Wealthmag i21

Tessanne’s Win Unleashes The Power Of The Diaspora Exploring The Wisynco Trade Winds Partnership

INNOVATION

CONTENTS February 2014 -March 2014

Innovation 16

Protecting Your Brand Online

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The Greener Side Of Farming

Health & Wellness 80

How to be Happy

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Forgiveness And Health

Lifestyle Technology

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Mobile Marketing: A Promising Platform for Direct Marketing Samsung Extends Galaxy Gear Compatibility to Galaxy S III, S4, Note II, and More

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Tips & Tricks For Increases In Cell Phone Battery Life

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Corporate Mingle Historic Potsdam - Heart of Prussia

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Corporate Click

Finance 30 JSE Regional Conference on Investments and the 32 36

Capital Market Hailed as a Success Legal Titbits Comany Financing Exploring The Wisynco Trade Winds Partnership

40 National Bakery Launches The 2014 ‘Bold Ones:

Career 102 7 Tips, 7 Customers, 7 Days 104 106

New Champions Of Manufacturing’ Campaign

42 Small Business 101 44 Revisiting Common Urban Legends 46 Adam & Eve Day Spa Announces Brand Ambassador Feature 66

Tessanne’s Win Unleashes The Power Of The Diaspora

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Designs By Marc Corporate Attire Solutions

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Dealing With Angry And Upset Customers Is Simple (And Can Turn Them Into Your Most Loyal Fans)

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Vox pop- What do you think should be done to improve the process of doing business in Jamaica?

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Management Lessons From Jack Welch

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Nothing in the world is more dangerous than sincere ignorance and conscientious stupidity.

- Martin Luther King Jr.

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COVER STORY

PAGE

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PUBLISHER’S NOTE Garth Walker Managing Editor

Being an entrepreneur requires a person to wear many different hats. Sometimes you have to be the marketer, the accountant, the head cook and the bottle washer, but all of that build character. All of that help to build a great business leader. In this issue, we want to recognise young entrepreneurs and all the work they have done in contributing to the growth of our economy. The featured business heads in this issue were recently recognised for their work by being named 'Moguls In The Making'. Wealth Magazine has now turned the spotlight on the next generation of business builders as they are all respected in their own right.

Business will always bring challenges, but with every challenge comes an opportunity. It’s up to you to see that opportunity because creativity will always be the order of the day when it comes to keeping a business afloat. You will never know what you can achieve unless you try. In the words of Milton Berle, “If opportunity doesn’t knock, build a door.”

Leighton Davis Managing Editor

Next up When we look at successful businesses in Jamaica we have to remember they all started somewhere; each having its own story about struggles, good days and bad. But ultimately, it's the challenges that we face that build us up to be prepared for future challenges in our businesses.

In this issue, we feature three moguls in the making, persons who have dared to take on the monster called business head on. I wish them well and Wealth Magazine will always be a platform to showcase persons who have a story that will inspire others coming behind them.

So kudos to them and to all other entrepreneurs who wake early each morning and go to bed late toiling away to build their dream of a successful business.

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Publisher

Managing Editors

The Editor’s Survey

Garth Walker Leighton Davis

One of America’s greatest entrepreneurs, Steve Jobs, once said: “I’m convinced that about half of what separates the successful entrepreneurs from the non-successful ones is pure perseverance.” As CEO of one of the world’s largest computer technology company, I’m sure he knew what he was talking about.

Four local entrepreneurs, who are featured in this edition, tell tales of how their perseverance and their passion have helped them to become CEOs of their own companies.

We are excited to delve into the minds and lives of Jason Robinson of Solar Buzz; Bianca Bartley of Peace-is of Bianca; and Marcia Nicely and her son Marc-Maurice Frankson of Designs by Marc Limited.

As is our custom, we also present other articles aimed at helping you to better manage your business and create wealth. We provide tips for those seeking jobs, advice for marketers looking to enhance their company’s brand image, as well as counsel aspiring entrepreneurs can use as they take the plunge in a world of risk, change and turbulence.

Brand Manager Simone Riley

Sales Executives Alrick Wynter Corey Scott Latoya Taylor

Cover Photography Alty Benjamin Jr

Photography Tricia Bent

Cover Design

Denieze Anderson

Cover Stylist

Happy reading!

Kerry ManWomanHome and Spokes Apparel

Monique Grange Guest Editor-in-Chief

Cover Make up

Chic Image Consultancy

Designer

Conroy Green

Proofreader

Copyright © 2014 Wealth Magazine Issue 21 All rights reserved.

May Williams

Wealth Magazine accepts no responsibility for unsolicited material. This material may not be reproduced, displayed, modified or distributed without the express prior written permission from the publishers.

Printed in Jamaica by: The Herald Printers Ltd.

Special thanks to:

Our writers, advertisers, readers, partners, family, friends and the CME Team.

For further information on Wealth Magazine, contact: Creative Media and Events 15b Trinidad Terrace, Kingston 5, Jamaica W.I. Tel: (876) 754-2075 Fax: (876)-754-2070 Cell: (876)-579-7381 info@cmeja.com

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www.wealthmagja.com

/wealthmagja

@wealthmagazine

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Contributors Laura Tanna

author of the books Baugh: Jamaica’s Master Potter and Folk Tales and Oral Histories with DVD and CD versions as well as the CD Maroon Storyteller. She does interviews and writes on art, culture and travel for various publications.

Dennis Brooks

has been a respected journalist and sociology teacher for over a decade. He has produced and presented several of the country’s top radio programmes, namelyThe Breakfast Club, The Corner, This Morning, Nationwide at Five, The Ballot Box, and Left Right & Centre, to name a few.

He has served as a communications adviser to government ministers and is guest editor-in-chief of Wealth Magazine.

Follow him on Twitter @dennisbroox

David Mullings

is co-founder and CEO of Keystone Augusta, a private investment firm based in Orlando, Florida. He can be foundat Facebook.com/davidpmullings and Twitter.com/davidmullings

Shelly Anglin is a freelance writer who has contributed to various publications over the years. She is also a communications professional, and although she has worked in a myriad of areas, writing holds a special place in her heart.

Ryan Strachan

is the manager, corporate solutions & wealth management at Stocks & Securities Limited and can be reached at rstrachan@sslinvest.com

Garth O. Williams

is often referred to as pragmatic and a critical thinker. He holds degrees in general management and economics, and law.

He is currently the assistant to the auditor general. He enjoys lively discussions on topical issues and has a keen interest in business reengineering and efficiency gains. When not working, he enjoys karate, painting, and charitable services.

is a vibrant, creative, intelligent communications professional and father. Follow him on twitter @ohGarth.

is a pension & projects consultant at BPM Financial Limited.

She is also a freelance writer who has contributed to various publications over the years.

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is a PR practitioner in the business and hospitality sectors with over 13 years experience in marketing, publicity and communications. An excellent writer and avid lifestyle blogger, Sancia enjoys reading and events planning. She is currently the PR & events coordinator at the Jamaica Business Development Corporation.

Hodine Williams

Hillary King

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Sancia Campbell

Kevin Jackson

I am an accomplished screenplay writer, animator and assistant director for Enhanced Realizm studios. I have written several narrations, music video treatments, short films, animations and a few feature length scripts since 2008.

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Premier

Lady

Janet Smythe- Currie Chief Operating Officer Choice Business Solutions

1. What inspires you?

Everything… life, people, places, possibilities... I guess all of this comes down to God. God inspires me.

2. What’s the last good piece of advice you received?

It’s not what you have that matters, it’s what you do with it.

3. Growing up, what was your dream job?

Teaching was my dream job when I was growing up. Influencing the mind of the future is fascinating and exciting.

4. If you could travel to any place where would it be and why?

Italy, I love everything I read about it. It holds a mystery that I need to understand. It’s romantic, historical and I love the food.

5. What is your dream car, and why?

Jaguar – it has class, comfort, speed, strength and reliability. It represents me.

6. After a hard day, what relaxes you?

Going to the movies with my sister and then spending quality time with my mother. It allows me to focus on the important things in life… Love, family and great friends. This keeps me centred.

7. What current projects are you working on?

This is an interesting question. I am a qualified project manager so I am always working on projects, currently the two major ones are as follows: On a personal level, techniques that can be used by persons moving into retirement that ensure that they comfortably move into the new role/way of being that allow them to be happy and to contribute to the society all that is needed from them as a result of their knowledge and experience.

On the business side, I am working on a game-changing product that will help organisations improve their people efficiency.

8. What is your favourite aspect of living in Jamaica?

My favourite aspect of Jamaica is the fact that it’s small and therefore it’s intimate. It’s like the movie Cheers. Sometimes you just want to be in a place “where everybody knows your name”. It keeps us real and true to who we are, there is no room for pretence.

INNOVATION

your W Brand Online PROTECTING

e have all heard the horror stories of identity theft and the kind of impact it has had on unsuspecting individuals, especially those who utilise the Internet for social and business purposes. As a direct result of the frequency of these illegal activities, websites such as Lifelock and protectmyid. com have been successfully introduced to protect individuals and their information online. But how do companies safeguard their company’s integrity and more important, their brands online?

It is no secret that the emergence of the worldwide web has revolutionised the way companies conduct business daily. The Internet provides businesses with unprecedented reach into new and expanding markets resulting in companies by: Sancia Campbell experiencing significant growth, renewed interest in their businesses and inevitably, increased revenues. But with this marked opportunity, there also arises the ever-present threat of cybercrimes.

With this increased usage of the ‘Net’ by

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companies and consumers, the number of avenues available for illicit activities against recognised brands continues to trend upwards. Cyber criminals use search engines, social networks, e-commerce, auction sites, email and blogs to exploit legitimate brands to their benefit. Crimes such as cyber-squatting, false claims of affiliation, phishing, pirating digital content and reputation attacks are prominent brandbending abuses which occur throughout the web.

These activities are further aided by the fact that the Internet is largely anonymous. Companies should therefore take steps to police their online portals to ensure their brands remain undamaged and that the companies' investments are protected.

Marketing your brand online is quite similar to marketing the brand offline; important however, the same brand protection strategies which apply offline must be engaged online as well. Both small and large companies are encouraged to take three main steps: register your trademark, secure the domain name, and finally be proactive about enforcement.

Registering the trademark is a given. This is the first move in protecting your brand; the company’s name, logo design, colour, tagline, theme, motto and any other identifying marks must be registered with the agency responsible for protecting trademarks. In Jamaica, the Jamaica Intellectual Property Office is the government agency responsible for this area. When you are operating online however, it means that you are open to a global market. It is suggested that you consult with a lawyer who specialises in intellectual property to ensure that you are protected in the other markets as well.

Securing your domain name is also another way to protect your online space. Several online companies provide this service in addition to hosting your website and protecting the name from being taken by another company. In securing your domain name, ensure that it is also registered to the business owner, as someone else could buy your domain name cheaply and sell it back to you later at a much higher cost. Important, always remember to renew your domain name registration.

So now that you have registered your trademark and secured your domain, just suppose some unscrupulous person decides to infringe on your brand? It is critical that you do not take this action lightly. Pursue those persons and enforce any legal action that can be taken. This is the main reason why the first steps were taken to secure your brand online.

Tracking down the perpetrators may prove difficult particularly if they are in another country, as is often the case, but your brand’s protection deserves it. It sometimes takes years to build a brand and to begin to earn value from this brand.

Engage the services of an attorney knowledgeable in the practice of intellectual property law and defend your brand’s rights.

INNOVATION

The

Greener Side of Farming

By: Hodine Williams od intended the world to be green and His world had plenty of green for all life forMs But somewhere that balance went off on a tangent. We became greedy, having little care for the resultant acute shortages of natural resources and how climate change affects all life forMs We also suffer from the effects of global warming, natural disasters, water scarcity, decrease in fossil fuels, less agricultural lands, and labour scarcity. These shortcomings have greatly hindered agricultural development in the Caribbean, particularly in Jamaica.

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What next?

It’s unfathomable why we fail to be innovators in whatever field we want. I consistently ask myself this question. We have the talent as a people and enough of the required resources to establish a health-food industry supported by greenhouse technology.

Let’s state the obvious: we are a developing country with limited financial resources, lack of political will and effort from our manufacturers and a general penchant for the traditional production iteMs Yes, we are comfortable growing what we have historically grown - banana, sugar and coffee. That’s fine with me, but why not do it better?

Why not create and supply local demand and capitalise on opportunities in the export market?

We grow tomatoes, lettuce, pepper, and cabbage, but we are plagued by issues with pests, natural disasters, germination and growth time, varying standards of products, varying temperature, irrigation and a host of other quandaries.

But suppose, just suppose we could endeavour to do something remarkably different that would solve most, if not all of those problems? Suppose we could yield multiple times the usual amount on a fraction of the land in a quarter of the time typically required? Just suppose.

The tourism sector, in its defence to purchase cheaper goods from abroad, has posited that to rely on the local

market is too risky and expensive. But what if more persons chose to do mass investments in greenhouse farming? On the supply side, the number of products on the market would surely increase, the consequential demand from consumers would see a shift in the demand for imports to at least a commensurate increase in the demand for locally produced fruits and vegetables grown free of pests, with natural fertilisers, less chemicals and at cheaper prices.

The health and wellness industry worldwide stands at approximately US$27 billion and is expected to grow exponentially in subsequent years. New diseases, along with the fight against genetically modified (GM) foods, have created a worldwide demand for organic produce.

However, with all this knowledge, it appears we are still waiting on other countries and players to set the trend.

Thereafter, we will follow suit and try to play catch up as we have always done.

We have a wealth of sunlight from which we can garner electricity to power our greenhouses if needs be. This is especially so if we are interested in growing exotic flowers which might require a controlled environment.

We could very well establish ourselves as the premier producers of peaches in this side of the world. Imagine, Jamaican-grown peaches; how cool is that? Jamaica is

a renowned global brand and the possibility of exploiting it for all it has got is unparalleled.

In St Elizabeth and Manchester, we still complain about drought, irrigation, land space and demand when we stand to benefit so much more and overcome our progressive issues that we complain about year after year.

While I admit that conventional farms are the simplest to grow food and that using artificial equipment to create ideal temperatures will require greater effort and will indeed be more expensive, the potential profits to be made is astounding. Crop yields are standard, better quality and the plants continuously produce.

We need to be innovators

I recall while living in New York, I would often scoff at hoards of persons flocking to the health-food stores ordering what I perceived to be grass. To my surprise, I walked into a supermarket and lo and behold, lemon grass for sale. The proliferation of diseases, fitness and weight concerns, and lifestyle changes are the major considerations; and many persons are now making their decisions, not only on price, but also environmental effects, sugar content, fertilisers used, preservatives, and additives. These concerns have certainly bolstered the demand for natural, organic, and nonGM foods. Juicing has become popular in Jamaica and therefore the demand is growing. But why aren’t we meeting that demand locally? Think about it again, Jamaican-grown lemon grass and kale – I would almost hazard to say it would be a must-have for athletes around the world.

After all, there must be something in our food that has caused us to produce such great sports persons. Well, if it’s not in the food, it’s in the soil, sun, water or air which in any case would be

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integral to growing any type of food we choose to produce.

From embarking on such an endeavour, we can create the necessary linkages to build this niche industry and we stand on being a leader in this field. Imagine naturally grown fresh Jamaican lettuce attractively packaged in ready-to-eat containers. If I ate vegetables I would certainly be buying. Again, imagine a juice or beverage store where you can get tasty natural smoothies and vegetable juices. It sounds good to me. At one point, health-food stores were tucked away under the steps of some mall or being sold under a shack.

However, these businesses are gaining major prominence, most having delis, bakeries, dining and 'to-go' counters.

