Valuable Life Lessons
In my first job at a public relations firm, I was required to attend clients’ events and write press releases for the newspapers.
I had no particular knowledge about, nor interest in PR; I had only applied for this job because my best friend had worked there in the summer and had enjoyed it.
I remember my first attempt at writing a press release. My boss, Carmen Tipling, took one look at my effort (which I thought was pretty good) and dryly told me that this was not the way to do it. To get your PR items carried in the newspaper, Tipling explained, you had to write like a journalist.
Embrace constructive criticism
There began my internship into the world of journalistic thinking and writing. Tipling, a veteran in Jamaica’s newspaper business, didn’t spare any red ink in correcting my work. She drilled me in the principles of good reporting, teaching me many valuable life lessons along the way.
I have vivid memories of the day I handed a release to her, and with a curt nod of the head, she returned it to me without corrections. It appeared that my writing had finally attained Tipling’s high standards – I felt like I had won an Olympic gold medal!
Experience is a great teacher
Although the fields of public relations and journalism didn’t prove to be my calling, today I am very appreciative that I absorbed these early lessons. For many years, my writing skills remained unused, as my career choices didn’t require them.
It was not until fourteen years later that an opportunity came to combine my true passion – helping people to become financially successful – with my dormant journalistic abilities. I decided to write a personal finance column in one of Jamaica’s national newspapers, to spread my message to many more people than my day job would allow.
New profit from old lessons
The lessons I had learned have now allowed me to create my own livelihood. My articles have formed the framework for a comprehensive personal finance training business; and have given me endless sources of additional income.
Years ago, I would never have imagined that Tipling’s writing boot camp could have paved the way for a lucrative, fulfilling career. However, because I embraced those lessons and gathered all I could from the experts, I have been able to see my hard work pay off.
Wherever you are now, whether in a dead-end job or struggling to build your own business, look around for the lessons that life maybe trying to teach you. They may come from a picky supervisor or a demanding bank officer; from a harsh appraisal or a disappointing venture.
So, embrace the education – enlighten yourself and you might just end up earning big time!
(c) 2009 Cherryl Hanson Simpson
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Is This The Right Time to Start a Business?
If you have been thinking about starting your own business, you might be nervous about the current economic climate. Is is really advisable to begin a business is the middle of a recession? Are there any industries that might actually be viable at this time?
It’s understandable if you disbelieve the financial pundits who declare that crises can bring tremendous possibilities for new businesses. Prospective entrepreneurs might think, “Easier said than done,” as they are encouraged to look for business opportunities that have been created by the recession.
With consumers cutting back on spending, large corporations laying off workers and governments facing economic hardships, how can it be feasible for a small operation to navigate these turbulent times and create a solid foundation for success?
Despite the challenges, it’s not impossible for a business to begin life in the middle of financial upheaval and become a thriving enterprise. In fact, Microsoft emerged in 1975 during an economic downturn and Walt Disney began his empire in the recession of 1923. Our current crisis may just provide the perfect background for the birth of another mega business mogul!
Click HERE to read several considerations that can help you to be courageous and forge ahead with your business plans in these times:
(c) Cherryl Hanson Simpson
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Jamaican Way of Life – Good for Biz?
Once again, Jamaica is all over the news. At least this time, its for a good reason!
VW pre-released its SuperBowl 2013 advertisements: a teaser with Jimmy Cliff singing background vocals, and a commercial featuring a white American speaking with a Jamaican accent, trying to brighten up his co-workers’ day.
A few commentators in the US media expressed that they thought the ad was ‘racist’ and that started a blaze of discussion about the ad. However, most people said they found the ad light-hearted; some even mentioned that it made them feel like taking a Jamaican vacation!
At the end of the day, Jamaica is getting great publicity for which our Tourist Board could never afford to pay!
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Young Social Entrepreneur Wants to Feed 5000
I came across a heartwarming Christmas story in a local newspaper of an 18 year-old young man who not only had a head for business, but had a heart for doing what he could to make social changes.
Bennett, the founder of a non-profit organisation in Jamaica called Feeding of the 5000, started the programme in April 2012 with an aim to ultimately feed thousands of poverty-stricken persons.
Here is Jordan’s interview on Smile Jamaica.
What also struck me is that not only did he sacrifice his annual birthday party and presents to fund his charity, he also saved up to do his good deeds. According to Bennett, he used some of the J$10,000 per week earned from selling sweets in high school as seed money for his project.
You can learn more about Jordan and his ventures in social entrepreneurship on his Facebook page.
