With Rosh Khan
GUYANA is on the verge of major economic transformation. Almost daily, there is an announcement for a new initiative or investment in Guyana. To meet those growing needs, businesses are forming, expanding, and building capabilities. It is, therefore, critical that our engine of growth, the small and medium-sized enterprises (SMEs), are aided in preparing for Guyana’s future. This month’s column will focus on four simple but critical tips for Guyana’s small and medium-sized enterprises.

SOLVE A PROBLEM & FILL A NEED
Businesses solve problems, period. To start a business merely for the sake of starting a business would be a mistake. Yes, entrepreneurs have taken this route and have been successful in the past, but this is more the exception than the rule. Take the time to think strategically about the ‘problems’ that exist now and the ‘problems’ that will exist in the future. In other words, think about the gaps in the market. Then, ask yourself: “How can I position my business accordingly to fill the need?”
With the looming oil & gas sector, many businesses are tempted to pivot entirely to this sector. Do not be rash, pause and be strategic, review your strengths and weaknesses objectively, then review the entire supply chain to see where you may best provide your products and services, if it’s a good fit.
A word of caution: If you and all of your competitors are rushing to serve the oil & gas sector, ask yourself: Who’s serving the needs of all the other sectors?

DEVELOP YOUR COMPANY CULTURE
A strong business is never a one-man or one-woman show. It requires a team. As Dr. Maxwell says, “Everything rises and falls on leadership.”
So, developing a strong company culture, which is people-centric, goal-oriented and future-focussed starts with you, the leader.
To build company culture, ask yourself and your team questions such as:
• Why does our company exist?
• Why do we do what we do?
• What does our company believe in?
• What are our values?
• Where do we want our company to go, i.e. what’s our company’s vision?
The more clarity you have, the more you can articulate that with your team. If you’ve never shared your vision with the team, perhaps it’s time to include your team in the process. When your team feels more connected to your company, they’ll hang in there when it gets tough. Engagement creates commitment.

IMPLEMENT THE RIGHT SYSTEMS
Simply put, a system is a series of processes that dictate how one part of your company operates. Once implemented, a system requires little thought and minimal effort to maintain.
It doesn’t matter how little or how many team members you have. If you want to grow as a company, you need to have systems. With effective business systems, it will enable you to produce the same products and services with the same level of consistency.
Think about good experiences you’ve had with fast food outlets. The stronger the systems, the better the experience, speed and convenience.
Fast food aside, there are no limits for creating systems. They can be created and implemented for sales, marketing operations, employee training, or any other part of your business.
The key is to remember that the people who benefit the most from having systems in place are your customers who know what to expect from your business. Great systems lead to happy customers which lead to repeat business and referrals.

NETWORK & BUILD STRATEGIC PARTNERSHIPS
With COVID-19 disrupting how we interact and engage, it is still critical that we take the time to network and build strategic partnerships. Networking is key to establishing and nurturing long-term, mutually beneficial relationships with the people you meet. When done effectively, it’s a win-win for all involved.
Physical events will make a comeback in the not too distant future, but, for now, you can leverage online platforms like LinkedIn, Facebook, and Whatsapp Groups.
There are several business support organisations that you may want to join, such as the Georgetown Chamber of Commerce and Industry, Private Sector Commission, American Chamber of Commerce, Guyana Manufacturing & Services Association, and Tourism & Hospitality Association of Guyana.
By joining these organisations, you benefit from their platforms where you can share and receive knowledge, stay up-to-date with industry-related news, and leverage opportunities for partnerships. Additionally, once you engage, you will find that you’re able to build relationships which can lead to future customers and partners.
As Sir Richard Branson said, “Succeeding in business is all about making connections.”
In our next column, we will dig deeper into the intricacies of understanding your finances, getting compliant with the relevant organisations, and exploring more opportunities with a unique framework.

-Dr. Rosh Khan is a Consultant Coach and Business Growth Specialist. He is the President of the Masterclass Institute (FranklinCovey Guyana) and Managing Director of SocialRank Media – Guyana’s leading digital marketing agency. He can be reached on 592-664-5848.