They are strategically placed and have an ever-increasing following.

Hoteliers still continue to complain about the lack of consistency, size, quality and price of most produce. They might be willing to commit to buying from local farmers if they can correct these issues and offer quality products at lower prices.

Naysayers will be quick to detract and highlight the other associated risks, including insurance, natural disasters, praedial larceny et cetera, but if planned properly there are riskmitigating measures, such as collapsible greenhouses and supportive government policies. If this is done properly, then over time security costs would decrease.

Certainly, with greenhouse farming security concerns do not differ from those of crops in open fields.

As with any new endeavour there are always risks. However, the successes of local entrepreneurs who have embarked on this new venture have proven fruitful.

Further, there exist new possibilities and great demand both locally and in overseas markets. The grass then does not have to remain greener on the other side.

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TECHNOLOGY

MOBILE MARKETING:

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he use of mobile phones worldwide has increased phenomenally over the last few years.

This of course is as a result of the increased availability of technology and the multiple uses of mobile phones outside of ‘just talking’. Among its more popular uses are surfing the Internet, sending and receiving emails, videos, photos, documents as well as the exceedingly popular text messaging.

Jamaica, as expected, has not been left of out of this phenomenon. A 2012 World Bank report indicated that in 2010 there were approximately 3,181,995 mobile subscribers in Jamaica! This number, according to data from the Statistical Institute of Jamaica, exceeds the nation’s population count by approximately 470,519!

For the common man, these statistics may mean absolutely nothing, but for the marketer brimming with excitement over his latest innovation, they confirm that the mobile industry is a promising platform for the delivery of direct marketing messages about the many new products to enter the market.

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A Promising Platform for Direct Marketing

By: Sancia Campbell Some local companies have begun to take advantage of this new platform.

Mobile companies in particular use this platform very effectively to promote their competitions and to keep customers informed as to what is happening inside their companies. Still, there are many other businesses particularly in the micro and small business sector that have not yet grasped the concept of, or seen the benefit of mobile marketing.

Mobile marketing involves using a mobile device, such as a smartphone, to provide customers with time and location sensitive, personalised information that promotes goods, services and ideas.

There are numerous benefits for businesses to utilise mobile marketing.

Some of the more attractive reasons include the fact that it is easy to employ, convenient to use and has a huge viral potential. However, its attractive pricing and the fact that mobile marketing goes directly to the target audience are also great considerations for utilising this platform.

Speaking to the cost effectiveness of the service, chief executive officer of SMS Communications, Stephen Spence, indicates that mobile marketing

provides the highest rate of response over traditional marketing tools. Mobile marketing has a much lower CPM (cost per thousand impressions) than other traditional marketing channels. There are no set-up costs because they are integrated with your other media channels and you can begin as quickly as you think of the idea. “Doing this kind of marketing costs under J$3 and the cost gets even less based on the number of messages that are sent.”

Another major feature of mobile marketing is that it goes directly to the target market, where they are. The mobile marketing platform allows for direct interaction with users, and this is one of the most powerful facets of mobile marketing; making customers feel as if they are the only one. Remember too that mobile devices are owned by one individual who carries that device at all times. This means that customers can check the marketing messages and campaigns in real time.

Spence is encouraging micro and small business owners to go mobile as they are able to reach the right persons directly. “Spend less while reaping great responses. I call it doing more with less,” he stated.

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TECHNOLOGY

Samsung Extends Galaxy Gear Compatibility to Galaxy S III, S4, Note II, and More

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Samsung provides more users with enhanced flexibility and freedom via extended Galaxy Gear compatibility

n October last year, Samsung Electronics Co Ltd, a global leader in technology, announced that more of its devices will be compatible with Galaxy Gear, a perfect companion device that makes mobile communication easier and more enjoyable.

The company revealed that Galaxy Gear will be available for use with Galaxy S4, S III, and Note II through the Android 4.3 (Jelly Bean) update. The update came first to Galaxy S4 devices in Germany that same month.

Samsung said it also plans to extend Galaxy Gear compatibility to other Galaxy devices – including Galaxy S4 mini, S4 Active, Mega 5.8, Mega 6.3, and S4 zoom – through a separate software update. But it said software update schedules for each device will vary by country and carrier.

JK Shin, CEO and president of IT & Mobile Division, Samsung Electronics, noted that “extending Galaxy Gear compatibility to more Galaxy devices reflects our deep commitment to continuing to deliver enriched mobile experiences to our consumers”. He also noted that “through a significant effort to enhance and enrich the Galaxy experience, Samsung continues to empower our users in their mobile lives and enable smart freedom with Galaxy Gear”.

Samsung Galaxy Gear Functions Galaxy Gear will enable Galaxy S4, S III, and Note II users to make and answer calls and view incoming messages and notifications with just a glance. For a closer look at more important messages, users can

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simply pick up their master device and the Smart Relay feature instantly reveals the full content. Users can also find major social apps on Samsung Apps to maintain connections to their social networks via Galaxy Gear.

With a 1.9 megapixel camera, users can snap a visual memo by simply tapping Galaxy Gear’s screen. Photos are then easily and automatically saved in the master device’s gallery. Users can enjoy a built-in pedometer app and use Galaxy Gear to control the music played on their master devices. The device also functions like a watch, with the option to change the face with 10 different clock options and even more options available via Samsung Apps.

Android 4.3 (Jelly Bean) Samsung Galaxy S4, S III, and Note II will get the Android 4.3 (Jelly Bean) update. For Galaxy S III and Note II, new capabilities provide easier text input, and updated graphics and multimedia, as well as new updates to Samsung features and applications, including: • Samsung KNOX*, a secure and comprehensive mobile solution for enterprises and consumers. (*Galaxy S III 3G version will get Samsung KNOX with a platform security only in select countries.)

• Smart Switch to seamlessly transfer content from other smartphones to Samsung devices.

• HomeSync to store, share and enjoy content securely wherever you are.

• Group Play 2.5 with shared video support.

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TECHNOLOGY

for increases in cell phone battery life By: Leighton Williams

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martphones have become the preferred cell phones for most people today. They have become popular because most have become both business and entertainment devices in one. But with the increase in popularity have come complaints about the battery life of the devices. After all, the complaints are justified.

The old ‘flashlight’ phones of the ‘noughties’ used to go for days without being charged. A smartphone on the other hand, despite its luxurious name, seems to need charging every day and it is something that bothers many owners of the devices.

Seventy-year-old Benjamin Lloyd recently got a Samsung Galaxy S I from a neighbour who lives abroad.

Benjamin says the cell phone has to be charged every night as the battery life is short. This insistence to charge his phone nightly has been the subject of arguments between him and his wife as she insists that he might ruin the battery life.

“Every night we argue about the phone because the battery runs down by the end of the day. Sometimes it doesn’t even last the day,” he said.

Benjamin admits that he has many of the features on the phone on because his 22-year-old son uses it more often than he does.

“I always see a blue symbol on and something that a friend told me meant WiFi. Plus, my son listens to music and uses the phone occasionally to go on the Internet. So maybe that’s why,” he said.

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What Benjamin doesn’t know is that what he has mentioned as a possible explanation for his phone’s short battery life is actually the main reason.

According to Simon Hill in an article on digitaltrends.com, many of the features used on smartphones can and should be turned off.

“Turning off vibration and sound feedback for typing is a good example.

You may also find that you don’t really need to know every time a vague acquaintance posts something on Facebook or in a Google+ group that you’re part of. A lot of apps have push notifications on by default and they eat a huge amount of battery juice. They can also constantly distract you with inconsequential nonsense,” he said.

According to 30-year-old Simone Perkins, who owns a Alcatel DL600, her battery life started lasting longer when she turned off locator and dimmed her screen light.

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“Since that I have found that it lasts a little longer. It gives me a little over a day,” she added.

And Hill agrees. “Location tracking is another feature that is often left on, even though the smartphone owner is not using it. Watch out for apps that want to know your location.

If you’re not actually using the smartphone for navigation right now, then there’s very little benefit to allowing location tracking. Many smartphones come with quick settings menus that allow you to turn off features with a tap when you don’t need them. If yours doesn’t, then you’ll be able to find an app that offers this functionality. Windows Phone actually has a built-in battery saver feature which you’ll find in settings,” he said.

Of course, there are many other tips that can be used to preserve and extend the battery life on your smartphone.

And etondigital.com writer, Dejan Levi, in his blog outlines some of them.

Turn off auto sync functions for Facebook, email, Twitter etc.

The second greatest unnecessary drain on smartphone battery life is constant but pointless account sync functions for apps that most people don’t use very often. So for example, if you have Outlook, Facebook or Twitter apps

downloaded for instance, the default settings on these apps will be for them to constantly check the network for new messages and provide you with notifications. Unless you’re a very heavy user of these apps this is probably excessive.

It is recommended that you identify which apps you actually want actively checking and notifying you of updates (in my case it is only my email). Set this to sync every 15 minutes rather than round the clock. For the other apps, simply turn sync and notifications off entirely. The apps will check for new data when you open them so it will be there when you actually want to engage with it.

In between visits to the app, your handset won’t be wasting endless battery on ceaselessly checking for new messages or notifications when it actually is not that important to you whether you know of an update/message the exact same second that it is made/sent.

Set app updating only to ‘WiFi’

Another background app function which drains battery life (as well as eating through your download allowance) is when bug fixes or new versions of apps are released.

Most smartphone operating systems (OS) will have the default option to immediately update your app to the latest version – which can often happen when you are out of the house. This is often the explanation for why your battery has Cont'd on next page

dropped from 70 per cent to 30 per cent in the space of two hours while your phone has been in your pocket the whole time.

It is recommended that you go into your App Store or Google Play settings and set this app update process to ‘WiFi only’. In practice, this means that it will only download updates while you are at home and connected to your domestic WiFi. It will still sap battery, but you are better situated to give it a quick recharge if need be.

This also means that you don’t have to worry about unknowingly exceeding download limits if a big update comes out and your phone automatically downloads it over 3G or 4G without your knowledge.

that as your phone battery gets lower, your phone automatically changes its settings to reduce the rate of battery usage – meaning there’s far more chance you’ll get through the day without a dead phone.

Reduce the number of widgets

Widgets are great if you want to keep a small version of an app always open.

It allows you to know what’s inside an app at a glance of your home screen

free one which actually does a good job. Follow the above guide and it functions as a ‘manual’ and a much more effective battery life app.

Finally, something which might seem obvious and perhaps banal – but maybe try not using your phone unnecessarily if you can? You’ll then find it’s more likely to still have some juice left for when you need it.

Make use of power profiles

Most phone operating systems have different power profiles which can be configured to kick in automatically at certain times. One particularly useful feature is to set ‘power saving mode’ (or its equivalent) to come into effect whenever battery life drops below a certain percentage – perhaps something like 30 per cent. This means

without having to open the app itself. It’s great for weather apps for example, so you always have weather information prominent on the home screen. These widgets do however use more battery life if the app in question is frequently syncing with its servers.

It therefore makes sense to cut down on the number of widgets in use – especially ones which are installed as default on your phone OS, but which you may not need.

Avoid battery life extender apps

In most cases, this is just another app running all the time and draining your battery. I’ve not yet come across a

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FINANCE

JSE Regional Conference on Investments and the Capital Market Hailed as a Success

T

he Jamaica Stock Exchange (JSE) has successful concluded its 9th Regional Investments and Capital Markets Conference held under the theme, From Productivity to Prosperity: Regional Survival & Growth through Investments.

Belize; Prof Gordon Shirley, president & CEO, Port Authority of Jamaica; Bertvan Selm, IMF representative to Jamaica; among others. One of the major highpoint which gives credibility and sustainability to this event is the large number of presenters from across the world who consistently impart their knowledge to the attendees.

Prime Minister Portia Simpson Miller was the keynote speaker on Tuesday, January 21. She addressed the topic, Looking Beyond the IMF: Achieving Vision 2014. In her address, the prime minister stated that, “For us the IMF Agreement is not an end in itself, but rather a stepping stone towards achieving economic growth with equity on our way to meeting the objectives laid out in Vision 2030.

There is an indelible and undeniable link between economic growth and social development; between the quality of the economy and the quality of life of all citizens." She went on to say that in the country’s economic development, no one will be left behind.

The conference is a forum for all constituents of the financialservices sector to exchange views and develop strategies for engineering an environment to foster successful growth of the region’s capital markets. In the past nine years, this conference has attracted decision makers; CEOs; accountants; attorneys-at-law, and other business professionals from different industries from Jamaica, across the Caribbean and North America. Over the last two years, the JSE has focused on the SMEs via a Pitch Room and has encouraged these participants to “sell” their businesses to the audience comprised of seasoned investors of capital.

This year’s winner of the Pitch Room was Kelly Magnus, who presented her company, Jackmandora, to the judges and the conference participants.

The 9th Regional Conference on Investments and the Capital Market, which ran from Tuesday, January 21 through to Thursday, January 23, and which was being held for the fifth time in Kingston at the Jamaica Pegasus hotel, saw speakers such as Dr Richard Curtin, head of the Survey Research Centre, University of Michigan, USA; Giorgio Valentini, country representative of the World Bank, Jamaica; Dr Jerome Thomas, Food and Agriculture Organization representative in Jamaica, The Bahamas and

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In 2015, the JSE will be celebrating the 10th anniversary of this unique conference and has already set the dates for the conference which will run from January 27 to 29, 2015. The theme for next year’s conference is Regional Transformation Through Investments and Innovation.

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Custos Marigold Harding & Mr Ossie Harding

Pitch Room winner posed with judges L-R Sushil Juan, moderator; Omar Spence, manager, marketing programme, Scotiabank Group, Kelly Magnus (winner); Janine Taylor, JBDC; and Robin Levy, deputy GM, JSE.

Marlene Street – GM, JSE

The Most Hon Portia Simpson Miller, prime minister

FINANCE

Legal

Titbits Company Financing

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By: Alethia A. Lambert

here are two main sources of financing available to companies.

These are debt in the form of loans and equity through the issuance of shares.

Debt

A company can borrow on security of what it owns or it can borrow on what its members own. Security may take various forms, including legal mortgage over property, bill of sale over a motor vehicle or even a life insurance policy. A bank may be willing to provide a loan to a company, but will take the strongest security available for such loan.

Equity

With equity financing, persons are invited to purchase shares from a company. In exchange, the shareholder shares in any profit the business makes in the form of dividends. By issuing shares, a company may raise long-term financing, which is interest free and does not have to be repaid. The ability to issue different classes of shares, such as ordinary or preference shares, also gives a company a wider range of arrangements under which persons may invest in said company.

Nature of Shares • • • • •

Constitute personal property Transferable Unit of ownership/Proprietary Ownership Share certificate is evidence of title An asset that may be used as security for loans

The ability to raise financing is enhanced if the company can invite the public to invest and even more so, if those shares can be listed on a stock exchange. The law accommodates such an invitation, but imposes certain conditions, which are put in place to protect investors. Such

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public issues are generally associated with public companies.

A public issue of shares may be made upon incorporation as the means by which the company is capitalised from the start. It is most common, however, for a company to start off as being private and to issue shares to the public later on in the life of the company.

Some legal issues to consider when deciding on a public issue:

1. Is the company authorised to issue the shares?

Is there a clause in the constitution setting a maximum number of shares or authorised dollar amount of share capital?

Is there a need to amend the articles of incorporation of the company?

Is the issue compliant with the Companies Act? What are the required approvals and registrations?

2. What are the terms attached to the issue?

What are the rights attached to the shares?

What will be the price of each share?

Will an application be made to list the shares on the stock market?

What happens should the issue be oversubscribed or undersubscribed?

