Advice to entrepreneurs

Grenville Phillips, president of Walbrent College
Grenville Phillips, president of Walbrent College

You cannot pay people enough to care.

That assertion was made yesterday by president of Walbrent College Grenville Phillips, a chartered structural engineer.

Speaking at a workshop for entrepreneurs – the second of its kind organised by UPSTART Caribbean – Phillips was critical of the National Initiative for Service Excellence, stating ‘it seems to be trying to force square pegs into round holes’.

If the nurses cared about the patients they would naturally offer an excellent service,” he stressed.

Trying to train people to care is a losing exercise and, for the past 10 years for NISE and the 20 years of the National Productivity Council, it hasn’t really worked. But we keep spending the money. Why not try to find a square hole for the square peg,” he suggested.

Phillips was at the time making a presentation on How to Spot Opportunities.

He earlier noted that the latest NISE survey found that about 70 per cent of Barbadians are working in jobs they’re not fulfilled in.

Another presenter at the workshop held at the Sir Garfield Sobers Gymnasium was Jeremy Stephen, president of the Barbados Economic Society,

President of the Barbados Economic Society Jeremy Stephen addressing participants
President of the Barbados Economic Society Jeremy Stephen addressing participants

who encouraged entrepreneurs to focus on building a credibility for their businesses and go the route of self-financing.

When you’re building up it’s best to bootstrap. If you don’t have the hundreds of thousands of dollars so be it,” he advised.

When making the decision to borrow or buy, I would say don’t borrow. I would say buying is a second resort but I would say you have to build first, which is what most people wouldn’t expect. Build your reputation, build your product. Continue having very strong product development programme. Build your network.”

Approach family and friends, they are the first persons who will invest in you and it doesn’t have to be cash,” he added.

 

 

 

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