Did you miss me? As I mentioned during our last episode that aired a few weeks ago, I took all of April off. It turns out that I also took 2 weeks in May because I truly never had to drive to jump right back in the thick of things. But I am over that hump now and here I am. I am so happy to be back with you.

Over the next couple of episodes, we are going to be focused on featuring executives from companies that are listed on the Jamaica Stock Exchange in addition to experts on finance and investing. I believe that as I am in another phase of my life where I am concentrating on building wealth, it is only fair that I take you along for the ride. I do trust that you will enjoy it.

The Entrepreneurial You is supported by henekawatkisporter.com and The Jamaica Stock Exchange (you should check out their podcast as well, proudly hosted and produced by me.)

My guest on episode 264 of The Entrepreneurial You today is Kingsley Cooper.

Kingsley chairs the board of Pulse Investments Ltd. An attorney at law, Cooper is the founder of the company.

A pioneer in the fashion, modelling, lifestyle and entertainment industries in the Caribbean, Cooper has guided Pulse to pre-eminent status in its areas of operation.

His work has been recognized by entities such as Vogue, the BBC and Fashion Television and is regularly seen in many countries of the world. Pulse supermodels have held some of the top spots in world modelling and are highly respected.

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Episode 263 The Entrepreneurial You Podcast
The Quick-Start Guide to Launching Your Fashion Brand (Part 4)

Part 4 of this series looks at Shipping & Distribution + More
You finally have your designs and you’re anxious to get them to market. After all, what good is a product if it is not in the hands of a customer? A very important part of the process is the logistics of how this will happen.

Depending on where you plan on shipping to, ask your production facility if they engage in dropshipping. This is where they store your product and ship to your customers from their location to reduce the time it would take to have them ship the final product to you then you in turn ship to customers (assuming you are dealing with overseas customers).

It is important to get familiar with the International Commercial Terms (Incoterms). This will aid in preventing any undue stress that can accompany the shipping process. Being aware of this is important to making a decision about whether you will ship via sea or air.

You’ve read this far. Great, it means you are still interested in starting your fashion business. Here are some options to consider in getting your product out to customers:

❇️Are you targeting boutiques styled retail outlets?

❇️How about department stores?

❇️Will you sell direct to customers or direct to businesses?

❇️Will it be offline or online or a combination of both?

What about channels such as eBay, Etsy, Facebook, Pinterest, Instagram, Craigslist and Shopify? While this list is not exhaustive, the platforms mentioned are great options to consider as you build your brand.

❇️Will you decide to open your own boutique to offer your unique experience to your market?

Have any questions? You can contact me through email (henekawatkisporter@gmail.com) or find me on Facebook, YouTube Twitter, Instagram, and LinkedIn. Thanks for listening!

For more updates and episodes, visit my website. You may also tune in on Apple Podcasts, Google Podcasts, Stitcher, and Spotify. Some episodes are also available on YouTube.

Part 3 of this series looks at Creating Samples & Production:
After carefully thinking through your idea, doing your market research and business plan, it’s now time to create showroom samples to start seeking out prospective retailers.

If your fashion collection is simple like t-shirts, for example, you may source ready-made blanks from white-label sources and have them embellished with your custom designs.

You may also choose to identify a manufacturer to have them custom made according to your specifications as in the case of Patwa Apparel. I will go into more details about how to identify a supplier/manufacturer later.

If it is more elaborate, consider whether you will be the one designing or whether you will you employ a fashion designer. Can you make your own patterns or will you identify an expert to do this if this is not your area of expertise?

You may consider connecting with a final year fashion design student from your local university to intern with you. Final year fashion design students are usually a great source of help as they need the experience. They will be willing to start at a lower fee than a more experienced designer. This is a win-win.

Will you be the one manufacturing or will you outsource this to a production facility?

Have any questions? You can contact me through email (henekawatkisporter@gmail.com) or find me on Facebook, YouTube Twitter, Instagram, and LinkedIn. Thanks for listening!

For more updates and episodes, visit my website. You may also tune in on Apple Podcasts, Google Podcasts, Stitcher, and Spotify. Some episodes are also available on YouTube.

Part 2 of this series examines “Funding Options” – This is a vital part of developing your fashion business. Some possible sources include:

✅Personal funds
✅Loans from families and friends
✅Bank loan
✅Grants for small businesses
✅Equity Investment
✅Crowdfunding
✅Bartering your service

🟡If you have personal funds available, you may choose to use some of them to get your business off the ground. Decide on the percentage of your funds that is comfortable for you to invest in your business – don’t go all-in with your savings. Make sure you keep something for a rainy day; entrepreneurship by definition is a risk.