Invitations to the public to subscribe for shares are regulated by a number of rules and regulations. These rules are meant to protect the public by ensuring the provision of adequate information. It should be noted that invitations to the public to subscribe for shares must be accompanied by a prospectus which meets the requirements of companies and securities legislations.

The prospectus is intended to provide a prospective share purchaser with

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information on a company. It will typically include the company’s financial status and prospects, the issue itself and any matters that a potential shareholder would reasonably require in order to make a decision on the investment.

Generally, companies legislation may set out rules in relation to the documentation which must accompany an invitation to the public, both content of document and registration with the Registrar of Companies.

The prospectus will set out the terms of the offer, including when the subscription lists will open and close, mode of payment for shares and how share certificates will be delivered.

Care must be taken in drafting a company’s prospectus as criminal and civil liability may flow from misrepresentations.

Only public companies may issue shares to the public. Private companies cannot. The Companies Act provides that a private company means a company, which by its articles of incorporation ‘prohibits any invitation to the public to subscribe for shares of debentures of the company’.

A private company may raise capital by share issue so long as they are private placements that do not involve invitations to the public and are subject to statutory limits on membership.

A private company may go public, however, in order to offer shares to the public, several steps should be taken. First, the company must alter its articles of incorporation by way of special resolution, that is, the company resolves that it will transition from a private company to a public company.

The Companies Act provides that the resolution must be passed by a majority of no less than three-fourths

of the members entitled to vote at a general meeting of which no less than 21 days notice must be given. The notice must detail the resolution and the intention to pass it as a special resolution. After the special resolution is passed, it should be forwarded to the Registrar of Companies to be recorded within 15 days.

Second, the company must file a prospectus or statement in lieu of prospectus within 14 days of it ceasing to be a private company. A prospectus is required where the company intends to make an offer to the public within 14 days of its conversion from a private company to a public company. If no such offer is being made and no prospectus is filed, then a statement in lieu of prospectus should be filed within 14 days of conversion from a private company to a public company.

The Companies Act stipulates that a company shall not commence any business or exercise any borrowing powers until all persons who have subscribed for shares has paid for them, or a part of the purchase price of the shares has been paid.

It must be noted that on original incorporation as a public company, there is a required minimum share capital of $500,000. However, when a company is being converted from a private company to a public company, this minimum share capital is not required. Most companies often convert from a private company to a public company because the transition is considered to be easier than starting out as a public company.

There is often some confusion in regard to the difference between an issue of shares and the sale and transfer of shares. As stated earlier, the aim of a share issuance is to raise financing for a company. On the other hand, offers for sale of shares result in cash for the shareholders.

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FINANCE

Exploring the

WISYNCO

Trade Winds

partnership

“If you always do what you always did, you will always get what you always got.” - Albert Einstein

D

ubbed ‘The Innovators’, Wisynco Group Limited proved that it plans to stay on top of its game with the acquisition of a 50 percent stake in Trade Winds Citrus Limited, Jamaica’s major manufacturer of fruit juices. Under the November 2013 arrangement, the Mahfood-owned Wisynco Group got possession of half of all the assets associated with the McConnelloperated Trade Winds. The combined beverage portfolios and customer base of both companies will make it the largest non-alcoholic beverage business locally and regionally.

While not disclosing the monetary value

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of the deal, Wisynco’s Managing Director William Mahfood said the decision was an easy one to make as his company is focused on beverages, local manufacturing and giving consumers great brands. “When we looked at the opportunity we saw tremendously shared synergies in terms of values, culture, product quality and service”, he stated.

He explained that although his company distributes some 4,000 products under 110 brands, it was missing a high-end, premiumquality juice range. "We sell a lot of juices and juice drinks, but a lot of what we sell is the shelf stable products which didn't have that quality. Our customers want that diversity, but we don't have those products in our offerings, so we wanted to find a way

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...being innovative is not about developing new products or services or by inventing new things, but also about having the will to take the bold and sometimes risky step to grow your business. to enlarge our total offering" he said.

Mahfood believes the Tru Juice brand fills that void.

for growth once Trade Winds starts utilising Wisynco’s production capacity coupled with new production.

For his part, Managing Director of Trade Winds Peter McConnell noted that Wisynco has a proven track record of success and has built brands of its own as well as on the behalf of other companies. “I think their sales, marketing and distribution expertise is second to none in Jamaica; if I’m going to have a partner I want to partner with the best. The growth of the company in the last decade is also remarkable.”

McConnell said that Trade Winds is looking to take advantage of Wisynco’s significant reach. As an example, he pointed out that Tru Juice juices are sold in 250 schools, while Wisynco’s products are sold in 600 schools.

The Trade Winds Managing Director said he took the bold decision to embark on a partnership arrangement as he’s seen the success the move has brought to other companies. He stated that what’s critical is that there is a match between values and attitudes and ways of working of companies thinking to forge a partnership in any form. In a statement of agreement with McConnell, Mahfood also highlighted that both companies are highly focused on maintaining high standards and product quality.

The deal will see both companies maintaining their current business structures while operating as partners.

Mahfood explained that the aim is to enhance the current structure of both businesses. Meanwhile, his business partner admitted that it was time for a change at Trade Winds. “We’ve been doing the same thing in the same format for a long time, what we need to do now is to improve on that and have a more exciting offering.”

McConnell has expressed confidence that his equity partner will facilitate just that in a “dynamic and successful way”.

In terms of future growth, McConnell believes his company’s partnership with Wisynco will grow his existing line of business within 15 percent to 25 percent in the short-term. He also asserted that ‘the sky is the limit”

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Mahfood also explained that the partnership will result in more jobs with the increased business, increased economic activity and increased investment. “We intend to immediately look at increasing the capital investment in the business; that will come with immediate jobs. Once we do that there will be a requirement to increase the availability and the distribution of the products as we’re going to need more salespeople, more truck drivers and so on.”

Both Mahfood and McConnell believe the partnership presents a great opportunity for Wisynco and Trade Winds to take on the world.

The partnership also proves that being innovative is not about developing new products or services or by inventing new things, but also about having the will to take the bold and sometimes risky step to grow your business.

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FINANCE National Bakery Chairman, Gary 'Butch' Hendrickson, shares words of wisdom with eight Jamaican companies chosen to be a part of National Bakery’s 2014 ‘Bold Ones: New Champions of Manufacturing campaign.’

NATIONAL BAKERY LAUNCHES THE 2014 ‘BOLD ONES: NEW CHAMPIONS OF MANUFACTURING’ CAMPAIGN

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ational Bakery has honoured eight Jamaican companies as New Champions of Manufacturing as part of The Bold Ones programme which was launched on January 14, 2014, at the Jamaica Pegasus hotel in Kingston.

The bakery, which operates under the Continental Baking Company, is the leading manufacturer of baked goods in Jamaica.

Its Chairman Gary ‘Butch’ Hendrickson

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said The Bold Ones programme is the company’s way of saying thank you to those who helped to make National what it is today.

The companies which were honoured at the launch are Springvale Enterprises, Lincoln Gordon and Sons, EcoFarms Jamaica Limited, Lifespan Company Limited, Irie Rock Limited, Journey’s End Wine Company Limited, Bartley’s All in Wood and D’Nex Step Sandals and Accessories.

The Bold Ones initiative brings National Bakery’s total sponsorship of some 27 new manufacturers to almost

$90 million. Over the next six months, the selected companies will receive multimedia promotional packages, extensive advertising and publicity – including being featured graphically on the sides of National Bakery’s trucks as they traverse the island – and will be hosted by National Bakery at its pavilion at the upcoming EXPO JAMAICA 2014.

Mr Hendrickson also took the opportunity to make an appeal to the Government, particularly for the removal of duties on manufacturing inputs, citing a recent instance where

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his company having invested some J$420 million in new equipment, found itself facing additional tariffs of $80 million.

“I’m really hoping that our Government will grasp the critical importance of added value. Manufacturing creates added value, which in turn creates new jobs, and creates profits, profits drive investment, profits drive philanthropy and a better economy and quality of life for Jamaicans.”

In giving his endorsement of the 2014 Bold Ones programme, Jamaica Manufacturers’ Association President Brian Pengelley, also called for the Government to work more assiduously in reducing and eliminating costs and waste in order to create a truly business-friendly environment.

The manufacturing sector, Mr Pengelley said, remained a critical sector to the economy. It employs some 75,000 persons, earning over US$900million from exports, and contributes some 13 per cent of all taxes collected as well as eight per cent to GDP. Also speaking at the launch Private Sector Organization of Jamaica (PSOJ) President Christopher Zacca, lauded National Bakery for starting and sustaining the initiative, describing it as “a great positive start to the year".

Mr Zacca said it was long established that small and medium enterprises were key to development, particularly in transitioning economies such as Jamaica’s, as they contributed to job growth, improved innovation, and community development.

This year’s Bold Ones, being the third group chosen since 2010, had the privilege of hearing testimonials from Michelle Smith of Chocolate Dreams, and Dennis Hawkins of Spur Tree Spices who were both a part of National Bakery’s 2010 Bold Ones campaign.

Calling the programme “a dream come true”, Smith told the audience that the inclusion in the programme has had a significant positive impact on her company. “We recently completed a mini expansion at our plant, have also increased our presence in the retail market through outlets at Loshusan Supermarket in Kingston and at the Sangster International Airport in Montego Bay, and we recently completed our first export order to Antigua.”

National Bakery Chairman Gary 'Butch' Hendrickson, stands with the new ‘Bold Ones’ of manufacturing and guests after the announcement of his multi-million dollar sponsorship on Tuesday, January 14 at The Jamaica Pegasus hotel. This is the third group of new manufacturers being supported by National Bakery. From left are (back row) Sandra McLeish - Spring Vale Enterprises; Howard Coxe - Journey's End Wine Co. Ltd; Grace Foster-Reid - Eco Farms Jamaica; Dorrette Ubanks - D'Nex Step Sandals & Accessories; Devon Williams - Lifespan Co Ltd; Racquell Brown - Irie Rock Ltd; Lincoln Gordon - Lincoln Gordon & Sons; (front row) Christopher Zacca, Private Sector Organization of Jamaica (PSOJ) president; Brian Pengelley, Jamaica Manufacturers’ (JMA) president; Mr Hendrickson, Nayana Williams of Lifespan; Lacey-Ann Bartley - Bartley's All in Wood; Ann-Marie Walter-Allen, National Bakery marketing manager; Stephen Sykes, director of operations, National Bakery. These companies will benefit from National Bakery's multi-million dollar ‘Bold Ones’ marketing and mentorship package.

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FINANCE

SMALL BUSINESS 101

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t’s no secret, countries across the globe know that small businesses are a big deal. In Canada, small and medium enterprises (SMEs) make up 99.8 per cent of all companies operating in the country and they employed 89.9 per cent of private-sector employees in 2012, according to Statistics Canada.

Across the pond, in the United Kingdom SMEs accounted for 99.9 per cent of all private-sector firms and enjoyed a combined turnover of £1,600 billion based on data released by the Federation of Small Businesses at the beginning of 2013.

Earlier this year, our own Ministry of Finance noted that the island’s MSMEs (micro, small and medium enterprises) represent 88 per cent of all companies that file GCT returns, contribute to 50 per cent of the country’s GDP and employ 53 per cent of the labour force. Though many governments are busy creating environments ideal for SME growth, Jamaican entrepreneurs still face many hurdles ranging from limited credit to high energy costs

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to a 50 per cent failure rate among startups.

“The only way for our bank to succeed is if Jamaican entrepreneurs succeed,” shared Patsy Latchman-Atterbury, vice-president for Small & Medium Enterprise at Scotiabank. “We’ve really looked at our strategy over the past few years and have decided to focus on helping to make local businesses financially better off by ensuring they have access to information about the best management practices,” she revealed.

In order to assist local SMEs, Scotiabank recently held its Winning Tools to Grow Your Business seminar at its Corporate Learning Centre in Kingston. The event highlighted the current economic environment and its implications on small companies, and focused on some of the critical steps necessary for achieving business success. The session provided an opportunity for entrepreneurs to learn how to better manage their businesses and organise their lives.

Caption: Patsy Latchman-Atterbury, VP of Small and Medium Enterprises at Scotiabank as she addresses the attendees at the Scotiabank Small Business Seminar.

The only way for our bank to succeed is if Jamaican entrepreneurs succeed,

- Patsy Latchman-Atterbury,

vice-president for Small & Medium Enterprise at Scotiabank

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Vice-president for Scotiabank Investments, Jason Morris, provided an in-depth look at global powerhouses: the United States, China and the Eurozone, in order to analyse how their market conditions affect our local economy. The United States, one of our chief trading partners, is still recovering from the global economic crisis of 2008/2009. In China, manufacturing, a key statistic for growth, is currently expanding at a pace of 7 ½ per quarter, representing its lowest growth rate for the past decade. The Eurozone, which controls 27 per cent of all world trade, after a prolonged period, finally exited recession in the 2nd quarter of 2013 and is slowly trying to get back on its feet. The data suggests that the worst is seemingly over and conditions are improving, but these economies are by no means out of the woods. Our continued dependence on tourism and our desire to increase exports to the rest of the world will be directly affected by the successes and failures of these economies over the next three to five years.

Locally, the economy is still weak, but it is gradually repairing the damage made during the global economic collapse. Through the International Monetary Fund (IMF) programme, the Government is currently implementing key structural changes mandated in its agreement such as improving the ease of doing business, reforming taxation and providing better access to credit, all of which are critical to the health of the Jamaican economy.

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“Our economy has faced many challenges, but it is slowly improving,” explained Mr Morris. “We will start to see the benefits of the IMF programme in the next 12 to 18 months so now is the time to strategise and retool if you already have an existing business. Since the economy is essentially undergoing a transformation, position yourself now, during the downtime, and you’ll be ahead of the game,” he noted.

According to Action Coach Marcia Woon Choy, some of the key challenges facing local entrepreneurs include a lack of knowledge on how to run a successful business, clarity of vision as to where they are taking their business and life, not paying attention to financial statements, not hiring the right people, poor leadership skills and little or no planning for results in their business. Studies on small business owners and their families have repeatedly demonstrated that poor financial management is one of the leading causes of business failure or underperformance, family relational damage and poor physical health.

“In order to be successful, entrepreneurs must adopt a ‘can do’, positive, yes attitude,” remarked Ms Woon Choy. “Their mindset needs to be one which always sees the glass as half full, willing to make decisions quickly, not afraid to fail and one who never gives up in the pursuit of their dreams/vision for their business and life,” she disclosed.

During the seminar, Ms Woon Choy

delivered a powerful presentation about the six steps to achieving massive results in business: mastery, niche, leverage, team, synergy and results. For mastery, business owners must start with the end in mind, know where they are going and what they would like to achieve. Ultimately, the purpose of business is to get customers and keep them profitably. Consistency is the foundation for healthy growth as loyalty and repeat business bring in profits. For the next step, niche, entrepreneurs must determine their unique selling proposition and be willing to stand behind their products.

For leverage, businesses must put the right systems in place, which involve both people and assets. Building a team that is engaged and passionate about the business is also a critical part of achieving success. A winning team has strong leadership, common goals, game rules, an action plan and risk takers. The fifth step, synergy, is achieved when the business operates like a well-oiled machine and finally, when everything comes together, the company is able to enjoy great, lucrative results.

“I am always willing to learn new ways to improve my business,” pointed out Neil Saunders, one of the event’s attendees. “I found Ms Woon Choy’s presentation to be very useful, the kind of thing that needs to be taught in school. The information discussed helped to highlight where service delivery can be improved and how customers can in turn get better value so that they win and I win as well,” he commented.

