T&T Entrepreneurs Magazine 4th Issue

EntrepreneursT&T’sIssue #4

October 2015 Content:Local | Vision:Global

Ultimate Guide Digital
Forensics
For Business
Owners At Its Best
to Explode
Profits T&T’Entrepreneurs

Magazine Turns 1



Table
of

Contents

Freshmanpreneur

6Deftment

10DTECTTJuniorpreneur

Seniorpreneur 13

GPaul

04 Message From Publisher Sales – It’s no Lie!
09 Sales 3 Tips For Better Storytelling
15 Hone Your Skills Learn From Your Competitors
16 MAP Ultimate Guide For Business Owners to Explode Profits
18 Profits

T&T’s Entrepreneurs Magazine Issue #4 , OCTOBER 2015

Publisher Head Journalist Contributors
Nahum Media Ltd Natasha Brown Mical Marketing
Up Sell
Editor-In-Chief Design & Layout Curtis Siewdass
Nahum Media Ltd Karthik Ramamurthy

Printed By Nahum Media Ltd.

Nahum Media Ltd are the proud publishers of the T&T’s Entrepreneurs Magazine.
Feel free to contact us at (868) 288-0940 or send an email to [email protected]

T&T’s ENTREPRENEURS | October 2015 3

Message From Publisher

T&T’s Entrepreneurs
Magazine Turns 1!

A few weeks ago I met a client who reminded me so • Accreditation Council Of Trinidad & Tobago
much of myself and the journey I embarked on a year (ACTT)
ago. She’s in the final stages of publishing her first
magazine. While speaking with her, she expressed the • Trinidad & Tobago Securities & Exchange
various hurdles and unforeseen challenges one face Commission (TTSEC)
when seeking to publish a magazine. After hearing her,
it made me reflect on my journey. • University Of Trinidad & Tobago (UTT)
• Global Financial Traders
One year ago I decided to publish a magazine. I • Mical Marketing
wanted to create a platform for entrepreneurs to tell • Republic Bank Ltd
their story. Too many times we see the successes and • Charran’s Book Stores
failures of a business, but have no clue of the story • SM Jaleel
behind the business. The magazine was also meant to • SPX Corp
not only highlight the prominent businesses like most • Business Etiquette
business magazines do, but to shed light on all levels
of entrepreneurs i.e Freshmanpreneurs, Juniorpreneur Specialist
and Seniorpreneur. Without any prior knowledge of • Brownie
the industry or mentorship, I began the journey .
Communication
I must admit, there were a lot of challenges and • Pearl & Dean
disappointments. From not having any working capital
to being turned down by 98% of potential advertisers Advertising
to not having sufficent money to pay printery to • Adrian Havelock
• Curtis Siedass
print the magazines. Nevertheless, I • Renell Medina
weathered the storm and today the • Bridget Baptiste
T&T’s Entrepreneurs • Dianne Barnes
• All Entrepreneurs who
Magazine survived four issues.
As I look back, we’ve made a lot were featured in the 4
of mistakes. We’re still a work in issues
progress but in the midst of all
that, we’ve made some significant Micah Alfred
progress. From outsourcing our Managing Director
printing to now printing the Nahum Media Ltd
magazines ourselves and from not
having any advertisers to getting
some well-known companies to
place Ads with us.

As I plan and prepare for another
four issues , I would like to express
a heartfelt thank you to the following
companies/persons who believed in us
while majority didn’t. We would’ve reached

thus far if it wasn’t for
you.