🔵Friends and Families can be a great source of getting your fashion business started. They want to see you succeed and most will be happy to be part of your success. Be sure to leverage them to get you going. You may want to discuss interest rates and terms. Think about drafting a simple, one-page agreement if this is a route you’re taking.

🟤Be very cautious about taking out a bank loan at the early stage of your fashion business. You want to ensure that your energy is focused on growing your business instead of worrying about the repayment of a loan that may attract high-interest rates. If you don’t have collateral, this may be a challenge for you in the startup phase. If you do have assets such as your home or car, be very cautious about putting these up to access a loan. You never want to put your home at risk.

🟠Grants are always a good option. Some donor agencies offer 100% grant funding while some require that you have some skin in the game and may go 70-30 for example. In this instance, they will cover 70% of the cost while you cover 30%. While there may be grants who will give you the funding before your project is complete, most are reimbursable, requiring that you cover the costs upfront then they subsequently reimburse you. Where this is the case, you can use the grant approval as collateral to get loans for the portion that the grant covers.

In order to benefit from grants, they are usually some stringent requirements such as business registration, filing of taxes, etc. The benefits are usually quite worth matching the requirements.

🔴The Creative Industry is a billion-dollar one. Many investors may want to get a slice of the pie that can give them a high rate of return on their investment. In return for a stake in your business, consider equity capital from an Angel Investor or Venture Capital firm. Your investor will be in it for the long term. If your business loses money, you don’t have to pay your investor anything. You also get the added benefit of mentorship and guidance from your investor who is likely to have years of entrepreneurial experience.

⚪️Then there is the concept of having several persons invest in your project via crowdfunding in return for small perks. If you have a unique project idea for your fashion business, getting several small donations from those with interests in your project is an option to consider. You can easily set up a campaign on Kickstarter, Go Fund Me, or other such platforms. This takes immense work. Success is possible if you are prepared to invest the time and effort into your plan and execute accordingly.

⚫️As another way of funding your startup, start brainstorming all the skills you currently have. Examine all the persons who may need such skills and identify someone whom you could approach to barter your service in return for well-needed funds.

The fashion industry is unique. It is driven by change and is constantly changing. It changes so much, we find trends revolving and re-surfacing again when we thought they died a natural death. The industry has several different parts making up the whole. The seamstresses, tailors, manufacturers, models, factory workers, forecasters, designers, pattern makers, sketch artists, embroiderers, store owners, etc. Any industry that has so many other components will surely have its fair share of individual prejudices, styles and tastes. It is important to determine and define your sense of style. Individual preferences aside, at all times, the wants, needs and desires of your customers will have to be anticipated. New advancement happens rapidly. Keeping up with trends from fashion forecasters will be necessary to determine colour, styles, accessories, textures, prints, etc. to stand out from the noise. The question of, ‘How do I turn my passion for fashion into a viable business can be daunting. Yet, with the right guidance, it is possible though not easy.

A fashion business can be extremely lucrative. After all, clothing is one of the basic physiological human needs according to Maslow’s Hierarchy of Needs. Amidst the glitz and glamour of the industry though, an entrepreneurial approach must be taken from the get-go in order to achieve any measure of success.

If you are listening to this podcast, you may have some desire to become a fashion entrepreneur, that’s awesome.

I will explore in more depth in coming chapters but here are some initial questions you must be prepared to answer very honestly:

• Do I really want to run a fashion business or is it that the idea of it seems alluring?
• Do I have access to the necessary funding?
• Do I have the skills that are required or am I able to identify partners to help me?
• What is unique about what I’m doing?

Even if your answers to the questions above are ‘no’, fret not! I’ve got you clothed (pun intended). Begin to see yourself running your awesome fashion business. Envision in your mind’s eye, your brand in stores across the world and on some well-known celebrities.

Have any questions? You can contact me through email (henekawatkisporter@gmail.com) or find me on Facebook, Twitter, Instagram, and LinkedIn. Thanks for listening! For more updates and episodes, visit my website. You may also tune in on Apple Podcasts, Google Podcasts, Stitcher, and Spotify.

