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BLASTING YOUR BUSINESS TO SUCCESS: Financial Tips, Tricks & Traps Presentation by: Nirad Tewarie, Chief Executive Officer www.ttcsi.org About TTCSI In 2001 CARICOM Heads of Government proposed the establishment of services coalitions in member states In October 2006, the Prime Minister of Trinidad and Tobago launched TTCSI April 2007, the Trinidad and Tobago Coalition of Service Industries became an operational institution TTCSI is a Business Support Organization TTCSI : Aims & Objectives TTCSI is a federation of associations working to expand business opportunities through export-led growth through: Export promotion Data collection Policy development Advocacy Education & Training Sector organisation www.ttcsi.org TTCSI currently has 51 Member Associations, making it one of the largest single business groups in the Caribbean Sector Organization The TTCSI has been encouraging and developing local services sectors amongst them Member Associations with women entrepreneurs – FATT, AFETT, ICATT MAP OF THE CARIBBEAN “The biggest barrier between women and success is themselves” - Sheryl Sandberg What is NEEWS Economic empowerment of women of the global South through different thematic streams: Agriculture & Food Security Science & Technology Energy & Energy Security Design & Culture Construction Services Objective Re-tooling established, mid-level womenowned businesses to achieve higher levels of success through a Business Accelerator programme. HOW Mentoring / Teaming of already iconic business entrepreneurs to take these women to higher levels of success Matchmaking Training Case studies The Project Developing interventions that encourage greater collaboration among business women as well as institutions/organizations Provide the tools to accelerate women’s existing income-generating activities into stronger and more viable business What Next? We need you: mentors particpants lists of both partner organisations “The men wanted answers and the women wanted permission and help.” -Sheryl Sandberg Some truths transcend gender… Sandra Carr My professional life started at a very early age since I have always dreamed of being a Fashion Designer. As a Muslim woman for the past 27 years I have learned many things that have enabled me to be successful. Sandra Carr Fashion Design Coordinator at The University of Trinidad and Tobago (UTT) – 5 years, and for two years now the Programme Leader. Founder and Director of SHASS Design - a design label especially for Muslim women in USA and Trinidad and Tobago since 1997. Tips, Tricks & Traps Business is to make money, but do not make it your priority. Keep faith in your Creator and all things will fall into place Offer a range of services, be reliable, efficient, be punctual and keep your services/products at A+ quality. As your business grows you will be seduced by many opportunities, do not be afraid to take advantage when opportunity knocks. Be sure to know your limits. Do not let greed devour you. Focus on QUALITY not QUANTITY. Advice Stay honest and conduct all affairs with the highest of integrity. People will respect you no matter what your beliefs are. Do not comprise your honour and your beliefs. Do not let others define you. Be committed to the end and be firm even when the odds are against you. Angela Lee Loy –Executive Chairman, Aegis Business Solutions Accomplishments Inducted into the International Association of Business Leaders in 2002 Selected as an honoured member of the Who’s Who of Professionals in 2004 First female President of the Institute of Chartered Accountants of the Caribbean (ICAC) Fmr. Chairman of National AIDS Coordinating Committee (NACC), Tips for Business Success Networking - it enables you to build and maintain relationships with current customers and new prospects, share referrals and generate a word of mouth about your business. Remain objective and challenge when necessary. Maintain your perspective and gather the respect of your audience/client. Advice “Continue to feel empowered and map your own destiny. Women are great communicators and collaborators who must go with their intuition. We have the ability to be empathic to situations and therefore able to get more buy-in to deal with the matters at hand.” “As women, Our leadership position is a brand in itself and many people do not realize this.” CLAUDIA PEGUS 2011 - Awarded the Trinidad and Tobago Coalition of Service Industries, Service Provider of The Year Award 2010 - Awarded the Chaconia Medal Silver by the Government of Trinidad and Tobago for her contribution to the Fashion Industry. 2009 – “Top Caribbean Designer Female”, awarded at the Caribbean Fashion Awards. 2009 – “Top Country Designer Award, Trinidad”, awarded at the Caribbean Fashion Awards. 2009 - “Festival Designer of the Year”, awarded at the Trinidad and Tobago Film Festival. 2008 – “Caribbean Master”, awarded at the Caribbean Fashion Week. 2004 - Declared “Top Female Owned/Managed Export Company” at the Prime Ministers Exporter of the Year Awards. Major Challenges and Opportunities “It begins with dreams, ambition, design and planning and being open to every right opportunity when it presents itself.” Confidence Overcoming fear and Obstacles Raising Capital without business Experience. Influencing investors to take a chance on your dreams. Managing cash flow. Market Comprehension Understanding the needs and culture of the market you wish to position your product or business. Power of Networking Understand the value of chance coincidences and how they can be channelled into successful opportunities. Be Ready to grasp opportunities as or when they arise. What do you need/want? Seize opportunity!! Build the Brand! Believe in yourself, but know your limits!! Develop strategic relationships!! Business is all about networking, building relationships and taking action. Be persistent & follow up. Under promise and over deliver Understand the rules; break them when you have to… (not the laws) Contact Trinidad and Tobago Coalition of Services Industries Tel:(868) 622-9229 Ext25 Fax:(868) 622-9229 Ext37 Website: www.ttcsi.org Contact: [email protected] [email protected] [email protected] THANK YOU!!!