Transcript An Excellent Life in the New Caribbean Business Environment

The Why’s of Entrepreneurship
Presented by
Sherrilene M. Collymore
Project Co-ordinator
University of the West Indies
Cave Hill Campus
The Why’s of Entrepreneurship
Welcome
Bienvenue
Bienvenido
Welkom
What is the significance of self-employment for the University
student or graduate today?
Is this for everyone? Is it for you?
Today, more than ever, it is important to ask yourself this question.
Now, let us explore subject together…
The Why’s of Entrepreneurship
Ground Rules
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Courtesies & Positive contributions only please
Turn off mobile telephones for the duration
Be open
Have a good time
The Why’s of Entrepreneurship
Intelligence & Intellect
• How would you differentiate between these two
words?
• Is it significant to the subject of success?
It is one thing to be ‘bright’,
it is another altogether to use ‘wisdom’ in your
decision making.
This is the challenge to our students and
graduates… how to apply both effectively
The Why’s of Entrepreneurship
Sustainability & Longevity
• What do these two words mean to you?
• Are they significant to the subject of success?
To be sustainable, an activity has to utilise resources which can
be replaced or renewed relatively easily.
The longevity of any activity and therefore its success are reliant
on the degree of sustainable resources applied to it.
The Why’s of Entrepreneurship
Evolution – As times are changing
• A different world, a different Caribbean
The Caribbean is positioned ‘in the middle’ between the
‘Developed’ and the ‘Developing’ World.
This gives us access to the ‘best of both worlds’.
Our region is recognised for its relatively high Quality of
Life vis a vis that of the two extremes, i.e. low perceived
risk, high levels of education.
Let us optimise this!
The Why’s of Entrepreneurship
What’s working with us?
• Observe, read the markets, note the trends
Emerging industries in the areas of culture
Personalised services of every kind especially in creative sectors
Wellness, health, new technologies…
The Why’s of Entrepreneurship
Which skills?
• What do you think is most required for the
successful business at this time?
Your interpersonal skills far outweigh your necessity for academic
skills
‘Social’ capital is highly valuable today, especially for start-up
businesses
Reputation is greatly important to lend to referrals,
recommendations and reduce the cost for marketing and
advertising
The Why’s of Entrepreneurship
Which attitudes?
• What mindset must you approach the successful
business with?
An open mind has much value, not only to allow you to see
opportunities when they come in, but to give you that resilience which is
necessary for successful business.
If you cannot see the glass as ‘half full’, you have a problem…
The Why’s of Entrepreneurship
Which values?
• Reflect on what the world needs now (cooperation vs. competition)
Funds are limited to ‘safe’ investments, which is a challenge for new
Businesses until you have a reputation to speak of
Invest in your network until you are able to present yourself
legitimately
Your network in turn will provide useful contacts for your enterprise
YOU NEED PEOPLE!
Start to value your relationships!!
The Why’s of Entrepreneurship
Who is going to help?
• Private sector / Donor community
• Government
• University
Their interests?
DEVELOPMENT
Demonstrate an interest in your own, your country’s, your region’s
or your world’s development, and you will have full support.
The Why’s of Entrepreneurship
Next steps
• Stick with us!
• Help us to build our database; network = social
capital
You decide where you want to go.
We will facilitate your ideas, your development, your process.
The network will help you to grow naturally and competitively
The Why’s of Entrepreneurship
SEED Agenda
• Mentoring and one on ones on business life and
self sustenance
– Partnering with Barbados Youth Business Trust, a
best practice Enterprise Development entity and other
reputable entrepreneurs
• The sharing of information, pointers and
resources
– Workshops, consultations, ‘middle man’ activities
• Sustainable business ideas and involvement with
the community
The Why’s of Entrepreneurship
Thank you!
Let’s start asking questions…!
[email protected]
http://www.cavehill.uwi.edu/seed/
246-417-4010
The Why’s of Entrepreneurship