4 October 2015 | T&T’s ENTREPRENEURS



Freshmanpreneur

Deftment

“ If you look around your startup and you don’t see a sales person, it’s you . “

WWhen Kevin Ross one would normally see. That’s explained Huggins, adding Dan Martell
and Nicholas that it’s usually an ‘all hands
Huggins, because they do it all. “We on deck’approach to getting day running of the business is
the work done at Deftment. something they were always
Managing Directors of carry every title in the entire primed for. “When we were
Deftment, look around their company and wear a lot of The idea to get into in CIC he (Huggins) used to
startup, a new apparel line to different hats,” said Ross in the entrepreneurship fermented actually screenprint t-shirts
Trinidad and Tobago, there’s a one-on-one interview. “From at their alma mater, St. Mary’s at home then sell them to
dearth in the typical positions sales to marketing, general College (CIC), so the day to persons who were going to
manager and labourer,” parties and that kind of stuff,

6 October 2015 | T&T’s ENTREPRENEURS

essentially to make money We ended up using a foreign could compete locally and coincided with their one
to go out and party. So we supplier but a local printer. internationally against names year anniversary in business,
decided that when we got The main thing we wanted from Quiksilver to the plethora the guys relished in the
back (from university abroad) was when people bought the of lines on Amazon. Admitting
we wanted our own line product, they would feel it and satisfaction of seeing their
where we could actually have say, “Yes this is good quality,” that they admire the work of
a legitimate company, not just Huggins added. designer Keegan Simon, owner hard work bring such rewards.
on the side,” Ross said. of The 1ndividual Aesthetic, “You expect support from your
After testing the product as well as a few others who friends and family, but seeing
The dream to make their own using different methods, carry successful brands, they other people you don’t know
apparel that people would be suppliers, prints, costs and try to focus their efforts on giving support to the brand is
proud to wear, led Huggins to more, the guys settled on a finding out what the consumer really incredible,” said Ross.
study Graphic Design at the look, and began building the wants. “We try to listen to
Savannah College of Art and Deftment brand. “The name our customers and provide Moving forward Ross and
Design. While Ross studied what they want. As well as Huggins plan to have their
Environmental Science at the Deftment comes from ‘deft’ designing things that people products in a few stores,
University of Western Ontario, haven’t seen and designing expand their offerings to
he ensured that other courses meaning skilled and ‘ment’ cool stuff that people would include a sport line and build
were business-oriented so want to wear. I personally like their international sales. It’s
that he could pursue his coming from movement so big graphic t-shirts, but then enough motivation to keep
entrepreneurial ambitions ‘skilled movement’,”Huggins there are people who don’t like them busy, parlaying their
once back in Trinidad. explained. “The original that, they just want small logo business with the demands
idea we had was that it’s for in the corner, so we also have of their full time jobs. Juggling
After completing their people who are proud of what products with embroidered both ventures means drive
degrees, both Huggins and they do, passionate… a brand logos,” said Huggins. and passion. “Find something
Ross began full-time work, for a passionate group of you’re passionate about and
but never took their eyes off individuals. If you’re a Deejay The duo also decided to research it to the hilt because
their entrepreneurial goal. and you’re real good at it, this in business, knowledge is
Taking a year and more to is the brand for you. If you’re include an element of power. The more you know
thrash out ideas for the brand, exclusivity to their brand;each about what you’re doing the
its concept and design, they an athlete and you’re real piece comes in a limited better you’d be,” advised
fine-tuned every aspect of the good, this is the brand for you. edition design with several Huggins.
apparel line before its launch. If you’re an artiste and you
“It was literally a year and colour variations of each. Ross ended, “I’d definitely
month of planning and making want to wear something really recommend doing as much
sure everything was perfect, cool, this is the brand for you,” They also constantly come networking as possible.
going through a hundred logo added Ross. up with innovative designs Attend events, even if it’s for
designs then narrowing it to so that their fan base are your competitors; go to their
five,” Ross said. When it came to positioning always hyped about receiving events, see what they’re doing,
themselves among other the latest design in the latest don’t necessarily copy it but
“We had to go through like 20 apparel lines in T&T the guys try to improve on it. Emulate
different suppliers to see who found that their would-be colour. They also offer clients what they do well, look at
had the best quality tshirts. competitors were receptive the opportunity to request a what they’re doing wrong and
to their entry into the market. specific logo on a shirt. not do it.”

