{"id":265601,"date":"2019-06-24T10:55:38","date_gmt":"2019-06-24T14:55:38","guid":{"rendered":"https:\/\/content.carib-export.com\/how-we-made-it-caribbean-business-women-share-their-secrets-to-scaling-up-and-being-global-leaders\/"},"modified":"2022-06-13T00:16:39","modified_gmt":"2022-06-13T04:16:39","slug":"how-we-made-it-caribbean-business-women-share-their-secrets-to-scaling-up-and-being-global-leaders","status":"publish","type":"post","link":"https:\/\/content.carib-export.com\/es\/blog\/how-we-made-it-caribbean-business-women-share-their-secrets-to-scaling-up-and-being-global-leaders\/","title":{"rendered":"C\u00d3MO \u00abNOSOTROS\u00bb LO LOGRAMOS: LAS MUJERES DE NEGOCIOS DEL CARIBE COMPARTEN SUS SECRETOS PARA CRECER Y SER L\u00cdDERES GLOBALES"},"content":{"rendered":"
<\/div>\n

The\nbest business advice often comes from those whose success was built from the\nground up!<\/p>\n\n\n\n

With\nthis in mind, the Caribbean Development Export Agency (Caribbean Export) as\npart of their WE-Xport\nprogramme<\/a> arranged for two successful Caribbean women who built their\nbusinesses from the ground up, to share their journey with the nineteen female\nentrepreneurs that are participating in the WE-Xport programme and invited\nguests during a Fireside Chat held recently at the Hilton Barbados Resort.   <\/p>\n\n\n\n

These female\nbusiness owners all completed the WE-Xport programme, a one-year initiative\ngeared at helping them to start exporting their products or to increase their\nexports and is just one of the programmes implemented by Caribbean Export<\/a> in cooperation with\nthe European Union. <\/p>\n\n\n\n

The\nguest speakers were Keisha Smith-Jeremie, CEO of Taste Sanaia<\/a>, an apple sauce brand which\nstarted in her kitchen but is now available via Amazon, Whole Foods Market and\nWalmart, and Christine Souffrant Ntim, award winning Forbes 30 Under 30 serial\nentrepreneur and the Co-Founder of the Global Start-Up Ecosystem<\/a>.  They both spoke candidly about their business\nexperience and addressed issues like scaling for growth, capitalizing on\ndigital exports, and the importance of learning the basics.<\/p>\n\n\n\n

Keisha,\na Bahamian now living in the United States, recalled that when she began her\napple sauce business she would wake up at 3 o\u00e2\u20ac\u2122 clock in the morning to start\npreparation. She packaged the finished product, then waited for the UPS truck\nto collect the day\u00e2\u20ac\u2122s produce before heading to her fulltime job as the global\nhead of Human Resources of a huge corporation. <\/p>\n\n\n\n

She\ndid this for a number of months before realizing that it was impossible to grow\nher business this way.  Keisha was forced\nto scale up and acquire capital! <\/p>\n\n\n\n

\u00e2\u20ac\u0153I\nknew that was not sustainable. Having a day job really pushed me into scaling\nand delegation. It just wasn\u00e2\u20ac\u2122t an option to continue in that way\u00e2\u20ac\u00a6. It forced me\nto think about delegation very early in the process,\u00e2\u20ac\u009d she said.<\/p>\n\n\n\n

The CEO of Taste Sanaia told the entrepreneurs that if their aspirations were to scale, they had to get comfortable relinquishing control of some aspects of their businesses. <\/p>\n\n\n\n

\u00e2\u20ac\u0153You\nhave to essentially figure out for yourself as an entrepreneur what is your\nbest and highest purpose in your company. Often, we think it is in the creation\nof the product, but usually those things are commodities. Someone else can\ncreate the product, they can create it faster and cheaper,\u00e2\u20ac\u009d she explained.<\/p>\n\n\n\n

She suggested that it was a\ngood idea to work with a co-packing partner, that is, an entity or person, who\ncould produce volumes at scale and had already worked out all the kinks.<\/p>\n\n\n\n

Admitting\nthat it was difficult initially to relinquish control, she however pointed out\nthat finding a co-packer enabled her to go to Amazon and Whole Foods\nMarket.  \u00e2\u20ac\u0153You can\u00e2\u20ac\u2122t do that if you are\nstill the person producing it,\u00e2\u20ac\u009d advised the entrepreneur whose apple sauce will\nbe in 800 Walmart stores this summer.<\/p>\n\n\n\n

\u00e2\u20ac\u0153Certainly, with food\nproduction, whatever the unique aspect of your product is, you want to stay\nclose to that. It is a limiting factor unless you are able to trust that other\npeople can replicate your product and eventually it can be done by machinery,\nif you really want to grow at scale,\u00e2\u20ac\u009d she said.<\/p>\n\n\n\n

During the course of her\nexpansion, Keisha pitched her business on the reality investment show, Shark\nTank. She landed an offer of $150,000 for a 20 per cent stake in her company by\ninvestor Mark Cuban.  However, after\nfleshing out the details of the proposed deal, she opted not to sign off on\nthat deal but to retain Mr. Cuban as a consultant.  She then went on to raise half million\ndollars on her own to fund the Taste Sanaia enterprise. <\/p>\n\n\n\n

\u00e2\u20ac\u0153I later decided not to accept\nthe money\u00e2\u20ac\u00a6 in the beginning it is so hard to say no, but what I really had to\nget clear with myself on was did I really believe the business was going to be\nas big as I projected it to be?  If it\nwas, I wouldn\u00e2\u20ac\u2122t want to give up 20 per cent of the company for $150,000.  You have to believe in yourself and your\nability to create something even bigger \u00e2\u20ac\u00a6,\u00e2\u20ac\u009d she said of her decision to retain\nfull ownership of her company.<\/p>\n\n\n\n