Scotiabank’s Small and Medium Enterprise (SME) unit began in 2007 with the goal of assisting small business owners to better manage their operations. From startup to maturity, Scotiabank provides financial options, resources and advice that will help small businesses to be more efficient. Scotiabank recognises that small businesses are the stimulus for growth in our economy and as such has committed its resources to hosting growth workshops and seminars to aid in the development of SMEs.

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FINANCE

R urban

evisiting common

legends

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t can be assumed that the best way to determine whether something bears more truth than fiction is to examine it from all angles and then come to a conclusion.

The reality is that many of the phrases we say daily may not have a modicum of truth to them, but remain because they were never examined on merit more so than tradition and familiarity. In fairness, as an investment professional, there were a lot of things which this writer was forced to reconsider subsequent to becoming enlightened by the realities and vagaries of the capital markets in which my trade is plied. A few of these anecdotes, or nuggets of wisdom (specific to finance, as it were), will be shared today.

‘Real Estate Is The Safest Investment Available’

The first phrase is that ‘real estate is the safest investment available’.

One is tempted to challenge this statement for several reasons. The first and perhaps most glaring is the

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By: Ryan Strachan

illiquidity of any real estate portfolio, especially in Jamaica. In the best of circumstances, it would require 90 days and several nights of heartache and questions when trying to extract equity/capital from a piece of land or a building. This seems like an eternity when compared to the T+3 (3 working days) required to liquidate and ultimately receive funds from exiting holdings in a stock/bond portfolio. The differences are startling and thus force one to wonder if real estate is indeed the best investment because one can see it physically.

The other reason for this writer’s scepticism to this particular real estate adage is that of pressure on the yields, and the falling rates. For instance, a property purchased for JMD$8.5 million may rent for JMD$50,000 per month and thus yield 7 per cent per annum, which is definitely fair. Fair until one considers that as this property ages, it is likely to require additional maintenance which will have to come out of the landlord’s pockets and thus impact on her return on investment.

Further yet, real estate yields will be somewhat subject to the yields in the fixed income market in that particular

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nation and would move down a lot faster than it would move upwards.

All said, real estate is a fantastic investment, but one must be aware of the implications of holding properties and balance their interests accordingly.

‘Get Rich Quick’

The second matter to be addressed is that of one being able to ‘get rich quick’. It is particularly disconcerting to be frequently asked the question, "How can I make great returns with minimum risk?" The response usually given by yours truly tends to fall along the lines of “Sir/madam, my aim is to build portfolios, not castles in the sky!”

It is very important to manage clients' and prospects' expectations very early in the process, for the correlation between risk and reward is indeed a positive one. It is important to reinforce to all it may concern that any deviation from this formula is usually something that is too good to be true. So investors, please be wary of anything which guarantees great returns. The word

‘guarantee’ communicates that either the fund manager is in possession of a crystal ball, or that the risk is low.

The possibility of either of the two scenarios being true is remote, at best.

‘Cash is king’

Last, there is sometime truth in established sayings, and ‘cash is king’ is definitely to be counted among them. History is replete with stories of opportunistic individuals and companies which held cash and waited on the right moment to pounce. This has manifested in many ways recently, and one such example is a major Jamaican conglomerate capturing a sizeable chunk in a related company and in the process augmented their SKU portfolio. Had this company not maintained a healthy cash figure on their balance sheet, one wonders whether this transaction would have been completed as seamlessly as it was. Perhaps not, for had it been done through a bank loan, it would be more expensive to borrow the funds and

there would also have possibly been a time lapse also, and we know deals don’t like much oxygen as it tends to kill them!

This principle has manifested itself in the stock markets of home and abroad, and none is better at this than the Oracle of Omaha, Warren Buffett.

He invested $5 billion in Goldman Sachs preference shares during the 2008/09 financial crisis when nobody was touching financial companies and he was able to generate fixed returns of 10 per cent per annum (coupon rate) and he then exited profitably sometime later.

As stated, ready available cash offers advantages in terms of speed of access, and cost (being essentially nil). This also runs contrary to the real estate adage, is as liquid as it gets and can be put towards taking very attractive investment positions whenever the opportunities present themselves.

Cash is King.

Announces Brand Ambassador

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dam and Eve Day Spa has solidified a brand that represents superior customer service and has gained the confidence of their new and returning clients since inception in 2007. Managing Director Kimisha Walker stated, “Over the seven years, we made mistakes... which we quickly learnt from. We listened and continue to listen keenly to our clients. For any business to be successful it must remain relevant, that's why we continue to build on our quality service offerings... only excellence will do.”

As they continue on their journey of revolutionising the spa industry in Jamaica, another first under their belt is the announcement of a brand ambassador.

Now in its seventh year of business, the spa will take a step further on their brand-building journey and name a brand ambassador to personify all that Adam and Eve Day Spa signifies.

Walker believes that as Adam and Eve continues to penetrate their brand awareness, it was decided that there was no better way than to partner with someone who will represent the brand. The candidate’s bright personality made her a shoo in. The team also looked at the fact that she is an intelligent, hardworking

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socialite; she is able to be marketed effectively to their core audience.

Effective this month, first in the Jamaican spa industry, Cortia Bingham will serve as the inaugural brand ambassador for Adam and Eve Day Spa. As their brand ambassador, Cortia will be a spokesperson and will serve as a walking example of the Adam and Eve Day Spa experience. The team at Adam and Eve is thrilled to have her on board as a representation of its growth.

Cortia was equally elated to be announced as the brand ambassador and stated that, "In this day and age when stress looms every aspect of our lives, it is definitely important to find a way to relax and rejuvenate the mind and body.” She also went on to say, “One affordable and easy way to do so is to attend the spa ...and not just a regular spa, but one that offers personalised treatment and great customer service as Adam and Eve Day Spa delivers. I am overjoyed to be endowed with this title as I have always believed in holistic living and now I have a platform to share with others the many benefits of this lifestyle."

Cortia was sworn in as a brand ambassador at a small ceremony on location at the Adam and Eve Day Spa on February 6.

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Cortia Bingham Brand Ambassador Adam & Eve Day Spa

Kimisha Walker Managing Director Adam & Eve Day Spa

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COVER STORY 48

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By: Dennis Brooks

ore often than not, if you string together the words, ‘successful Jamaican entrepreneur’, the average man walking on Eastwood Park Road on the busiest of mornings will conjure up images in his mind of a particular picture.

Because of the history of the Jamaican economy, that average man, hurrying to catch a bus at the transport centre, will typically imagine a male of light complexion [probably of Middle Eastern, Asian or European heritage] and is navigating later-life transition.

Yes, not all of Jamaica’s successful entrepreneurs fall within this demographic. That’s why it’s called a stereotype. It doesn’t always apply.

In the past, we’ve dismantled the gender aspect of the stereotype by highlighting the women who ‘rule the roost’ of some of Jamaica’s biggest companies. In many instances, the stories we’ve told have successfully discredited the belief that the Jamaican business class is exclusively of a particular ethnic background.

However, not enough work has gone into dislodging the widely held belief that a successful Jamaican entrepreneur is an older one. With globalisation and the modernisation of business models, the timeline for qualification into the coveted ‘league of the successful’ has been truncated significantly. And that is where our focus is for our 21st publication. We’re shining the light of public attention on three young entrepreneurs with the hope that their stories will inspire others to brave the dangerous waters of entrepreneurship. We look forward to speaking with them in 2034. We trust that at that time you won’t mind if we say, “We told you so!”

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FEATURE COVER STORY

By: Dennis Brooks

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ou are walking along Midtown Manhattan’s swanky 5th Avenue.

Yes, I know you’re actually in a Kingston dentist’s office or possibly in the magazine section of your friendly neighbourhood pharmacy, pilfering a few glimpses at the latest edition of this, your favourite business-lifestyle publication. And yet, I crave your indulgence. Come with us.

We absolutely adore this part of town.

As you walk at the brisk pace that is signature of ‘The Big Apple’, glance with us into some of the boutiques that are renowned for luring the reluctant credit card out of the most frugal pocket books. If you’re curious as to how a luxury department store is run, then you’ve come to the right place. Bergdorf-Goodman has been at it since 1899 and stocks the finest in designer handbags, shoes, clothing and more.

But it’s the accessories where we begin. Names like Adrienne Landau, Alexander McQueen, and Emilio Pucci are among the select few on display.

They are few for a reason; because they’re the best. We begin here because, if she has her way, one day Bianca Bartley may just be mentioned in their elite company.

Ask her and she’ll tell you that is her end game. To have her pieces…or better yet…’peace-is’ and collections, stocked by the finest department stores and worn by some of the most discerning tastes in jewellery. However, she’ll also tell you that getting to that ultimate goal is a task of no mean order.

Straddling Multiple Worlds Some schools of thought warn prospective entrepreneurs against turning their passion into a business.

They say that when you’re extremely passionate about something, it clouds

your ability to make hard cold business decisions in the pursuit of profit. It is fair to say Bianca Bartley disagrees with this vehemently.

After reading for the BSc in psychology from the University of the West Indies, she decided to follow her artistic, rather than scientific inclinations. “I wanted to get a degree; to get that piece of paper. I really wasn’t interested in having a desk job so I was actually a makeup artist for a few years. During that time, I started to mess around with jewellery,” she explained.

In order to make your big break, when opportunities present themselves, you have to grab them. In the tumultuous period of the 2010 global economic crisis, her employer decided to wind down her business, thus presenting Bianca with an uncertain financial future. Most of us would naturally have asked, “Where will I find a job now?”

Instead, she asked, “Which job shall I create for myself?”

“I had done such good work for my boss… increasing her sales and marketing. I thought, why am I going to go and do this for someone else?

Why not do it for myself?” she revealed.

The common cliché of life’s rearview mirror offering perfect vision is applicable here, because she now realises that, while those initial bold steps were necessary, she could have exercised greater caution in making them. “I went out on my own without conforming to the conventional, textbook rules of how you should execute a successful start-up. I didn’t have any capital at all. I had maybe a month’s salary. That was basically nothing!”

Peace-ing together an Identity Bartley sees herself as the producer of lifestyle products and services. The construct might be difficult to break down given its abstract nature. But she is clear in her mind what it is she brings Cont'd on next page

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to the market…and it's more than just trinkets. “I want to create a platform to shed light on various socioeconomic issues, not only in Jamaica, but also around the world. That ties back into the themes that come out in the jewellery,” she explained.

She stresses that ‘Peace’ is a representation of her own journey through life; her experiences and those of people she’s come across become molded into artistic expressions.

“I’ve been through a very interesting journey in my life. All of my hardships and hiccups as well as my successes…

It’s important to share it with whoever I can so that they can know they actually can reach further. It is possible to overcome anything that comes to you, as long as you’re steadfast. That’s my aim for the brand through the various products.”

Conforming to Discipline

Success in the jewellery business is something that takes considerable time. Establishing your name as one synonymous with a high quality lifestyle product is usually something that happens very gradually. In order to get good at making money from your passion, you have to become able to bring your creativity under some

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measure of subjection and discipline.

Bianca explained how she’s learned to channel her creativity to meet major cycles of retail demand. “At first, I used to just work off of my vibe. But now, because I have to seriously produce for a business, I ensure I have collections that are always going, in the same way that clothing designers have a ready-to-wear line. Generally, I always have major collections for spring and summer and then I have smaller collections throughout the year.”

Sound Advice

In 2011, Bianca Bartley was made a beneficiary of the vision of one of the world’s most successful businessmen.

Richard Branson – of Virgin fame – established the Branson Centre of Entrepreneurship in beautiful Montego Bay, Jamaica. Bianca was numbered among the first batch of aspiring entrepreneurs to receive the very practical tutelage and access the business coaches and mentors, sharing their experiences and professional services. She gained exposure to crucial networks that have helped broaden her perspective and have empowered her to establish a business with a greater chance of longevity.

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The experience has been priceless and has allowed her to understand her early mistakes so much better. “I now realise that I never [started] the right way. But I still think my way was really good. I appreciate the struggle. They say you’re supposed to have three years of capital set aside when starting up. That’s not really practical in 2014.

Nobody’s going to have that!” she quipped.

She stressed that in the absence of a lot of start-up capital, creativity must reign supreme. “My lack of capital really forced me to think outside of the box. Challenges helped me be more innovative. For example, I don’t employ people full time, but I have the best goldsmiths in Jamaica working with me,” she noted.

She encourages young microentrepreneurs to utilise their network and create functional partnerships with other businesses. “I forge partnerships with persons who have the stones, combine that with my workmanship and metals and then share the proceeds.”

Another ‘peace’ of advice she shares is not to ever take ‘NO’ for an answer.

Not even from yourself. “No matter how crazy it sounds. Even if you do fail; if it turns out to be a big flop, I believe you should do it because at least you’d have learned from the failure.”

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There are many out there who are extremely frustrated in their jobs.

Although they can be sure of a salary somewhere around the 25th of every month, they still harbour dreams of braving the treacherous waters of entrepreneurship. Bianca Bartley has some firm admonitions for them, however. “If you’re getting into entrepreneurship, it's not a joke.

Don’t believe you’re going to leave your safe nine to five job and it's going to be ‘cool’ and on your own time.

Your business becomes a 48-hour day that you’re trying to fit into 24 hours.

You have to be very passionate and persevering.”

Bianca Bartley is proof that you can be honest with the market and serve customers products that are –literally and proverbially – pieces of yourself.

Although her products aren’t yet on display at Bergdorf-Goodman, there’s no doubt that these pieces are of the quality that would make the likes of Messrs Bergdorf and Goodman stand up and take notice.

As you wear fragments of Ms Bartley, know that she’s at a place of peace with those pieces of herself that she’s produced for her collectors. As you collect her ‘peace-is’, it is her fervent desire that you come to know what true peace is.

...getting into entrepreneurship, it's not a joke... ...You have to be very passionate and persevering.”

- Bianca Bartley

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Jason Robinson CEO Solar Buzz

Bianca Bartley

CEO Peace-is of Bianca

Jason Dear CEO No Brand Chemicals

COVER STORY

By: Dennis Brooks

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t is fair to say that the inbegriff of a successful entrepreneur is the ability to size up a market, identify its needs and then provide for those needs at an affordable price.

That tendency, which forms a part of the common denominator of so many stories of business success, can be readily found in chief executive officer (CEO) at Solar Buzz, Jason Robinson, within a few minutes of speaking with him.

reduce their energy costs in order to survive.

The build-out of the 360-megawatt power plant by Energy World International , with all its promised employment and energy-saving possibilities, remains confined to the imagination of many of those Jamaicans who are actually interested in the energy sector. With the Government’s failure in 2010 to successfully navigate the shift to liquefied natural gas , so many have become apathetic to the possibility that energy prices can actually be brought down. And yet, whether apathetic or bullish about Jamaica’s medium to long-term energy outlook, the impact of the cost of energy will hit every business and every household where it hurts.

As such, like it or not, actions must be taken by shrewd entrepreneurs to

His entry into entrepreneurship was not decided on a whim although few would believe he dreamed up Solar Buzz while getting in trouble for selling candy for profit back in high school. It was from those early days that it became clear in his mind that he wanted to create his own business.

As he matured, though domiciled in California at the time, he was sure he would one day return to his homeland.

It was only a matter of timing and a question of which business venture would take him there.

It’s with these kinds of stark realities in mind that we engage the Solar Buzz CEO. Indeed, he is the entrepreneur providing a much-needed lifeline for entrepreneurs… and doing a darn good job at it too! Living by the mantra, 'Do not be afraid to fail', Jason Robinson continues to buck several of the trends too many of us seem comfortable with.

