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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Can Social Networking Help Your Business?
Unless you’ve been living as a recluse for the last few years, or you’ve chosen to ignore the technological advancement of the Internet, chances are that you have heard of the concept of social networking. The way that the world communicates in the 21st century has been completely transformed by this phenomenon.
Social networking is a web-based structure that allows persons who have common interests to interact freely online; sharing comments, ideas and stories.
Some of the more popular networks include Facebook, Twitter, YouTube, LinkedIn and MySpace. Research indicates that avid social networkers will spend several hours per day communicating with their online friends.
With over 500 million users [2010 figures], Facebook is the king of all the networks; and it offers the most options for a business to create a meaningful online social presence. If you’re a Facebook newbie, click to read some great tips on how to make use of this opportunity…
(c) Cherryl Hanson Simpson
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Networking 101
“It isn’t just what you know, and it isn’t just who you know. It’s actually who you know, who knows you, and what you do for a living.” – Bob Burg: Author, Endless Referrals
Networking, the art of making connections with people to expand your circle of influence, is one of the most important tools to grow your business. However, it is often overlooked by entrepreneurs who sometimes neglect to even tell close friends and associates about their business ventures.
Let’s look at some basic steps to get started in networking your business:
Practice your pitch
When you’re planning to use networking as a marketing strategy, you need to have a great answer to the inevitable question, “So, what do you do?” You must to be able to quickly outline your unique selling proposition (what makes your business special) in a way that will convince a prospect that you’re worthy of further consideration.
Mark Joyner, marketing guru and author of The Irresistible Offer, declares that you have exactly three seconds to capture the mind of a prospective customer. “People today are impatient, and rightfully so,” Joyner explains. “They are bombarded with thousands of marketing messages a day.”
So, get creative with your 3-second pitch. Instead of saying “I own a hairdressing salon,” spike a little interest by saying “I make women feel beautiful.” People always want to find out more about my business when I tell them that “I teach people how to manage, multiply and maintain their money.”
Get in the mix
Networking requires you to get out there and tell people what you do. Start by focusing on groups that you may already be a part of, such as past students’ associations, religious institutions, or your children’s PTA. Then ramp up your networking efforts by joining service groups such as the Kiwanis or Rotary clubs, or professional groups within your industry.
It is crucial to be prepared when you’re out meeting people. Make sure that you have enough business cards for the expected number of persons at an event. Walk with a small notebook to jot down email addresses and other significant data about people you meet. Don’t just focus on yourself; it’s also important to be genuinely interested in other people’s stories. Make mental notes of interesting details, so that you can wow your new acquaintances in future conversations.
Link up for social networking
Social networking is simply the grouping of individuals according to shared interests or demographics. Social networking takes place in schools, workplaces, churches and communities, but it most popular and impacting on the Internet. Thanks to the millions of web users, online social networking has the ability to introduce your business to large numbers of persons that otherwise would be out of your reach.
You can join a social networking site by accepting an invitation from a friend, or going directly to the website and registering. Depending on your particular business interests, you can select the network that provides the best contacts. MySpace is essential for music industry practitioners, while LinkedIn and Plaxo concentrate more on business professionals.
Facebook, the most popular social network, has over 90 million active users according to a PC World article published in August 2008. Facebook has a great mix of personal and business users and can allow you to set up a special page for your business or create your own community that can attract persons with shared interests.
(c) 2008 Cherryl Hanson Simpson
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Show Me The Money!
One of the biggest mistakes that an entrepreneur can make when starting a new business is the ineffective use of limited resources of time and money. Owners of micro enterprises have to be very careful how they spend every dollar of working capital and every minute of their working day, to ensure a positive return on their bottom-line.
There are three elements that must work in harmony to produce business success. First, your product or service must be properly designed to meet the needs of your customers. You must also organize your operations to ensure a smooth delivery of your offering. The third element must be the sales and marketing of your product or service.
The challenge for many new entrepreneurs is that they are so impassioned with their business dream that they spend a large amount of time and money perfecting their service or product and organizing their operations, and forget to concentrate on the marketing of their business.
Marketing = Money
Peak Potentials CEO, T. Harv Eker explains that marketing = money and money = marketing. No matter how great your offering is and no matter how wonderful your service is, if you don’t market your product well, no one will know about it and therefore no one will buy it. Think about it – how many times have we accidentally come across a great product or service that really fits our needs and we complain to the owner, “How come I never heard about you before?”
Eker confirms that for businesses to become profitable, the operators themselves must develop a marketing-focused approach. He notes that most enterprises are starved of revenue because the owners spend 65 per cent of their time and money taking care of the operations side, and only 10 per cent on marketing. Eker declares that to see the money rolling in, entrepreneurs need to spend that 65 per cent effort on presenting their product or service to potential customers in such a way that makes them want to buy.
Like many start-ups, I know that I have been guilty of ignoring money-making marketing methods to my peril. I have invested valuable time in designing my services, and spent precious initial capital in ensuring that I am adequately equipped to welcome to all these clients who need my services. In hind-sight, I realise that I have not put enough time and effort into actually convincing these potential clients that they desperately need my services.
Focus on the money
As Eker declares, entrepreneurs must focus on money-making by accepting responsibility for their marketing efforts. Yes, you can hire people to carry out marketing activities, but you still need to know how to market your own business. First of all, no one knows your business or cares about it more than you do. Secondly, marketing is a learnable skill, so you don’t have to feel incapable of doing it.
