Wednesday 15 July, 2020

Look for economic opportunities amid COVID-19, says entrepreneur

Tracey-Ann Gutzmore Rhoden, managing director of Gutzmore Concepts.

Tracey-Ann Gutzmore Rhoden, managing director of Gutzmore Concepts.

While there has been some economic fallout as a result of COVID-19 for some small businesses; the pandemic is also offering other economic opportunities to some companies, reckons one entrepreneur, Tracey-Ann Gutzmore Rhoden.

The managing director of Gutzmore Concepts said that persons simply need to have a good business idea and start to promote it. She underscored that once it is a good product, some persons will gravitate towards it and the business will take off.

“Nothing is too big for you to realise. Do not think about your background, because I’m testimony to that, I’m not coming from the background of money, family name or wealth. Therefore, once you have an idea, you need to believe in it, push it, let it out into the universe and it will grow,” said the entrepreneur of more than a decade.

Rhoden informed that financial institutions, such as JN Small Business Loans and other financial entities, were making funding available to assist persons to boost their businesses.

She delivered that advice during her guest appearance on the JN Circle Thrive Together Life Class, a seven-part online series, which seeks to empower JN members and customers to thrive through COVID-19, by improving their relationships and focusing on issues related to resilience, parenting, marriage, relationships and self-care.

She also pointed out there will be challenges, especially when starting a new business; however, entrepreneurs should not be deterred.

“You are going to hear the no’s, but all you need is one yes. Therefore, you can hear a million no’s, but when you hear that one yes, you will feel vindicated for all the trials which you have been through, to get to that point and you should simply keep doing it,” she advised.

Turning to existing entrepreneurs, who may be facing challenges, as a result of the Coronavirus pandemic, she advised that diversifying their business into other areas, where there is a demand, is also another option to explore.

The managing director also revealed that the core services of her business, which is promotional products, has been negatively impacted by the pandemic, as many of her clients were cutting back.

However, other opportunities have emerged such as the need for personal protective equipment. She has taken advantage of them, to keep her business afloat by selling face masks, face shields and non-contact thermometers. 

“Therefore, you can take it (the pandemic) sitting down, or you can be proactive. For example, if you have a cook shop and nothing is going on for it, go online and offer a delivery service. There are persons out there who cannot cook, who really need a meal, but are not willing to risk their lives. Hence, if you offer a delivery service, they may be willing to purchase from you,” she advised.

The next JN Circle Thrive Together Life Class session will be held on Wednesday, June 3 at 6.30 pm. The theme of that session will be: ‘Quarantined Abroad: Coping when you are away from family and loved ones.’

Persons can join the session by registering at\thrive. In addition, the session will be streamed live, on the JN Group Facebook page.


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