The Blog Enterprise: #8

In this week’s issue:
  • Quotable Quote
  • As A Small Business Owner Do You have what it takes to run 9.58 seconds over 100m?
  • ‘Young Traders of the Future’ Forex Seminar Launched
  • How To Secure A Scotiabank SME Development Loan
  • What does the International Monetary Fund do?
  • BUSINESS PROFILE: Q&A Violet Taylor
  • 10 Ways to Motivate Your Team During a Recession

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Quotable Quote: "Change your thoughts and you change your world." Norman Vincent Peale

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As A Small Business Owner Do You Have What It Takes To Run 9.58 Seconds Over 100 m? [caption id="attachment_283" align="alignleft" width="450" caption="Jamaica's Usain Bolt, right, crosses the finish line ahead of Tyson Gay of the United States, right, to set a world record in the men's 100 meters at the IAAF World Championships in Berlin on Sunday. (Herbert Knosowski / Associated Press / August 16)"][/caption] As a small business owner you are no different from a world record champion athlete – in this case, let’s name the athlete, Usain Bolt, who just recently clocked the fast times ever over 100 metres - 9.58 seconds. It was the biggest increase in the record since electronic time was introduced in 1968. The occasion called for celebration, and according to Jamaica’s Prime Minister Bruce Golding, “this is another proud moment for Jamaica, another demonstration that we can succeed at whatever we put our hearts to. Usain Bolt is a testimony to what successes we can achieve through discipline and hard work.” Not only are we proud of our athletes, but we should also be proud of our entrepreneurs and small business owners – without them, the engine of the economy would have halted to a grind. For you to be a successful entrepreneur, you have got to prepare yourself just as a top class athlete prepares of an upcoming event. And sometimes the best tool an entrepreneur can have is to pull together the right team. Very few people are gifted in all areas of business, so it just makes sense to find individuals that are a compliment to your business objectives. In the athlete’s case, he has got to surround himself with the best support team possible so that, and in the words of Bolt after the race: “I make sure that I ran a good, perfect race, there was no worries.” Most successful athletes like Usain Bolt know how to manage resources. Sometimes that means knowing when to call in reinforcements and not being embarrassed to acknowledge your areas of weakness. Chances are good that you will learn something from your employees, just as the successful athlete learns from his support team, while you work together to capture your vision for business success.

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AFY Ministries Launches New Forex Trainng for ‘Young Traders of the Future’ AFY Ministries, a Jamaican non-profit organisation, has recently launched a training programme that it calls: “The Young Traders of the Future” which invites you to begin learning the basics of Forex Trading or take it to the next level. It’s provides high quality training and educational resources for foreign exchange ("Forex") traders. [caption id="attachment_280" align="alignleft" width="227" caption="Errol Jones, President, AFY Ministries"][/caption] “The training contains information that will allow the novice to develop an understanding of basic trading techniques, risk control, and finally opening and managing a ‘Live’ trading account,” said Erroll Jones, President of AFY Ministries. In a recent interview with Erroll, he explained that the Young Traders of The Future participants can successfully achieve with proper training and disciplined application of an effective trading strategy.  Young Traders of the Future has put together a training programme to guide you through this process.  The weekly training programme, which caters to beginners and advance participants, focuses on the following training module:
  • Market Background - Review the basics of the foreign exchange market and what makes it work.
  • Open a Demo Account - A free tool to practice strategies and order placement in a realistic environment.
  • Making Trading Decisions - Develop your strategy for successful trading. Includes the fundamentals of technical trading and charting.
  • Entering Trades - Learn how to place trades online, including strategy and order placement mechanics.
  • Controlling Risk - Perhaps the most important aspect of trading longevity.  Learn about stop loss placement and overall risk reduction.
  • Exiting Trades - Learn effective methods of taking profits and cutting losses.
  • Open a Live Account - Open a live trading account to begin making actual money.
  • Trading Resources - Tools and information to enhance your trading performance.
[caption id="attachment_260" align="alignright" width="150" caption="Money, Money, Money!"][/caption] Some of the applicants who will be invited to attend these seminars will be attending free of cost, according to Erroll, who explains: “AFY’s goal is to invest in the empowerment of people who are disadvantage, disable, destitute.  We want to encourage, energise, and organize youth in our society to work for change. Help them deal with the problems of youth unemployment - encouraging efforts to turn them in self-reliant, self-maintaining citizens.  We want them to achieve their fullest potential.” To be a part of this exciting training programme, please contact call or eMail for further information: (876) 321-7895, eMail:youngtradersofthefuture@gmail.com; Twitter @youngtraders; eMail: afyministries@gmail.comURL:http://http://www.linkedin.com/in/afyministries Twitter: @afyministries; IM: SKYPE: afyministries

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How To Secure A Scotiabank SME Development Loan For an entrepreneur planning to open a new business, finding sources of small business financing is job number one. And for the small business owner, the most difficult task is finding the money to operate one’s business. [caption id="attachment_288" align="alignleft" width="210" caption="Working together = Growth!"][/caption] Fortunately there are a number of potential sources for financing a small business. However, financing for a small business is most typically secured through traditional sources like banks, savings and loan companies or credit unions. These institutions will use different methods to determine whether or not you and your business are able to pay back the loan before lending you the money. One such source we’ll look at this week is Scotiabank. So, if you are interested in securing a business loan at an attractive fixed interest rate, I recommend you check out Scotiabank’s suite of Small and Medium-sized Enterprise (SME) Development Programme loans. The Programme, which can be accessed through the Scotiabank branch network, lends from a pool of J$400 million and assists SMEs with the following financing options: ScotiaRunning Start: A great loan designed for business start ups to help you get your business idea off to a running start. ScotiaBusiness Builder: An affordable loan designed to help you boost your business and increase your productivity. ScotiaMSME Alliance Fund: Designed for members of the MSME Alliance Fund, this business loan will help you expand your business operations. Facilities granted for approved projects under this programme will attract fixed interest rates ranging from 8.625%to12.125% per annum.