Joseph Wellington photo of Jordan Bennett courtesy of the Jamaica Observer, December 24, 2012
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The Business of Philanthropy
Despite the heavy commercialization of Christmas, many businesses use this holiday to help the less fortunate in the society, ensuring that at least one day of their lives is filled with food and fellowship.
But after the Christmas excitement has faded, what part does charity play in the other eleven months of the year?
Is it possible for entrepreneurs to incorporate good deeds as an integral part of their business strategy?
It could be argued that a charitable focus is in direct contrast to the prevailing concept of the free market economy- one that is built on greed and self-interest to promote wealth.
The reality is that many of the world’s most successful corporations are based on a solid tradition of philanthropy. Wikipedia defines philanthropy as “the act of donating money, goods, time or effort to support a charitable cause, usually over an extended period of time and in regard to a defined objective.”
Over the years, entrepreneurs with a charitable focus have greatly helped to improve the world:
- American steel mogul Andrew Carnegie diverted much of his wealth to fund libraries, schools and universities worldwide.
- Billionaire investor Warren Buffet gave away most of his immense fortune to the Gates Foundation, founded by Bill Gates, which funds global health and education programmes.
- Locally, the charitable efforts of philanthropists such as Michael Lee Chin and Ferdinand Mahfood have changes the lives of many ordinary Jamaicans.
How can the average entrepreneur incorporate a philanthropic philosophy in business?
Follow the 10% Rule
“Over the years I have found that many of the richest people in the world began their lives with the habit of tithing.” – Robert Kiyosaki
The formula of giving back ten per cent of your earnings to charity is called tithing. In the entrepreneurial world, whether tithing is done for religious purposes or not, the benefit is the same. There is a universal law that works to reward those who make a consistent practice of donating to worthwhile causes. I have found that the act of giving without seeking something in return has unleashed good fortune in both my personal and professional life.
Create goodwill for your company
“There can be little doubt that a certain amount of corporate philanthropy is simply good business and works for the long-term benefit of the investors.” – John Mackey
Businesses can profit from establishing foundations which are allowed to focus on altruistic pursuits instead of making profit for the shareholders. In deciding where to give back, it makes good business sense to contribute to those who support you. The Digicel Foundation has created tremendous goodwill for its parent company by helping to develop Jamaican communities, by building and equipping educational and social centres, and supporting local projects.
Establish a more profitable society
“Is the rich world aware of how four billion of the six billion live? If we were aware, we would want to help out; we’d want to get involved.” – Bill Gates
What if more profitable businesses focused on advancing the lives of the least fortunate among us, wouldn’t that help to improve the market place for all of us? What if more entrepreneurs concentrated on developing neighbouring communities, providing sustainable solutions for education, fostering job creation, and helping to change the mindset from poverty thinking to prosperity thinking, what kind of society would we create?
(c) Cherryl Hanson Simpson
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Business Lessons Gangnam Style
Unless you have been living as a hermit for the past three months (or just been really, really busy), you would have seen or at least heard of the music video Gangnam Style by South Korean artiste PSY. In a short time, this Internet phenomenon has captivated the hearts, minds and dance floors of millions of people around the world.
I got my first look at the popular dance moves while watching the ICC World Twenty20 cricket competition a few weeks ago. West Indian batsman Chris Gayle revealed snippets of the Gangnam Style during matches against Ireland and England, and then led the entire team in a spontaneous rendition as they celebrated their tournament win.
Intrigued about the origins of the dance, I checked online for more information, and was immediately captivated by the catchy tune found on YouTube.
According to Wikipedia, Gangnam Style refers to a lifestyle associated with the Gangnam district in the capital city, Seoul, “where people are trendy, hip and exude a certain supposed class.”
What one dance can do
With over 640 million hits to date, PSY’s offering is currently the second most popular upload, and has been lauded by a South Korean minister for playing an important role in introducing their culture to the rest of the world. UN Secretary General Ban Ki-Moon has even declared that the song’s feel-good nature can be viewed as a “force for world peace.”
To be honest, I don’t think people (unless they are already dance stars) look cool doing the Gangnam. In fact, Jamaicans have created many dancehall moves over the years that are more visually appealing than Gangnam Style. Lyrically, the song is weak; and overall, the video’s message lacks substance. Despite all of this, I still can’t get enough of its infectious rhythm!
Love it or loathe it, Gangnam Style has left an indelible mark all around the world. What is it about this childish horse-trot dance, which the artiste admitted was developed after testing various “cheesy” animal moves, that has brought instant fascination, fame and fortune?
