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.

If you aren’t necessarily part of the tech industry, the name Stephen Spence may not ring familiar but this innovative, game-changing entrepreneur has led a transformative mobile marketing business that transformed the way local and regional companies communicate with customers…forever. He is the founder and Chief Executive Officer of SMS Communications limited, a Jamaican company that was started in 2007 and has successfully grown to service over two hundred and fifty clients across the Caribbean. With that reach, chances are you’ve utilized Mcommerce services offered by Stephen’s SMSC limited. How has he been able to sustain and build on his vision since 2007? Today we talk about Stephen’s accomplishments and so much more…right here on the Entrepreneurial You.

NFTs

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, 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’s 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.

Being an exceptional leader means more than having the ability to deliver results, it’s also about the capacity to empower from the inside out. Christopher Reckord is one such businessman who leads with heart and expertise. Chris, chief executive officer and board member for tTech Limited, a leading IT support organization, has over 30 years of experience in the fields of information and communications technology and entrepreneurship. He is pioneering technical solutions to business operations and is leaving a life-long legacy, as a life-long learner on his career journey. Christopher Reckord……on The Entrepreneurial You.

Fierce, forward-thinking and certainly not afraid to take on a challenge. Nyanna Williams boldly leads a brand that bears a strong influence on its industry and a strong connection to her purpose. She’s travelled across geographical and professional borders to find her true calling as Chief Executive Officer of Lifespan Spring Water Co; a business that is globally recognized for its award-winning quality standards and its local contributions to nation-building. The Portland-born powerhouse business influencer has found her niche and is on a mission to pour back into her town and country, the investment and resources she has received. It’s Nayanna Williams on…The Entrepreneurial You.

Cryptocurrency…what is it?

The cryptocurrency industry has grown exponentially over the last decade. More and more people are becoming interested in the mysterious digital currency industry that carries more than fourteen thousand different cryptocurrencies traded publicly, at a value of almost 3 trillion as of November 2021; this is according to market research website coinmarketcap.com.

With all this focused attention being paid to Cryptocurrency, here are some factoids you might find valuable.

A cryptocurrency is a form of payment that can be exchanged online for goods and services. The currencies use blockchain technology that manages and records transactions across computers. “Crypto” refers to the various encryption algorithms and cryptographic techniques that safeguard these transactions.

One of the things that make this market so interesting, is that there is no central authority to issue the currencies, they are theoretically immune to government meddling but are susceptible to taxation in some regions. Perhaps that’s part of the reason cryptocurrency is not supported by all countries, with some like Nigeria, going as far as putting a ban on crypto exchanges.

Now let’s take a closer look at the world’s largest cryptocurrency by market capitalization…Bitcoin. Launched in 2009, by an anonymous creator, Bitcoin has been described as fulfilling the need for an “electronic payment system based on cryptographic proof instead of trust”. Bitcoin transactions are stored on a public ledger containing information secured by blockchain, which should make it difficult to tamper with. This seems to be the biggest pull for investors because, since its public launch, one Bitcoin now sells for more than $62,000. Usd. And for those who may be wondering, yes bitcoin can be converted to cash.

Her influence spans many phases of media development in Jamaica. From being credited with helping to transform the Jamaica Broadcasting Corporation (JBC) into what is now the number one free-to-air station; Television Jamaica (TVJ), to her pioneering work in video, live streaming solutions. This Fulbright scholar and media specialist have comfortably claimed competence and authority as a lecturer of media management and author of media research-based books. From working as a registered general nurse to becoming co-founder and executive chairman of Phase 3 Productions, She is Dr Marcia Forbes……on The Entrepreneurial You.

The Future of Space Tourism

Richard Branson, Jeff Bezos, Elon Musk…what do they all have in common? You guessed it…they are all in the race to space. A new era of space tourism has ensued. We’ve moved from the simple study of the outer world to Neil Armstrong’s walk on the moon, and now folks are lining up to book a spot on a shuttle off the planet. The high price of all this, just for a few minutes of floating. But what has renewed this space craze tourism venture and why are the richest people in the world competing to set up shop outside of earth? Let’s delve in.

Space shuttle flights have been a thing from the early 1980s but somehow has made a strong comeback as the talk of the town with the likes of brands such as Virgin, SpaceX, Blue Origin, and Boeing CST-100 Starliner launching rockets recently. We suspect the revival has a lot to do with newly found bragging rights that can be had and revenue potential, especially now that tech advancements have made it easier and more affordable to launch off…the affordable part can be argued of course. Analysts estimate that by 2040, the global space industry will grow from about 400 billion to more than a trillion dollars. If it’s true that a seat on the shuttle will go for anywhere between two hundred to three hundred and fifty thousand USD, then those estimates don’t seem so hard to believe.

In fact, A floating space hotel is set to launch in 2021 with a projected cost of 2.3 billion dollars. Hotel mogul Robert Bigelow has plans to sell slots to government officials looking to do research as well as holiday slots to those who can afford it. By it, we mean booking cost in the low seven/eight-figures.

The future of travelling is space tourism…where do you see yourself in the future?

A zac of many trades; Zachary Harding has crafted a diversified career profile that has taken him from the dancehall to the boardroom and into the Forbes Business Council…and he’s just getting started. Dubbed a marketing guru, Harding has a track record of excellence in senior management and strategic marketing roles with prominent brands such as the Jamaica Tourist Board, ATL, Red Stripe, JAMPRO, the Urban Development Corporation, Caribbean Airlines, the Port Authority of Jamaica, Jamaica Manufacturers’ Association just to name a few.

He is currently the Executive Chair of Delta Capital Partners and Group Chief Executive Officer of Stocks and Securities Limited.

He’s the CEO with a deep-rooted passion for the cultural and creative arts…on The Entrepreneurial You.
Trending Now
Has video conferencing shaped the future of communication? The studies indicate a resounding yes and Zoom Video Communications, Inc has come out of the shadows to lead the technological pack. When the COVID-19 pandemic hit, more and more companies were forced to rely on video conferencing tools to maintain business. An unprecedented 2020 gave rise to video conferencing systems, and Zoom was perfectly positioned to grow in demand. The accessibility and ease of deployment have made it one of the leading virtual meeting software. 

Let’s put things into perspective…here are some key statistics on the rapid growth of the video conferencing company, Zoom. 

In 2020, Zoom generated $2.6 billion in revenue, a 317 per cent increase year-on-year. It was also one of the fastest-growing apps of the pandemic, with meeting participants increasing by 2900 per cent. 

And we’re not done…It has almost five hundred thousand business customers as of March 2021. Its valuation exceeded $100 billion during the pandemic and the number of annual meeting minutes on Zoom is now over 3.3 trillion. Not bad for a company launched in 2013, less than 10 years ago. 

Zoom’s uptake in use has had one of the most rapid business growths of 2020 and research projects that the video conferencing industry will be worth US$20 billion by 2024 so there is more than enough opportunity for game-changing expansions of companies such as zoom.

A new age of communication methods is unfolding; boosting efficiency and productivity. For one, thanks to innovations like those, you don’t have to be tech-savvy to be able to operate the latest technology. 

It’s safe to say this trend is here to stay, constantly being developed with added enhanced, next-generation features and this boom is sure to last beyond COVID-19. 
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Heneka