Working with young male and female entrepreneurs daily help you to better understand their strengths, weaknesses, opportunities and threats. Over the 20 plus years I’ve been directly involved in entrepreneurial development there is one common factor that all have to grapple with, when will we get profit, when will we come to the point of earning money?
This I believe creates the most anxiety and fear in many of the persons who venture out and take huge risks into becoming entrepreneurs with sustainable businesses, within our Caribbean Region.
One of the lessons that I believe ought to be learnt is that we cannot escape effective leadership, marketing, advertisement and sales in order to gain incomes. We must also be very consistent with the quality of products and services we produce and learn very quickly to separate from the personal love of your skills to that of becoming a problem solver, hence you no longer are serving or producing for yourself but your potential clients.
Consumers will check you out, they will see your trends and offerings, eventually they will know from accessing your products and services how much investment you actually made in producing.
This is where I find many young entrepreneurs between the age of 18-29 get carried away and sometimes lost in the maze, because they still have these false notions that life is going to happily ever after, people are entitled to work with them, I can take short cuts and win rather than work smarter and not harder.
I say that to say this, that in our region there is way too much copycat things… we are just not ceasing the opportunity to be innovative rather we figure I can do same as them and it comes out better but that’s not how it works.
Each product has to have its own specifications, each entrepreneur will have a different what we call “secret sauce” and hence our willingness to be cheating our way up will not work.
We should be so focused on making our business models sustainable that we would not have time to be copying, instead always seeking innovative ways and be different.
Finally, nothing in this life is free, everything comes at a cost, never believe smart marketing to cut out others from making progress is to offer it free, that’s not business at all, that’s games for jokers…
Too many times we stiffly each other by guessing our cost and sales price without giving thought to expenses, maintenance, personal and business development, professional fees etc, and only when we run in trouble we seek free help.
In these very harsh economic times that will surely not work it’s not sensible if it is not sustainable, you’re doing your own self and business harm by these nonsensical practices. We cannot shortcut business management or we will gain poor short term results.
Discipline yourself go the extra mile, make up your mind to invest in the development of self and your business in order to gain those needed profits on a long term basis, seek help from credible consultants, get yourself a mentor who has integrity and will not allow you to compromise but will coach you how to run a sustainable profitable business.
Yes it will take some hard work to make the changes but it’s best to you go through them and make the investments, learn how to build influence the right way and be consistent in your offerings to do otherwise is to commit business suicide, you won’t last too long in this global market place.
Constructive Solutions Inc. can help you in these endeavors with our triple regional and global award winning program BIZ-HUB Entrepreneurship Development Service, one assessment is complimentary and then your expected to make tangible investments into your growth, don’t hesitate today.
MAKE THE CHANGES NOW, GAIN THE PROFITS AFTER… contact us via email:firstname.lastname@example.org or via whatsapp or telephone (784) 4920908.
Next article we look at how to make tangible investments towards your growth and development of a sustainable and profitable business in the context of the Caribbean Economy.