Wealth Magazine i28 by Wealth Magazine Ja #1 Business Publication

Publisher

The Editor’s Survey

The New World Order

There’s a new communications ethos in global business relations, which says you are out of line if you are not online. If you want your business to grow the Internet is the place to go. The cyber revolution is irreversible.

In this issue of the magazine our cover story highlights the World of Connections among competing and complementary business enterprises on the Internet. Engaging consumers in brand relations through social media networking platforms is now imperative instead of optional. Our Story Writer provides a comprehensive insight into these interactive exchanges. Also featured in this issue is a range of useful articles on topical business practices, outstanding personalities and performances. The balance between labour and leisure is judiciously demonstrated in the content presentation. We invite you to engage us on social media at: www.facebook.com/wealthmagja Twitter - @wealthmagazine Instagram - @wealthmagazinejamaica Read and indulge your critical thinking process without reservation. Welcome to our World of Connections through any portal you choose! Cheers.

Editor in Cheif Monique Grange Sales Executives Geoffery Wilson Shawna Campbell Lloyd Brady Account Executive Tricia Bent Designer Conroy Green Howard Hamilton Cover Design Conroy Green Cover Photography Tricia Bent Printed in Jamaica By The Herald Printers Styled By -----

Hylton W. Dennis Contributing Editor

Copyright © 2015 Wealth Magazine Volume 5 Issue 2 All rights reserved. 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. 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 /wealthmagja

Managing Editors Garth Walker & Leighton Davis

www.wealthmagja.com

@wealthmagazine

/wealthmagazinejamaica

Special thanks to: Our writers, advertisers, readers, partners, family, friends and the CME Team.

Publishers’ Note

ommunications technologies and platforms have hen I was in high school in the 1990's cell phones moved leaps and bounds in a relatively short period. were just introduced into Jamaica and the idea of The computing power which put the Apollo 13 into being able to speak a with someone while on your space 40 years ago in 1970 is now surpassed by the average mobile was something out of star trek. Fast forward to 2015, smartphone many of us carry around. we now live in a world that allows you to take a picture and post it on Facebook or Twitter to people all over the world. I Gone are the days when current news happenings were don't have a land line anymore and my family from Canada shared solely by writers in newspapers or by broadcasters calls me by Skype when they wish to catch up. whether in TV or Radio. It is because of these modern platforms why social media Web 2.0 has given more power the average man than now plays a major role in how we share our thoughts, ideas they ever had in the era of ‘mass media’. Rapidly growing and make connections with people and brands. This issue platforms like Facebook (2004), YouTube (2005), Twitter (2006) focuses on how social media can connect your business to and Instagram (2010) have facilitated people’s desire to make the world. If you're not using social media you're losing the connections and exchange self-generated content. opportunity to speak with and get feedback from customers loyal to you' brand. Our magazine is not only available in hard Social media can literally be viewed as a technology which copy but digitally as well on Issuu. I would love it if you visited solicits a wider range of participation in global happenings. our publishers page (http://issuu.com/wealthmagja) looked If there was a worry that media outlets of the past could be at your favorite mags and offered us your feedback on how tools for large commercial interests or pawns of propaganda we are progressing. Remember to follow us on Instagram, then social media has essentially “come to the rescue”. Facebook and Twitter for the latest updates. Users of social media still have to be responsible and careful in which outlets they choose to follow for credible information. We must all be aware of the fact that myths are a plenty in our world. Local news outlets such as Business Access TV are making strides in engaging the public via social media through the sharing of business news which otherwise would have gone unreported.

Leighton Davis Managing Editor

My advice is to follow, like and share from BATV today. @business_acess_tv

@business_access_tv

Business Access Tv

Garth Walker Managing Editor

Contributors

Hodine Williamss

Sancia Campbell

has mastered the technical disciplines of economics, management and law, yet maintains his creative bent with process reengineering, painting, and karate. He holds degrees in management and economics, and law. Former Assistant to the Auditor General, he is now applying his juristic skills as Legal Officer for the Government. Hodine has worked in the financial sector and has pursued his own private business ventures. He is best characterised as a critical thinking optimist.

is a PR practitioner in the business and hospitality sectors with more than 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.

Vol5 Issue 2 | 2015

Laura Tanna has authored the books Baugh: Jamaicaâ&#x20AC;&#x2122;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.

Other Contributors/Writer Lancelot Tucker Sheldon Williams Mikaelea Witter Valrie F. Grant Alethia A. Lambert Hanniffa Patterson Kara-Sue Sweeney Toni Ho-Young J. Hudson

Contents Table of

Volume 5 Issue 1 | 2015

Innovation 14

Tips To Market Your Business During The Off-Season

Why Titles in a Start-up Company are Important

Technology 18

Windows 10

Local Communications Company Launches First Technology Driven, Caribbean Media Monitoring Service

Feature 24

No Water? No Problem

Guardian Group’s 5K Raises $13 Million

JCC 33rd Annual Awards Ceremony

Being A

Caribbean Entrepreneur – Is it For You?

Finance 36

10 Ways to Help Increase Your Cash Flow

Being A Caribbean Entrepreneur - Is It For You?

Legal tibits: Intellectual Property Rights

Health & Wellness 68

40 Weed Entrepreneurship 101

Tips for budding ‘Ganjapreneurs'

The Secret to Your Weight Loss Breakthrough

Lifestyle 70

Size Matters! New Honda HR-V Crossover Destined To Change The Game

India’s “Silicon Valley”

Style Me Chic

Behind the Desk Gillian Hyde

Career 82

4 Simple Tips to Remember When Using Social Media in Your Business

Book Review

World Of Connections How Jamaican brands are using social media

Cover Story

INNOVATION

Tips to Market

your business during the

Off-Season By Sancia Campbell

any entrepreneurs perceive the dreaded ‘off-season’, as the worst time to be in business. Sales slow, the buzz decreases and the business becomes a virtual ghost town. But guess what? It does not have to be and in reality, it shouldn’t. Entrepreneurs and their marketing team should take the time to generate new ideas, capitalize on leads and use the off-season wisely to prepare the business for smashing successes when peak season returns. The following are some tried and true tips for marketing your small business during the slow season: Get social and stay there – Firstly, if your business is not online, then you are effectively not reaching a significant amount of your market. Social media plays a big role in keeping the business at the forefront of the customer’s mind. Utilize Facebook,

Twitter, LinkedIn, Instagram and YouTube to continuously generate and share messages, customer reviews, new and revamped products, tips and just about any relevant information about the business. You can also use the platform to run contests, offer discounts and generally keep in touch with your client base. Use up your database – So you’ve spent years building a customer database. You have contact information, product preferences and information about specific customer interests’ at your fingertips, what do you do with the information?! There are several actions that come to mind. - Cold calling: Cold calling is a great way to prepare for the next season. It will give the entrepreneur an opportunity to find out what the specific needs of the customers are for the upcoming season and provide insight as to how the business can prepare to meet those needs. - Emailing: Sending emails is another great way to keep in touch with clients. Be careful though that your messages do not become spam. Use acceptable time lapses between messages to engage with your customers. Be sure however, that you are delivering high-value content to their inboxes. This will prime the business for success when the season returns. Reward existing customers and lure new ones – Let’s face it customers love free items, particularly if they have supported your business year in, year out. Nothing solidifies their loyalty to your business more than free samples of their favourite products. This will give your business an edge over your competition which may not offer programmes like this for their loyal customers. Use the off-season to reward customers by offering incentives for early orders. Incentives may include discounts or they may qualify for longer credit terms etc., Reward programs are just another inexpensive way to market your business and gain new customers by offering a valuable freebie. Also, create a referral programme where existing clients may refer up to a specific number e.g. 5 new customers to qualify for additional discounts. Remember your existing customer base is your best source for garnering new clients because they have experience with you and your products. And when they keep coming back, that means they like your service or products. Identify a niche and operate therein – Capitalize on your earnings during the slow season by identifying niche markets in order to keep the business steady. For example, if you are a tailor/seamstress who only sews uniforms for say five to ten high schools, your busiest period would possibly be between April to August of each year. During the months of September to March, you could offer a special on uniforms to nurses or doctors or any other specific

profession. Notice, you are still within your expertise but instead of focusing on the group that provides the lion’s share of the business, you are focused on a niche market that can help to pay those bills which are guaranteed to come in at the end of the month. Extend your season – How many of you have noticed the numerous ‘Christmas in Summer’ promotions now taking place in the local market? Well if you haven’t, then it’s time you do. What these businesses, (albeit they may be bigger than yours) have done is to generate interest in their products while creating a certain buzz around their offerings. As a small business owner, you may not be able to afford the marketing campaign, but certainly within your database and your network, you should be able to identify products which can benefit another customer segment during the slow period. Of course, there is much more that you can do to keep the buzz going during off-season; these tips should however do your business justice if they are applied in a strategic manner.

INNOVATION

Why Titles in a Start-up Company are Important

tarting a new business can be fun and yet difficult. Although your Start-up may comprise of a small number of employees, assigning job titles to those persons at the top and even certain low-level workers can get your business off to a great start. After all, you want to make an impression on other businesses and your customers don’t’ you? Here are some top reasons why you should consider assigning job titles to employees in your Startup.

Boost Morale

Employees in the company love to tell persons on the outside what their position is in the organization to which

By Lancelot Tucker

they are employed. It will also give boost their morale and affirm their importance to the company. Putting someone in charge of a section without a proper title can cause the person to develop a lack of confidence in his or her abilities. Putting someone in charge of sales in your company without giving him or her job title can make you look silly. Take for example, when you refer a customer to him or her, what do you tell the customer. Do you tell the customer this is a “member of staff” employed by the company to meet his or her needs? Would it not be better to introduce your expert sales staff as the sales manager of the company? In addition, if a member of staff should leave your organization, he or she will want to put a job title on his or her resume. Refusing to give a job title can compromise your employees’ future.

Role Identification

Your start-up might be small at first but later it will start growing and this is the time when everyone such as staff members, customers and partners want to know who is who in the company. Without job titles employees will not know who is responsible for certain sections,

who does what or who go to in case there is a problem with a customer. This can bring confusion in a company and as the CEO employees will be pointing a finger in your direction saying you are to be blamed for the confusion.

Employees Can Know If They Are Undervalued

A job title can give an employee an idea of whether he or she is undervalued or underpaid. This is so employees can have an idea how they are ranked in a competitive world or environment. Without a job title to go with the position, employees will not know what competitive salary rate to expect.

In addition, using a job title can help you find suitable candidates to join your organization. Clearly stating a title will provide prospective staff members with the information they need when applying for a position in your company. It also helps them in their research and preparation for a job interview. New employees will know right away where they fit into the business. Knowing which job title they have will let them understand their job description better and thus will ensure that they carry out their duties with the utmost efficiency.

