Christian reveals business secret
Persons desiring to pursue entrepreneurship endeavours must be willing to take risks and should have a strategy for growth. That was the advice from Glen Christian, CEO and chairman of Cari-Med Limited and Kirk Distributors Limited.
Christian, who was recently inducted into the select club of outstanding business leaders at this year's Private Sector Organisation of Jamaica's Hall of Fame, said persons must remain focused in order to be successful in business.
"Many people go into business with a 'hope seh' and 'what if' attitude. However, these casual dependencies do not go very well with productivity. You must be strategic," he declared.
The businessman was speaking to several youth who turned out for the Young Entrepreneurship Association of Jamaica's gala and awards ceremony at The Jamaica Pegasus hotel on Saturday.
"Business is difficult. If it were easy, everyone would be successful. Many persons become overshadowed with the prospect of being their own boss and signing their own cheque, but the truth is, if you want to make a million dollars, you must be able to solve a million-dollar question." he said.
Christian also warned young entrepreneurs not to be easily enticed by money.
"Love business, love people, not money. If you go into business just for money, you are not going to invest your profits into the business, neither training people, which are integral ingredients for any sector to grow," Christian said.
"Do not confuse cash flow with profit. You could be profitable on paper but unable to pay your bills, and if that happens repeatedly, you are bound to become bankrupt. Therefore, it is smart business practice to pay attention to cash flow," he told the audience.
He added, "I, especially, want to implore young entrepreneurs, do not take money out of the business to pursue a certain lifestyle. Ensure that you pay your loans and invest in educating yourself. The road to success is paved with failures, and so you must be willing to take risks."
State Minister in the Ministry of Industry, Investment and Commerce Sharon Ffolkes-Abrahams echoed similar sentiments, urging persons to go after their purpose.
"I must say that we have noticed that there is an entrepreneurship spirit that has been unleashed among us and this will take Jamaica to the next level," she declared.
"We should not only be creative but we must find ways to make these resources be profitable. You must know your purpose and work to accomplish what you were placed in," the she told the gathering.
"There is an idea that you have that has the potential to change your life, change Jamaica and take us to the next level, and I am expecting that we will be seeing new leaders from this group who are willing take the risk to change the world," she said.