Non-fungible tokens, widely known as NFTs, are the latest evolution of the cryptocurrency concept. They’ve been around since 2014 but recently gained notoriety. NFTs can be traded or exchanged, one for another as one of a kind digital representations of physical assets. They are essentially digital contracts, with certain rules such as the number of copies available for sale. Much of the current market for NFTs is centred around collectables, such as digital artwork, music, real estate and sports cards, even tweets. So what triggered the latest internet obsession? In early March 2021, a group of NFTs in the form of artwork was sold for over USD 69 million, the sale set a precedent and a record for the most expensive pieces of digital art sold thus far.

NFTs exist on a blockchain which is a distributed public ledger that records transactions. Blockchain technology help artists and content creators, for example, get the opportunity to monetize their wares without relying on a gallery or auction house. Instead, the artist can sell it directly to the consumer. In theory, anybody can tokenize their work to sell an NFT. It is important to note, however, that NFTs are typically held on the Ethereum blockchain so owning and storing some of this cryptocurrency is usually the first step in attaining NFTs. With all the hype surrounding this new craze, the big questions yet to be answered are…are they worth the money, will they change the way we do invest forever or will they fade away? Only time will tell.

My guest on The Entrepreneurial You today is Miguel Adwin. Miguel has a true passion for technology and entrepreneurship which direct his work ethic. With over two decades of experience in technology leadership and product architecture, Miguel is the archetype creator and product builder. His extensive experience ranges from financial systems, e-commerce, homeland security, managing enterprise teams and delivering tested and secure products using big data. Having heavily used cryptography before it was cool, the crypto and defi space provide a healthy environment to merge his entrepreneurial skills with his development and architectural chops.

He’s a man of inspiring principle, determination and composed appearance… John Mahfood is a certified public accountant and an experienced business leader who was introduced to the mechanics of the field from as early as he could remember. Most of his early years were spent cultivating his leadership skills by working in the family business; guided by his dad Adeeb Mahfood.

Before taking over as CEO of Jamaica Teas, John had already developed a track record of high performance and professionalism, with companies such as Grace and Price Waterhouse cooper and HiLo supermarkets. At the helm of JTL, John has been instrumental in the company’s listing on the Jamaica Stock Exchange and expansion to become the largest producer of teas in the Caribbean with almost one-half of its products exported.

His ability to sustain such ambitious business models over the decades no doubt has influenced his selection as president of the Jamaica Manufacturers and exporters Association for the term 2021/2022. We talk business affairs and so much more today on the entrepreneurial you, with John Mahfood.

Short Form Videos
Short-form videos… are ruling supreme among digital marketing strategies and facilitators, advertisers and consumers alike, all want to capitalize on its reign…at least while it’s a hot topic.

Video marketing isn’t that new, it became mainstream around 2010, offering biteable content used to drive sales, create engagement and raise awareness among other things. Shorts on the other hand, in particular those influenced by social media usage, emerged fairly recent, around 2020. Whether they are created to publicize a big business campaign or promote a Do It Yourself home video, the value of shorts is undeniable. In many cases it’s a free app feature that’s easily accessible, it gives people quick and easy ways to consume information and since people tend to share the video at twice the rate of any other media, it’s one of the sure ways to get good returns on investments.

So what are the top short-form video platforms available for free and what are some benefits of using them…asking for a friend you say? Well, we’ve got you and your friend covered. If you’re not leading a large budget marketing activity that requires professional video production, you might want to consider using a few of these…

Tik Tok-the trendsetter of short-form videos on social media. Not only are users enabled by features that allow the use of graphics, music, and imported media, packed in an easy to edit the recording, but also brands have access to a creative space filled with an audience of millions around the world, eager to explore and express creativity like never before…all most brands have to do is start a challenge that is highly likely to create a buzz around a product or service.

Instagram Reel. The Instagram reel was launched in August 2020 as a challenge to tik tok but ascended in popularity when India and the USA banned the use of tik tok in their countries. Which left former users turning to Instagram for a substitution that gave them the opportunity to churn out 15-30 seconds videos, highlighting pretty much anything. Like tik tok, reels on Instagram auto-play one after another and is giving dreamers and celebrities both a massive opportunity to earn from the creative showcase of talent and rotation of music on the platform.

Snapchat spotlight was also created to rival tik tok. It features short videos in a continuous loop that users can use to advertise as well as get monetary incentives for videos with a high number of views. In February 2021 alone, over 124 million Snapchat users watched spotlight videos, so the chances of being seen are quite decent.