Good For Business Job titles will reflect your companyâ&#x20AC;&#x2122;s structure and denote authority. Clients who have to deal with your start-up business on a regular basis will get the right impression about your company based on the title of the person doing business with them on behalf of your company. Without the necessary authority in place, clients can lack confidence in your organization and thus move on to another competitive business to get their needs met. Some esteemed clients may become disgruntled when dealing with a low-level employee, worse if the person fumbles at giving them the right information. In fact, even though the employee might know his or her job well enough to help the client, the client might feel insulted because of the low-level job title the person carries. This can affect the perception that client has of your business. Since job titles are so important, you should make sure to manage them carefully. A company that gives job titles to employees is a business that is progressing and one that will attract the right clientele. Knowing who is who in your Start-up can save time and enhance efficiency.

TECHNOLOGY

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Cortana Meet Cortana, fresh out the plastic and one of the

newest additions to be debuted by Microsoft. If you have a windows phone, Cortana would be no stranger to you and techies will be quick to point out that Cortana is Microsoftâ&#x20AC;&#x2122;s response to Google now and Appleâ&#x20AC;&#x2122;s Siri. Cortana is a digital personal assistant that uses artificial intelligence to acquire data about the user and provide personalized information. It is integrated into the desktop, Microsoft applications and the Edge browser and works across multiple platforms including androids and tablets. Users can interact with Cortana by speaking or typing and Cortana will respond accordingly using whatever method you used. On the desktop, Cortana appears as a search field in the taskbar. It can be used to search folders, photos, settings and v videos among other things. Over time, Cortana will learn more about the user, for example, your favorite actor or sports team. Interestingly, Cortana can be put on a need to know basis, Microsoft has designed Cortana with the option to block it from having access to certain information.

Microsoft Edge succeeds Internet Explorer which has been around for the past 20 years or so and will be the default browser on Microsoft Windows 10. Edge boasts several nice features such as a button that allows the user to convert any web page into an easy-to-read format without adverts and sidebars and allows for greater focus on content such as text and pictures. The color of the background and the size of the font can also be

adjusted. Edge allows for offline reading. If a user bookmarks a webpage in Edge, it will automatically cache the page to foster offline reading. A pretty cool feature is a tool called Web Note that allows users to circle things on the page, make notes and highlight passages of texts. Screenshots can also be taken and shared on social media.

Welcome to Groove Music R.I.P. Windows Media Player

It is time to say your goodbyes to Windows Media Player and make reservations for a memorial service as Microsoft has pulled the lifeline. Windows Media Player will be replaced with modified versions of Xbox Music and Xbox video which have been renamed as ‘Groove’ and ‘Movies and TV’. Users of Groove can upload their Mp3s to Microsoft’s cloud service, OneDrive and access them using Groove app on any Windows device, Android and iOS devices or by web browser. Users can drag individual tracks into playlists over the Windows 10 desktop.

Continuum Windows 10 works across all Microsoft devices, including

desktops, tablets, and smartphones. What that means is that any device can, in theory, run Windows 10 in any mode by detecting the status of the device it is on and choosing the most appropriate mode accordingly. If you're using a Windows tablet, convertible notebook or smartphone Windows 10 can morph to fit your screen. It's a new feature called "Continuum." When Windows senses you're not using a keyboard and mouse,

it will enter "tablet mode”, featuring a simplified task bar that just has a Start button, Cortana and app switcher. An expanded Start Menu is your default home screen in tablet mode, and all apps automatically appear full screen. Windows 10 is expected to be made available in 190 countries and 111 languages by July 29. Windows 7 and 8.1 users can pre-register for their free Windows 10 upgrade by clicking the Windows logo that will appear on the right-hand side of their taskbar.

TECHNOLOGY

Local Communications Company Launches

DRT Communications Limited, a Caribbean based communications agency, is now the region’s first full service technology-driven media monitoring agency with its recent launch of a full suite of media monitoring services. With special focus on tracking Caribbean media in addition to international media sources in broadcast, print and online, the services provide a revolutionary method of analyzing a brand’s media impact.

First Technology Driven, Caribbean Media Monitoring Service

DRT Communications CEO, Danielle TerrelongeIrons in describing the service says, “Our Media Monitoring service is geared at answering the call of regional marketers with an innovative technology driven service. Not only is it the first of its type in the Caribbean, we see it as a tool to put the Caribbean marketing landscape on par with global standards.” cont'd on pg 30

hrough the new DRT Media Monitoring service, clients will be able to access daily content generated about their brand, industry, and any other topics of interest. This in turn, will enable better tracking of trends and proper analysis of what is being said about their brand and aid in more accurate real time decision making. The service monitors radio and television broadcasts; press clippings from newspapers, magazines and other print media; as well as online data. Tracking online data looks at consumer sources such as social media, blogs, and forums. Terrelonge-Irons elaborates, “Used by marketers across the world media monitoring is usually used to identify mentions of a client’s organization, brand, industry or specific issues, it is also used to gauge the traction of news releases and PR campaigns, manage brand reputation, understand target markets, identify new business

opportunities, evaluate corporate communications, as well as to analyze competition in an effort to dominate a particular market.” DRT Media Monitoring makes use of global technologies and is unique because of the ability to understand and interpret various Caribbean dialects and most languages around the world. The suite of services include: •Global tracking of all media types i.e. print, broadcast, online and social media. •24 hour information processing and indepth analysis •Access to over 200 million current news items •Concise and accurate reports delivered promptly •Service to Jamaica, Trinidad and Tobago, Barbados and other Caribbean countries “It was important for us to answer the call of organizations in the Caribbean.

We have invested in the best technology and have licenses exclusivity with our global partners. This is an exciting time for marketers throughout the Caribbean. The response to the service has been extraordinary and we know it will our clients and potential clients to fully realize their ROI on their marketing and corporate communications spend.” DRT Communications Limited. is a marketing communications agency based in Kingston. It was founded in July 2008 by CEO Danielle Irons. The company since then provided the most creative communication solutions to clients. Some DRT Communications clients include: Red Bull (Jamaica), Caribbean Broilers, Guardsman Group of Companies, J. Wray & Nephew, Restaurant Week (SSCO), Jamaica Money Market Brokers Group, Diageo/Red Stripe (Jamaica), Medical Association of Jamaica, Ballaz International Football Academy.

FEATURE

No Water? No Problem

BY: Mikaelea Witter

h to have a refreshing shower in this unbearable heat with water restrictions in full effect! Jamaica may be known as the land of wood and water but we have always had a persistent water problem, whether in drought or in between. Innovator 33-year-old Jovan Evans has developed a solution to that problem which will make the most daunting tasks during water lock-offs possible.

Whether it is for residential, commercial or recreational purposes such as taking a shower, flushing a toilet, washing hands and use on trips, help is contained in a bottle. Jovan Evans has introduced Pump-N-Spray - a foot operated water dispenser- to the nation. Pump-N-Spray is the flagship product of AquaFlow Products and Services Ltd., manufacturers of versatile water dispensers. Chief Executive Officer Jovan Evans says with the focus on smaller water storage sources, the company provides affordable solutions to the varying water challenges of its customers without the use of electricity and large water tanks. AquaFlow's product line encourages the recycling of plastic bottles, helps to conserve water through use, reduces the inconveniences of limited water supply and for some customers, improves their quality of life. No water? No Problem.

What is Pump-N-Spray?

It is a device that transforms your water bottle into a portable water dispenser. It works by removing the cap on a water bottle and replacing it with the cap bought from AquaFlow Products and Services Ltd. The cap is an extended nozzle similar to a shower head with a foot pump attached. There are two versions of the Pump-N-Spray - a 5 litre or 1.3 gallon bottle and 5 gallon bottle. Mr. Evans says the 5 litre bottle in particular helps with the conservation of water in households He explains that on a normal basis we use between 6 and 45 litres of water per minute when showering. "Customers with Rhino Tanks use it to fill their Pump-N-Spray and have said it is great with kids around. Our

water situation would be a lot different if half the population used the Pump-N-Spray."

Idea behind Pump-N-Spray started in a bottle

The idea for the innovative water dispenser came to Mr. Evans lead product developer, as he prefers to be called, during the summer of 2013 during during a water lock-off. In need of a shower but with no stored water, he began thinking about a solution. "I started to experiment and researched wells and pumps. Six weeks after the idea formed, a prototype was developed using parts from a hardware store. It was expensive but it worked." However, the water situation regularised and the idea was placed on the back burner. But the water lock-offs soon returned and so did the idea for a convenient water storage solution. The Computer Science and Computer Software Programmer realized that other persons had similar challenges, â&#x20AC;&#x153;and it would be more profitable to solve this problem efficiently and effectivelyâ&#x20AC;?. Mr. Evans says efficiency was necessary because conservation is key particularly during a drought. He took his design to a Startup Jamaica weekend workshop in October 2013 where he placed third in a competition. From there, the Website Developer went full swing into improving and enhancing his innovation while holding down a steady job. Mr. Evans says he continued to refine the prototype adding a special cap from 3D printing. In the process, he sought advice on intellectual property rights from the Jamaica Intellectual Property Office, JIPO. As a result, in August last year he filed a patent for his foot operated water dispenser. Mr. Evans expressed confidence that he will be successful in getting that patent soon, "as there is no other product for Pump-N-Spray out thereâ&#x20AC;?. He also filed an industrial design patent for his barbed showerhead fitting. Following discussions with JIPO, Mr. Evans says he continued doing his homework to ensure the success of Pump-NSpray. He researched his competition, conducted research on the water industry, did market surveys, bought and tested competing products all the while refining his prototype. Mr. Evans has high praises for the Branson Centre for Entrepreneurship which he says helped him to get the business side of the product out of the way. During a four month workshop from July last year, he was taught how to turn his idea into a business plan. "After going through this process it helped to develop the idea for a water dispenser. They guide you and coach you in business planning. Mr. Evans says it was through the Branson Centre that he was able to effectively communicate his innovation to the Scientific Research Council and potential clients about what he wanted to achieve. "Using that pitch helped me to get my first client, HiPro Supercentre." The official Branson Centre entrepreneur says: "preparing yourself for investment, the investors are looking at certain things. An idea is just one of several necessary components of the business plan."

According to him, you also have to consider: (a) Finances (b) Management team (c) Marketing (d) Rent (e) Material (f) Developing a strategy for growth Award Mr. Evans was recognized in November 2014 for his invention. He received a National Innovation Award. He says he has been able to share with young people the path to scientific innovation. Mr. Evans says it is important that people realize that they can make stuff and make money from these things. "We live in a consumption driven society. The idea is simple. We can create things but we just need to try. It is important for young people to see this to create careers through science." Mr. Evans says the journey from developing his first prototype in August 2013 to selling his first Pump-N-Spray in November 2014 has been interesting. "Looking back I did not think it would take this long, but you have to get all your ducks in a row." Mr Evans the venture has been costly but it is important to love what you do. "I could have bought several things with the money I spent in one year. I think that is why people don't try to innovate because of the obstacles and challenges. But you have to look at the big picture and take that." Response since drought 2015 Mr. Evans says the demand for his product has increased since the water restrictions were implemented in July this year. "I think I will be able to meet my target for the year." Don't worry about him running out of Pump-N-Sprays either as he has them stacked to the ceiling in his home from where he has been operating. Mr. Evans says the company with be moving to its new location at 62 Dumbarton Avenue, Kingston 10 soon. Interested persons can also visit his website at www.pumpandspray.com or find the company on social media at www.facebook.com/ pumpandspray. The entrepreneur has expressed confidence in his business and product and is now working on another invention, this time in the field of agriculture. Let's wait and see what that turns out to be.