Taking the plunge

Like many successful ventures, Solar Buzz is a family business. Jason revealed that it was actually his

brother Justin who helped convince him that he needed to leave the USA’s West Coast and return to Jamaica to lead the family project from the front. “My brother Justin had the idea first of an energy company in Jamaica and convinced me to start researching solar while I was living in California. Once I started looking into the possibilities of solar and energy conservation for Jamaica, we became convinced that I should move home to spearhead the company. I have always liked a business opportunity where we would be one of the pioneers plus I love anything to do with technology, and forming Solar Buzz allows me to attack both.”

Robinson admitted that it was not an easy decision to get into energy solutions. While people complain about energy costs, not enough has been done to cause a significant culture change towards energy conservation and efficiency. However, he explained that once the decision was made, considerable preparatory work was done to ensure success.

Furthermore, as he noted, there are several barriers to entry into this relatively small market. “It’s important to have a passion for anything you

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want to do especially if it’s in the energy sector. If you choose to work in energy in Jamaica then be prepared for a lot of barriers to overcome, as this field is really just developing. There aren’t any blueprints to guide you to a successful career. I’ve found roadblocks put in place by the very people who say they want to help,” Robinson explained.

Getting a Foothold

It’s admirable that Jason was never daunted by the fact that Jamaicans have not been known for having an entrenched culture of green energy.

Although we’re the land of sun, sand and sea, the prospects for solar and other renewables have never been indulged as they have in places like California and Canada. However, he believed that selling people the idea of having more of their money in their pockets would be sufficient… and it was! “People are wanting to learn more about energy saving because times have gotten harder and energy prices have gotten higher. It comes down to the bottom line. People want to have more money to put towards their mortgages, their school fees or food.”

Today, he says the response has surpassed even his expectations. “It’s been excellent. With the economy the way it is, any way that you can make more money, especially if you’re not selling more products, or save money in your household, there is interest.

Energy saving keeps gaining traction and so we try to find new solutions to problems that arise for our customers.”

The result of their hard work is that customers not only visit Solar Buzz for specific products like solar panels or water heaters, they’re now turning to this innovative young company for a wide range of services to make their homes and businesses more efficient. Solar Buzz can now provide a comprehensive energy audit of your home or business among other services geared towards transforming your home or office.

Playing Catch-Up

In spite of being happy with being

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one of the pioneers in the sector, Robinson admitted that it has been frustrating waiting for the country to catch up with the pace of our global competitors. One source of frustration has been the ‘policy inertia’ that seems to exist amongst the powers that be in the energy sector. “Nothing is what it seems in the Jamaican energy sector.

The solutions are out there yet nothing seems to ever get done to really help the country's energy crisis. I don't know what is going on at the top of the energy totem pole in Jamaica so all I can do is focus Solar Buzz on helping reduce our clients’ energy bills,” he said.

And yet, his frustration is of the more functional type. It is driving him towards doing more and being more to the people he serves, which is a lesson more of us could well afford to learn.

For him, the challenges presented by the energy sector only fuel within him and his staff a more radical approach to business. “Energy costs in Jamaica continue to skyrocket and we don’t see any help in sight for a few years to come from Government or the Jamaica Public Service Company. So educating the public on conservation is priority number one for Solar Buzz,” he declared.

Growing, Learning, Evolving

Entrepreneurship is not a static exercise.

As an entrepreneur in his mid 30s, Jason Robinson still has much to learn.

His three-year-old child has taught him many lessons over a short time. He admitted to having been somewhat naïve in the early days. “Moving back to Jamaica, I expected to just jump in and start doing solar and there’d be no problems and Government would be happy. But I’ve learned that what seems like the obvious or right way to go, is not always the course that you end up taking. Because of monopolies and political interference, there’s just going to be slower progress than anticipated.”

He said that among those lessons is a sharp sense of timing and judgement.

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Caption: Jason consults with one of his team members

“I’ve learned to be patient. I’ve learned to not give up and to diversify our offerings as a company and to really focus on the aspects that we can really become an expert in, like energy audits.

That is the foundation for fixing everything. So with patience, I’ve learned to see other options by not moving too quickly.”

Reaping the Rewards

At the end of the day, the profit motive will always be the factor most entrepreneurs use to decide whether they’ve been successful in any venture. Be it reporting to family members of shareholders, accountability is critical and empirical proof is paramount. But there is also the qualitative side of success. Jason will be the first to tell you that there is no greater satisfaction than knowing he’s done his job and done it well.

Maintaining a high standard of service delivery and empowering his clients to meet their own financial targets are, for him, among the most significant indicators of high achievement. He noted that, “By providing excellent service, products and focusing on our clients’ needs we are able to help the people who hire us to reduce their bills easily by 20 to 30 per cent before we even get to solar panels. We get emails from families who can now better afford their mortgage payments, car payments and school supplies; so that success is what drives us everyday!”

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COVER STORY

By: Dennis Brooks

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“What is in a name? That which we call a rose, by any other name would smell as sweet.”

-William Shakespeare

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illiam Shakespeare famously posed the question in Romeo and Juliet and since 1597, experts in fields far flung from each other have sought to answer it.

To those who make their living in marketing and branding, however, your name is supremely meaningful. It is often the catchy gem that keeps you resounding in the minds of potential customers. It connects you and everything you represent with the products you are bringing to the market. It is, potentially, the embodiment of the values and distinguishing characteristics of the company and its progenitors.

When Jason Dear embarked on this current dispensation of his entrepreneurial journey, he didn’t opt to turn to the obvious advantages of his own name. The route of least resistance and greatest ease doesn’t always appeal to him.

In spite of wanting to be ‘dear’ to his customers, Jason’s mission is to ensure those products aren’t so ‘dear’ that they can’t afford them.

Branding No Brand To say the least, it takes some mighty big entrepreneurial cojones to name your company ‘No Brand’ in a sharkish environment when everyone is fighting to establish themselves as the brand of choice. However, Jason explained that he was determined to offer something different.

of expensive packaging and drive more volume. “Now, No Brand is fast becoming one of the best known bulk manufacturers of chemicals and making itself into a brand name,” he elaborated.

Getting Started In order to achieve business success at a young age, it is imperative that the entrepreneur kicks on early. The learning curve is sharp and, though mistakes are inevitable, rising above those hiccups is crucial. Thankfully for Jason, he was always clear in his mind that business is where his passions resided. “Since childhood, I’ve always had a passion for creating new ideas -- some better than others -- and monetising those ideas.”

He explained that his orientation into business was not only shaped by the examples of success, but examples of failure as well. “My exposure to business really came from my family. I’ve seen my immediate and extended family in both failed businesses and very successful businesses, but no matter what happened, they’ve always been much fulfilled with their lives and their contribution to our country. So I knew from an early age that I wanted to live that kind of fulfilled life and thought business was one way to get there.”

Paying the Smart People

“The premise behind the concept of the name ‘No Brand’ is to connote a discount brand. Most people willingly or unwillingly buy or pay a higher price for goods and services because of a brand name. The discount brand concept is supposed to eliminate the cost associated with a brand name and push companies to charge a lower price to their customers.”

There is a constituency of thought that suggests that people with a good entrepreneurial mind can get pretty much any business off the ground. This might be the case of Jason Dear, because he had absolutely no background in chemistry and the other natural science. Even as far back as his days at St George’s College, his focus was always on the general business subjects; not the sciences. When he left for Canada and the United States, he majored in marketing and finance; not pure and applied sciences. So how did he become drawn towards a business of this nature?

He said No Brand Chemicals quickly decided to make the products in bulk, lower the margins, eliminate the cost

“I always knew that my thirst for new ideas would lead me in the right direction. What I needed to learn was how

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‌the key to success in business is to constantly innovate, take care of your staff, work hard, remember that cash is king, and the customer is god!

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to theoretically start and operate a business. I wouldn’t have guessed in a million years that my first successful company would be a chemical company. I actually dropped chemistry in high school, but I quickly learned that the business people didn’t need to know how to do chemistry. We pay the smart people, who are the experts to do it for them and thus the birth of No Brand Chemicals,” he explained.

Dear tells no tales of frustration in a dead-end job leading him to becoming his own boss. In fact, he has nothing but high praises for the company he credits with taking his business education to a higher level. “Getting a first-world education, working with a first-class company like GraceKennedy and having enough money saved so as to live as an entrepreneur was critical. I worked a nine to five as a stock broker from 2003 to 2010 managing a billiondollar portfolio on behalf of thousands of corporate and retail clients. That allowed me to action what I had learned in school and also showed me how a large first-class company is structured and operates,” he reflected.

However, the entrepreneurial ‘itch’ wouldn’t go away. His dreams of owning his own business continued to germinate while he was in the stable environment of an established company. He said the lessons learned have been easily transposed into his own small business, and he applies much of the same principles to No Brand Chemicals.

Support is Key The best of business ventures will fall flat in the absence of the right kind of support. The ability of the entrepreneur to pull critical support from different spheres will ultimately prove crucial in both the short and long run. If you have a good external team of an attorney, banker and accountant, then you can skip down the proverbial wicket and play some glorious shots. In Jason’s case, he could scarcely ask for a better support system. “Luckily for me, my mom/director is my banker; my wife is my attorney and my co-founding

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business partner is my accountant. As the universe would have it, everything lined itself up for me at the right time!”

Growth Beyond Expectation When businessmen and women start a new venture, they say it’s like giving birth to a new child. You have lofty dreams of how it will develop and mature and what impact it will make on the world. Yes, you want profit, but there is a certain parental anxiety that comes from hoping and praying the market will respond positively to your dream.

Jason Dear can proudly say he’s brought something to the market that has taken on. He readily admitted that the response has been beyond what even he had hoped for. “Our business’ growth has far exceeded what we realistically set out in our annual goals.

In the last three years, we have moved from a small manufacturing facility that manufactured only 10 products and products that were sold only to end users, to a manufacturing plant in 2014 that now primarily manufacturers and sells only to wholesalers, retailers, and distributors in bulk,” the proud boss revealed.

What the dynamic team at No Brand Chemicals has done is no simple task.

In their first year, production output was at only a few thousand gallons, but last year, 2013, production output was in excess of 200,000 gallons. Jason began with a staff complement of one employee in year one to 12 fulltime and part-time employees today – including sales representativess all over Jamaica.

Growth in sales of 100 per cent year over year is proof that several things at this company are being done right.

Gradually, additional controls and maintenance have been put in place to manage this growth, which is even further proof that you don’t have to be in business for decades in order to find out how to do it right.

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COVER STORY

Caption: Members of the No Brands Team

Two Cents Worth Every business can learn from the experiences of other businesses.

Regardless of what idea you are contemplating as you read this, the experience of successfully running No Brand Chemicals can teach you several things about what you might want to be leaving your safe nine-to-five job for.

Jason stressed that running a company can be a lonely and frustrating journey that demands considerable 'stick to itiveness'. “The first word that comes to my mind is perserverance. Most 'ners' e to five believe that entrepreneurship is a bed of roses and that it is easier than working for someone else. But the exact opposite is true. Before anyone makes that first step to becoming an entrepreneur, they must be willing to

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lose sleep, work 12-14 hours, seven days a week, and invest everything they have financially, physically and emotionally to be successful,” he said.

He stressed that working overtime is not an option when you’re the boss.

Taking a break from work is often an inconvenience. Jason explained, “I can almost confidently say without exaggeration that I have not taken more than a single day off or a vacation from work in three years. Christmas day 2013 was the first day I actually took off. The reality is that… you will be away from your home, family and friends more than you would ever imagine, but it is a small price to pay for a lifetime of success.”

has done well for himself because he’s willing to do the work. The overwhelming majority of all small businesses fail because absentee ownership is far too common in Jamaica. Young people don’t just wake up successful in their businesses. If you are not there to build your dream, it’s highly unlikely that anyone else will. Jason runs his business in line with the popular saying, ‘Teamwork Makes the Dream Work’ because as he emphasised, “…the key to success in business is to constantly innovate, take care of your staff, work hard, remember that cash is king, and the customer is god!”

Jason Dear is a very frank but refreshingly honest businessman who

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FEATURE

TESSANNE’S WIN

UNLEASHES

Power of Diaspora

the

T

he Voice 2013 winner Tessanne Chin has redefined impossible with her win in the singing competition.

Her win has clearly and significantly presented the enormous wealth-creation potential possessed by the diaspora when the diaspora works together. Tessanne's Voice win may have uncovered a sleeping giant in the limitless power of the diaspora to raise funds and effect positive change by utilising the latest technology and powerful social-media sites like Facebook, Linkedin and Twitter to work together wherever they may be in the world!

Raising funds for the creative industries and raising the profile of the creative industries have never been easy, as Jamaica Promotions Corporation (JAMPRO) can attest. This has always been part of JAMPRO's mandate.

JAMPRO has historically utilised the power of international partnerships/ linkages to boost Jamaican businesses in all industries, including the creative

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By: Hilary King

industries ( music, film and fashion).

Tessanne’s association with JAMPRO predates 2007.

She was part of JAMPRO's creative industries mission to MIDEM, France. MIDEM, France, is the largest music-industry trade show in the world with attendees including thousands of music professionals. Diane Edwards, JAMPRO's president, stated, “Outstanding emerging Jamaican talents like Tessanne Chin have partnered with JAMPRO to promote business and investment opportunities in Jamaica’s creative industries."

The numbers generated by the creative industries are impressive: $267 million in capital expenditure was generated in the 2012 to 2013 financial year alone.

JAMPRO’s annual report presented in the House of Representatives stated “ a further $1.2 billion in capital expenditure took place in the economy through linkages with other sectors”. JAMPRO further stated “ the creative industries, primarily in the areas of film, music and fashion, continue to represent a major industry of focus for the agency, given the growing demand for Jamaican

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culturally inspired designs and products".

The numbers confirm the revenue-generation potential of the creative industries. Nevertherless, raising funds for music projects remains difficult.

The Tessanne phenomenon will no doubt ease the way for new players to enter the industry. Bankers/financiers will still have to be convinced that music is marketable, valuable and viable.

Luckily, new players entering the music industry now have many alternative financing options, including listing on the Jamaica Stock Exchange or the Junior Stock Exchange (JSE). Other options include venture capital. The venture capitalist will need to be convinced regarding viability, cash flow and so forth, to provide funding.

Crowdfunding is a fairly new option. It allows you to upload your project and people can finance your project. The benefits of crowdfunding include: • You need not relinquish control • It forces you to be accountable and set achievable targets Some of the top crowdfunding sites include: - INDIEGOGO - KICKSTARTER - ROCKETHUB - CROWDFUNDER - FUNDABLE The options mentioned above pale in comparison to the

power of the diaspora that was effectively utilised to realise Tessanne's Voice win.

Milton Samuda, JAMPRO board chairman, stated “Tessanne Chin’s victory throws into extremely sharp focus the almost limitless dividends that investing in the creative industries can pay in the national effort to create wealth. Once again, amidst the considerable challenges that beset us, a gifted artiste has given us renewed hope that as a nation, we can overcome those challenges; renewed faith that as a people, we can beat the odds; and renewed conviction that our combined talent can earn for us robust economic growth."

Kingsley Cooper, executive chairman of Pulse Investments Limited whose JSE stock symbol is (PULS), and chairman of the entertainment and advisory board which falls under the Ministry of Tourism and Entertainment, has partnered with JAMPRO on several occasions and is intimately aware of the capacity and power of Jamaica’s creative industries to generate wealth.

The question is, will Jamaica act now to capitalise on this rare opportunity? As Kingsley Cooper stated, “Right now we need to move the sacrifice into real economic growth, this remains the very real challenge to stop the chat and act decisively NOW!!”