They relied on the advice and At their recent launch of
feedback from these peers to their online store, which
help them build a brand that

T&T’s ENTREPRENEURS | October 2015 7

“Specialist in Out-of-Home Advertising”

TogeOthUeTr DweOcOaRn rule

10 Gatacre Street, Woodbrook, Port of Spain, Trinidad, W.I.

1-868-221-6800 | www.pandd.net | [email protected]

Sales –“sales “

It’s no Lie!

Sales is a result. It is an outcome of Selling. Selling, trustworthy relationships, would be important to your
is a process that makes sales happen. business?

So why would one think that Sales or selling is Customers need to trust the recommendation of any
based upon lies? In my last article in this magazine you salesperson before making a decision. They need to be
would have read that the customer is now more informed, fully informed and comfortable with giving their money
and would know if or when they are being lied to. to you. It is not easy to push sales on random strangers
by giving an excellent pitch, of your products or services’
If you have a sales department in your company, I am sure features and benefits, and expect the customers to be
you have probably heard the term now being used in the convinced. They all know when they are being sold to.
industry called, “relationship selling” And nobody likes being sold to, NOBODY.

Relationship selling is exactly what is says it is. It is a If you take the time, talk with your customer, and get
salesperson developing a relationship with his/her relevant information in a conversational way, you can
clients/customers before generating any sales. pitch your solution to them in a way that they won’t feel
like they’re being sold to. Customers still need that human
For those of you who have been through my sessions touch in making a decision when buying. Your product
or have hired my services, you would have experienced or service, must be something that genuinely suits their
full, practical development of the teams, as we work on needs and gives them the results they want.
effective communication techniques, all of which, builds
that relationship. Successfully achieve this with each customer in your
database or company, and you will be known for genuinely
It is very important to form relationships with your great customer service, listening, and helping them achieve
customers. It is the foundation on which customer loyalty their results. Your sales then, won’t be lies.
and repeat purchases takes place! Think about it for a
moment. With all the hype and activity that takes place See you in the next issue of this magazine.
online, customers do all their research and even BUY
online without interacting with anyone anymore! But Carpe Diem.
within all those clicks the customer does on the computer,
there is a process of selling that goes behind that as well, to If you’d like to develop a sales strategy
convince them to click “BUY NOW”. Have you ever googled that can be incorporated as part of
a product or service and after leaving that webpage, you your brand, your company, just let
see an ad with that same product, on your search page, or me know. I’d be happy to work with
Facebook page for days or weeks after? It’s just following you in making T&T a country of
you around! Imagine that’s just one way of marketing that excellent sales and service!
pushes sales. That just a part of the process!
Adrian N. Havelock
So if you don’t have an online product or service and Business Consultant/ Sales Coach
you depend on getting customers to come in, or buy C“Soemllimngun–icIta’stioSinm” ple
from your sales executive, wouldn’t you agree that the www.adrianhavelock.com
communication techniques involved in forming genuine,

T&T’s ENTREPRENEURS | October 2015 9

Juniorpreneur

Dtectt
T ake a group of young information using a
professionals with a business device or any machine, which adds to Dtectt’s ability to
idea and a plan to change the we can help you with investigate digital threats to computer
ICT landscape in Trinidad and Tobago tracing where the
and what do you get? Thanks to the systems and in many cases identify
vision of founders Dale Joseph and Roy attack or leak could’ve perpetrators. “Trinidadians should
Chen who incorporated their business come from,” explained
idea in 2013, you get Dtectt Digital Jason Joseph in our one be concerned (of digital threats). This
Forensics Limited. A private computer on one interview. type of thing has been happening for
a while; we are now only becoming
investigations and digital forensics According to Jason, aware of it. Many individuals, large
company, the first of its kind operating these services are and small organizations in our private
in T&T, Dtectt’s early success meant and public sectors have been targeted.
inclusion of Dale’s brother Jason Joseph currently restricted
as co-owner, and Sheldon Mayers as law We have worked with organizations
to law enforcement.
enforcement liaison.
Dtectt was created
The team of four represents a cross- to provide greater
section of professional backgrounds in access to computer
IT, law and law enforcement. Together investigations tailored to meet the

they’re driving Dtectt towards charting growing needs of clients in Trinidad and

a new way forward in digital forensics in Tobago and the wider Caribbean region.

