On Wednesday July 1, JMMB Group held the fourth in their series of educational forums designed to teach money management skills. This is accompanied by their ongoing JMMB Goal Getter Challenge. Dubbed the “Living Your Dream” forum held at the Montego Bay Convention Centre, this installment empowered attendees to increase their income streams and look at ways of becoming their own boss and featured several entrepreneurs in various fields.
Guest Speaker Yaneek Page, an Entrepreneur, Business Coach, Trainer and Producer of TVJ’s “Innovators” headed the discussions on the day inviting panelists and business owners Carla Hollingsworth of CALA Stylz, Patria-Kaye Aarons of Caribbean Sweetie and Stephen-Chad Haughton, Co-Founder of Antidote Entertainment and Elite Concepts and Solutions, to the conversation.
Page opened up the floor with a few golden nuggets offered to those who were living only to pay bills: stating, “doing what you love is the cornerstone of abundance in your life and this is why when I teach people about entrepreneurship I ask them first of all, are you doing what you love?”
She went on to describe three things needed to succeed as an entrepreneur. “You don’t have to have a lot of money; you just need passion, opportunity and execution.” Discussing that an entrepreneur should enjoy their business, the product or service offered should also satisfy a need, almost every business starts from solving a problem and identify a viable target market for that solution. She pointed out that the market is global and there are business start-up opportunities overseas and online.
Attendees were presented with creative ways to market a business without spending a lot. These included utilizing family and friend networks, using technology and social media as ways of getting the word out to potential customer. Starting a business will be a lot of work, Yaneek Page advises business owners to; “start small, get proof of concept first and everything else will fall into place” she stated to the benefit of the JMMB Clients, Goal Getters and other guests in attendance.
The panelists also shared their experiences led by Michelle Sinclair-Doyley, Client Financial Education Manager at JMMB. Each entrepreneur’s experience reinforced Page’s point as the ideas came out of a personal need. They ranged from providing stylish swimwear for curvy women, manufacturing candy with Jamaican fruit flavours and having a production and events solution company based in Montego Bay. Presenters encouraged participants to move beyond fear and let drive and passion for their business take them to success. Carla Hollingsworth shared her strategy to cope, “I’m still fearful because I have lots of investment and lots of expenses but the need is here in Jamaica and that drives me”.
Financing a business may elicit fear for many persons who wish to transition from traditional 9-5 jobs. The panelists demonstrated that persistence and versatility helps to secure funds from non-traditional sources, such as the salary from their 9-5, investment from friends and family and teaming up with business partners.
Michelle Sinclair-Doyley, addressed many of these issues and outlined ways JMMB helps entrepreneurs to live their dreams. “We have a variety of loan options for which clients can take out loans using their assets as security,” explained Sinclair-Doyley. She further advised that through debt consolidation, JMMB can turn high loan payments from various institutions into one low monthly figure that is more manageable, allowing clients to now concentrate on business. JMMB offers various deposit programs which allow clients to save toward their goals, while their savings portfolios earn above-market rates, beating inflation and depreciation.