Sun | Jul 5, 2020

Growth & Jobs | Look for COVID-19 economic opportunities, says entrepreneur

Published:Tuesday | June 2, 2020 | 12:15 AM

WHILE THERE has been some economic fallout as a result of COVID-19 for some small businesses, entrepreneur Tracey-Ann Gutzmore Rhoden says that the pandemic is also offering other economic opportunities to some companies.

The managing director of Gutzmore Concepts says that persons simply need to have a good business idea and start to promote it. She underscored that once it is a good product, some persons would gravitate towards it and the business would take off.

“Nothing is too big for you to realise. Do not think about your background because I’m testimony to that. I’m not coming from the background of money, family name, or wealth. Therefore, once you have an idea, you need to believe in it, push it, let it out into the universe, and it will grow,” said the entrepreneur of more than a decade.

Gutzmore Rhoden said financial institutions such as JN Small Business Loans and other financial entities were making funding available to assist persons to boost their businesses.

CHALLENGES AHEAD

She delivered that advice during her guest appearance on the JN Circle Thrive Together Life Class, a seven-part online series that seeks to empower JN members and customers to thrive through COVID-19 by improving their relationships and focusing on issues related to resilience, parenting, marriage, relationships, and self-care.

She also pointed out there would be challenges, especially when starting a new business; however, entrepreneurs should not be deterred.

“You are going to hear the nos, but all you need is one yes. Therefore, you can hear a million nos, but when you hear that one yes, you will feel vindicated for all the trials which you have been through to get to that point, and you should simply keep doing it,” she advised.

Turning to existing entrepreneurs who may be facing challenges as a result of the coronavirus pandemic, she advised that diversifying their business into other areas, where there is a demand, is also another option to explore.

The managing director also revealed that the core services of her business, which is promotional products, has been negatively affected by the pandemic as many of her clients were cutting back. However, other opportunities have emerged such as the need for personal protective equipment. She has taken advantage of them to keep her business afloat by selling face masks, face shields, and non-contact thermometers.

“Therefore, you can take it (the pandemic) sitting down, or you can be proactive. For example, if you have a cook shop and nothing is going on for it, go online and offer a delivery service. There are persons out there who cannot cook, who really need a meal, but are not willing to risk their lives. Hence, if you offer a delivery service, they may be willing to purchase from you,” she advised.

The next JN Circle Thrive Together Life Class session will be held on Wednesday, June 3, at 6:30 p.m. The theme of that session will be ‘Quarantined Abroad: Coping When You Are Away from Family and Loved Ones.’

Persons can join the session by registering at www.myjncircle.com\thrive. In addition, the session will be streamed live on the JN Group facebook page.