Trinidad and Tobago. “What we look at While digital forensics still remains an
emerging field in T&T and within the
is the source of any digital intrusion to region, several members of the Dtectt
team hold masters degrees in digital
your network or threat to your data. If forensics and experience in private
investigations; invaluable expertise
someone hacks into your system or your
company network, or leaks confidential

10 October 2015 | T&T’s ENTREPRENEURS

where information was being targeted necessary to discharge this type of knowledge of the digital threats to the
public. The team has dedicated itself to
or leaked from outside and even from service in accordance with international promoting digital safety online through
standards,” he said. its ongoing “Being CyberSmartt”
inside sources and we covered it. So it campaign geared towards students,
is happening a lot,” Jason said. Dtectt found that offering training parents and educators in T&T.
and awareness programs to persons
The group of entrepreneurs behind interested in IT, private investigators and Inspired by entrepreneurs such as Steve
Dtectt seized the opportunity to be the parents was an effective way to promote Jobs, Bill Gates, Mark Zuckerberg and
first private firm to offer these services its brand whilst earning capital which the Massy Group, Jason reminds aspiring
locally but it was not without its fair could be re-invested in the company. entrepreneurs that, “It is your ability to

share of challenges. Although they With goals inclusive of expanding their overcome hurdles that will determine

believed they had a better understanding services throughout the Caribbean as directly whether you fail or whether
of the local environment, had strong ties you succeed. You have to understand
to law enforcement in T&T and across well as collaborating with academic that depending on the area you chose,
the region, and were physically present you’ll find resistance within your local
versus foreign counterparts, they still institutions to offer accredited space/target market. You need to have
faced some resistance from their target professional courses, Dtectt is
experiencing growth, led by the business a very clear understanding of what you
market and key stakeholders. want, who you are and what you can do
acumen of the team. for the customer.”
“One of our challenges was convincing
not just the potential client but potential “I have always been passionate about
partners that we are not “hackers business and have held operational
for pay.” There seems to be a general and strategic positions in both the
mistrust when it comes to accessing public and private sectors. Members of
and managing personal and confidential our operational team have benefitted
information in Trinidad and Tobago in from entrepreneurial training and
particular because of some of the things mentorship through IBIS (the National
that have happened in the past,” Jason Integrated Business Incubation System)
said. and uStart, the business incubator and

He believes that when you are accelerator run by the University of
positioning yourself at an expert level, Trinidad and Tobago,” Jason said.
one of the primary challenges you face
is convincing people of your ability to Dale, Roy, Jason and Sheldon are now
effectively deliver. “Most people prefer
to engage somebody from abroad, which joined by two additional team members
at times may not be the best option
and they would cost a multiple of what Candy Saunders-Alfred who has a
you’re costing at.”
background in IT and law enforcement
Despite it all, they’ve conquered the and Richard Feveck, who holds a
trust issues faced. The group ensured masters’ degree in digital forensics,
the various publics of exactly who indicative of the upward progression of
they were and what they did, thereby their company. Dtectt has worked with
gaining public trust and confidence, oil and gas companies as well as those
implementing confidentiality in the financial sector and are proud of
agreements, and making sure everything their accomplishments in developing the
was above board.

Another challenge Jason admits that
Dtectt faced was access to sufficient
funding and investment. “As a startup
certain pieces of equipment are very
expensive and some restricted to

law enforcement only. We have to

manage relationships with suppliers
and acquire adequate investment

T&T’s ENTREPRENEURS | October 2015 11



SEniorpreneur

“A good reputation “
is more valuable
than money

Publilius Syrus

Nothing In small businesses, word of
beats a mouth goes a long way. One
good only has to look to global
name example Savile Row tailors,
to see what a good name and
Melinda Right good work can do for you.
T&T’s ENTREPRENEURS | October 2015
In TT, one such person whose
good name and good work
has built a successful career
and business is Godwin Paul,
of G Paul Sewing Machines in
San Juan.