Keisha also cautioned the\nentrepreneurs that it was impossible for a business to grow without finance. <\/p>\n\n\n\n

\u00e2\u20ac\u0153Growing\nup in the Caribbean, there is a mindset to avoid debt\u00e2\u20ac\u00a6, but as an entrepreneur\nyou have to get comfortable with the fact that your business can\u00e2\u20ac\u2122t accelerate\nunless you have the capital.  My business\nwas self-funded most of the time but when I started getting yes from Whole\nFoods, Walmart and other places, I realized that I would be holding my business\nback if I only allowed it to grow at the rate that my savings would allow and\nthat would not have been the right thing for the business,\u00e2\u20ac\u009d she affirmed. <\/p>\n\n\n\n

And on the note of not holding back, the WE-Xport\nladies were also introduced to another goal-getting female entrepreneur during\nthe Fireside Chat. Young, dynamic and disrupting the American and global tech\nindustry is Christine Souffrant-Ntim, Co-Founder\nof the Global Start-Up Ecosystem and founder of the Haiti Tech Summit.   <\/p>\n\n\n\n

Hailing from a long line of Haitian female street\nvendors, she was the first of her family to be born in the United States. She\ncreated an online platform called Vendedy to help street vendors sell their\nproducts to global consumers via SMS. <\/p>\n\n\n\n

Earning 20 per cent commission\non each sale, her concept to digitalize street vending accelerated so quickly\nthat she made the Forbes 30 Under 30 List. <\/p>\n\n\n\n

According to Christine, \u00e2\u20ac\u0153At\nthat time, when it came to Caribbean, African and emerging markets, our\nproblems were not relatable to the US market. \nWe try so hard to fit the mold of\nwestern markets that we sometimes lose focus of what really matters. I realized\nthat if I had to succeed with the business, I had to think creatively with\nfunding and repositioning this product and the value of the people it\nrepresents.\u00e2\u20ac\u009d<\/p>\n\n\n\n

Since\nits launch, Vendedy has evolved to become an online directory for street\nmarkets worldwide. \u00e2\u20ac\u0153Don\u00e2\u20ac\u2122t be married to your business model, sometimes your\nbusiness hits the fan when you reach your first customer, so trust what the\nmarket friction is telling you,\u00e2\u20ac\u009d she said of her company\u00e2\u20ac\u2122s evolution.<\/p>\n\n\n\n

The\ntechnology whiz stressed that the story behind the brand was also critical.\n\u00e2\u20ac\u0153There are thousands of businesses selling the same thing you are selling. The\nmost powerful thing you have as an entrepreneur is not your product, but your\nstories, your journeys.\u00e2\u20ac\u009d  <\/p>\n\n\n\n

In\naddition to the story, she pointed out one\u00e2\u20ac\u2122s ability to learn was also\nessential, particularly as it related to the technological aspects of the\nbusiness.  A self-taught coder, Christine\nrealized she could share her knowledge and monetize this \u00e2\u20ac\u0153service\u00e2\u20ac\u009d through a\nwebsite she coded called CaribbeanStartUp.\n<\/p>\n\n\n\n

There\nshe offered to teach persons how to leverage technology and develop their\nbrand. Within 24 hours of the launch, 500 individuals and companies from around\nthe world had signed up! <\/p>\n\n\n\n

\u00e2\u20ac\u0153You\nneed to be able to export your talents digitally to the world.  We live in a digital age;\nexport is not just physical it is also digital. \nSome people forget that you can teach your knowledge, share your\nbackground and your story and monetize that. \nSo for example, if you have the fashion expertise to build bags, you can\nactually start a tuition series to teach people these skills from a St. Lucian\nperspective,\u00e2\u20ac\u009d Christine recommended.<\/p>\n\n\n\n

Insisting\nthat the entrepreneurs must leverage technology to advance their businesses,\nshe stressed, \u00e2\u20ac\u0153It\u00e2\u20ac\u2122s not about being a tech company, it\u00e2\u20ac\u2122s about being tech\nenabled.\u00e2\u20ac\u009d  According to the serial\nentrepreneur, being \u00e2\u20ac\u0153tech enabled\u00e2\u20ac\u009d meant having a website, an accessible email\nand being visible on all social media platforms. <\/p>\n\n\n\n

\u00e2\u20ac\u0153Culturally\nspeaking, we just give our phone numbers but phone numbers are not accessible twenty-four\nseven.  With email, you can have two way\nengagements anytime,\u00e2\u20ac\u009d she pointed out. <\/p>\n\n\n\n

Urging\nthe regional entrepreneurs to learn the basics of all aspects of their\nbusiness, especially when it came to technology, she said: \u00e2\u20ac\u0153Learn online, learn\non YouTube, learn on Google Academy and the final thing I will say is leverage\nor learn first from people that understand your problems.\u00e2\u20ac\u009d<\/p>\n\n\n\n

Christine recalled that initially she didn\u00e2\u20ac\u2122t understand the premise of export but insisted that the small population size of the individual islands meant that Caribbean female entrepreneurs \u00e2\u20ac\u0153needed to automatically think from an international mindset.\u00e2\u20ac\u009d<\/p>\n\n\n\n

She also recommended they export regionally and supported Minister in the Ministry of Foreign Trade, Sandra Husbands who urged the ladies to explore the Guyanese, Panamanian and Surinamese markets. <\/p>\n\n\n\n

\u00e2\u20ac\u0153I just want the paradigm shift to adjust; I just want people to understand that the next wave of products, the next wave of stores, and that the next wave of innovation is going to happen in emerging markets,\u00e2\u20ac\u009d she advised. (S.P.\/Caribbean Export)<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The best business advice often comes from those whose success was built from the ground up! 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