— young entrepreneur urges

By Gabriella Chapman

A country’s economy thrives on businesses, be it on a small or large scale. The more entrepreneurs a country has, and the more income streams created by an individual or family, the better it is not just for the individual/family, but for the country in which they reside.

Given the aforementioned, tied with the fact that most people are confined to their homes, Guyanese entrepreneur, Tamika Henry-Fraser, advises that this time can be used to develop more income streams. In fact, financial wellness lowers a person’s stress level significantly.
But in the same breath, she said that one should not feel pressured or distraught if they do not create a new source of income.

In an interview with Guyana Chronicle, Henry-Fraser said, “I think this time can be very beneficial if used wisely. I appreciate the global push to innovate and learn new skills during this time. But I also believe that there is value in using this time to pause, assess what’s most important to you and whether or not you are happy with your choices. It is important to understand that not everyone is going to rise from this having learnt to play the violin or becoming a Michelin Star chef – and that’s okay. No one should feel pressured into or guilty about not embracing a new skill because dealing with the anxiety of what’s happening in the world and what could happen to our loved ones is enough pressure by itself. Self-care, community support and making it through each day with peace of mind are most important to me. That being said, it doesn’t hurt to use this time to either discover a new passion or hone one that you already have, at your own pace.”

OPPORTUNITY
Notwithstanding the aforementioned, she said if one does choose to innovate during this time, the benefits would be extraordinary.

“This is an opportunity to be creative with how we serve our respective markets, to satisfy and create new needs, and to extend the reach of our brands beyond their typical audience. These initiatives, in turn, will translate into higher income and more spending power. For example, can your services be digitized? Can your products be sold online? Do you have a hidden talent for entertainment that persons would pay to experience? Only one way to find out,” the young woman said.

But this process of changing mindset to allow for personal and financial development starts with prayer and gratefulness, Henry-Fraser said.

“Personally, I have found gratefulness to be useful; starting each day by taking stock of what you do have – whether that be life, health, family, an income of some sort, a supportive community, nice hair, whatever it is – there must be something to be grateful for. Then, adopt a hustle mindset. Similarly, we each have something that we are good at doing, making, cooking, selling or even saying that can be used to generate income. We need to be willing to take risks, possibly be embarrassed in the process, but also, very likely be successful. I don’t think ‘survival of the fittest’ has ever applied more during my lifetime. It is also imperative to keep yourself, your family and your community safe by following the Covid-19 guidelines. It doesn’t make you cool to resist wearing a mask or still gather socially or pedal conspiracy theories. It makes you irresponsible and quite literally putting the lives and livelihoods of everyone else at stake. There is pride and comfort in knowing that you are doing your bit to decrease the scourge of this pandemic,” she enlightened.

DIVERSIFYING TALENT
Sharing bits on her success as a young entrepreneur, she said, “I believe that wealth comes from diversifying one’s talents and sources of income; so I’ve had a ‘side hustle’ for most of my adult years. These included tutoring, proofreading, working in the media, doing hair, event planning and even farming chickens. But I truly found my entrepreneurship stride with the birth of Curl Fete in 2016.”

This has birthed several developmental changes in her life.
“I am overcoming self-doubt to continually harness confidence in my ideas and who I am as a person. My personal growth has included patience, resilience, open mindedness, wisdom and creativity. I am humbled by the support of my Guyanese people, while at the same time becoming less cynical about the local business community. In fact, I’ve had to embrace the ideas of trust and collaboration more, and even find the silver lining in criticisms. I have become more hopeful and inspired by the efforts of other young Guyanese entrepreneurs. Surprisingly, entrepreneurship has also helped me to improve my emotional intelligence and build stronger relationships. That is, I am better able to embrace my sources of genuine support and encouragement, while at the same time recognise connections that exist solely for business-related purposes and entirely eliminate outlets that were draining my energy,” Henry-Fraser said.

With that, she encouraged that anyone can find their niche and develop it into a source of income. In addition, persons can identify what is lacking at the moment and capitalise on it. “It’s always a good idea to start with research, particularly into services that can replace basic domestic services that persons typically do for themselves but now cannot do, due to the stay-home directives,” she posited.