PUMP 26

SPRAY

FEATURE

he Jamaica Chamber of Commerce held it’s 33rd Annual Awards Ceremony on May 14 at the Jamaica Pegasus Hotel. The theme of this year’s event was ‘Releasing the Growth Within’ and it celebrated Jamaican companies that perform at the highest levels within the Jamaican business landscape. Winners for the evening included: • The Mona School of Business & Management – Best of Chamber, Small • Kirk Distributors – Best of Chamber, Medium • Red Stripe – Best of Chamber, Large • Geotech Vision – Young Entrepreneur of the Year Award The Individual Chamber Member Award was posthumously awarded to Mr. Francis ‘Paco’ Kennedy. His wife, Marjory

Kennedy along with family members Catherine, Charles and Fred Kennedy received the award on his behalf. The Jamaica Chamber of Commerce acts as ‘The Voice of Business’ in Jamaica. It has been instrumental in the passing of legislation and regulations in the fields of labour relations, banking, income tax utilities regulation, foreign exchange liberalization, import/export and company law (PAYE, Electronic Transactions Act). Being an advocate for equal opportunities for the physically disabled was also a major priority of the Chamber. It ensures that local companies have the most favourable environment for the effective and profitable operation of their businesses. It also place considerable emphasis on projects that will enhance the development of the wider community.

FINANCE

s a small or medium size business owner, there might be times when you have to consider your liquidity and cash flow. This might be a weekly occurrence, or depending on your type of business, it might occur more frequently. Added to that are those problems related to production, increasing sales, dealing with the Government, and addressing the needs of dissatisfied customers. But interestingly, most of these problems have one underlying thread that runs through them – ‘cash issues’. Proper planning, especially a robust cash flow, is integral to the success of any business. This translates

into an efficient system with constant supply of raw materials, happily paid employees, and actual investments even if they are not necessarily sound ones. It follows that if you cannot efficiently manage your cash flow, your business is set for failure. To have a robust cash flow system one has to be creative. You have to be a gorilla at managing payments and a hound for collecting receivables. It might take some time to determine: the ideal cash float, how much discounts to offer customers, and to which ones such discounts are offered, and also to managing stock.

Have a highly organized and robust billing system If you are able to increase how fast you collect funds from debtors and ordinary customers and with fewer returned items, then the more resources you will have when considering expanding and funding other business ventures, including capital and operational expenses. There are a myriad of off-theshelf programs that you can utilize to improve your billing system. They are able to organize and generate reports pertaining to aged receivables for which you can set classification parameters by days, months, et cetera. My suggestion is to utilize those accounting software.

then take them up on the offer. And in case they don’t, then it doesn’t hurt to ask. Pick up the phone or send an email or when you meet to discuss business ask “What if I should pay you early, do I get a discount?” Remember you are all in business. A dollar today is better than a dollar tomorrow.

Vary and delay payables Now, I am not suggesting that you are to break contractual terms. But you don’t always have be in a rush to make all the payments at the same time. For instance, if you have a 30 day credit payment period – you don’t necessarily have to pay on the first day or first week. What you can do is vary your payments and delay them for as long as possible within the 30 day period, but please, make the payment within the agreed time period. If it is that you absolutely cannot honour a payment within the agreed time period, call the supplier and agree on a new timeline. After all, most lines of credit do not attract interest.

Exploit early payment incentives Doing this effectively gives you cash in hand. If your suppliers offer you an incentive for paying early,

Good cash flow management is concerned with managing the money that flows in and out of your business in a very efficient and effective way, paying due regard to the economy of the relevant processes. Proper cash flow management establishes an efficient system on which one can properly plan with a high degree of certainty. Here are a few tips that I believe are essential to developing and maintaining a proper cash flow system:

Balance your client base There are some business models and relationships that invariably will involve some kind of project type engagements especially consultancy ones and those which require the skills of professionals such as accountants, auditors, attorneys, and service firms. These present the perfect opportunity to make a pitch and try to have excellent relationships with these persons in order for them to become repeat customers, especially the ones who pay big bucks and pay on time. You may also wish to package deals for them (this might reduce your profits but the long term benefits are many), give them discounts and bundled service offerings.

Plan for future activities There are many things that don’t necessarily have to fail. The old saying is that “people don’t plan to fail, they fail to plan.” The more predictable things are in business,

the more you are able to make sound decisions and that will free up much needed cash. One good way to do this is to keep stellar accounting records. That way you can conduct much needed analyses to inform decisive actions.

Have ‘working cash’ I like to think of my resources as part of the business. Every factor in my business should work for me and that includes my money. If you have bank accounts then opt to keep your cash resources in interest-earning accounts. If your bank does not offer such services then consider opening an account somewhere else – it can be that simple. You have to be mindful though that some banks might stipulate that you have to keep a minimum deposit balance or have deposit activity maybe once per month and so on. If you have excess bank balances then you should diversify and invest some in high yielding investment options. You might opt to go government paper since those are more stable and less risky and they also vary in duration. Again, a caveat to consider is that longterm investments have penalties if you break them before maturity – this may affect your cash flow.

Revisit your pricing We accept that price and demand have an inverse relationship. So in business we have to consider cost when we are thinking about pricing and we have to carefully balance that with profit margins and demand. The lower the price for the good, the more persons will demand them. Thus, when a good or service is well priced then the more it will be demanded. The higher the demand the more profits you will make. What this delicate balance will also have to consider and address are rising costs. The price for the good or service too, will have to move in the same direction as costs if you are to make meaningful profits or profits at all. It might not be prudent to raise your prices every chance you get but you have to really consider the last time you actually raised your prices. As a small business owner, you have to contend with the fact that your customers do not expect to see many price hikes if any at all; and they are always quick to tell you who has the products cheaper. A smart

thing to do is to watch the industry and also study your competitors as you don’t want to be increasing your prices when everyone else has theirs constant unless of course, you are selling an exceptionally well differentiated product.

Diversify your suppliers listing Shake things up a bit. As with many investments, diversity is key. What you want to do is to remain loyal to certain suppliers but don’t be averse to new entrants. Remember, this is business not philanthropy! A new supplier to you might well be able to offer you more for far less and more efficiently too. You might want to consider areas where you can pay for more services and other areas where you can really cut back on the spending. Pool resources If you are cordial with other players in the industry then you might consider the option of teaming up and making bulk purchases. That way you benefit from wholesale or bulk prices while being able to pass on savings to customers or increasing your profit margins in any case.

Revisit your inventory policy Consider implementing a sound database management system. There are many open-source systems available on the market, or if necessary, contract someone to have a system developed solely to meet the needs of your business. An effective database management system will allow for a detailed and accurate overview of your inventory. By this I mean real-time reports, particularly as it relates to stock levels (even triggering an alert when stock levels go below a set number/level), being able to track movement history of products as well as payments - all in one central place. Know when your peak seasons and your down times. You might also be able to put systems in place to ensure that if you have spikes in demand, things can be delivered in the blink of an eye. My take on this is to regularly review your inventory and decide if you can make adjustments to the stock levels. You might wish to run some ratios such as inventory turnover

ratio. This essentially is the cost of sales divided by the average value of your total inventory. You can periodically examine your stock levels to see if any are approaching expiration or are becoming obsolete and that will be an indication to you that you might want to have a sale or even give them to customers as incentives rather than having them spoil on you.

A final Note It is always best to make decisions utilizing past data and statistics including sound financial data. Stick by this and you will have way less to worry about. A famous politician once said “cash is king” or “it takes cash to care” or something to that effect. As small business owners, this may resound with meaning as it highlights the importance of cash and a reliable and facilitative flow of it. If your cash-flow remains positive then your business will remain stable and able to navigate well in this uncertain economy.

FINANCE

Being A Caribbean Entrepreneur – Is it For You? BY: Valrie F. Grant

tarting your own business can be a stimulating and satisfying experience, yet it can be quite daunting. Owning a business offers many advantages; chief among them are being your own boss, a flexible work schedule, having control over the work you choose and the ability to enjoy and make important decisions regarding your business. Becoming a successful entrepreneur requires hard work, perseverance, commitment, risk taking, creativity and so much more.

Starting a business in the Caribbean comes with its own unique set of challenges. As Caribbean people, we are noted for being unique, ambitious and extraordinaire and usually ready to take on a challenge. As we Jamaicans say ‘wi likkle but wi tallawah’. An entrepreneur’s day is filled with new and sometimes unexpected events and situations that challenge one's problem solving skills, tenacity and one's will to succeed. If you are contemplating entrepreneurship you should consider whether you have the following characteristics and skills that are key ingredients in being successful. • Ambitions – Successful entrepreneurs are driven by ambition. It is like being hard-wired to succeed. They will often have a drive and desire to want to fix a problem and to make the most of any opportunities with unrelenting vigor. • Focus and Goal Oriented – Successful entrepreneurs are focused, goal oriented and disciplined. They must have the discipline to plan and follow their road map and work on

achieving their short, medium and long-term goals and objectives. Even when thrown a curve-ball that forces one outside the crease, being focused is required to get back on track as long as the original business objectives remain relevant. Being profitable is always a relevant outcome. • Creative – Successful entrepreneurs must be able to think of new and innovative ideas and have insights on how to capitalize on new opportunities. They must be willing to be disruptive instead of just going along with the status quo. They must see what no one else is able to see at the time and have the vision and courage to bring that idea to fruition.

• Calculated Risk Takers – Successful entrepreneurs are not afraid of taking risk; they take calculated risk where the potential for rewards will far outweigh the accumulated losses along the way. Even when a detour or a risk event occurs, one's desire to take calculated risk should not be diminished. You must be prepared to regroup with adjusted risk mitigation strategies and move your business forward. • Persuasive Communicator – A successful entrepreneur must be able to engage new contacts comfortably and articulate compelling arguments grounded in facts. Even if you have the best idea in the world it can prove challenging for you to succeed if you are unable to sell that idea. • Hard Workers - Being an Entrepreneur is not glamorous, it is hard work. You do not have a 9 to 5 workday. Especially in the startup to growth phase, your workday may start or end anytime within a 24 hour day. Most small business owners are constantly on call and end up working 50- 60 hours per week. After all, for many startups the business owner is a multitasker and wears several hats at the same time. They are the project manager, marketer, accountant, sales person customer service manager, human resources manager and the list goes on. At the start you will probably work harder than you have in your entire life. • Lead Responsibly – Successful entrepreneurs possess good leadership skills and must lead responsibly. Responsible leaders make business decisions that takes the interests of relevant stakeholders (employees, clients, suppliers, the environment and community) into account.