So the next time you think about short-form videos, think about taking advantage of any one of these to help widen your audience reach and maximise profits.

Serving her industry with pride, passion and purpose. A business mogul in her own right, Michelle Chong, co-founder of the successful Honey Bun Limited and 2016 Business Suite Businesswoman of the year is one high performing female leader with over 35 years at the helm of a baking company that has not only stood the test of time but continues to ace the test of quality. After so many years in business, how does one reinvent themselves and re-establish their brand to become a transformational force? Michelle joins us to talk about entrepreneurship, politics and philanthropic work.

High buildings, high prices and high demands. The rising interest in property ownership has had buyers and sellers caught in the housing craze with little regard for costs. Jamaica is experiencing a robust real estate market, to say the least, and banks and financial institutions are all here for the profits. Real estate is likely one of the best stable investments one can make on the island, which appreciates over time as a relatively safe financial venture.

Prospective homeowners and banks both recognize the earning power of these types of investments which explains their keen and growing involvement in servicing mortgage loans. But how and why are banks eager to help us secure our dream homes? Let’s take a closer look.

The selling price for a house, apartment or land today is possibly the lowest it will ever be. With that said, the mortgage lender stands to gain as a real estate owner who can re-sell repossessed properties if needs be. This resale is at a higher cost than that covered in initial loan disbursement.

Also, mortgage lenders charge customers fees including application fees and periodic maintenance fees. Some banks may offer a mortgage product package with a flat annual fee, either way…customers are still paying fees outside of repayment of loans. Banks also have the opportunity to promote other financial products throughout the loan process in order to maximize their revenue. These include home renovation loans, refinance loans and so on.

Since mortgages involve borrowing a significant amount of money which is usually repaid over decades, banks often like to sell as many mortgage products as possible which often results in competition between banks for signing up borrowers. Banks also compete for customer deposits, which give them the money to lend to borrowers, so they select their interest rates to ensure they remain competitive in both respects.

Bank-controlled real estate brokerages will most likely become marketing arms for mortgage departments, when this occurs, you can bet that more aggressive, targeted marketing strategies will be applied to solicit more and more borrowers looking to finance the purchase of homes. There are pros and cons of using banks as mortgage lenders, you’ll just have to identify the approach that works best for you.

It’s fair to say that Larren Peart is a data guru who has chartered new boundaries and prospects with data-driven analytics and insights, made accessible in unprecedented ways through his business Blue Dot, full-service market research and strategy consulting company. Founded in 2014, less than 7 years ago, Blue Dot is already making waves, claiming the majority market share for data insights in Jamaica and attracting heavyweight support from the Branson Centre of Entrepreneurship, Yes Iyah and SSL Venture Capital Limited just to name a few. Blue Dot is strategically poised to become a future leading market research entity and today we’ll find out from its founder, exactly what’s helping this business to thrive.

Trending Now: Artificial Intelligence
Most people think of science-fiction and human-like robots when they hear the term Artificial Intelligence (AI). Well, that only obtains in Hollywood. In the real world, Artificial Intelligence refers to a computer system equipped with intellectual processes that allow machines to discover meaning, generalize, learn from experience and adjust to new inputs. Deep learning and natural language processing are key components of the AI set up and these technologies allow computers to be trained to accomplish specific tasks.

The term artificial intelligence was coined in 1956 but the hype around AI has accelerated in recent times, due to increased data volumes, advanced algorithms, and improvements in computing power and storage. More and more industries are growing in demand for AI capabilities including healthcare, retail, manufacturing and banking.

While the definition of AI gets more complex and extensive, we’re gonna try and share some examples of specific uses of Artificial Intelligence applications in everyday processes and hope they give you a better understanding of what we’re working with.

For one, smartphones use AI to provide services that are as personalized as possible. Virtual assistants answering questions, providing recommendations and helping organize daily routines are some examples. Language translation software relies on artificial intelligence to provide and improve translations. In addition, smart thermostats learn from human behaviour, how to save energy and although self-driving vehicles are not yet standard, some cars already use AI-powered safety functions in their mechanics. In the fight against covid-19, AI has been used in thermal imaging in airports and in medicine, it can help recognise infection from computerized tomography lung scans.

By this rate, AI is sure to heavily impact the future development of health, cybersecurity, auto and creativity to name a few. So it’s not a question of when…but how these will be implemented and embedded in our daily activities.