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What does the International Monetary Fund do? The International Monetary Fund (IMF) is the world's central organization for international monetary cooperation. It is an organization in which almost all countries in the world work together to promote the common good. [caption id="attachment_262" align="alignleft" width="400" caption="The Executive Board of the International Monetary Fund, Washington, D.C. (April 19, 1999)"][/caption] The IMF's primary purpose is to ensure the stability of the international monetary system—the system of exchange rates and international payments that enables countries (and their citizens) to buy goods and services from each other. This is essential for sustainable economic growth and rising living standards. To maintain stability and prevent crises in the international monetary system, the IMF reviews national, regional, and global economic and financial developments. It provides advice to its 184 member countries, including Jamaica, encouraging them to adopt policies that foster economic stability, reduce their vulnerability to economic and financial crises, and raise living standards, and serves as a forum where they can discuss the national, regional, and global consequences of their policies. The IMF also makes financing temporarily available to member countries to help them address balance of payments problems - that is, when they find themselves short of foreign exchange because their payments to other countries exceed their foreign exchange earnings. And finally, it provides technical assistance and training to help countries, like Jamaica, build the expertise and institutions they need for economic stability and growth. Question: Do You Think the IMF Formula is a Prescription for Prosperity or Poverty?  http://digg.com/u1AUmU Photo: The Executive Board of the International Monetary Fund, Washington, D.C. (April 19, 1999)

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BUSINESS PROFILE: Q&A Violet Taylor Name: Violet Taylor Position: Managing Director Company: Phoenix Architectural Woodwork Company [caption id="attachment_297" align="alignright" width="159" caption="Violet Taylor, CEO/President, Phoenix Architecture Company "][/caption] Q. What do you do to relax? A. I love driving out to the country side to view nature in all its glory and splendor. I also enjoy listening to music... Jazz and classical are my favourites. Q. What is your greatest indulgence? A. My collection of music from different composers, collecting miniature liquors and liqueurs from around the world. Q. What is the best purchase you have ever made? A. My Home
Q. What is your favourite piece of technology? A. My Computer, monitoring new technologies in the woodwork industry. Q. What is the best book you've ever read? A. “How To Win Friends and Influence People by Dale Carnegie, and The Power of the Subconscious Mind, By Joseph Murphy PhD. Q. What was your first job? A. My first job was as a book-keeper. Q. Do you remember your first boss? A. Yes, John Ludford. On seeing my potential, he gave me room to grow and supported me in my other business ventures. Q. You ever been sacked? A. No. Q. Who do you most admire? A. Fidel Castro. His implementation of disciple, and how he educated his people. Q. What is the best piece of advice you've ever been given? A.”Have a dream and work toward accomplish that dream.” This was true for me. I learnt to rise above the ashes. Hence the name of my company is Phoenix. Q. What do you love about your current job? A. Interacting with my customers and seeing their satisfaction. Q. What do you find difficult? A. Confrontation and aggression. Q. What haven't you done that you want to do? A. Spending more time with my friends, taking them on a drive to the country. Q. What has been the proudest moment in your career? A. When I won the contract to manufacture the joinery and furniture for Jamaica’s House of Parliament, Gordon House. END NOTE: Violet Taylor has been in the woodwork manufacturing business for over 20 year.  Phoenix Architecture company operates as a distributor for a number of overseas companies, for the supply of operable partitions such as glass partitions, accordion folding doors and portable walls, to name a few. Ms. Taylor can be contacted at 876-9221042, 922-0192; taylor_violet@yahoo.com

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10 Ways to Motivate Your Team During a Recession [caption id="attachment_263" align="alignnone" width="360" caption="To Motivate Your Staff You Need To Know What Motivates Them!"][/caption] In the midst of layoffs, pay cuts, and tight budgets, your team's morale and loyalty is stretched to its limits, while traditional incentives like bonuses and salary increases are unavailable. Here are some ideas on what can keep your employees loyal and motivated without increasing expenses. Image source: http://www.cartoonstock.com/directory/m/motivating.asp

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Submissions The Blog Enterprise!  Promoting You, Promoting Your Business! The Blog Enterprise (http://whytehallcommunications.wordpress.com) is an online publication that publishes the latest Jamaican small business news, information, profiles, and industry trends. It is published every Monday by multi-award-winning Caribbean journalist, copywriter and blogger, Delroy A. Whyte-Hall, Publisher/Editor-in-Chief. You are invited to send your submissions (notices, news releases, profiles, or any other small business related information) to: enterpriseblog@aol.com. Deadline for submission: Fridays.

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2 thoughts on “The Blog Enterprise: #8

  1. Very interesting article! Small businesses are vital to a country’s economy. Entrepreneurship involves a vision and belief of success before it has even happened. The same applies for sports.

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