FEATURE

art

By G

If

ever there was an inspiring story about determination and the ability to adapt as one rolls with the punches then Designs by Marc is that story.

What started as a hobby and a backroom operation grew exponentially to become today the largest garment manufacturer in Jamaica.

When Wealth Magazine visited the Nanse Pen home of Designs by Marc Limted off Spanish Town Road in Kingston, we were greeted with warm smiles and hugs from the motherand-son pair of Marcia Nicely and Marc-Maurice Frankson who are the managing director and operations manager, respectively.

A brief tour of the facility preceded our discussion about the business, but one thing was quite clear while walking through the various sections of the factory; everyone was family. That level of comfort in the work environment makes for high productivity.

How did it all begin?

Marcia Nicely is a trained teacher who left the classroom for the greener

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pastures of being a financial adviser with a prominent local insurance company. Throughout her time as a financial adviser, Marcia’s mother, a dressmaker by trade from as far back as 1954, would sew one smashing outfit each week for her which she would pick up on Thursday evenings when visiting her mother in St Mary.

One fateful Thursday evening mom never delivered on her usual outfit.

Marcia then returned to Kingston with the fabric, purchased a sewing machine and started using the designs from the previously sewn outfits done by her mother as inspiration for new pieces.

What led Marcia to start a fashiondesigning business was an experience she had one Friday afternoon. She entered a Joseph’s fabric store wearing a dress made from fabric she had purchased there sometime before.

The impressive design of the dress caught the eye of the cashier who recognised the print, but thought the dress was made by an international designer. When Marcia revealed to the cashier that the fabric came from the store and was sewn at home by her, the cashier immediately called Mr Joseph’s attention to it.

He was so impressed he engaged her services to make a number of dresses for the upcoming Christmas season. After agreeing on a good price, Marcia went into production mode and delivered her first order of

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dresses for her first client; all this while still selling insurance.

“I was so shocked to realise upon returning to the store two weeks after delivery that all the dresses were sold out. That was truly a motivation to me and I decided that I could engage a few other stores,” she said to us with a big smile.

Her passion for fashion continued to grow while she continued in the insurance industry until a day came when her sole focus for wealth creation became fashion. After the birth of her son Marc in 1981, Marcia began seriously thinking about gaining greater control of her blossoming career. Her path to success has been filled with numerous challenges, the first of which was securing a loan for start-up.

in 1989. Both Marcia and Elizabeth Cole (her mother) were named directors and the dream of going into business had officially started to become a reality.

In the years to follow, Designs by Marc began to establish itself as a company known for well-made garments. In 1989, Marcia and her team from Designs by Marc Limited became the first local designer and garment manufacturer to sell clothes at Lee's Fifth Avenue

Photography by Nicole McCalla.

Limited™ and Ammar’s™. The company grew to include more employees and moved to a larger location from 1,500 to 3,000 square feet of factory space in 1990.

The company was no stranger to change. In 1992, Jamaica experienced a significant influx of ready-made clothing from abroad courtesy of a boom among the informal commercial Importers (higglers).

Refusing to be daunted by the rejection of her loan applications, Marcia opted to sell her car in order to secure the funds she needed to go all in.

“I had no problem selling my car because I knew I would drive again.

When we started, it was just two of us – my brother and I. My floor was my cutting board. We would cut and sew and take the pieces down to a place in Cross Roads to get them steam pressed.

There was no car so we had to use the bus as the cost for taxis would have been prohibitive.”

“It was a small team of us, I couldn’t afford to employ too many people.

I used to sell the pieces myself. As a teacher I knew how to create a methodology to sell the products; that along with my years of experience in insurance enabled me to pitch my wares to new clients in a way that they wouldn’t know how to say no to me.”

“I think it also helped that I was a tall, black woman. My presence would probably intimidate some people.

When I talked, they listened and agreed.

I can’t say I encountered any genderrelated challenges. I just knew how to sell very well.”

With business going well, Marcia officially registered the now 34-yearold business as Designs by Marc Limited

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Marcia Nicely and Marc-Maurice Frankson

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“The higglers were able to sell the ready-made items to the stores at half the price I would be able to. Since these stores are in business to make a profit, the goodwill extended to me would ultimately affect their bottom line. I had to overcome that challenge.”

That challenge was compounded by a decline in the demand for locally made iteMs Designs by Marc Limited sought other markets and so the Corporate Attire Solutions Division was born. Managing Director Nicely thought it wise to split the company into two divisions. She created a Fashion and Style Division to cater to her loyal clients of department stores and a new Corporate Division to supply a new demand for uniforms in the corporate world.

In 1993 Designs by Marc Limited began production for uniforms for such companies as Hedonism II Resorts™ and Grand Lido™.

Within a few years the clientele grew to include ICWI™, LP Azar™, Ammar’s™ and in 1997 the company landed a contract with Air Jamaica™ to produce uniforms for approximately 1200 women.

The company went on to obtain island-wide contracts for such clients as the then Workers Bank™ and Citizens Bank™ and Jamaica’s largest retail chain store Courts Jamaica Limited™ and later the National Commercial Bank.™

“Our very low staff turnover rate is part of the reason behind our high productivity. We are loyal to the brand and the brand is loyal to us all. The open-door policy of the management facilitates quick turnaround in addressing areas of concern which pop up from time to time.”

“We believe in the full development of our staff, which numbers over 100 Jamaicans. One of our most recent initiatives for our staff is that we provide rebates based on their academic performance regardless of the type of course being pursued. So let’s say they are doing a course at an accredited institution they will pay for the course upfront.

If they ace the course then we give them a full refund of the price of the course. Getting a ‘B’ results in a partial refund and so on. It’s all a part of getting our staff to work hard at improving themselves while within our employ.”

The family feel is also extended to the residents of the Nanse Pen community through the provision of school uniforms for the students and staff of the Marie Atkins Basic School.

This gesture is also extended in part to other schools and institutions whose plight is made known to the management team.

The company’s contributions to Jamaica’s business community and The company continues to grow through philanthropy have not gone and defy the negative beliefs of unnoticed. The recipient of a number Nell Robinson struts down the catwalk in a dress done by locally manufactured products. of awards and accolades, Ms Nicely Designs by Marc Recent company developments counts among her most valued include relocation to a larger trophies the National Development manufacturing facility of over 20,000 square feet of factory Foundation's Best Manufacturer's Award. space and a second manufacturing location in St Mary, managed by Elizabeth. The fashion and style division Others include: has experienced much success from increased sales at - JMA Champion Exporter award in small-business category local department stores and Caribbean Fashion Week in - JMA Product Group Award, Best in Textile and Sewn association with the Pulse Entertainment Group™.

Products awarded to the company over 7 consecutive years - JEF Employee of Choice award As part of the company’s strategy for growth and continuity - 2009 & 2010 HIV/AIDS Advocacy in the Workplace award Marc-Maurice Frankson, Marcia’s son, the man after whom the company is named, became a part of the management Design by Marc’s business offerings go beyond the shores of team upon completion of his tertiary studies in the United Jamaica extending to over five CARICOM nations and there States. He serves as the operations manager though the are plans to expand even further. scope of his duties goes way beyond the job title.

Marc also pointed out that he learned from his mother Marc highlighted to us that, “I’m not limited in what I do here. and grandmother who never see challenges as a negative This is my legacy and the staff is my family. We engender a matter. “They view every challenge as a source of motivation family feel here. As we celebrate 25 years, I’m happy to say to work harder and achieve more goals.” that there are persons here who have been with us since day one. Most of our staff have been with us on average five to Designs By Marc boldly embraces the challenges of business 10 years.” as they use it to constantly evolve.

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Management lessons from

F

ormer CEO of General Electric (GE) and author of the book, Winning, Jack Welch, is one of the global CEOs I have admired for some time and was an important figure in my MBA programme.

He was a guest presenter at Mega Partnering 8 in Orlando, Florida, recently and I was fortunate to be able to attend. I also made sure to take copious notes which I then shared on my Facebook page at Facebook.com/ davidpmullings so that I could pay it forward and help others.

The most important lesson from his presentation for me had to do with managing people and how to get the best performance from your company. He said that a CEO must set

FEATURE

Jack Welch

By: David Mullings

a clear mission of where we are going and then set the strategy for how we will get there and get every employee on board.

He pointed out that there is a "generosity gene" out there where leaders love to give salary increases, love to promote people and love people to succeed. "You don't want a boss who's skimpy and cheap, who's not interested in your well-being," he added.

In his 21 years as head of GE, there was never a single strike. This was because he had regular lunch dates with the union representatives. He explained that "you have to be dating long before a crisis is on the table" and added that US President Barack Obama is having trouble with Congress because they only talk when there is a crisis.

The most shocking revelation for

me was his take on performance appraisals, which many of us have been through. Many of us have been in roles where we felt the appraisal was phony. We've seen companies just fire people without letting them know beforehand what areas they needed to improve on. Jack Welch, one of the greatest modern day CEOs, considers that poor management and leadership. He said, "If you are not telling people at most quarterly, what you like that they are doing and what needs to be improved on, then you do not deserve to be a leader."

Wow He also explained that "when someone says that they are too kind to tell people something to their face, they are really a coward. You must do candid appraisals often. Be upfront about what they can improve on�.

Welch pointed out that no one who ever worked directly for him was ever surprised when they had to leave. In fact, most came to him to say they knew they were underperforming and asked how long they had to shape up or ship out.

There is no doubt in my mind that all of us aspiring to be leaders of great organisations, no matter what size, can learn from this advice. We can also apply these lessons to other things such as non-profits, a marriage or a football team.

In the next issue I will share Welch's thoughts on firing the bottom 10 per cent of performers every year, a tactic I did not agree with until he explained it in detail.

Jack Welch

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FEATURE

Dealing with

Angry and Upset Customers is Simple

(and can turn them into your most loyal fans)

by: Nick Abbott

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o why are most of us so bad at it? Of course, being simple does not mean that it is easy, it is actually quite hard. It requires certain skills, but skills can be learned, skills can be practised and skills can be mastered.

First you have to understand just how emotional we are, sure we think that we are logical, but we’re really not. We make decisions based on emotion and then use logic to justify these decisions to ourselves.

When it comes to angry customers we have the emotions of both the customer, who is distressed and annoyed, and those of the business owner, manager or employee, who has an emotional need to be right, to save face, is fearful or is angry herself.

This is why so many conversations with irate customers go so badly. You or your employee interrupts the customer who simply won’t listen to reason and who doesn’t understand what you are trying to tell him. If only the customer would listen and see things from your perspective she’ll surely understand and see reason.

Well, if that’s what you think then I have three words for you: wrong, wrong, wrong! In case I didn’t make my point: it’s wrong.

Now that those who are not interested in growing their businesses by having great relationships with their customers have stopped reading, I’ll share with the rest of you the simple techniques for successfully dealing with an upset customer.

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The golden rule for handling angry customers is 'Passion before Reason'.

What this means is that you have to deal with the customer’s emotions before you can start on the facts of the matter.

Until you do this, your customer is simply not in a place to process facts or information. I tell my students that you have to earn the right to deal with the details of the complaint and the way you do that is to first handle the customer’s emotions. So here we go:

First, deal with the emotions Step 1: Ask the customer to tell you about his entire experience:

“Please tell me what happened Mr Brown” or “How did we upset you Ms Whyte?”

You let the customer vent and you do not interrupt, although you can give verbal clues that you are listening through using an occasional “Aha” or “I see”.

If it is over the phone I strongly urge you to take notes so that later you can use some of the customer’s exact words to show that you have been listening.

Step 2: Show that you acknowledge the customer’s feelings:

“I understand your frustration Ms Edwards” or “I am sure that I would feel the same in your position.”

You are not accepting blame or responsibility; you are acknowledging the customer’s feelings and showing that you care about the customer.

Step 4: Offer a solution:

“What I can do for you is……” or “With your permission Mr Hamilton, I would like to…..”

You don’t just offer a solution; you want to sell it to the customer by explaining how it will resolve the issue and meet his needs; asking permission can increase the chances of you getting the customer’s buy in. This should be a two-way conversation and you have to confirm that the customer understands and accepts your solution which will sometimes mean there will be some negotiation.

Remember that your language should be positive and focus on what you can do. Nobody is interested in what you can’t do.

Step 5: Bring the conversation to a close:

Review the emotions and facts of the

“It seems that we have finally sorted out the problem with your bill, so you shouldn’t experience this issue again.”

“So twice we failed to deliver the items as promised and no one called to tell you what was happening and this is why you are upset.”

You want to leave the customer feeling that you care about his feelings, not just about the problem.

Step 3:

situation:

This is where you can repeat some of the customer’s own words or phrases. When the customer agrees with you or says “Yes”, you have proven to her that you have been listening, that you care and that you are there to solve the problem.

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Now you can start handling the facts!

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Step 6: Thank the customer and apologise again: “Mrs Smith, I would like to thank you for calling and allowing me to help with this situation. I’m very sorry that you had to go through the whole experience.”

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Cont'd Again, your intention is to show that you care and understand. You are not necessarily admitting that you did anything wrong.

Like other skills, you and your staff can learn how to handle angry customers and become really good at it by practising.

The best way is to conduct role plays with your team and if they don’t like role plays, call them Service Simulation. As you talk to your staff, regularly ask questions such as, “What does passion before reason mean?” or “What is the golden rule of dealing with angry and upset customers?”

There are a few final pointers I would like to add. First, if you successfully deal with the anger and emotions, but after starting to address the issue your customer becomes upset again, you have to go back and deal with the emotions again before you can continue to address the core issue.

Second, unless you work in insurance, please ban the word policy from your place of work. A valid policy will always

have a good reason behind it and you should be prepared to explain the reason not just say “It’s our policy”. If you can’t come up with a good reason you should probably scrap or change the policy.

Finally, when it comes to apologies you have to sound genuine. Have you noticed how so many call centre reps sound insincere when they apologise? To avoid this make sure that you say why you are apologising. So instead of the robotic (please don’t let me get started on robotic call centre responses) “I must apologise for that” say “I am sorry that you are upset about your meal”.

Even the best companies sometimes disappoint and upset customers. What sets the great companies apart from the rest is how they handle these situations. If you can show irate customers that you understand, care and want to solve their issues you can change from them being angry into your most loyal fans.

What do you think should be done to improve the process of doing business in Jamaica?

One of the first improvements I’d like to see is the turnaround time to do transactions with key institutions, primarily government bodies. The other important factor has to do with the stability of the currency. It’s very difficult for anybody in this environment to really plan long-term and be accurate with their projection in an environment with an unstable currency. The other aspect is that we have to find ways from a policy-maker standpoint to reduce the level of unemployment so that your crime rate is reduced and your security costs are also reduced.

Claudette Crooks-Collie, president – Money Masters Limited

To improve the business climate in Jamaica we want to do a number of things; some of which have started and it would just mean implementing and following through. Some of the things would include shortening the approvals process, reducing the cost of energy, improving the taxation system and increasing the capacity of local manufacturers and producers to produce more particularly for the export market. A fifth thing of course is to reduce crime and the levels of corruption in the Jamaican society which would make it more attractive to do business.

Wayne Henry, vice-president – Government Affairs, Scotia Group Jamaica Limted Doing business in Jamaica has become a burden simply because there is too much red-tape involved in being able to start up businesses. We also have problems with access to credit so you have a number of persons who have very good ideas but because they have no way of actually funding their ideas they don’t get acted on. So what we really need to do is to have systems in place where the access to credit is improved and that we have less red-tape in starting up a business. The efforts now at putting in place what they call a ‘superform’ would go a far way in helping to do business. Another important thing is to deal with the question of taxation which doesn’t make us as competitive as we could be.

