Now that I have done the course what am I going to do with all this information!

It finally over! Fifteen week of blogging! As the saying goes, all good thing must come to and end. I am filled with mixed emotions but through it all I have learn a great deal of information. I feel like I have accomplished something.

looking back fifteen weeks ago at my entrepreneurial perception. I have come a long way. In answering the title question. I plan to use the information learned to my advantage. I plan to undertake some sort of entrepreneurial role in the future. 

As I rap up. I sincerely thank my readers who saw it fit to browse,skim or read my blogs. I believe I will continue blogging in the near future may not be soon though. As this cup has passed. I can truly say through the sunshine and the rain I've made it. Godspeed! Shalom! As-salamu alaykum!   

Crash and Burn...

No one is perfect; there will never be a perfect business, there will always be room for improvement. Failure is a fact of life. Instead of putting our hand on your head and "bawl" see it as a First Attempt In Learning! One the other hand that doesn't some businesses fail because of mismanagement,disgruntled employees, carelessness and the lists goes on. 

No one opens a business with the intention of a failing in fact any business is primarily for profit. Hence one must plan the business with such great defence to mitigate failure. It can never be to secure from failure; threats are and will always be there for e.g natural disasters,the economy etc. Which we have very little control over.

Put God first remember the cattle upon a thousand hills are his. In preventing failure there must be a plan. If you fail to plan you plan to fail. The plan should be as a guide for the business. In my business I will put customers first, if there are employees be nice to them let them see you as a friend even though you may have to "put down your foot" at times. Ask for feedback from both employees and customers to see where adjustments can be made. Being ready to make changes in response to trends etc.

These are just a few ways to safeguard ones business with these in place a business can be successful.

  

So I’ve established my business... what now?

After a business is established one should be extremely observant to very minute details as they arise ever so often. why? Not paying attention at this stage can make or break the business. You must be willing to make adjustment(s) accordingly that will help the it. It may be a new trend, style etc. 

During the first stage while trying to get the name "out there" one must also be patient as things generally move slow. If after a six months you can foresee no form of growth it may be time to count losses go back to the "drawing board" and in some cases "jump ship" It all depends.

lets say your business is going great steady growing. That's good but you now have to maintain it. we all get tired you have to add some spice(s)  here and there to keep customers.

The last stage business go through is the decline.  Sales fall rapidly, consistently or haphazard. This happens for many reasons;technological advancements, slothful economy and the lists goes on. We have very little control over these. At this point one may divest into another niche or inject something into the business that can revive it it may be money another product. It all depends choose wisely! 

So you want to set up a business...location why?

Location has been and will always be a key factor in setting up any business. Even if your business is primarily on the "cloud". After a time there will be a need for you to widen your horizon. That's where your location comes in. If your business isn't in the "cloud" then you need to sort that out from the "get-go".

Krispy Kreme Doughnuts. I recently blogged about franchising it in SVG. Am going to give two reasons why I will set up my business in Kingstown.

• Everyone comes to town At least eighty percent of the SVG's population comes to town twice a week if so little! For decades there has been this "town" mentality as the ultimate spot for everything; ranging from the very basic necessities to social entertainment. Within recent time many effort are trying to change this but sadly I don't think it can or will ever change. Also my target will be the younger folks; the children and teens who come to school everyday.

• Accessibility to resources: Kingstown has everything a business will need  weather it be needed directly or indirectly  for example banks, customs, media headquarters , lawyers etc. Transportation cost when items are brought will be minimal.

These two simple reasons are why I will locate my business in Kingstown from inception, despite the plans to extend there are more reasons but these two shall suffice for now!    

 

Facebook, Twitter, Social Media....Can this help my small business in SVG?

Its the technological era!  More and more persons are gravitating towards this in all walks of life. The babes,teens and young adults have grown with is so its sort of second nature. The older folks despite there age are appreciating it, and are making use of the many technologies as they are introduced ever so often. 

I answer an empathetical YES! It can and will help my small business. After all it only takes a spark to get the fire going. On the other hand I think what really matters is how it will help my business.

This will be done by creating pages, tweeting, etc. It's not just creating a page on "fb". The things posted should keep persons interested directly or indirectly. The way in which the social media's must be used tactfully to spread it's awareness But that's just a tip on the iceberg. I cant give out the secret recipe :).      

Where can I get help in SVG to set up my small business?

Help! Who doesn't need it. No one is perfect despite the old saying goes "practise makes perfect" in the recesses of my mind I remember it was changed to permanent rather than perfect which is more realistic. Before we go anywhere one must know how to "set up" a small business.

Every business must have a plan; if you fail to plan - you plan to fail. A business plan is like the brain of any business.It can be considered as a blueprint for a business. It is a must for success. It must be carefully thought out and planned systematically. Now we need help. In SVG help is everywhere weather it be financially or expert advice/consultation from the following according to http://www.gov.vc/:

* The Centre for Enterprise DevelopmentInc.CED).
* The Banks
* Micro Enterprise Loan Programme.
* The National Development Foundation (NDF).
* Professionals in Finance and Business.
* Ministry of Trade.
* Other entrepreneurs and business persons.

On that note here are few foxes we should get out the way such as being confident in yourself, knowing your fears; above all dealing with them. One must try to build a support network or extend it as much as possible; a network can never be to big. With all these in place your business is on the road to success.

Small Businesses...We need more to drive the economy of St. Vincent forward

Small business will create more employable people and encourages usage of more local products. As a result more people will have a share in the economic market. Many times it is financially difficult for persons to purchase items in large quantity even if it is a basic necessary. The bigger business sell these  same items but in quantities that are far beyond the buying power of the ordinary people whose income is skewed towards the poverty line.

Small business can are the best avenue for such persons as they can retail in quantity that meet the need of such lower income persons.  They will be able to buy the cases and break it up into quarter, eights or even single to meet the lower income need.  In this situation the small business is carrying a volume of products that are ready available to its clients and are not over stocking.

Not  only with merchandise is this applicable but also with products from farmer who grows many different crops.  They can have their small stall right by their gate with their produce; clean, fresh and bagged for sale. In that way the money from these small enterprises will certainly add  to the drive in the economy.

When the small business fish vendor comes selling his fish he can stop and purchase some peppers or yam and the small farmer will go to the small shop to buy rich and sugar.  They will all be playing in the market economy and create the needed drive to keep St. Vincent forward.