Monumental Report -

Page 1

Newsletter date August 2009—September 2009

Volume 1, Issue 1

Monumental Partners Limited

Special points of interest:  Is Jamaican Consulting Industry in Danger?

Monumental Report Impact of CSME on Jamaican C onsultants

 Business Development in a new environment

b y Ka h lil Ha r r is economy.

Caricom Building Jamaicans have only been allowed to vote on issues once in our entire history, rather than vote for a politician, and this was done before our independence in 1961 when the Honourable Norman Washington Manley allowed voters to decide on the issue of federation among the Caribbean Islands. History suggests we voted unanimously against federation and hence rejected the formation of a united front of the Caribbean to the world. Fast forward to present day where our current issue is the Single Market Economy SME or is it federation? At this juncture Jamaica is all for Caricom and the single market econ-

omy, while the other Caribbean Islands - especially the more economically viable Caribbean Islands - are not so enthused about being a part of a single economy with Jamaica at the forefront. How our fate has changed! An inauguration of SME poses an exceptional opportunity for Jamaica. With Jamaica being one of the largest Islands in the Caricom our labour force would receive a positive impact by providing a major workforce and thereby securing a massive growth in our economy and thus lowering our unemployment levels. As the laws are changing to facilitate free movement of labour, access is opening up to markets that are more than twice the size of the Jamaican

 Has the meaning of Marketing Changed?

This means that the SME presents the same promise to the Jamaican consulting professional through a wider market in which to operate, however, it also poses a threat with the advent of more professionals moving into our markets because of the sheer size of our industries and their volume of business compared with the markets they are coming from.

 Business Strategies  Finding Financing for your Business

SME OPPORTUNITIES It is without question that growth of the profession of consultants or for any profession in the Caribbean will increase with the Single Market Economy of Caricom. Jamaican’s have always set their sights on United States of America and while not by any means a substandard goal, pressures of post 9 -11 laws which have been established and levied against all foreign professionals, forces us to establish our strength in a

Inside this issue: SME Opportunities

2

Business Development Anyone? 2 Accessing Funding

3

Why everyone is in business development

How to apply for a loan

3

Everyone who works on a project that could grow is in business development. Everyone who works on a project that will end but could be renewed is in business development. Everyone who interacts with the customer is in business development. Everyone who supports the customer is in business development. People who never see the client, but depend on their revenue are in business development. In short, everyone is in business development.

Myth of the Entrepreneur

4

Myth of the Entrepreneur

5

How to ….

6

Marketing on a Tight Budget

7

Adverts

8

However, most people don't know it. And worse, even if they do, they don't know how to play their role in business development. Most people have a specialty, and most don't have business development in their titles. Most have education and experience in their specialty. Most don't have a clue about business development. If your business is to fulfil its potential, you've got to raise their business development skill levels. Notice that I did not say that you should turn everyone

into business developers. They have a specialty for a reason, and you need them to apply themselves to it. However, you also need them to understand how their role fits into the business development function, and how they can support it. This is most critical for those who interact with the customer. Most professional services businesses rely on their project staff for business development. Most project staff see business development as a barely necessary evil.


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.