Helene Davis-Whyte, general secretary – Jamaica Association of Local Government Officers I think the most important thing is to really look at the processes involved in registering a company and applying for approvals for development. I would say that things like registering a company, applying for a company name, finding out all the taxes that are to be paid (especially if you’re overseas); I think those you can speed up and think of having all in one place. I’m sure it doesn’t have to take the length of time it takes between applying and starting a development.

Errol Gregory, Lecturer – University of Technology and Financial Analyst

The process of doing business in Jamaica is often challenging, but with the ‘superform’ that was recently launched, the registration side of business is easier. What this form should include is the Parish Council fee for putting up a sign. The filing of taxes is also easier, as it can be filed online, just that the percentages are still too high for micro-businesses trying to stay afloat. Overall the process has gotten easier but the costing is a killer and, also the Company Office of Jamaica needs to partner with tax offices in being points of registration. It is hard to travel into Kingston to register.

Wainsworth Austin - entrepreneur

Image source: jamaica-gleaner.com/‎

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HEALTH & WELLNESS

Happy ow to be

By:Shelly Anglin

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ou might never have thought about it, but do you know how to be happy? Is happiness something that you are well acquainted with or are you still waiting to find your happily ever after?

You may think, as so many do, that happiness comes from being born rich or beautiful or having a good job or even living a life free from stress.

However, the reality is that people who have wealth, beauty, a good job or less stress are not happier on average than those of who do not have these.

And despite what fairy tales depict, happiness does not appear as if by magic. It's not something that happens to you. The experts say that all indicators point to the source of the bulk happiness resulting from the state of an individual’s personality and, more importantly, thoughts and behaviours that can be changed. In other words, happiness is cultivated. It is the sum of your life choices.If you are ready to take the plunge here are some time (and people) tested ways to become a happy person.

Make an Investment in Relationships

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The happiest people on the planet are the ones who have deep, meaningful relationships.

Surround yourself with happy people. Joy is contagious, so being around content people buoys your own mood. Friends and family help you celebrate successes and support you in times of difficulties. Yes, it's easy to take them for granted, but these relationships need nurturing.

So build up your emotional ‘account’ with kind actions and words. Be gracious and careful when criticising others. Let people know that you appreciate what they do for you or even just that you're glad they're a part of your life. In addition, make actual physical contact with persons. While social media keeps us in touch, it doesn't allow us to physically touch someone, an act which results in warm feelings and decreases feelings of anxiety.

Express Gratitude

Gratitude is more than saying thank you.

It's a sense of appreciation, wonder, and thankfulness for life. Often, it takes a tragic event or a serious illness to jolt people into appreciating the good in their lives. Don't wait for this, but commit yourself today to practice gratitude. Each day identify at least one thing that enriches your life. When you find yourself thinking an ungrateful thought, substitute it for a grateful one. For example, replace "my aunt forgot my birthday" with "my aunt has always been there for me in tough times”.

Cultivate Optimism

Practice seeing the positive side of things.

You need not let the negatives colour your whole outlook on life. If you're not naturally an optimistic person, it may take some time for you to change your pessimistic way of thinking.

Begin by recognising negative thoughts as they occur. Then step back and ask yourself a few key questions: Is the situation as bad as it seems? Is there an alternative way of looking at the situation? What can I learn from this experience that will be of future use?

Steer Clear from Overthinking and Social Comparison

Comparing yourself to others can be poisonous. This can lead to either having an unhealthy sense of superiority, or the opposite

where we discredit the hard work that we've done and dismiss all the progress that we've made. It’s best to compete with yourself as you work to push yourself to continuously improve.

Find your Purpose in Life

Persons who strive to fulfill a mission or meet a goal in life – whether it’s helping the homeless, growing a garden, or caring for children – are happier than those who don't. Goals provide a sense of purpose, bring people together and bolster self-esteem. The goal itself is not as important as the meaningfulness to you of the process of working towards it. So try to align your daily activities with the long-term meaning and purpose of your life.

Live in the Now Moment

Don't postpone joy waiting for the ‘perfect’ day when your life is less stressful or less busy.

You may be waiting in vain. Instead, enjoy the small pleasures of everyday life. Focus on the positive in the now moment and don’t waste time dwelling on the past or worrying about the future.

Practice Acts of Kindness

Practicing acts of kindness releases serotonin in the brain. Serotonin is a substance that gives us a blissful feeling. Selflessly helping someone is a super powerful way to feel good inside. What's even better about this kindness kick is that not only will you feel better, but so will people experiencing the act of kindness.

How extraordinary is that?

Develop Coping Mechanisms

How you respond to the bad moments is what shapes your character. It helps to be prepared for those times, so have healthy strategies for coping prerehearsed, on-call, and at your fingertips.

Forgive. Harbouring feelings of hatred is like poison to your soul. Your mind doesn't know the difference between past and present emotion. When you ‘hate’ someone, you are continuously thinking about it. These toxic, negative emotions put you in a down state and it stays with you throughout your day.

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Cont'd

Savour Life's Joys Deep happiness cannot exist if you don’t slow down to enjoy the joy. It's easy in a world of wild stimuli, multitasking and instant everything, to forget to embrace life's enjoyable experiences. When we neglect to appreciate, we rob ourselves. It's the simple things in life that can be the most rewarding if we pause to fully experience them.

LOL. Laughter is the best medicine. A good, old-fashioned chuckle also releases serotonin, giving the exuberant buzz we seek, making humans better equipped to tolerate both stress and pain. Research has shown that some of the benefits associated with working out, like improved cholesterol, a healthy immune system, and controlled appetite can also be achieved through laughter.

As the old saying goes, “Life is what you make it," so armed with the knowledge of the secret to happiness, make it your quest today to be happy!

HEALTH & WELLNESS

HEALTH & WELLNESS

Forgiveness and your health

By: Lancelot Tucker

T

here are a number of things you may experience that might ruin your health; not forgiving someone who has hurt you is one of them. Harbouring a grudge can mess up your physical health and greatly weaken your spiritual well-being as well. Ignoring the need to heal a relationship that has gone sour can result in serious complications for you and the person who has wronged you. However, readily forgiving a wrong can help you reach a state of physical, emotional and spiritual well-being in spirit, soul and body.

In addition, having wealth at your fingertips does not guarantee good health.

You may be the wealthiest person in the world; yet still, you are the most miserable and unhappy human on the planet due to the fact that you are still carrying around resentment against someone. Not being able to forgive a wrong done to you can result in poor health.

Defining forgiveness

What is forgiveness? Forgiveness is defined as the act of not physically or emotionally getting back at anyone in any way whatsoever who has done you harm. If you hold a grudge against someone in any way, you will find yourself thinking of revenging the harm done to you. Your mind will not feel free to think good of the person and neither will you feel comfortable being around him or her.

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Benefits of forgiving reaching a state of forgiveness will allow you to reap a number of benefits that will help your body heal, restore youth and strengthen your spirit. One such benefit is the reward of establishing a healthy relationship with the individual who has done you harm. Encouraging negative feelings of bitterness, anger and revenge will only make matters worse. Neither should you act in malicious ways to the wrongdoer.

Forgiving someone easily will help to lower anxiety, stress and hostility that often cause your body to decrease in health. These adverse conditions can feed your body with the wrong signs; thus, producing high blood pressure, depression and other destroying elements in your body.

Forgiving someone can also keep you from becoming an alcoholic or substance abuser. Sometimes people who do not forgive others turn to alcohol and drugs to vent their frustration. Easily forgiving someone will help you to resist negative feelings against the individual that would otherwise cause you to turn to the wrong things for satisfaction, which eventually will work against your body chemistry.

for any wrongs he or she might have done you, you set up yourself for greater spiritual security and superior psychological endurance in your life.

This will make you feel at peace not only with the person, but also with everyone you come in contact with. In addition, you will experience a great freedom and satisfaction in wishing the best for the wrongdoer. Furthermore, you will experience a peace with God, which is far beyond your natural understanding.

Letting go of the hurt and forgiving others can spare you the pain of having a heart attack, stroke, nervous breakdown or other complications that will cause body dysfunctions. Living a life free of resentment will let your spirit soar and cause you to become a healthier you.

Attaining a state of forgiveness

View forgiveness as a process that takes time to heal...

To reach a state of forgiveness will take determination on your part. Since we all differ in endurance, reaching a state of forgiveness may be difficult for some people while it may be easy for others.

People who find it a difficult task to forgive others should take the process of forgiveness one step at a time.

When you readily forgive someone

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THE ULTIMATE IN HIGH-PERFORMANCE AUTOCARE

White Marl, St. Catherine (Off Mandela Highway)

Tel: (876) 984-7918-20 . Fax: (876) 984-5914 Store Hours: Mon. - Fri.: 8:30am - 5pm Sat.: 9am - 6pm / Closed Sun.

Step 1:

View forgiveness as a process that takes time to heal and not as a quick first-aid bandage to cover the injury.

During this time of contemplation, he or she can do a check on the amount of things that can go wrong in his or her body as well as social association with friends and family members because of holding on to resentment. If you do not let go of ill-feelings towards others, you will eventually find yourself going through life being sick, unhappy miserable, and always blaming and finding faults with those around you.

Step 2:

Reflect on how the problem came about. Who knows, you might realise that you are the one who is at fault and not the other person. This realisation will help you to see how childish you have been acting and will make you want to change your actions quickly for the better.

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Step 3:

Reflect on the action/s you took when the problem presented itself. What were your actions like? Were they done in a praise worthy and sensible way?

Were you rude or did you display a boisterous attitude towards the person who did you wrong?

How to forgive others

The act of forgiving sometimes involves a lot of will power. The first step is to admit that you are hurting (after all you are still human). You then should move to get rid of the hurt by doing one or a number of things. One way you can heal yourself of the hurt is by going to the person and making peace with him or her. However, you must watch your actions when you are speaking to the person lest you turn him or her off and instead of healing the situation, you only end up making things worse.

For those persons who are believers in God, they can take the problem to Him in prayer before approaching

the person who they think did them harm. While in prayer, you should empty yourself of every pride and stop blaming the person. You should carry out a serious soul-searching process to determine if any fault, anger, or resentment is present in you. If you should find any of these things in you, then you should ask God to empty you of them, thus, making your mind clear to move ahead with making things right with the person.

What if the person refuses to cooperate and put things right? This is not a problem on your part. The most important thing is that you did everything possible in your power to set things right. Still, the person might be angry and resentful towards you.

However, because you have freed yourself of all ill-feelings against him or her, your life will not be miserable or unhappy. Instead, you are able to enjoy life to its fullest and reach a place of fruitfulness. Why not forgive someone today?

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Sponsored By

Jan. 31, 2014

Creative Media and Events Managing Director Leighton Davis as he greets attendees at the Corporate Mingle welcome table.

There's a first time for everything. Panelists at the Cuso International Corporate Mingle were all in attendance for the first time, solidifying the fact that Corporate Mingle is still the leader in business networking events. (L-R) Saffrey Brown, general manager, JN Foundation; Professor Neville Ying; Hon Lisa Hanna, and Cuso Country Representative Tarik Perkins.

Members of the Cuso international team came out to Corporate Mingle in full force. If you would like to volunteer, you can visit the Cuso website here: http://cusointernational.org/volunteer

Saffrey Brown, general manager, JN Foundation, shares lens time with Winsome Wilkins, CEO, Council of Voluntary Services.

Networking with a Purpose

Cuso International country representative Tarik Perkins as he addresses attendees at Corporate Mingle.

Creative Media and Events Managing Director Leighton Davis and KLE Group's Gary Matalon at the recent Corporate Mingle.

The JIIC team rolls out in numbers! Governance and Strategy Manager Jordon Tait, Business Development Manager Winsome Gibbs, and Customer Service Associate Delando Thrope share lens time with Wealth Magazine Brand Manager Simone Riley (2nd left).

Hon Lisa Hanna, minister of youth and culture, speaking on youth and how outside influences affect them in the diaspora.

Tarik Perkins, Cuso Country Representative as he takes information from a perspective volunteer. Cuso is an international development organization that works to reduce poverty and inequality through the efforts of skilled volunteers.

Sponsored By

Wealth Access Financial General Manager Debbie Horne talks business with a Corporate Mingle attendee. Wealth Access is a microfinance institution that offers loans for both personal and business purposes.

From left Hon Lisa Hanna, Wealth Magazine Chairman Garth Walker and KFC's Marketing Director Tina Myers-Matalon. KFC's parent company, Restaurants of Jamaica was a proud associate sponsor.

Smile for the camera! Don't the panelists seem to be happy? We think so. Panelists include (from left) Saffrey Brown, general manager, JN Foundation; Professor Neville Ying; Hon Lisa Hanna, and Cuso Country Representative Tarik Perkins.

Networking with a Purpose

Jan. 31, 2014

KFC's Marketing Director Tina Myers-Matalon being interviewed by Wealth Magazine Business Access host Allison Watson at the recent Corporate Mingle.

LIFESTYLE

Historic Potsdam

- Heart of Prussia

By Laura Tanna

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Cecilienhof, site of the Potsdam Conference in 1945

ith your wealth, one day you'll surely v i s i t Berlin, capital of the Federal Republic of Germany, Europe's economic powerhouse. But just 17 miles southwest of Berlin, perfect for a day trip, is historic Potsdam, a small city of 140,000, where the Hohenzollern dynasty held sway from 1415, reaching their pinnacle with Frederic the Great who ruled from 1740 to 1786, overcoming Austria and doubling the size of his Prussian Empire. If there's one word in German you'll learn, it is Schloss, a castle or palace, because so many abound in this land of fairy tales and warfare.

Hauptbahnhof central train station, or hire delightful Olaf Gollnow, a taxi driver whose sightseeing tours in Berlin and Potsdam are a marvel. Recommended by our hotel concierge, we spent seven hours with Olaf and enjoyed his company as much as the sights he showed us!

E-mail: Olafgollnow@web.de.

As we drove out of Berlin, which is surrounded by what was once communist East Germany until reunification in October 1990, just prior to the collapse of the Soviet Union in 1991, he pointed out Sovietstyle architecture along the route as we made our first stop at Glienicker Bridge, famed in Cold War films as the exchange point for spies between East Germany and West Berlin. This is where exchanges took place, not at Check Point Charlie.

Once the home of the German kaiser or king until 1918 when World War I ended in defeat for Germany, Potsdam is now the capital of the Federal State of Brandenburg and famous Schloss Sanssouci, Germany's largest World Heritage Site. Just 45 minutes by train or car, you can either take the S-Bahn train leaving every 10 minutes from Berlin's modern

Schloss Babelsberg across the water to our left, built for Kaiser Wilhelm I in 1833-35, is an amazing neogothic castle which now houses the Museum of Pre-History. In Babelsberg Park you can tour old sets of Babelsberg Film Studio where Greta Garbo and Marlene Dietrich once reigned. Today, it is a major European film production centre and college.

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Cont'd Olaf took us next to Alexandrowka, an enclave of Russian dachas built to accommodate Russian immigrants in 1825-26, along with an Orthodox Church. A Russian choir was established in 1812 and these wooden homes were ultimately built for them. The Edict of Potsdam, issued in 1685 by Frederick Wilheim, the Great Elector, proclaimed that French Calvinists or Huguenots, whom he referred to as "our co-religionists of the Evangelical-Reformed faith�, who were persecuted in Catholic France, were welcome to settle in certain of his lands and some 20,000 came to Potsdam which became known for its religious tolerance. Immigrants from Russia and The Netherlands came as well, many of whom served in the Prussian army, which at one time had as many as 40,000 mercenaries in its employ. Other immigrants became farmers in the flat, sandy lands of Brandenburg, surrounded as it is with many lakes and rivers.