• Willing to Sacrifice – Entrepreneurs will inevitably have to make many personal sacrifices. These will range from sleepless nights or even missing some special family occasions. Having an understanding and supportive family and a support system will make this journey a lot easier. You must persevere, be resilient and never give up. • Not Afraid to Make Mistakes or to Fail – An entrepreneur is not afraid to make mistakes or to face failure. In fact, they understand that this is a part of the journey and each mistake and failure is seen as a learning experience. At times a failure may be what kick starts a new and very successful venture. Hence, failed endeavors are always seen as opportunities to become better and stronger. • Supported by others: An entrepreneur needs a strong support system in place. Successful entrepreneurs must build – and this takes effort. They must also surround themselves with a network of supportive persons who can help to give advice and guidance, and sometimes to share grief.

I could continue to list many more qualities that make a good entrepreneur. But this only goes to show that entrepreneurship is not for the faint of heart, but those who are mentally prepared to embrace the many challenges and fight to overcome them - one obstacle after another. Entrepreneurship is for the marathon runner, not the sprinter. Your journey will have many hilly terrains, many turns, potholes and sometimes a brick wall. There may also be many detractors along the way and their aim is to cause you to not finish the race. You must always remember that at the next corner there are also many supporters cheering and routing for your success. Drown out the noise of the detractors with the cheers of the supporters. As an entrepreneur you must embrace your choices because you understand that the sacrifices of today are what will guarantee the successes of tomorrow. Do you have the mental strength for such a journey? An honest answer will determine if you are ready to be the Caribbean’s next Entrepreneur.

FINANCE

Legal Titbits

Intellectual Property Rights

ike proprietors of traditional property, such as houses or land, owners of creative works are protected by law and have the right to benefit economically and gain recognition from what they design, invent or create.

There are several types of intellectual property which include, but are not limited to:

Works Protected by Copyright • Literary works include any work other than a dramatic or musical work which is written spoken or sung, and includes a written table or compilation and a computer programme; • Dramatic works include dance or mime;

• Copyright • Patents • Trademarks

• Musical works consist of music exclusive of any words or action intended to be sung, spoken or performed with the music; and

• Artistic works include graphic works such as paintings, drawings, maps, charts, photographs, sculptures, collages, buildings and models of buildings.

Copyright is used to describe the rights that creators have over their artistic and literary works. Under our Copyright Act, 1993, copyright applies to literary, dramatic musical or artistic work, including that which is computer generated, sound recording or film, broadcast, cable programme and typographical arrangement of a published edition.

By Alethia A. Lambert

Copyright protection arises automatically once an original work in any of the categories above is reduced to a written or recorded form. The international copyright symbol © and copyright notice which is the word ‘copyright’on a recorded medium give the public notice of the author’s or copyright owner’s claim of copyright in the work.

Registration is not a compulsory requirement to obtain copyright protection under the Copyright Act of Jamaica. However, to secure proof of ownership there are internationally accepted procedures used in Jamaica and other countries. An example is the creator mailing a copy of the work to himself/ herself by registered mail through the post-office to establish a timeline.

Patents A patent is an exclusive right granted for an invention. Under the Jamaican Patent Act1857, an invention is described as ‘any new and useful process, machines, manufacture or composition of matters or any new and useful improvement thereof’. The legislation stipulates that a patent may be granted to an inventor of new and useful processes, machines, manufacture or, composition of matter, or of new and useful improvement which shows inventive ingenuity – that is, improvement on the known state of the art. The invention must provide public utility, which means it must be capable of being reproduced in many quantities and used by the public. Any inventor or anyone who has the inventor’s permission to apply for a patent may obtain the patent by complying with the requirements of the Act. A patent is valid for 14 years from the date which it was granted. However, the Patent Act provides that the GovernorGeneral may, if it is considered expedient, extend the patent for a further term of seven years. The process for obtaining a patent in Jamaica involves making a petition to the Governor General along with submission of supporting documents. These are filed with the Jamaica Intellectual Property Office following which they are forwarded to the examiners for technical assessment of the invention. The examination of patent applications is quite thorough, as in addition to verification of novelty, examiners are called on to assess whether the invention is new and useful. If these conditions are met, the application is recommended for grant of patent.

Trade Marks The Trademarks Act, 1999, defines trade marks as “any sign that is capable of being graphically represented and capable of distinguishing the goods or services of one from those of another undertaking”. A “sign” includes a word including a personal name, design, letter, numeral, colour, combination of colours or a combination of the foregoing or the shape of goods or their packaging.

A trademark is therefore a sign capable of distinguishing the goods or services of one business from those of other businesses. Some popular local trademarks include “Gracekennedy”, “Walkerswood” and “Red Stripe”. In addition to a trademark which distinguishes the proprietors’ goods or services, there are two other categories of marks. • Collective Mark – this is a mark distinguishing the goods or services of members of the association, which is the proprietor of the mark, from those of other undertakings. Examples of associations include accountants, architects and engineers. • Certification Mark – a mark indicating that the goods or services in connection with which it is used are certified by the proprietor of the mark in respect of origin, material, mode of manufacture of goods or performance services, quality, accuracy or other characteristics. For example, the Scientific Research Council or Coffee Industry Board certifying its mark on a particular product.

Value of Trademarks Having a trademark confers a property right on the proprietor of the trademark, ensuring that he/she has the exclusive right to use the mark to identify his/her goods or services, or to authorize another to use it in return for payment. It also forms part of the promotion of the goods or services and restricts the efforts of unfair competitors, such as counterfeiters, from using similar distinctive signs to market or promote goods or services of inferior quality.

Other Forms of IP While copyright, patents and trademarks are well known forms of intellectual property rights, it must also be noted that industrial designs and geographical indications are other types of intellectual property. All applications for trademarks and patents must be made to the Jamaica Intellectual Property Office. This agency provides a central focal point for the administration of IP and has the mandate of administering in Jamaica intellectual property systems. Jamaica is party to several IP treaty obligations under the World Intellectual Property Office and World Trade Organisations including the Berne Convention for the Protection of Literary and Artistic Works, the Rome Convention for the Protection of Performers, Producers of Phonograms and Broadcasting Organizations and Agreement on Trade-Related aspects of Intellectual Property Rights.

FINANCE

By Hodine Williams

“Puff puff pass...” To college or even high school students this phrase might be all too familiar. In Jamaica, certainly, the idea, the actual use, and prevalence of marijuana are all not so much a big deal. Well, unless you happen to be from a particular income quintile which has arguably been unfairly targeted by law enforcement personnel over the years. International pressure and of course our laws, may prohibit and frown on such indulgence but society in its collective consciousness has no great issue, especially those of us who support the use of the ‘herb’ for religious and recreational purposes. Generally, most Jamaicans have means of access to ‘bush’ if they so desire or have actually partaken in smoking a ‘joint’ or two. If we have a grandpa or granny from the country then we might have used a concoction of marijuana and pimento to sap our pains away. Well, if that isn’t the case or not really your reality, we might have had a sip or two of the tea to address an illness or to help with studying (or so they claim). If this is also not the case then ‘Trixie’ our tame pup, might have had a few laps prior to becoming the great guard dog she is and perfectly able to ‘sen on some bite’. And, if all that doesn’t apply, then we knew a few cool friends who were always smoking a joint.

Weed Country

Jamaica is renowned for having some of the best weed in the world. Whatever the variety, we seem to be rated favourably (this is an unverified comment). Someone might be all too anxious to bash me in the head and utter “hey bwoy this is no rumour!”; so, that being said, I am only left to accept that it must be a combination of the soil, sun, and other factors unique to Jamaica that gives us a inimitable selling point in weed production. Given that we have such a competitive edge, then why aren’t we exploiting it to our actual benefit and advantage?

Opening the Gate

The recent decriminalisation of marijuana via the amendment to the Dangerous Drugs Act is a long awaited move in the right direction. We must remember that this new development doesn’t mean that marijuana is now ‘legal’ but it means it’s no longer a criminal offence to possess less than a certain quantity. Some groups will welcome the changes especially our Rastafarian brethren who have been victimised even prior to independence. Some significant effects of the amendments are that they: • Make the possession of small amounts of ganja a non-arrestable offence, and instead make it a ticketable infraction that does not result in a criminal record; • Permit the use of ganja for religious, medical, scientific, and therapeutic purposes; and • Facilitate the granting of licenses to permit the development of a lawful industry for medical marijuana and industrial hemp.

Many persons are thinking it is ripe to endeavour into some kind of business involving marijuana and our marijuana prophets are singing of the star in the horizon. In case it isn’t yet clear to you, there is a brand new industry coagulating right before our eyes. Some early investors in marijuana are still uncertain about the possible gains and the hurdles to be passed, especially since the marijuana business model has not yet been perfected or even instructive by any significant means; well, at least the legal business model. The potential early investors are weary and they are of the view that they could lose their precious investments mainly because the international position and pressure groups are vigilant in their fight against the substance, this is made worse given the fact that the local political chips don’t fall in their favour. Notwithstanding, I believe there are several benefits to be derived from ‘mari-bizz’. We are arguably ahead of the game in many respects but we need to act now before our competitors perfect their products and their game. We all know that the ‘bullies’ will make good their products and business models before they push to have the rest of the world ‘legalize’ marijuana and then and only then, will they allow everyone to enter the industry - but not before they are perfectly poised to sell to everyone else including to us, one of the renowned sites for ‘good weed’.

As with any new business venture, big rewards call for big risks. Things aren’t necessarily going to fall in line and favour doesn’t always find you. There's hardly a business model with buzz that rivals the cannabis industry. There are a myriad of options to pursue. Take for example, medicinal marijuana (weed for cancer patients etc), marijuana tourism, by-products from marijuana, and also medicine derived from marijuana. But in order to facilitate the expansion and growth of the industry, the political will has to be strong and decisive. The political machinery has to be just that – facilitative. It would be interesting if the Government could do some projections in relation to the tax revenue yield if the marijuana industry would be properly oiled and regulated. With the new thrust for better compliance in the Jamaican private sector and efficiency in tax policy and collections, this might be a good source of revenue for the Government. But the Government will need to plan carefully as to not cause stymied growth for the industry via unnecessary burden. This might be more of an inertial push given the international concerns.

