Barbados needs to respect Entrepreneurs who try: Marine pilot turned Wall Street expert advises Cave Hill’s School of Business

Barbadians are too quick to judge entrepreneurs whose businesses don’t succeed immediately, this bracing assessment from Chuck Mills III a former Marine One Pilot now Capital Management expert who is in Barbados for his second address to participants at the University of the West Indies thanks to the US Embassy for Barbados & the Eastern Caribbean.

During his address at the Cave Hill School of Business this week, he expressed his belief that training is more important than funding for starting a company since only 30% of organisations worldwide have a success rate after a five year period, the ones which survive – in his view – are the entrepreneurs who make sure they know how to perform all tasks requisite to ensuring the company has all the right breaks to continue.

'From Warrior to Wall Street'  - Charles "Chuck" Mills III with his detailed Power Point presentation

'From Warrior to Wall Street' - Charles "Chuck" Mills III with his detailed Power Point presentation

The one-time director at the erstwhile Bears & Sterns learned quickly that Bajans have a very strict viewpoint when it comes to people who look to create their own wealth – either they do or die. He says in the US the view is more relaxed, as it has advantages for prospective employers and even when a visionary seeks to try again {CLICK ON FOLLOWING LINK FOR AUDIO};-

Mills says if you take an objective assessment and avoid the pitfalls which sunk your first opportunity then makes you stronger when you’re ready to try again.

The American businessman sees an entrepreneur whose enterprises did not work as a boon to the job marketplace {CLICK ON FOLLOWING LINK FOR AUDIO};-

When an employer sees a prospective candidate is applying for a vacancy they see this as an opportunity to bring on a multi-tasker as entrepreneurs usually do many functions to cut costs.

In his address to a wide cross section of Barbados’ business landscape, he sees Passion, Focus and Advertising as main components for a successful project. Many members of the audience saw gaining access to funding as a challenge therefore what can be done to advertise apart from Twitter or Facebook?

Agriculture, Bankers, Real estate - a few of the professions which Mr Mills drew that night at Cave Hill's School of Business

Agriculture, Bankers, Real estate - a few of the professions which Mr Mills drew that night at Cave Hill's School of Business

He sees business cards as a cheap way to push your concern, order as many as you can in one go and then go crazy distributing them and make sure to re-order often since most places can offer cheap yet effective cards{CLICK ON FOLLOWING LINK FOR AUDIO};-

Mills related how he will go so far as to pin one of his cards in a lundermat, even if he has to return the next day and paste up another – in his view the saturation will eventually lead to a client and this in turn creates Word Of Mouth.

When you do get business cards don’t necessarily look at having a fancy name so much as a simple way for people to understand what you do for a living {CLICK ON FOLLOWING LINK FOR AUDIO};-

Mills’ advice is to safeguard the card reader’s interest quickly by listing your organisation’s purpose since a jazzed-up name, while it may sound cool, will lose the potential clients interest if they cannot understand what you offer.

'Chuck' emphasises a point during his concise lecture and deep Q&A

'Chuck' emphasises a point during his concise lecture and deep Q&A

The former pilot for Bill Clinton & George H. W. Bush (Sr.) is of the view that as the world’s employment scene evolves, we have to catch up if we are to maintain the best developed nation in the Caribbean. Which means looking at so -called failures as means of advancement and a varied portfolio not as a job-jumper but a multi-skilled worker – an advantage for any company.

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