Schloss Sansoussi, actually marked on the building Sans Souci, French for 'Without a Care or Carefree', was built for Frederick the Great in 1745-47, his Rococo summer palace opulent to the extreme, with rich chandeliers, gold and white interiors, huge oil paintings, luxurious ceilings and furniture. Adjoining Sansoussi stands Bildergalerie, the first independent museum building in Germany, finished in 1763, where one can view more than 180 paintings and sculptures in the Picture Gallery, including works by renowned artists Rubens, Caravaggio and Maratta. Most curious of all, not far away, lies the grave of Frederick the Great, covered in potatoes to commemorate his having introduced these vegetables to Prussia where they are now the staple crop of Germany and feature prominently in its cuisine. His dogs, not his wife, are buried nearby!

Of course one Schloss wasn't enough so Neue Kammern was built in 1747 as an orangery and then transformed into guest quarters, in Baroque elegance to be sure.

The 700 acres of Sansoussi Park encompasses not just

Glienicker Bridge where spies were exchanged

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Dacha in Russian enclave of Alexandrowka in Potsdam

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Photography for this article is provided by Laura Tanna

these grand palaces, but also Orangerie Schloss, built in Italian Renaissance style in 1852-1860, where Russian Tsar Nicolas and wife stayed when guests at Sansoussi.

Many visit Sansoussi Park for the gardens alone, especially the pleasure garden or Lustgarten. Don't miss the Chinese Tea House, resplendent in Oriental design and porcelain so popular in the 18th century. There are baths created in the style of the Romans and even a Dutch windmill for grinding grain within Park Sanssouci.

We gave a miss to Schloss Charlottenhof - one's appetite for Potsdam's 12 castles or palaces can actually diminish with such an overdose - though you might enjoy this Neo-Classical Roman Villa built for King Friedrich Wilhelm IV. But we chose to satisfy our appetite by dining in Potsdam's historic inner city, in the red-brick Dutch Quarter at La Maison Du Chocolat, Berkerstrasse 20 where the German meals of meat with wine, beer, Italian pasta are all delectable, but the real draw of this cafe' is their hot chocolate, so thick one eats it with a spoon!

No visit to Potsdam is complete without paying homage to Schloss Cecilienhof, home of Crown Prince Wilhelm Hohenzollern, where the Potsdam Conference of 1945 was held with the Allied leaders of Great Britain, the

United States, and Russia meeting to conclude the messy business of recovering from World War II. Winston Churchill, Harry Truman (who had become president after the death of Franklin Roosevelt), and Joseph Stalin struggled with creating the various zones of occupation and demilitarisation of Germany, discussing means of punishing war crimes and providing compensation for victims, but when Churchill lost the British election, the final terms were concluded here with Clement Atlee replacing Churchill. The conference lasted over two weeks, ending August 2, 1945.

Cecilienhof was the most modern and last of the Hohenzollern buildings, constructed between 1914 and 1917 for Wilhelm von Preussen and Princess Cecilie in the English country manor style with half-timbered walls. It remained in the family until 1945 and is now a hotel which is open to the public and a locale you might bear in mind should you wish to take more than a day trip and stay longer in Potsdam to appreciate other attractions, such as the Marmorpalais of marble, or the domed Nikolaikirche, a beautiful Baroque church. Hop on Hop off Potsdam City Tour double-decker buses do permit those remaining in the city a chance to explore this historic venue at their leisure.

LIFESTYLE

Pictures. Profiles. Personalities

Patsy Latchman-Atterbury, vice-president, small and medium enterprises, Scotiabank, as she addresses the attendees at the Scotiabank Small Business Seminar.

Brazuca! With the 2014 World Cup scheduled to capture the world’s imagination from June 12 to July 13 this year, ADIDAS Jamaica hosted a special sneak peak of the official 2014 FIFA World Cup Brazuca Ball. Counsellor Alphonso Celso Nery (left) from the Brazilian Embassy in Jamaica is pictured offering a toast to Resic Henson of Sports Source in front of the giant replica of the ADIDAS Brazuca ball.

JCF Training session put on by the Management Institute for National Development (MIND) at the Police Academy in Twickenham Park, Spanish Town.

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ActionCOACH Marcia Woon Choy as she presents on Six Steps to Achieving Massive Success In Business. The Scotiabank Small Business Seminar has been helping small business owners across Jamaica for six years. The event was staged at the Scotiabank Corporate Learning Centre.

Tanya Lee (left) Sports Max regional marketing manager, is spotted with Jamaican football legend, Walter Boyd, at the unveiling of the ADIDAS Brazuca FIFA World Cup matchball which marked the start of Jamaica’s World Cup watch for 2014.

Members of the Jamaican Constabulary Force Ms Shawnette Henry, Manager, Client Relations and Marketing MIND

F1rst Jamaica’s Dwight Scott speaking on the product at the F1Rst Media Launch. F1rst is a Caribbeanowned integrated mobile application which ties together business and consumer information on a single platform.

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Veteran journalist Ian Boyne as he addresses attendees at the recent launch of his book, Ideas Matter: Journey into the Mind of a Veteran Journalist.

The Jamaica Observer's Senior Associate Editor - Lifestyle and Social Content Novia McDonaldWhyte, is captivated by the presentation at the F1srt Media Launch.

Wealth Magazine Chairman Garth Walker and veteran journalist Ian Boyne at the recent launch of Boyne’s book, Ideas Matter: Journey into the Mind of a Veteran Journalist.

Mr Reckonel Simpson, capability development Specialist, MIND.

Ms Shawnette Henry, manager, Client Relations and Marketing, MIND, Ms Rena Williams, Administrator Business Development and Communication, MIND, Ms Kodianne Hall, Client Relations and Marketing Officer, MIND. Ms Sanya Foster, Client Relations and Ms Marlene Campbell, senior manager, Registry and Records Management MIND. Marketing Officer, MIND.

Ribbiz Ultra Lounge proprietor Don Creary is deep in conversation with Rainforest Seafoods Marketing Manager Roger Lyn

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Mr Oneil Grant, president Jamaica Civil Service Association, Mrs. Ruby Brown, CEO MIND, Mr Wayne, guest speaker, Ms Dawn-Marie Ebanks, Director Finance, Human Resource Management and Institutional Strengthening MIND, Ms Ann-Marie D. Smith, Director Public Service Capability Development MIND Mr Berome Edwards, board member, MIND’s Advisory Board.

Members of the Red Stripe team were out for the Ribbiz Ultra Lounge launch.

Captured here we see Jermaine Bobbins - Brand Manager of Spirits and Erin Mitchell - brand manager of Red Stripe Beer.

JMA President Brian Pengelly and his wife were a few of the popular names on the Ribbiz Ultra Lounge launch guest list. The Pengelleys surround proprietor Brian 'Ribby' Chung.

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Garry Clarke – Director at ITC , Richard Stewart and Jacqueline Stewart Lechler Directors of the Stewart's Automotive Group at the Silver Star Motors Launch

Robin Delisser Business Development Manager Tropic Island Trading Company Ltd , Dianna Stewart and Richard Stewart, directors of the Stewart's Automotive Group and Brian Pengelley President of the Jamaica Manufacturers' Association at the recently held Silver Star Motors Launch

Fish Pot Manager Max Jardin, master photographer Howard Moo Young and Rainforest Seafoods General Manager Earnest Grant at the launch of the new Fish Pot Restaurant on Half-Way Tree Road.

Rainforest Seafoods Marketing Manager Roger Lyn, elite racer Doug Gore and Rainforest Seafoods General Manager Earnest Grant are all smiles for the Wealth Magazine lens.

KIA Motors Jamaica CEO Dwight Moore speaking on KIA’s decision to partner with the Jamaica Civil Service Association. Kia Motors heads this initiative with the intent to pay homage to the civil servants of Jamaica, in recognition of their continued commitment and efforts in the service industry.

GraceKennedy CEO Don Wehby, HGTV design star Kim Myles, and Hardware and Lumber Sovereign Branch Manager Marsha Welcome-Brown at the recent relaunch of the store in the Sovereign Centre.

Hardware and Lumber Rapid True Value team members Donna Taylor-Wright and Kimberlee Redway share lens time with HGTV Design Star Kim Myles and H&L Brand Ambassadors

Kimberlee Redway, Hardware and Lumber Rapid True Value’s administrative and promotions officer, greets HGTV design star Kim Myles at the Norman Manley International Airport.

Myles was in Jamaica as a part of H&L True Value’s Holiday Home Décor campaign.

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(L-R) Garth King, treasurer, and chairman of IT for the JBA; Corrine Clarke, associate services officer of the Sports Development Foundation (SDF); Garth Walker, chairman of Creative Media and Events; Robert Richards, president of the JBA, and Joseph Clarke, 2nd vice-president and tournament chairman, Jamaica Badminton Association.

State Minister Julian Robinson, ministry of science, technology, energy and mining, at the Microsoft Jamaica Innovation Centre.

Zina Edwards-Malcolm of CGR Communications and Consul Alphonso Celso Nery from the Brazilian Embassy in Jamaica at the Brazuca Jamaica launch.

Former Prime Minister P.J. Patterson at the Jamaica Stock Exchange awards ceremony.

Robert Jackson, general manager of Sol Petroleum Jamaica Limited, presents UWI Mona accounting major Soneilia Green with her scholarship at the recent Sol Jamaica scholarship presentation.

Karoline Smith (centre), Marketing Implementer of Sol Jamaica is flanked by UWI scholarship recipients Soneilia Green (Left) and Trudy –Ann Davis (Right).

L-R: Front Row: Andrew Rollins, Sol Group CFO; Soneilia Green (UWI); Trudy-Ann Davis (UWI); Vivette Hamilton (UWI Mona, Office of Student Financing); Dahlia Johnson (Sol), and Karoline Smith (Sol). L-R: Back row: Sol team members Nuru Nassor, Colinnette Wilson, Robert Jackson, Deniese Whyte, Loncey Earle, and Kevin Alexander.

Book us now for your next corporate event. Contact: tricia@cmeja.com or (876) 754-2075.

For full album visit www.facebook.com/wealthmagja

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Dian Blackwood

AVP, Financial Planning Sterling Asset Management Limited 21st Edition

1. Tell us about your current position?

Behind the Desk

As AVP, financial planning, my role principally involves delivering advice to clients aimed at assisting them to fulfill their financial goals. Critical to successfully providing sound advice is intimate knowledge of financial markets and how projected movements of key market variables are likely to impact the value of various securities. When matched against a client’s investment objectives, risk tolerance, and constraints, these macroeconomic insights are key enablers in constructing the optimal portfolio of investment assets for my clients.

My role also includes business development responsibilities. As such, I directly market the company’s products and services to prospective clients, provide market information to the investing public through newspaper articles and interviews, and generally execute strategic initiatives to grow the company’s book of business.

2. What motivated you to choose this field?

From an early age, I had chosen a career in finance and went about garnering the required skills through a series of studies. Being even more fascinated by the things I was learning, I went about seeking a job that I could put my skills to use. It also helped that I am a people person.

3. Does social media play an important role in job?

Yes it does. It is the faster growing means of communication. Social media also keeps you relevant and updated with clients and prospects. It allows you to keep in touch with the younger generation who will become future investors.

4. Tell us something about you that not a lot of people wouldn’t know?

I bet you didn’t know I was a tomboy until fifth form of high school.

5. Use Five adjectives to describe yourself.

Creative, determined, resourceful, empathetic (I like to put myself in people’s shoes) and I am a fitness fanatic.

6. Where do you see yourself in five years?

Senior vice-president of portfolio management 7. Do you have any advise for young business professionals?

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There is no substitute for commitment and hard work to achieve success. You must also have a genuine love for people to survive in this business.

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1.

Tell us about your professional and educational background

I was educated at Titchfield High School in Portland and the University of Technology where I studied banking. I worked as a counter clerk at the National Commercial Bank and as teller and treasury officer at Trafalgar Commercial Bank (now First Global Bank). I ventured into manufacturing, sales and distribution sectors when I spent four years at Desonel Distributors and Desonel Manufacturing Company Limited.

I started as administrative assistant and then worked as a house sales representative and later became operations manager.

Though I enjoyed my job, I kept feeling that I was not realising my full potential and I decided to rejoin the financial sector, but this time in securities trading at Capital Solutions Limited. I started as treasury officer and as I learnt and honed my craft, I made sure to be exposed to garner knowledge, experience and practiced securities trading, foreign exchange trading, investment and microfinance.

I wore the hats of investment manager, operations manager, cambio manager and general manager for the microfinance arm of Capital Solutions, Payday Advance.

2. When did you first know you wanted to be involved in the investment/microfinance business?

While I was at Desonel Distributors I realised I was not getting the kind of job satisfaction I craved no matter how hard or smart I worked. I knew then it was time for a change.

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3. What do you think sets Wealth Access Financial apart from other microfinance institutions?

Wealth Access Financial is about empowerment. Our interaction with our clientele is designed to make everyone involved significantly better off to pursue better quality of life.

We assess your loan requirements and develop a loan that is right for you and not just give a loan because you ask. We help you to understand your debt-servicing ratios and the importance of credit management and the benefits of ontime payments.

Wealth Access Financial is about technology. We design our service to be hassle free through the use of technology that cuts down on commuting and turnaround time. We encourage you to call or come in and talk to us, talk to us on Facebook, Twitter, email, text messages, send us a fax or we will come to you.

Wealth Access Financial is about flexibility. Our rates are very competitive and payment options flexible. There are no reasons that we consider frivolous for you wanting our services. We design our products around your needs.

Wealth Access Financial is also about keeping you informed.

We advise of the latest promotions, remind you of the next upcoming event and encourage you to take the next step with our financial help to plan this dream.

Wealth Access Financial promotes growth. The small and microfinance sector often requires financial assistance with as much ease and efficiency as possible. We understand the importance of time management and work assiduously to get you growing as quickly as possible.

4. Describe a day at the office for you.

No two days are ever the same, but typically my day starts at 8 o’clock with checking and responding to my emails. Then I review my 'to-do' list and revise as is required. I read the reports and results of the action taken the previous day and discuss with and instruct my staff on the schedule and plan of action for the day.

There usually are lots of calls to make to existing and potential customers and this is done throughout the course of the day along with simultaneously checking the social-media sites.

I keep a close watch on the marketing campaigns and respond accordingly.

There are usually meetings both internally and externally.

Credit assessment is ongoing throughout the day so as to ensure quick turnaround for the client. Lunch is usually about 3 p.m. and final official work hour is spent usually preparing reports and updating schedules and of course, networking.

5. What is your philosophy when it comes to work?

I am a B.U.M

Balance - Work hard, work smart Unique – be innovative, ensure that I make a difference in the workplace.

Motivated - be committed, dedicated and loyal towards your job

6. How do you balance business and pleasure?

Take pleasure in your business so it won’t seem like work.

Dedicate a special time each day that is outside of the conventional business hours to relax, unwind and recharge. I also ensure that the things I do that can’t strictly be construed as business never meet with those that are; then the balance works.

7. What advice do you have for women looking to climb the corporate ladder?

Be passionate about what you do. Take pleasure in what you do. Work smart, be driven and deliver results, network, mingle. Remain focused and keep your eye on the prize. Most important though, remember you are a lady so be prepared to put 110 per cent into the climb; and remember all this can be done in a pair of killer stiletto heels.

8. Tell readers why Wealth Access Financial should be their first choice for microfinance.

Wealth Access Financial should be your first choice for microfinance for these five reasons: 1. Unique product offerings 2. Easy access 3. Quick turnaround time 4. Flexible repayment terms 5. Payroll deductions gives you better control of your disposable income