Well, whichever the case, persons are of the view that ‘mari-bizz’ will become a reality. Worse case is that Jamaica in its usual stead will follow the rest of the world as it concerns actual establishment of the formal regulated industry. As full legalization is spreading from one geographical location to another, many persons are of the view that it’s just a matter of time before Jamaica joins the bandwagon. As the world turns and as the spread of legalization facilitate the emergence of new markets especially small and medium-size enterprises, they will be poised to take advantage of the increased demand for good ole sensemina. Internationally, there exist well-established companies globally who are already creating a niche in the market for their products. The United States has a few and in countries like Canada, medical weed has long been legal. Some European countries have stretched further to generally decriminalize the use of drugs. The statistics have indicated that such actions do not result in increases in drug

use. Further, the overwhelming statistics show that marijuana business is swiftly profitable. But for entrepreneurs who want a piece of the lucrative cannabis pie (or brownie as it might be more appropriate); the battle can be a most daunting one. Collectively, small and medium-sized enterprises face many hurdles. Given the current economic landscape which is highly volatile, archaic, and operate as a barrier instead of a facilitator, new industries will face greater impediments when you consider the high start-up costs, high tax rate, limited access to funding, and the general negative perception from powerful players who can influence many things concerning the industry. Investors will need to mull over too, the general ban on smoking and other adjacent issues as they acquire debt and churn out their savings and investments. The creation and facilitation of an entirely new industry within the local economy is expected to offer many benefits. And in situations where you bring an industry that operated lucratively in the informal economy for years, changing that set-up will have consequences, however; the ones in this respect stands to be positive. When you consider the industry in its entirety, it must be obvious that there will be no juxtaposition of the bare sale and distribution elements of the industry, which by itself will be a significant investment in the economy. What persons have not considered is the added benefit of such a new industry. There will be forward and backward linkages if you consider, packaging, marketing, distribution, other services, manpower, and support from complementary industries and so on. The potential benefits to be derived from such a move are remarkable if done correctly. Imagine if the tourism sector had a revamp and they start offering services concerning marijuana. Consider being able to offer, as part of a package, a weed bar, offering excursions to weed farms or possibly cater to certain patients suffering from ailments that require medical marijuana? Marijuana tourism sounds good and the industry stands to make considerable profits if they partner with the players in the marijuana industry. We already have a global brand and presence when it comes to weed – lets accept and work with that.

Rolling up the ‘bene-splifs’

Since this might be all new territory for most and if it is not new territory for others then welcome to the other side of the fence - the legal side (chuckles). But on a serious note, potential investors will need to decide the ideal location as well as give considerations to other factors such as the soil type, access to sunlight, temperature control, irrigation, pests, security, seedlings and the logistics of growing weed. The weed must come from somewhere before it is available for rolling – yes? Many persons have been ‘tilling the soil’ for years and have developed their own technique to cultivate the best and most potent buds. One must be cognizant of the fact that growing marijuana stands to be a pretty expensive and highly skilled venture. There is no guarantee that what you do will work. Locally, I doubt there exists any formal documentation of the ideal way to grow and process weed as the practices and experiences reside in a select few that operate way below the Harvard-style business practices. These managers and specialists have been taught by a different school

and their MBAs aren’t submitted for scrutiny by anyone – their accolades are only told as necessary. In fact, they hover in the shadows of formal business practices though at times they utilize the channels and products albeit perfectly disguised. There are a few books and other resources chronicling the experiences from other states, which I believe can be instructive even if they do not fit our current circumstances. If you have the wherewithal to tour other territories that have gone through the teething pains of establishing a marijuana business, then go ahead and take some notes. While you are at it, it might prove useful to take a detailed tour of their plants and methods of production.

Green Benefits for the Wider Economy

As the industry moves pass the age of child bearing, the externalities will increase. Added to that, the legal production of marijuana will end the monopoly that criminal organizations have on the hidden industry. It will bring it into perspective and allow other sectors to also benefit while at the same time reducing drug related crimes since the profit yields used to finance crime will be far less. Further, gangs and other sects will have a smaller pool of persons from which to recruit and the incentive to do crime obviously will be unattractive. Other sectors will grow and in short order, several other industries will move in tandem with it. Imagine a well-established industry with a personality. Soon many could consider an Appleton rum tour type of excursion offering, thereby giving patrons a hands-on glimpse of the process from soil and seed to actual blunt! The background work to get the industry might be the most painstaking part of the process but it is a necessary evil. The devil is in the details; the groundwork will have to be done and the same risks other businesses face will be apparent if not more.

You may have to market your product, deal with customer complaints, competitors, government regulations, taxes, other limitations, et cetera. The fact is, since this is the formal economy, you will need formally trained persons to ensure the business function as a well-oiled machine.

While many persons are willing and anxious about owning their own marijuana retail store or farm, we have to remember the regulations to the Dangerous Drugs Act, which is yet to be finalized. Because of the anticipated details including a regulatory body, when the reality hits, the actuality may be even more of a difficult one. You have to now contend with obtaining the relevant licenses and permits, and fall at the feet of the regulators and their dictates which might not align perfectly with your individual plans. But the hope will be that as the industry opens up, the red tapes will become fewer and persons will be afforded the opportunity to embark on their dream of actually breaking soil and throwing their seeds in with the hope that they will germinate and grow into plants of some pretty powerful THC content. For others, they might be more interested in opening up a chain of stores or offer medical marijuana or may trade the by-products. Jamaica might be able to reap many benefits from the marijuana industry if the development is surgical and properly managed. If you take for example, the pharmaceutical industry, it is not a distant possibility that we could have a thriving pharmaceutical industry specializing in drugs derived from marijuana. So far, significant benefits have been reaped from glaucoma drugs. Other possibilities for expansion exist concerning drugs for chronic pain, neurological problems and diseases, epilepsy and so on. This is an opportunity for us to take the global lead and not simply to wait on the world to dictate our future.

COVERSTORY

World Of Connections How Jamaican brands are using social media

By Hanniffa Patterson

t should be obvious that ocial media has taken over. What was once considered an entertaining pastime, is now the number one activity online, surpassing even pornography. According to a 2013 statistic, there are now over 50 million business pages on Facebook, with 40 million of these being small businesses. This may sound like a lot, but pales in comparison to the 1.44 billion users on the platform. According to one local source , Jamaica hit 1 million local users on Facebook in May 2015, an equally impressive statistic for our small island.

Undoubtedly, social media has become an essential tool in a company's brand strategy and in businesses worldwide. And in true Jamaican style, Jamaican businesses have caught the wave and are joining in. So in this world of connections, how do Jamaican brands use social media ?

1.They Share Great Content We often say in the social media marketing spheres that "Content is king". Social media is fueled by content. Good content is what will attract customers to your Facebook page, Twitter or Instagram feed, and keep them coming back. Good content spurs conversation, encourages feedback, and increases engagement. Some Jamaican brands are really making the effort to be creative and to share content that their audience will find interesting, relevant and informative. Shaun Birch, Senior Marketing Executive for Social media at Digicel Group emphasizes the importance of good content in a part of his statement to us at Wealth Magazine, when asked how Digicel uses social media to increase business «… if you’re going to use any social media platform to engage your customers for your business, you must have interesting content that customers want to see, hear and share with their own friends, which in turn helps to grow your fan base and consequently even your market share. » However, let me emphasize, the focus should never be on just selling. Ideally brands should have a healthy mix of promotional posts, entertaining posts, and informative posts. Social media is about being social, building community and increasing interaction.

2. THEY SHARE CONSISTENTLY. If good content is king, consistency is queen. The research suggests it. One action that significantly contributes to engagement, is consistency. Why? The more you post, the increased likelihood that customers will see your posts and engage with them. This is especially true for platforms which have a live newsfeed such as Twitter or Instagram. Users will also come to know that you offer consistently good content. Posting once, or twice a week will not be enough to build momentum or a following. The Jamaican brands doing well in social media, post regularly, at least a few times daily depending on the platform. However it is important not to post so frequently as to become a nuisance. Finding the ideal rhythm for your business and the specific social media network chosen, is key.

3. They combine their social media marketing strategy with a strong offline / traditional marketing strategy. Contrary to what some may believe, social media works best when it is nourished by traditional marketing. By having a strong traditional marketing push, companies will have the necessary content to share with their social media followers online. If one examines the pages of many Jamaican brands doing it right, you will see that a large part of their strategy is in fact, fed by their other marketing activities. Digicelâ&#x20AC;&#x2122;s sponsorship of various sporting and entertainment events such as the Caribbean Premier League Cricket or even the Rising Star TV show are two excellent examples. The build up to, and highlights of these events serve as ideal content for sharing online on their various social networks.

4. By tapping into the consumer culture Point three ties closely in to this our fourth point. To better reach their customers, companies need to truly understand their clients and one thing I believe that Jamaican brands do particularly well, is understand their customer culture. Jamaica has a strong party/entertainment, sports and also religious culture. Many Jamaican brands have tapped into this and included it in their social media strategy. Brands such as Digicel, Red Stripe and Appleton are prime examples. These companies, understand what their ideal customers enjoy (in this case a party, reggae show), align themselves with these values/ events then share content around these values. They sponsor and highlight events that are relevant to their customers, then share the content. This then increases engagement and discussion around their brands. It is no surprise then that three of Digicelâ&#x20AC;&#x2122;s highest liked posts on Facebook fall into the above mentioned categories. - The Sumfest (entertainment) pinned post has a total of 5,458 likes and 83 shares. - Their congratulations to the Reggae boys Gold Cup win (sports) received 1,138 likes, 145 shares and a whopping 70 comments. - A post mentioning God (religion) received over 531 likes and 34 shares in only 6 hours. Even companies that may not be direct sponsors or hosts of an event can and do still take advantage of tapping into the customer culture. They do this by simply sharing content and updates around the event in question. For instance the Jamaica Biscuit Company (Excelsior water crackers), gets in on the sports culture by sharing posts on the Tallawah cricket game at Sabina Park.

5. As a tool for customer service. Thanks to social media, customers and businesses have a direct, affordable link to communicate with each other. Businesses can share their products and customers can ask questions, give praise or make complaints. Smart Jamaican brands are using social media as a tool for customer service. Equipped with a dedicated social media customer service agent(s) (and at times a dedicated social media channel), they respond to client concerns, queries and interactions in a timely and professional manner via their Facebook, or Twitter pages. Island Grill seems to do a good job, responding within a few hours of receiving Facebook queries and posts. Lime Jamaica also responds quite quickly and consistently and does so with a pleasant and at times humorous wit and tone. Mr. Birch of Digicel also touched on the importance of social customer service to their company in his statement "Currently, customers have a variety of ways in which they can reach usâ&#x20AC;&#x201D;... However, as a large company, giving our customers the option of communicating with us via social media also helps to make us more â&#x20AC;&#x2DC;realâ&#x20AC;&#x2122; to our customers; they get to interact with real persons with real personalities on a platform that is comfortable for them, whether that is Facebook, Instagram or Twitter. "

6. For Brand awareness and brand amplification : To Build upon a strong brand identity Thanks to social media, brands have the opportunity to spread their name to a large and growing online audience and to do so very quickly and affordably. In addition, companies who may already have a clearly and well established brand identity can use social media to simply amplify it. Essentially, social media provides a way for them to shout, " This is what we do and who we are - join us! ". Thus increasing their brand awareness and helping them to position themselves firmly in the minds of their customers.