At the age of 17, Paul began
his journey to having his own
sewing company when he
began working at Singer. “I
started at the Singer company
at age 17, at #34 Frederick St
Port of Spain. I worked there
for 12 years and then left. I
was a sewing mechanic by
training and I left and began
working at a garment factory
on Henry Street.”

Paul’s work at the then
leading garment factory in TT
in the 70s saw him increase
his skills and abilities through
his supervisory position.
After eight years at the
company Paul was again out
of work and unsure as to what
his next move would be. He
began plying his personal car

13

for hire and soon became a hit on the stand. have two cents to rub together because I life repairing machines for Singer but life
was encouraged to invest. I did not know had different plans for him.
Paul’s journey is testimony to the fact that how to tell my family that,” he said.
hard-work and sometimes serendipity And so Paul and his son manage and run a
leads to the most delicious forms of success. But necessity is indeed the mother of successful and expanded sewing machine
He was then called by Spartan Industries invention and as luck would have it, a business today, supplying and repairing
and his work there with labour saving couple of weeks later, Paul received a phone machines for all Government Agencies. He
devices- which would lessen the time spent call from a friend saying that he had sewing also has the contract to supply and service
doing particular kinds of work-made him machines for sale. He was told the machines the University of Trinidad and Tobago
an industry-wide name. would cost TT$17,000. Although he did not (UTT). “We are also into appliances, small
have the finances, Paul chanced going to the and big. I started it and it was not easy and
“I was known in all of the garment factories Bank and, again through luck, received the God took us through,” he said.
if you had a special part to do on a garment, loan to purchase the machines.
I would make the part. Soon all of the Throughout his career, he has learnt many
garment factories called for me. There was He re-conditioned the machines and sold things among them the culture of the
no one else but the tutor and myself who them at a profit. Thinking of creating a
could have done that in the 80s. Everyone stable office space for his operations, he Trinidadian consumer. “The customers
knew Mr. Paul,” he said, pride colouring his approached the owners of the building he liked to see shelves packed all the time,
voice. rented to purchase it. When he was turned especially Trinis,” he said with a slight
down his wife stepped in and approached chuckle. His good name in the business
“Then Spartan Industries established a them and they eventually said yes.
shop bringing down Pfaff sewing machines. allows him to have access to an overdraft
And I was sort of familiar with the Pfaff and Within weeks, Paul received sewing facility, although he does not use it, as well
they had me as manager of the Paff. In the machines from a company abroad, as receive goods from suppliers without
80s we had this recession and people were without paying “a cent”, and also got the expense. But there is one thing that holds
losing their business. Spartan Industries money to purchase the building which true for Paul, “in the business you can’t
was one,” he said. housed his business. It was then G Paul show that you’re greedy. I am not greedy I
Sewing Machines was born, and became a have patience.”
During the recession, Paul lost not only permanent fixture in the San Juan area.
shares since he was a minority shareholder For Paul, having his own business came
but substantial commissions which would And although, it was admittedly difficult by being in the right place at the right
have cushioned him during the tough for Paul at the beginning, financially and time. And although he might not have
economic downturn. otherwise, he pushed forward. Doing what had an entrepreneurial spirit, all of life’s
he believed he had been called to do. He experiences melded together to create what
“When I left there with my vehicle, I did not initially thought he would have spent his he has today. “God have a way of taking you
around, you would not imagine,” he said.

