnings’, which point out some of the practical aspects of business setup. The manual will also feature technical details of marketing, operating & manufacturing, risk planning and financial projections.

Carruthers, who also teaches a course in Small Business Management at the UWI School of Continuing Studies, can be contacted at (876) 758-8725 or online at www.sekeywicarruthersandassociates.com.jm

Copyright © 2007 Cherryl Hanson Simpson. No reproduction without written consent.

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Originally published in The Daily Observer, May 31, 2007

Cherryl is a financial columnist, consultant and coach. See more of her work at www.financiallyfreenetwork.com and www.financiallysmartonline.com. Contact Cherryl