7. They harness the power of people

Jamaican businesses are using social media to harness the power of people. Some brands understand that they donâ&#x20AC;&#x2122;t always have to create their own content, but can also make use of user generated content. Three ways of doing this are for example through contests, by using hashtags and encouraging brand advocates. By encouraging followers to use a brand specific/unique hashtag, companies can create an organized and searchable collection of relevant content that they can share on their social profiles as user contributions. This also serves a dual purpose, as being featured on the brand account will help customers to feel part of the brand community. Appleton Jamaica is a good example here with their #rumrules hashtag and Red Stripe Jamaica with #redstripevibes. Brand advocates, are not to be confused with brand ambassadors, as they are not celebrities. They are instead loyal customers who are genuinely passionate about the brand and willing to share about it to their sphere of influence. These individuals then help to spread the message of the brand to and through their online networks.

8. They are diversifying their platforms For a long while Twitter and Facebook seemed to be the social networks of choice for many smaller local businesses. However, some have stepped out and are also exploring the power of other networks for example, Instagram. Instagram which is simple and highly image based, is excellent for promoting products, offers, and events. Evidence even suggests that it offers better engagement for brands than Facebook. Some local celebrities, have also begun exploring another network called Snapchat. Though local brands have not totally abandoned the familiar platforms, they have seen the benefit in diversifying and going where their ideal customers are.

9. They invest money Social media is now pay to play. The return one can get organically, through simply posting pictures and inspirational quotes online has reduced significantly. Even having thousands of likes is not enough, as only a small percentage of a Facebook page’s actual followers will ever see a post, in some cases as little as only 1% . To increase reach and get highly targeted clients many Jamaican brands know that they have to invest money into their social media budget. This could be through paying for advertising, investing in social listening software or hiring dedicated social media management staff.

10. Use the power of their network

Finally, one does not have to be a large established brand or business to benefit from the power of social media. One local independent businessman Mr. Sandor Panton of top5jamaica.com, has nurtured and developed his own personal network to build and grow his business brand. Mr Panton says « My company has evolved over the years, and in its present form (a digital marketing agency) exists because of social media. While, ironically, my company doesn’t have its own social media presence, since 2008 I’ve used my personal social media channels to build a significant audience, and from this I’ve generated numerous new business leads, clients and even speaking engagements. For him, social media is for everyone, not just larger brands, but small and medium sized businesses too once they choose their platforms and methods wisely. « It’s my firm belief that every company can generate new business through social media, but the key here is to identify the channels and methods that are a perfect fit for the company. » In conclusion, social media is here to stay and only the businesses and brands that see its importance, who learn to capitalize on the opportunities it provides, and who do so quickly, will be able to truly harness its power. With a clear well thought out social media strategy, social media can benefit any kind of business, be it a large telecommunications and media company such as Digicel or a mid -sized, or even smaller one-person business. It presents an opportunity to reach more customers more directly and to engage and build a community with them. Thanks to social media, one’s customers are no longer limited to those within a direct geographical region. A local business

in Montego bay, Jamaica, can cheaply and effectively access customers located all over the island and even the world. Jamaican businesses should continue to take strides in the world of social media. It’s a constantly evolving field with lots of room for businesses to learn and grow. For those who perceive this domain to be overwhelming, don't hesitate to get help. The benefit of producing great content, being consistent, understanding your customer culture, combining your social media strategy with a solid online marketing strategy and investing the necessary time and money into your social media marketing, can reap great rewards and prove well worth the while for your business.

Serious About Business – Business Access TV Now On Air The highly anticipated debut of Business Access TV has finally arrived. The television station went live on July 12 on the FLOW platform. Viewers can now tune in to channels 185 on the Legacy or 145 on AVS platform to be entertained by shows that not only highlight the serious side of business but also delve into the relaxed and often unseen side of the business world. Some of their programs include: Business News, Cameo, Career Moves, Helping Hands, Creating Wealth Game Plan and Chill Spot. Be sure to tune in as the brands continue to ‘Educate, Inspire and Empower’.

Sol Scholarship Awardees pose with Robert Jackson, General Manager of Sol Petroleum Jamaica Ltd. (L-R, front) Trudy- Ann Davis, Saschelle Ricketts, Charlette Clarke, Soneillia Green, Robert Jackson – GM Sol Petroleum Jamaica (L-R, back) Rushaine Goulbourne, Cynanie Sawyers-Haylett, Dexter-Dean Colquhoun, Michael Berry.

Sol Scholarship Presentation at Mona Visitors Lodge (L-R) Robert Jackson, General Manager (Sol Petroleum Jamaica Ltd), Professor Ishenkumba Kahwa, Deputy Principal of UWI, Mona & Andrew Rollins, Director and CFO of The Sol Group.

Members of the Sol Petroleum local and Regional team at the Sol /UWI Scholarship Awards Reception (Mona Visitors Lodge) (L-R, front) Dwayne Worrell, Marketing Assistant (SOL CARIBBEAN LTD), Gina Cummins, Brand, Communications & External Affairs Manager (SOL CARIBBEAN LTD), Andrew Rollins, Director and CFO of The Sol Group, Robert Jackson, General Manager (Sol Petroleum Jamaica Ltd). (L-R, back) Roger Bryan, Sol Regional ManagerBarbados & Western Caribbean, Simone Wardlow- Wright -Accountant, Loncey Earle-Frontline Technical Support, Karoline Smith – Marketing Implementer & Colinnette Wilson –H.R /Admin Officer (Sol Petroleum Jamaica Ltd.)

The Sol Petroleum local and regional teams were out to support the Annual UWI Career fair held at the University of the West Indies, Mona Campus. The Expo which is hosted by the department of Placement & Career Services attracted quite a number of companies from the private and public sector who provided the UWI students with Career advice, internship as well as employment opportunities. (L- R) Cynanie Sawyers -Haylett ( Sol Scholar), Dwayne Worrell (Marketing Assistant), Karoline Smith (Marketing Implementer), Shola Mapp (Marketing Assistant), Loncey Earle (Frontline Technical Support) & Colinnette Wilson (HR/Admin Officer)

Schools’ representatives who were recipients of British Council’s International Schools Award

The Minister of Education (centre), Hon Rev Ronald Thwaites along with Project Manager of British Council Morland Wilson (left) and Permanent Secretary of Ministry of Education, Mrs Elaine FosterAllen gazes in amazement at the centrepiece during the British Council JTC International School Award.

Eric Hosin, president of Guardian Life hands over their $1million sponsorship check to Nicole Aiken-Pinnock, captain of Jamaica’s Sunshine Girls and Marva Bernard, president of the Jamaica Netball Association.

Molly Rhone, president International Netball Federation, Eric Hosin, president of Guardian Life, Nicole AikenPinnock, captain of Jamaica’s Sunshine Girls and Marva Bernard, president of the Jamiaca Netball Association share a moment at the Guardian Life Adopt a Player partnership event.

Hon. Dennis Lalor, O.J. Chief Executive Officer of ICWI Group Limited addresses the audience at the Fortis 5K launch.

Lt. Col Jamie Ogilvie, team manager Hyacinth Smith and Shasher-Gaye Henry, wing attack/defence in deep conversation at the Sagicor Adopt a Player handover event.

Patrons eagerly awaiting the go ahead to start at Guardian Life’s 5K event.

The Sol Finance ladies were out to support the Launch of Shell Helix Ultra with Pure Plus Technology: (L-R) Simone Wardlow –Wright, Tashna Sinclair, Camica Jones, Deniese Whyte & Vinnette Herridge.

Tamicka Bonnick, Teacher at KC with students at the Fortis 5K launch.

Members of the Sagicor team participate in an impromptu netball challenge at the Sagicor Adopt a Player commitment event.

Olympian, Nesta Carter, Jerry D, Dr Sara Lawrence, President of Guardian General Jamaica , Karen Bhoorasingh and Member of Parliament for South East St. Andrew Julian Robinson at the start line of the Guradian Life 5K.

L-R Wendy Wallace of Sol catches a photo op with Becky Stockhausen of AMCHAM

Sol & Shell Executives at the Launch of Shell Helix Ultra with Pure Plus Technology (L- R) Murray Fonseca Sales Team Leader - North Latin America (Shell Lubricants), Karoline Smith (Sol Western Caribbean), Jonathan Briceno (Shell Lubricants Cluster Marketing Manager for Latin America ), Juan Veras ( Group Lubricants Manager – Sol )

Book us now for your next corporate event. Contact: tricia@cmeja.com or (876) 754-2075. For full album visit www.facebook.com/wealthmagja

Karl Lew, Managing Director Barita Investments Limited has a conversation with Safiya Carroll, Terri-Karelle Reid at Barita’s Investment Product launch.

Chief Executive Director of the Jamaica Business Development Corporation (JBDC), Valerie Viera shows off sponsorship check received from National Commercial Bank for the 2015 staging of the JBDC Small Business Expo.

Cameron Burnett and Enith Williams collect tokens of appreciation from Ian McNoughton at the Barita launch of their new JMD and USD Investment products.

Ava Bigby-Edmond, Retail Sales Manager GraceKennedy Money Services poses for a photo-op with Tshani Jaja, Marketing Manager – Global Directories and Michelle Thompson, Sales Manager – Business Access TV.

Sponsors for the 2015 JBDC Expo pose for a photo-op with Valerie Vere, Chief Executive Director of the Jamaica Business Development Corporation and The Hon. Anthony Hylton, Minister of Industry, Investment & Commerce.

Valerie Vera, Chief Executive Director of the JBDC, Harold Davis Deputy CEO - JBDC, David Cuello, Solutions Architecht - C&W Business, the Hon Anthony Hylton, Minister of Industry Investment and Commerce, Audrey Tugwell Henry Senior General Manager, Retail Banking Division - NCB and Tshani Jaja, Marketing Manger – Global Directories

Jamaica Exporters’ Association President Marjory Kennedy speaks with chairman of the Jamaica Chamber of Commerce Civic Affairs Committee Sameer Younis at the JCC’s annual awards ceremony. Garth Walker Chairman and Managing Director of Business Access TV in discussion with Delano Forbes CEO/Creative Director at Phase 3 productions limited at the Jamaica Chamber of Commerce awards Ceremony.

Kim Bernard, Sales & Marketing Executive at Stewarts Motors-BMW Jamaica speaking Ariel Fermangez, Argentinian Ambassador and his wife Helene at the BMW - We Are Honoured to Reward Your Duty Event. Manfred Vogt and Duncan Stewart share some info with Joachim Schmillen, Ambassador of the Federal Republic of Germany in Jamaica and the Bahamas and Dr. Jose Tomas Ares German, Ambassador of the Dominican Republic in Jamaica at the BMW Jamaica - We Are Honoured to Reward Your Duty Event.

