Blog

(Adapted from the ‘THINK TOMORROW’ series)

 

It’s time to take advice from Ross.

 

With COVID-19 rooting up displeasures in our lives and causing so many pressures and unpleasantries in our business, it's easy for us to lose sight of our customers and the experiences we worked so hard to create for them before our pandemic friend hit.

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‘Slow and steady wins the race’...maybe,  but nothing can beat being prepared. After having been closed for so long (business-long), businesses must ensure a ‘safety first’ approach to reopening. All such rules and guidelines should be made known to the general public and mainly to a store’s employees, its customers and clientele. Guidelines can be posted on social media, on the company’s website, and at the entrance to stores. 

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We’re right you know! You don’t have to prove anything. 


We all have people in our lives that have helped us, taught us, mentored us. 


It’s a part of what we do as a team here at The Timely Entrepreneur Resource and Research Centre, and yet, we are always saying to new entrepreneurs and seasoned business owners that we truly are not doing more, than offering another perspective or creating and highlighting other possibilities for you and your business.

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China’s problem is everyone’s problem! China is the world’s largest exporter and is responsible for a third of global manufacturing.

To stop a Coronavirus recession, we need to implement Change now!

As we continue to look on at economies just shutting down in light of outbreaks of Covid-19, we can only see and feel the effects of what is happening right in front of us. This is true as we only began to take precaution when the first nearest confirmed cases hit our headlines. Long lines at supermarkets emerged as fear and panic did more than creep into our lives. A lot of companies are gouging customers for products that are in demand. Prices increased globally for essential items that people can’t normally afford on a regular basis, and even more so, the prices of essentials to guard and protect us from the Covid-19 has been unscrupulously altered to match the panic mode now set in. However, that doesn’t seem to stop the lines from stretching at all pharmacies and supermarkets. Customers are now reporting increasing price differences for the N95 masks from as low as $25TT to as high as $700TT. Within the space of three days, one pharmacy on Charlotte Street, Port of Spain, raised the cost of Vitamin Chewable packets from $5 for 10 count to $8 for 10 count and sees no issue in telling ill customers “yeah the price raise”. Store managers are also facing the blunt of this current economic issue as suppliers and wholesalers are refusing to sell them. One manager has accounted this as the reason for the increase in prices for his products. Supply chains are drying up, leaving businesses without products or essential materials. Now this is only the immediate ‘needed’ action for most as a result of fear and panic. But the real pandemic will spread, when we realize that Coronavirus poses a greater threat to the economy than just to health. Wait until we have to recover.

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Indefinitely, financial stress can hinder productivity and is the leading cause of anxiety among entrepreneurs. The inability to make profits and meet financial deadlines as well as secure constant cash flow, weighs heavily on the Entrepreneur’s mind.

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  1. Make Your Dream Come True Day 2020
  2. National Financial Wellness Month 2022
  3. Thrive through Introversion
  4. Don’t Forget To Live in 2020

Cherise Castle-Blugh is the author of The Timely Entrepreneur Series and the Director of Entrepreneur Services at The Timely Entrepreneur®. She has been working to grow the Trinidad and Tobago Entrepreneurial community, creating resources and events to support entrepreneurs.