14 October 2015 | T&T’s ENTREPRENEURS

HONE YOUR SKILLS

3 Tips For Better Storytelling

The emphasis on analytics driven challenge. effectively captivating their audiences
digital advertising nearly destroyed through a series of structured, slow
storytelling’s role in marketing. For example, the founders of Coin, a releases of information.
device that consolidates all of your credit
However, with a new push in content cards into a single device, needed to The evolution of marketplace businesses
marketing, storytelling is making a convince customers that they wanted to like Uber, for example is very simple to
comeback. find a replacement for multiple cards and digest.
that Coin was the right solution.
After years of measuring clicks, • Car service is a challenge; the Uber
impressions, and sales, marketers now The challenge of defining your identity is app allows you to get car service with
measure effectiveness in engagement: not exclusive to early stage startups. the touch of a button.
likes, favorites, retweets, and shares.
Ranging from Radio Shack to Barnes • Taxi service is a challenge; the Uber
Marketers are learning to go beyond & Noble to MySpace, well-established app allows you to get a taxi with the
getting an audience’s attention and companies sometimes struggle to identify touch of a button.
utilizing storytelling to engage an and convey their value proposition in
audience with the actual material. light of changing market conditions. • Transporting things in a city is a
challenge; the Uber app allows you to
As Matthew Turner from The Successful Despite these challenges, a clearly get an SUV with the touch of a button.
Mistake mentions, “Every individual and defined identity is at the core of effective
every brand and every business has a storytelling. Likewise, the challenge of syncing
unique story.” computers up with all of your up to date
Foursquare’s identity was synonymous files as well as backing them up is being
Strong narratives have an impact on sales with the “check-in” and location-based solved elegantly by having another folder
and can trump data alone. Stories are an services enabling it to hold its own on your desktop, your Dropbox.
effective marketing tool and resonate against Facebook.
better with customers than data alone Tip #3: Show Me, Do Not Tell Me
because of the following attributes: Similarly, before it grew nationally, Yelp
was known for providing comprehensive You can tell me how powerful your
• Stories are easy to remember restaurant reviews in San Francisco. solution is, or you can show me how
Everyone in the Bay Area knew to check powerful it is.
• Stories provoke emotional response out Yelp before embarking on a new
delectable adventure. Which one do you think is more effective?
• Stories are shareable (on and offline)
Reid Hoffman, founder of LinkedIn, says Companies understand that examples
To illustrate, consider a University of that, “construct an identity that signals are much more powerful than empty
Michigan study where participants were to the world your core values and unique statements. We see more case studies,
told that they had a terminal illness and choices.” content marketing, and use cases to
offered a drug effective 90 percent of the back up any awards or statements the
time. The drug was then offered with a Tip #2: Stories Need a Cause and Effect company makes.
story about a single patient that took the Narrative Structure
drug that resulted in either a positive, It seems that there is a new celebrity
neutral, or a negative outcome. As attention spans shrinks, how can you testimonial daily for anything from acne
keep your audience on the edge of their treatment to weight loss programs,
With positive or neutral stories, 85–90 seat? but there is a reason companies utilize
percent of the participants opted to spokespeople: testimonials work.
take the drug. Unsurprisingly, when The cause and effect nature of story
coupled with a negative outcome story, and the revealing of certain pieces of Furthermore, providing specific ways to
the participant chose the drug only 39 information at strategic moments keep use your product are very important as
percent of the time. audiences guessing and in suspense with businesses are solving more and more
heightened stakes at each turn. niche problems and customers are too
How can we tell a better story, then? overwhelmed and busy to try and figure
It also provides the perfect subconscious it out.
We all know someone who tells a great mechanism to remember a business’
story, but figuring out how to do that in a message. Twitter and Pinterest, for example,
business context can be challenging. provide systematic onboarding for new
A simple interesting illustration is users to give them a head start into the
Below are five tips to help you tell your the Goldberg Machine, a series of community.
story and best market your company. interesting causes and effect recursively
encapsulated in a larger cause and effect. Mobile and social games also walk you
Tip #1: Clearly Define Your Identity through systematic how to play the first
Honda, State Farm, Panera, GoldieBlox, few levels, especially if the game is very
Most businesses solve a problem, Purina, and more have utilized this intricate.
however, articulating how is often the