Click HERE to see the lessons can we gain from PSY’s breakthrough effort that can help us to reap business success…
(c) Cherryl Hanson Simpson
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Business Lessons from Usain Bolt
When Usain Bolt finished the 100 metres final of the 2012 London Olympics in a new meet record of 9.63 seconds, the eyes of millions of people were keenly watching his performance.
With his brilliant accomplishment, the Jamaican sprint star demonstrated to his many fans around the world that he is indeed a legend in his own time.
Bolt’s attitudes, actions and achievements give us examples that are worthy of emulating. After watching him win another gold medal for Jamaica, my thoughts turned to areas in his life that could educate and encourage entrepreneurs.
Let’s look at some of the business lessons that we can learn from Bolt:
Choose a business that you love
It has been said that if you find a job doing what you love, you’ll never work a day in your life. Watching Bolt run, it is obvious that he enjoys his life’s work of competing in athletic events around the world. With a smile on his face and a dance in his step, Bolt makes the arduous mission of winning races look almost easy.
Similarly, running a business can be more fulfilling if you are operating in a field that you really love. An entrepreneur’s life can often be filled with challenges; so when the tough times come, it is easier to keep going if you are truly motivated by your daily tasks. You will also find it easier to attract customers when you are passionate about your business.
Click HERE to read more business lessons from Usain Bolt.
(c) Cherryl Hanson Simpson
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Tamarind Season Isn’t a Bad Thing!
In Jamaican parlance, ‘tamarind season’ has negative implications for business owners. It signifies a time when retail sales decline and nobody is a buying mood. As an entrepreneur, you definitely don’t want to experience this kind of season for too long!
Well, merchants in other countries may disagree with our take on tamarind season. It seems that food exporters in Asian countries such as Thailand and India are cleaning up with tamarind products.
Just when I thought I could no longer be shocked by the wide range of unusual products that we import into the country, I discovered that I was wrong.
I recently did a double take in a major supermarket when I saw some attractively- designed boxes of Sweet Tamarind neatly placed in the fruit aisle, just on top of the more commonplace American apple display.
Whole tamarinds packaged in a box?
Imported from Thailand?
On sale here in Jamaica?
You have to be kidding me!
And for what price?
J$935 (Plus G.C.T.)
for a 450g box of jumbo-sized sweet tamarinds!!!
Wow! This new product took my breath away. As I pointed it out to a nearby shopper, she started complaining that too much of our foreign exchange was being used to bring unnecessary items into the country.
While that may be true, I was more excited by the possibilities for our local entrepreneurs. Yes, we have many die-hard fans of our tamarind balls, but whole tamarinds in a box was another thing altogether.
I did a little research on the product on Alibaba.com (any product that exists for sale can probably be found on this site). It seems that there are dozens of companies that package whole tamarinds for export.
Any enterprising entrepreneurs want to take on this sweet and sour tamarind challenge?
Keep your entrepreneurial dreams alive!
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Do You Need An MBA To Be A Biz Success?
To MBA or not to MBA? That is the question… (My apologies, Shakespeare!)
According to mbaonline.com, “The MBA is an ever increasingly popular degree program – having people think thoughts of big bucks and running their own corporations. While it is true that an MBA can give you a chance at being the CEO of a company, chances are greater that you won’t be. And if you’re not going to be making millions, you’ll be stuck with a US$100,000 school loan. Many graduates who don’t get the job they want after getting their MBA have a hard time paying back that loan.”
If you are aiming for business success, will an MBA really help you?
Below is an interesting graphic from mbaonline.com that may help you to decide whether to pursue that higher degree or simply get started right away in your own business:
Created by: MBAOnline.com
2012 Earning Ideas
Find solutions to problems, package your skills this year:
Sunday Observer, January 8, 2012
WITH the excitement of the holidays and the elections behind us, one thing everyone can agree on is 2012 will be a tough year and all Jamaicans could do with extra money. So what are the areas in which one can earn extra income?
According to money coach and founder of Financially SMART Services, Cherryl Hanson Simpson, one should think about finding solutions to people’s problems, package the skills you have, and tap into the global market through the Internet.
“Regardless on the size of your business, you have to understand, entrepreneurs make money by solving people’s problems. There are opportunities wherever you can provide a service or product to someone. It could be at your school, your workplace or church, wherever people are gathered. Try to think about what is it that people want that they are willing to pay money for,” she said.
Click HERE to read more and find out about some great income generating ideas for 2012.
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About Me
I'm Cherryl Hanson Simpson, a Jamaican entrepreneur and money coach. I hope that you will be encouraged, excited and empowered in your journey to achieve your entrepreneurial dreams!