Florette Blackwood – Senior Director of Sports, Office of the Prime Minister, Denzel Wilks – General Manager, Sports Development Foundation and Carl Chang – Managing Director of Western Sports greeting young tennis star Michaela Stephens. Lesley-Claire Fraser, Human Resource Manager at Western Sports has a laugh with

Richard Lumsden, Deputy Director General of PIOJ making a presentation at the YEA’s Policy Forum – Vision 2030: Jamaica, the place to do business?

Natasha Hendricks, YEA Policy Committee Chair sitting alongside an attendee at the Young Entrepreneurs Association of Jamaica’s Quarterly Forum.

Health & Wellness

The Secret to your

Weight Loss Breakthrough

nless you have been living under a rock for the past few years, you must be aware aware of the importance of a healthy lifestyle. That is to say the importance of engaging in regular exercise and eating healthy foods. It seems everywhere we turn these days, we are being encouraged to make healthier food choices, to drink green juice or to participate in a 5K. And if you want to lose a few pounds (or more than a few), you certainly know the basics: move more, eat less – or at least, eat less junk food. But what if there was something more? What if the key to your weight loss breakthrough is not dependent on the foods you eat or the exercises you do? What if you unknowingly held the key that you have been searching for all along? Losing weight is less about the numbers (the calorie-counting, the minutes on the treadmill, the amount of weight you lift, etc.) and more about your attitude, and your mind-set. When you set out on a weight loss or “get healthy” objective, the typical course of action is to find a plan or program that you find easy enough to do, get the necessary tools in place and proceed. The problem here is that even with the best of intentions, many times this kind of approach fails. But why? Because your body is intelligent and is impacted not only by the physical demands placed on it, but also and sometimes more so by the mental, emotional and spiritual ones. When you focus only on the biology of how your body works, you are just treating the symptoms of your problem instead of seeking to find the cure.

By Kara-Sue Sweeney

Excess weight or poor lifestyle habits are the results of poor thinking. If you have a negative outlook (read: bad attitude) about your life, your weight, your circumstances, etc. then you will continue to perpetuate the problem that you are desirous of changing. Everything begins with your thoughts. As James Allen so aptly illustrates in his ground-breaking classic, As a Man Thinketh: “A man cannot directly choose his circumstances but he can choose his thoughts and so indirectly, yet surely, shape his circumstances.” When you change the way you are thinking about weight loss or healthy living, then you will change your body’s response to it. Your actions or lack thereof are a direct indication of how you think and what you truly believe. If you know you should be exercising five days per week or eating healthy foods but you don’t, then what does that say about your beliefs? Could it be that you really don’t care about losing the weight? Could it be that you don’t believe you can lose the weight? Could it be that the pleasure and comfort of doing nothing feels so much better than the pain of exercise? And so even though there are longterm consequences for not choosing the healthier lifestyle, you still continue

to make poor choices because it’s just easier to do that now, than worry about the long-term effects Whatever the reason, take a few moments to ask yourself why? You must have an underlying reason or belief for why your health is not more of a priority in your life. When you discover the reason or belief you may realize that it is based on a false premise and therefore, you can go about changing it. Another reason you may not be seeing the results you would like is because of the words you are speaking. Are you critical of yourself and your program? Do you make snide comments at those who are seeking a healthier lifestyle? Do you tell yourself that the workout is too hard or the healthy foods taste bad? Words are creative and the words you speak over yourself and/or your situation are the words that will manifest. Even if you are not enjoying your workout, speak positively about

doing it, even if it is just “I’m glad that workout is over, because I now feel great.” The more you speak positively about the healthy lifestyle choices you are making, the more your brain will reinforce the messages and you will begin to renew your mind to right thinking about healthy living. Finally, you must decide. You must decide if you want this or not. When you look at your life you will see that the things that are most important to you are the things you pursue, the things you fight for, the things you refuse to live without. In order for you to lose the weight AND keep it off, you must decide that this is important enough to you to pursue at all costs. I often tell my clients that in order to lose the weight and keep it off, they must do what they know is the right thing to do, NO MATTER WHAT. They then ask, for how long? If you are asking that question, then you are still trying to treat the symptoms and not seeking to find the cure. You do it until however long it takes for your attitude to change; however long it takes for your belief system to change; however long it takes for the words you speak to be positive; however long it takes for you to make the right choices, to take the right actions, to develop the right habits until you are living a healthy lifestyle. As you take the necessary steps towards losing weight and living a healthy lifestyle, endeavour to live by these three principles and you will enjoy sustained success: Discipline, Perseverance and Attitude. Be disciplined in your diet and exercise. Persevere until. NO MATTER WHAT. And always maintain a good attitude in your thoughts, words and deeds.

LIFESTYLE

e z i S

hy wait? Today’s young professional wants to live in the moment; the dream job, house and car. Still, for many, owning an SUV remains just that; a dream. Staying true to its slogan ‘The Power of Dreams’, Japanese automaker Honda has answered that call with a resounding yes in the form of a new crossover, the HR-V which means Honda Renaissance Vehicle.

Exclusive local dealer, ATL Automotive Limited says the vehicle has piqued the interest of the young professionals target market in a big way since it landed on Jamaica’s shores in April. “We’re already sold out and are currently selling from the upcoming shipment. A smaller size gives it a more affordable price tag than the much sought after CR-V SUV. But just like the Fit, don’t be fooled by the size, because the interior space is astounding!

It has come at a time when the segment, though still in a growth phase, has been infiltrated and dominated by other brands in recent years. But the brand with the ‘Midas Touch’ is confident that the HR-V is adequately engineered to live up to its name and change the game!

The styling is quintessentially Honda; a hot car which is bound to catch the eye. Added to that are features such as Bluetooth, reverse camera, multifunction steering wheel, smart entry and push button start, ” says Sam McKenzie, Head of Business at Honda.

The 2015 HR-V crossover blends the styling of a coupe, the toughness, space and utility of an SUV, and the quality and refinement of a Honda in one sporty, personal and versatile multi-dimensional vehicle. The well-equipped HR-V enters the fast-growing entry crossover market with dynamic yet refined exterior styling, fun-to-drive performance, class-leading fuel efficiency ratings and one of the most spacious and versatile cabins in its class. The HR-V is available in two trim levels: LX and EX. Developed on Honda’s Global Compact Series platform, the HR-V utilizes a centre-mounted fuel tank layout and reconfigurable 2nd-Row Magic Seat to deliver voluminous interior space along

! s r e t t Ma

with a flexible cabin featuring multiple seating/cargo modes. With 2834 litres of passenger space and 1665 litres of cargo volume with the 2nd-Row seats folded down, the HR-V has space to rival some competitors’ midsize SUV offerings. The HR-V’s dynamic appearance and sporty, solid stance is aided by its coupelike cabin shape and bold and powerfully tapered face. Distinctive side contours, including a sharply upswept character line and deeply sculpted lower body flow into a tapered rear fascia that adds to the visual appeal. Concealed rear door handles further enhance the HR-V’s coupe-like appearance.

OSSOVER R C V R H A D E NEW HON NGE THE GAM A H C O T D E DESTIN

up-market brushed chrome – all fitting its mission as a youthful yet refined personal crossover vehicle. The three-meter driver’s instrument cluster features “floating” illumination rings and Honda’s ECO Assist feature, wherein the speedometer illumination changes from white to green depending on current fuel efficiency. The Honda HR-V is available in the following colours: Deep Ocean Pearl, Mulberry Metallic, Alabaster Silver Metallic, Crimson Pearl, Modern Steel Metallic, White Orchid Pearl and Crystal Black Pearl.

The equally sporty and sophisticated interior features an expansive, airy cockpit with an abundance of soft-touch materials and premium detailing punctuated by precise bezels, sophisticated stitch lines and

LIFESTYLE

IND A’S “Silicon Valley”

ndia’s “Silicon Valley” just got an official name change from Bangalore to Bengaluru. India’s third largest city, population ten million, is capital of the southern state of Karnataka, as well as being India’s information technology and bio-technology hub with aeronautics and aerospace industries. While I was there in February 2015 the Huawei Research and Development Centre of the Chinese information and communication technology major was inaugurated on a 20-acre campus in Bengaluru, to accommodate almost 5,000 engineers as Huawei’s largest Research and Development Centre outside of China. Forbes considers Bangalore one of the next decade’s fastest growing cities. Having established this modern, impressive reputation in both the West and East, why change the city’s name now? It goes back to India’s illustrious history. Successive kingdoms controlled central and south India from the 4th century. Folklore says that Hoysala King Vesra Ballada II became lost on a hunting expedition. An old woman found the

By Laura Tanna

exhausted, famished monarch and fed him some boiled beans. He thereafter named the place Benda-kaalu-uru or town of boiled beans. You see how oral history can impact even modern cities? The first written reference to Bengaluru was on a stone commemorating a battle fought in 890 AD when it was part of the Ganga Kingdom. Bengaluru became Anglicised to Bangalore during British rule, hence the desire to demonstrate true independence by reverting to traditional Indian names. Although independence arrived in 1947, the name change movement began later, with Bombay to Mumbai in 1995 and in Karnataka officially in 2006 when the government announced that the name of 12 cities would change to reflect Devangiri and Kannada languages rather than English and Hindi, the two main languages used in India. But it wasn’t until October 17, 2014 that the Ministry of Home Affairs made the changes official. India is not alone in asserting such cultural independence. Consider Peking to Beijing or Constantinople to Istanbul but since only

Lal Bagh Gardens Glass House Vidhana Soudha, Karnataka Secretariat and State Legislature

one-third of Bengaluru’s residents speak Kannada, both city names co-exist, as do both traditional and modern cultures. Traditionally the city was founded in 1537 on land given by the Vijayanagar Emperor to Kempegowda, a feudal ruler who built an earthen fort and temple. In 1638 Marathas conquered the land, ruling for 50 years until Mughals conquered the city and sold it to the Kingdom of Mysore (now Mysuru – another name change). After the death of the Maharaja in 1759, Hyder Ali, Commanderin-Chief of the Mysore Army, ruled and, with his famous son Tipu Sultan, is credited with beautifying Bengaluru, especially by creating Lal Bagh Botanical Gardens in 1760. These gardens still exist, enjoyed by locals and tourists alike, as does Cubbon Park, leading to the city’s nomenclature Garden City. With the defeat and death of Tipu Sultan in 1799 during the Fourth Anglo-Mysore War, administrative control was returned to the Maharaja of Mysore, who remained a British ally through the official British Raj from 1858 -1947. Ten years after Tipu Sultan’s death the British established a military cantonment, founding both a military administrative centre over southern India and a largely English town next to the traditional city of Bengaluru. First the telegraph was introduced in 1853, then a railroad to Madras in 1864, motor vehicles in 1903 and in 1940 the first Bangalore to Bombay flight took place. A plague in 1898 spurred the city to create more hygienic conditions and British Governor General Lord Curzon opened Victoria Hospital in 1900. In 1949 the traditional city and the British-built cantonment were officially merged into one metropolis. Kempegowda International Airport Bengaluru, an architecturally stunning, modern international airport, opened 25 miles from the city centre in May 2005 making modern Bengaluru globally accessible to both business and tourism traffic.