T&T’s ENTREPRENEURS | October 2015 15

Marketing Advertising Practices (MAP)

LEARN FROM YOUR
COMPETITORS

Have you ever asked yourself: “What In brand marketing these would be listed 1. Where both you and your opponent
makes a company successful?” under galling weaknesses. are strong you can decide to accept or
to re-engineer your side. It might be
Consider a homegrown company, popular Making starts better to accept, however, since any
with the female market in the lower-to drive for gains in this case will most
middle-income bracket. Provided you’re a good businessperson likely be expensive and, thus, prove
you will realise instantly that all a pyrrhic in the long run.
It is doing a thriving business at all nine competitor has to do to completely trump
branches: always full of customers who this company is to match its strengths and 2. What they are strong in, but you are
faithfully purchase more goods in a visit then better its weaknesses. weak in, calls for corrective action
than they intended to do; not to mention on your part. Remember, quick fix in
the increased sales during certain The reason why the original company this case will mean nothing. Commit
holidays like Christmas, Valentine’s Day has not made any attempts in decades to long-term investment.
and others. of business to correct these glaring
marketing deficiencies is because it has 3. When you find your strengths and
Yet, this company stands as a good allowed itself to become what no company their weaknesses … attack!
example why it is folly to focus on sales must ever become— complacent.
as the mark of success. What about 4. Where you are both weak there is an
reputation? What about quality? Etc. That company did a wonderful thing at opportunity.
its start: moved its brand far away from
See, the very women who devotedly any existing competition, maybe into If you improve but your opponent does
spend their money there almost all share a category that no other competitor not — voilà! — you will “win the day.”
the same passionate sentiment: “We’ll inhabited.
shop there, but we hate to shop there.” In Imitation to effect
what marketing universe is that success? But after years without competitors to be
nervous about, what set in was laziness There’s a saying that goes, “Imitation is
Strengths & weaknesses and disrespect for the very target market the surest form of flattery.”
that put it where it is today.
At this point you may be wondering what You do not have to imitate your opponents
does this have to do with competitors. Here’s a practical activity you can do: per say, but learning from their strengths
and applying that learning to improve
Well let us take a walk among the above- Make a list of your company’s strengths your company is something like a form
mentioned stores target market and find and weaknesses. Make a list of your closest of copying. There is nothing wrong with
out why shoppers still go there: competitors’ strengths and weaknesses. that.
Once you finalise this information you will
• Its goods are cheap be ready to do a comparison study (you As surely as we choose our competitors
may also realise that you have to repeat the instant we choose our products or
• It is a veritable specialising one-stop- some information). service, similarly we can choose to give
shop strength to our opponents or leech from
WRITE DOWN: their strengths.
In brand marketing, these would be listed
under strengths. So now let us look at why 1. What you are very strong in/What If we choose not to acknowledge their
the clientele abhors shopping there. your competition is very strong in plusses and identify our negatives, we
can never upset the balance and give
• Customer service is non-existent 2. What your competition is very strong ourselves the upper hand.
in/What you are weak in
• In fact, sales clerks are rude, ignore You might not want to see the competition,
customers completely or may even be 3. What you are very strong in/What but do not let that stop you from looking
abusive they are weak in at them. How else can you find out what
they are up
• Customers feel the products are 4. What you are weak in/What they are to?
“watered-down” by the company, weak in
because products seem of
lesser quality than when bought The art of advantage
elsewhereCustomers leave the store
with everything they needed and It takes finesse to understand the right
more, but often feeling angry, hurt, way to seize the advantage via the latter
offended or upset data, but let us look at it.