Focusing on the money also helps you to make proper decisions when you have to spend valuable resources. You will learn how to evaluate each request for time and money by looking at the probable return in sales and profit. Every action must produce monetary results – Show me the money!
If you need a little inspiration to work on your marketing skills and increase your revenue inflows, check out Tom Cruise and Cuba Gooding Jr. in this classic ‘Show Me The Money’ clip from the 1996 movie Jerry Maguire - http://www.youtube.com/watch?v=OaiSHcHM0PA
(c) 2008 Cherryl Hanson Simpson
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Plastic Bottle, Water & Bleach Light
Tired of high light bills? (Aren’t we all?)
Who knew that a plastic bottle, water and a little bleach could bring light into a dark world?
Mere words fail me to adequately describe the potential of this ‘light bulb’. Take a look at these videos to see for yourself!
This brilliant idea (pun intended) seems to have originated in Brazil. I love how this entrepreneur in the Philippines saw how he could earn money AND make a difference.
Any enterprising entrepreneurs want to take on the challenge of lighting our world in Jamaica?
Keep your entrepreneurial dreams alive!
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Spicing It Up
The brainchild of twin brothers Marlon and Marvin Stuart, Local Spice’s Complete Seasoning was birthed in January 2010. After just three months on the market, their blend of natural spices earned rave reviews from Phil Lempert, one of America’s leading consumer trend-watchers and analysts.
During an episode of his popular weekly programme New Product Hits and Misses, which was featured on ABC News Now, Lempert gave Complete Seasoning an impressive rating of 95 out of 100. The product received top marks for taste, value, health, ingredients, preparation, appearance and packaging.
“This product is a hit! If you have ever been to the Caribbean and especially to Jamaica you know that when it comes to spice there is no comparison. I love this Complete Seasoning from Local Spice. The combination of scallions, hot peppers, salt, black pepper, allspice and thyme is extraordinary. It comes in a liquid consistency that is perfect to spread on fish or chicken, pasta or add to just about any recipe,” said Lempert, who is commonly referred to as the “Supermarket Guru”.
This is the kind of dream start that every entrepreneur envisions! Watch as Marlon and Marvin tell the story of their spicy beginnings on Television Jamaica’s interview program ‘Profile.’
Keep your entrepreneurial dreams alive!
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Love This! Little Lion Books
Love this!
With Usain Bolt’s recent 200m win at the World Champs, it’s the perfect time to re-read this charming story about Little Lion, the lovable Jamaican character created by author Kellie Magnus and illustrator Michael Robinson. Follow Little Lion as he learns how hard work and dedication on the track can lead to success. While you’re at it, grab the first two books in the series, Little Lion Goes to School and Little Lion At Bat. A Caribbean children’s classic.
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Persistence Pays
“Nothing in the world can take the place of persistence. Talent will not; nothing is more common than unsuccessful men with talent. Genius will not; unrewarded genius is almost a proverb. Education will not; the world is full of educated derelicts. Persistence and determination alone are omnipotent. The slogan ‘Press On’ has solved and always will solve the problems of the human race.” - Calvin Coolidge
One of the biggest challenges facing entrepreneurs is the ability to keep on going even when the going gets tough. Many a business dream that came into the world with an enthusiastic shout, later died with a feeble whimper because the entrepreneur just didn’t have the persistence to continue until success prevailed.
Ralph Marston in his Monthly Motivator online newsletter confirms that long term, consistent success in any endeavour requires persistence. “With enough persistence, anything is possible. It is a quality that counts more than skill or knowledge or intelligence or the right connections. The ability to persist is the ability to win.”
What steps can you take to become more persistent?
Decide why it’s important for you to keep going
The first action to creating persistence is to find a compelling reason NOT to give up. You have to be passionate about your purpose, and very clear about the reasons for establishing your business. Do you want to achieve financial freedom for your family? Do you want to make a difference in your country? For me, the knowledge that there are thousands of Jamaicans in financial distress motivates me to keep pursuing my goal of advancing financial literacy and empowerment.
Do it even when you don’t feel like it
It easy to keep going when you feel great and everything is happening according to plan. The truly persistent don’t let personal feelings stop them from accomplishing their goals. You feel a cold coming on, but you take some medication and make that important presentation anyway. You hate calling new prospects, but you smile through all the negative responses until someone says yes to your proposal. As Nike says, “Just Do It!”
Think of challenges as speed bumps, not brick walls
Persistence can be difficult when there seems to be nothing but obstacles in your path. According to Marston, obstacles are not there to stop you, but to challenge you. “Obstacles are what make achievement worthwhile, if there were no obstacles, then achievement would be meaningless and without value.” Challenges can also develop your character and teach you valuable life lessons.
Defeat discouragement
In every business, disappointments will come which can make you doubt yourself and think of giving up. Fight the despairing thoughts by taking action – take an honest and objective look at the problems you’re facing. Seek professional help in areas in which you lack the expertise. You may even need to change your approach and adjust your strategy to get to your goal.
Balance work and rest
Despite living in a world of instant gratification, we have to realise that important things are notaccomplished overnight. Being a workaholic doesn’t always bring faster success. In fact, if you keep going without resting you will end up extremely tired, unable to focus and more likely to quit from sheer exhaustion. Make the time to rest and re-energize yourself.
So whatever comes your way, keep going, for as Marston says, “You can only win the race if you run it through to the end.”
(c) 2008 Cherryl Hanson Simpson
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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!