With 89% literacy no wonder so many multinational headquarters are located here, bringing a large number of international young professionals. Texas Instruments was the first to set up in 1985, followed by more than a hundred high tech companies including IBM, Hewlett-Packard, Cisco Systems, Infosys and Wipro. The Indian Institute of Science (IISC) was created here in 1909, as was the Indian Space Research Organisation and the Indian Institute of Management (IIMB) while India’s Motor Industries Company (MICO) has a huge operation, to say nothing of the 80 year-old Kannada film industry. Temperatures are usually pleasant due to the city being on the Deccan Plateau over 3,000 feet above sea level. December, the coolest month, averages 60 degrees and March to May, the warmest, reach into the 90s; generally it’s between 79 to 84 degrees. September, October and sometimes August are the rainiest months. Considering this climate, coupled

with employment opportunities, it’s little wonder that real estate boomed in the 80s and 90s, turning single dwellings into multi-story apartment complexes. Bengaluru truly came of age when the former owner of Berger Paints and Chairman of UB Group (United Breweries, now controlled by Diageo) went into a joint venture with the Prestige Group to build India’s first luxury mall. Vijay Mallya may now be embroiled in lawsuits after the failure of Kingfisher Airlines, but UB City boasts four towers, a multitude of fabulous shops as well as international cuisine in its numerous restaurants where we found that some Indian champagne is truly dry. Alas, not enough is made to export from a country with a population of over a billion people.

Lal Bagh Gardens Pagoda Entrance

Prestige Group suburban housing on golf course

UB City Mall, India’s first luxury mall

Bengaluru is the pub capital of India, the Rock/Metal capital, and enjoys numerous religious festivals. There is a National Gallery of Art, and since 2010 both Art Bangalore and the Bangalore Literature Festival exist. The British Council, Max Muller and Alliance Française host plays, in addition to a vibrant Kannada theatre. Bengaluru is a major centre of Indian classical dance and music and don’t forget to see Bangalore Palace, St. Mark’s Cathedral and the State seat of government, the magnificent Vidhana Soudha building with its inscription:”Government Work is God’s Work”.

LIFESTYLE

Style me

CHIC

REINVENT YOUR WARDROBE

By Toni Ho-Young

WOMEN’S EDITION One of the best ways to refresh your business attire is in your skirts and tops. Adding a bold floral print, lace to a pencil skirt, a wrapped effect to a midi skirt, leather trimming to stripes, color blocking to an A-line wrap skirt or try something retro A-line and tea lengths. Present plenty of new options! Give your button down dress shirt a break and try silk blouses that tie at the neckline or printed and lace peplum tops. Floral embroidered silk organza tops are also great choices along with blouses that have a touch of sequin or jewel embellishments to them. Think outside the box and remember to have fun with reinventing your attire!

Having the usual classic, tailored blazers are always must haves. However, they too need to be updated. An effortless way to do this are to look for pieces that are easily interchangeable with your current wardrobe, transition well through seasons and can be styled from day to night. Texture and fabrications, bold or classic prints, buttons or belts, satin or slim lapels and single or double breasted are all vital options to give you elegant opulence to your day to night corporate chic, look.

Step away from the traditional trousers and embrace options that are more modern yet suitable for the office. Elongate your legs by wearing Slim Fit or High Waisted trousers. Add a bit of flare by wearing Wide Legged trousers and Palazzo pants. These modern options are still conservative but keep you looking trendy, sophisticated, and like a modern day business woman. Toss those traditional pencil dresses to the side, There are so many other styles of dresses to embrace: A-Line swing dresses, structured dresses, wrap dresses and Michelle dresses featuring pleats and appropriate split lengths.

CAREER

Gillian Hyde 80

General Manager, JN Small Business Loans

Behind the Desk 1. Tell us about your current position. As General Manager of one of the caribbean’s premier Microfinance Institutions, JN Small Business Loans (JNSBL), I oversee a dynamic team of approximately 130 employees delivering innovative and affordable credit to micro and small entrepreneurs who have limited access to funding from traditional banking sources. We provide a suite of products from our 27 locations island-wide, with an office in every parish across Jamaica supported by over 300 payment options island-wide. 2. What motivated you to choose this field? My experience as a member of the JN Team over the last 12 years, an organization which prides itself in helping its members and customers “find a way” supported my growth and development and positioned me well for just about any opportunity which presented itself within the JN Group. Over the years I served in several areas, namely, Finance and Corporate and Strategic Planning where I was an integral part of the team as we charted the path for the achievement of significant milestones throughout JNBS and its subsidiaries. During my brief tenor as Executive with responsibility for Customer Service and Member Ombudsman, the qualities required to drive superior customer experience and meet customer needs were further enhanced and again provided an opportunity to broaden my spectrum. 3. Does social media play an important role in your job? Social Media is increasingly becoming a greater part of my job as we try to extend our reach as an organization and as I assume the position as leader of the organization. It is also becoming increasingly important as we try to network and maintain a strong presence in the marketplace.

4. Tell us something about you that is not known to many people. I have a very strong relationship with Christ and remain an active and integral member of my church as they charter on their own growth and development. I believe that my journey is dictated by Christ and that all things remain possible through his will. 5. How would you describe yourself? I am a strong jamaican woman who is constantly seeking to utilize my attributes and special giftings to positively impact the lives of others. I have grown into an individual that no longer fears a challenge but uses each challenge as an opportunity. My life experiences, values and journey as a Mother continues to mould and develop those innate characteristics that not only make me a good family manager and home maker but a woman who balances life’s demands well and provides an organization like JNSBL with strong governance that will support achievements of goals and objectives. 6. Where do you see yourself in the next five years? This is a difficult question to answer. If you asked me this question 5 years ago, I would not have seen myself here. And so as I position for the next 5 years, I position myself to take advantage of those opportunities which will bring greater purpose to life and to continue to impact the lives of all I come in contact with. 7. What advice would you give to young business professionals? As I am reminded by the many leaders around me and by the many books on Leadership that I continue to indulge in, Dr. Myles Munroe in his book “The Spirit of Leadership” reminded me that though we all possess the instinct and capacity for leadership, we must have the courage and will to cultivate it. To my fellow young business professionals, let’s not be caught up with position or power, but use our positions to influence, to truly lead. Let leadership be about the life you live and not about the position you hold. Let’s be in passionate pursuit for True Leadership.

CAREER

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regular (though not obsessive) conversations you can get clients to want to join in the discussion that you are having around your business. Then, not only will they come, but they will also invite others and possibly become your brand’s ambassadors.

1. Social media is a conversation. Firstly, social media is a conversation. This means both parties involved are participating in the discussion, sharing and listening to each other. Conversations build trust and trust is important in business today. There are so many similar high quality products/ services available to customers. Why should they choose you? It is through conversation that they will discover who your company is and what it represents. Your customers want to know that your company is human, has a face, a heart and values. They need to see their values and principles in your business. This will motivate them to eventually want to “commit to the relationship” by hopefully buying your products or using your service. 2. Being present is not enough. Simply being present on one or many social media sites is not enough. I’ve come across many businesses, who have set up a Twitter account, or a Facebook page and have NEVER looked at it since. Social media does not subscribe to the the adage “If you build it they will come” (even if it is very well built). However, through a captivating and honest story, and

3. Post, not bombard. This leads us into our third point. As with any conversation, it needs not be constant. Many companies believe that their Facebook page or Twitter account should be incessantly buzzing with commentary from their social media manager; in the case where your company caters to clients across diverse time zones, maybe. However, if your opening hours are set, there is really no pressing need to do so. Instead, on time, relevant responses and engaging content during office hours may be enough. In addition, no client wants to be bombarded by numerous messages/posts reminding them that you’re having a sale tomorrow. With your social media consultant (or even on your own) try to work out a good rhythm for posting based on your product/service, demographic and time constraints.

you, by the other hundreds or thousands of members on your Facebook page). Believe me, there will inevitably be cases where a client may be displeased. It is VERY TEMPTING to ignore the negative comment or to simply delete it. However this is never a good idea. Instead, a pleasant and speedy response is always the best option.

4. Face customer services issues head on! Finally, in social media there will be issues. Just as it was with the telephone, clients not only called in when they were pleased with a product, they also called in to complain. Why then do we think it would be any different with social media? Especially now when customers can really have their say without fear and are guaranteed an audience (if not b y

REVIEW

Book Review By Kamau Mahakoe

Money Moves That Matter - Simple Steps to Become Debt-Free

Author: Tagene Brown-McBean Publisher: CreateSpace Independent Publishing Platform (March 28, 2014) ISBN: 978-1494399283

re you tired of making money moves that DON’T matter? Making money moves that sink you even deeper into debt? Well, here’s a chance to redeem yourself. Banker turned entrepreneur, Tagene Brown-McBean, harnessed her seventeen years’ experience in retail banking and churned it into a gem of a pocket book. She entered banking fresh out of high school and left debt-free, paying off several significant loans, with some to spare. How did she do it? This little book sheds light on all the money moves that you are ever likely to make – budgeting, managing cash flow, loans, goal setting, saving, debt reduction, the infamous credit card and, what we all yearn to master, wealth creation. Tagene explores the habits of the rich that keep them rich, and the habits of the poor that keep them poor. She clears up long held misconceptions that have been drilled into our subconscious about money, by family, friends and well-wishers who, like us, meant well but just didn’t know any better. Yes, there is such a thing as “good debt” but it can go terribly bad, if we are not careful. Yes, some people have lots of money but may not be truly wealthy. “When a man has money problems, giving him more money does not solve the problem, because he is the problem,” explains Tagene, in the straight-forward, layman’s lingua that all can understand. “Until he learns to curb his enthusiasm and spend money with frugality, he is doomed to repeat his mistakes.” We are encouraged to exercise some tough love towards those who are parasitic in nature and band our own bellies with discipline and conscience, till we realize our goals.

This is the way a financial book needs to be written – in a style that is deliberately simplistic and honest because, who needs more complication when they are in debt? Tagene gains authenticity and credibility by delving into her personal experience, citing anecdotes and examples from her family history to demonstrate the points she makes. She uses charts and tables to show real savings and the difference that small changes can make, over time. The cover illustration resonates with me personally: a boat afloat on the water. It reminds me of the scenic canals of Venice but more importantly, the image of wealth flowing through your life and you keeping your head above the water of hard times, even as others drown in debt. “How can I get from being poor to rich without selling my soul?” Which of us hasn’t asked that question at some point in our lives? When you make money moves that really matter, your soul need not be up for grabs. This book shows that Jamaica and the wider Caribbean have nationals with the experience, expertise and initiative to offer sound financial advice and that the money-gurus don’t have to be continental to have clout.