16 October 2015 | T&T’s ENTREPRENEURS



profits

Ultimate Guide For Business Owners
to Explode Profits

B reaking News! Global / dividend income derived. A dividend Exploding Profits
depression and downturn in income of $500.00 is the true value of the
the economy, businesses going investment and not amount of stock which There are many techniques which
bankrupt with epic retrenchments. There produces the income. drastically increase profits; however this is
seems to be more bad news than good and one of my top techniques
it is easy to believe the headlines, rumors If a business owner is able to separate
and naysayers. The investment gurus true income from false valuation, profit is 1. Mastering the Formula ($5 < / > $.50)
and economic experts have not made it corrected. Real income can be defined as - Price of Shares on stock market is less
any easier and continually add “fuel to bank balances, interest income, dividend than $5.00 while the dividend income
fire” leaving gifted business owners in an income and daily sales. These are the must be above fifty cents.
atmosphere of hopelessness. only items that should be used to value
a business. Unfortunately, the corrected 2. Compound all profits – the purpose of
Interest rate in today’s economy is under valuation reduces the worth of any business this technique is not to support your
1 % , yes you saw right under 1%. In other from millions to (sometimes) thousands. daily expenses (at first), it is designed
words, the balance in your bank account The advantage of this paradigm is real to create long term wealth. All dividend
will earn a very low sum of money / wealth rather than fictitious valuations that income must be reinvested to purchase
interest. Conversely, lending rates are above may never turn into money. more stock.
10% with credit card rates above 20%.
Business essentials appear to be working Insulation of Profits – The ambition of 3. Make different Stock purchases
in contravention of business growth and business owners is to develop and start incrementally – if you have daily or
investment. businesses that are inherently different weekly income, take as much as you
from the primary business. If the primary can afford and make consistent stock
Paradigm Change – True Valuation business is food, then a small amount purchases. Repeat the same process
of seed capital should be used to start a with monthly income. Different types
Business owners are taught that profit is completely different type of business eg. of stock will insulate any reduction in
based on stock, current and fixed assets Clothing. There are always fluctuations dividend income. Incremental purchase
and investment portfolios. These are in any industry; however a completely will enable you to change investment
legally correct and should be reported as different type of business will insulate approach
per accounting requirements. In order for profits from complete degradation or
you to see business in terms or real money, stoppage. 4. Formula > Compound All Dividend
a mindset change is required. > Different Stock > Incremental
Triggering The Market Purchases > Repeat
Stock In Hand - The amount of stock in hand
is not cash and should not be given a value The purpose of marketing is not to sell Curtis Siewdass
of cash. In fact, the worth of your stock is a product; it should only be designed to
$0.00. Stock is only worth a dollar amount trigger emotions. There are many business Featured on CNC3 , CCNTV6 , IETV , IBN,
when it is sold and not before. If you value owners who do an information dump rather WINN TV , Radio Jaagrati, Isaac 98.1
stock as money, profit will be inflated than trigger emotion. Marketing is about
and the true picture of business profits the anticipation of the customer’s needs Wrote Front Page Articles For Newsday
is skewed. All fixed assets should also be and the utilization of the following Business Section
viewed as $0.00, they are also worthless
unless sold or when money is acquired via Reciprocity - Giving a gift of perceived value, Best Selling Author – How To Make More
a loan. which causes customers to feel indebted Money – Strategies For Financial Freedom
and purchase
Investment Portfolios – It is a common Advisor To Financial Sector & Government,
misconception held by business owners Social Proof – If they are getting results I Consultant
that the worth of investments is equal to will get results. This is powerful mechanism
the value of wealth. These ideas have been for sales Need To Explode Your Profits?
ingrained into the phycology of gifted
entrepreneurs; however it is very far from Emotional Triggers – Sadness, happiness, Email Curtis Siewdass (curtis.siewdass@
investment realities. As previously stated, Anger, hunger and pictures of people gmail.com)adrianhavelock.com
accounting and legal requirement must be smiling. Friendship and humanity causes
followed but a new mindset is required to people to drop their walls.
explode profits. All investments portfolios
must be considered as structural in nature Scarcity – Limited number causes people to
and given a value of $0.00. In other words, run after the product
real interest income would not exist if the
investment did not exist. The real value of There are many other ways to trigger
investment portfolios is only the interest purchases but these are few that will be
very helpful.

18 October 2015 | T&T’s ENTREPRENEURS