Business Ideas

[paid_influencer]

the nice thing about Sacha model is they control everything up to the point of sale to the consumer. In doing so, they capture almost all of the final value of the product. Even if they were to shut down the local factory tomorrow, they still have a valuable brand and trademark they can slap on a US-produced cosmetic and make the same or more money.

[Redress10]

the nice thing about Sacha model is they control everything up to the point of sale to the consumer. In doing so, they capture almost all of the final value of the product. Even if they were to shut down the local factory tomorrow, they still have a valuable brand and trademark they can slap on a US-produced cosmetic and make the same or more money.

This guy gets it. Even better if they control the raw materials that they could sell to other cosmetic makers all over the world as well.

[Dohplaydat]

I just want to add Carnival can be a huge industry if we pushed it properly.

1. Music exports - our artists already make a decent amount from YouTube, Itunes, Spotify etc. But think concerts and fetes, lots of USD to earn there.
2. Monday wear and costume designs
3. Party exports - WOW events, Tribe and many others already hosting vig events throughout the Caribbean and US, good forex earners there.
4. Market the sheit out of our local Carnival and enhance the experience, none of this sheit that it finishing at 7pm or disorganized route planning. 40K persons come down for carnival and each spending an average of 2k USD. That's $80M USD. Aim to double that in 3 years.

A Carnival industry can potentially be earnings us $1B USD every year.

I take a simplistic view of things? In a world where countries are exporting artificial intelligence, advanced technology, satellite, advanced robotics and data science etc your solution is that we "export" carnival and events?

Seriously? And your big selling point is the 80m usd that could earn? Not even 800m usd but a paltry figure of 80.
This country imports a billion tt on cereal just on cereal alone.

80m usd is probably what some 1% does make a year. You acting as though that is some significant sum in terms of a country's earnings. Especially for a disruptive activity such as carnival.

Are you actually serious with this suggestion?

Firstly the industries you mention there are great and I think there can be good things coming from it given groups like www.lab.tt

But our population of AI researchers and DS are small, and most of the skilled ones left (brain drain).

And I said at least 80m in USD from visitors for the event itself. There's ALOT more USD coming in because of carnival, probably 3 times that alone, I just quoted an easily calculable figure there.

And $1B USD in forex from something we're currently doing (just need to do better) is nothing to sneeze at.

And I'm not advocating doing only one thing......do you expect the majority of your labor force to participate in Software Engineering and Data Science? Especially even when right now I know most local companies have to outsource complicated jobs to the US or India.

We need to use our labor force wisely.

Instead of having 10k people living lazily in their unsustainable 'safe' government jobs, put them in the private sector and in entrepreneurship and give them incentives to innovate. I guarantee you'll see some brilliance.

[Dohplaydat]

the nice thing about Sacha model is they control everything up to the point of sale to the consumer. In doing so, they capture almost all of the final value of the product. Even if they were to shut down the local factory tomorrow, they still have a valuable brand and trademark they can slap on a US-produced cosmetic and make the same or more money.

Yea I had an ex who worked Sacha, they surprised me in how well that business is managed, very innovative and professional. At one time they were the number one beauty powder product on Amazon, probably selling 1000s a day there easily.

[paid_influencer]

Carnival had a nice little industry growing around it the past couple years. Hotels in POS always booked to capacity. Locals were creating package combos with tours, transport, accommodation, food, all-inclusive tickets, etc, and taking bookings directly online. Legit organic and sustainable growth in that sector before covid come and mash we up.

[paid_influencer]

the nice thing about Sacha model is they control everything up to the point of sale to the consumer. In doing so, they capture almost all of the final value of the product. Even if they were to shut down the local factory tomorrow, they still have a valuable brand and trademark they can slap on a US-produced cosmetic and make the same or more money.

This guy gets it. Even better if they control the raw materials that they could sell to other cosmetic makers all over the world as well.

exporting raw materials and the basic processing of raw materials tends to be extremely low-value work. Not necessarily what you want to build a business or worse, an economy on.

[MaxPower]

Funeral Home

[Redress10]

What I am saying is we may not be producing products and services in the ai/ data science and tech space but we can own a stake in the companies that do. That is what countries such as Dubai and Norway etc do via their various funds. They own significant shares in companies that producing tech and energy etc.

Same goes for any import that is eating away at our forex. Why not own a cereal/food company if we import 1 billion tt in cereal anyhow. Let's convert that billion tt spent into shares and own the company or companies. Then use those companies to export product all over the world and get forex that way via profits and dividends.

Same goes for tourism. Let's own profitable resorts all over the world and "earn" tourism dollars that way. We don't always have to spend time and money to build infrastructure that take years to finish and suffer cost overruns. There are immediate solutions to some of our woos.

Btw. This was suppose to be the plan since the 80s and 90s that's what places such as Dubai and Norway did to diversify away from oil and gas. They invested overseas.

If we keep importing without exporting then the currency is going to continue to weaken. We are going to run out of money.

[Dohplaydat]

Carnival had a nice little industry growing around it the past couple years. Hotels in POS always booked to capacity. Locals were creating package combos with tours, transport, accommodation, food, all-inclusive tickets, etc, and taking bookings directly online. Legit organic and sustainable growth in that sector before covid come and mash we up.

Yea it was growing organically, now all that mashup with covid. But what astounds me is that other islands trying hard to keep the industry afloat, here in Trini the government don't give a fork.

[Dohplaydat]

What I am saying is we may not be producing products and services in the ai/ data science and tech space but we can own a stake in the companies that do. That is what countries such as Dubai and Norway etc do via their various funds. They own significant shares in companies that producing tech and energy etc.

Same goes for any import that is eating away at our forex. Why not own a cereal/food company if we import 1 billion tt in cereal anyhow. Let's convert that billion tt spent into shares and own the company or companies. Then use those companies to export product all over the world and get forex that way via profits and dividends.

Same goes for tourism. Let's own profitable resorts all over the world and "earn" tourism dollars that way. We don't always have to spend time and money to build infrastructure that take years to finish and suffer cost overruns. There are immediate solutions to some of our woos.

Btw. This was suppose to be the plan since the 80s and 90s that's what places such as Dubai and Norway did to diversify away from oil and gas. They invested overseas.

If we keep importing without exporting then the currency is going to continue to weaken. We are going to run out of money.

I agree those would have been good ideas, especially if we could have invested and created a small offshore research center for those companies to train our local grads etc. Would have been amazing if we did that 5-10 years ago.

Africa is doing a lot of that right now, with tonnes of scholarships in AI and robotics being given out for almost a decade now.

Opportunity for that long gone, we spending from the HSF to pay salaries with no real end goal insight.

[Redress10]

the nice thing about Sacha model is they control everything up to the point of sale to the consumer. In doing so, they capture almost all of the final value of the product. Even if they were to shut down the local factory tomorrow, they still have a valuable brand and trademark they can slap on a US-produced cosmetic and make the same or more money.

This guy gets it. Even better if they control the raw materials that they could sell to other cosmetic makers all over the world as well.

exporting raw materials and the basic processing of raw materials tends to be extremely low-value work. Not necessarily what you want to build a business or worse, an economy on.

Ofc not but ownership is still important. I'm sure Apple owns or control its cobalt supply. This gives them better long term prospects and make it easier for investors to invest in the company.

The whole point is if you don't control your supply then your are at the mercy of the supplier who gets to set a price. Also, the finished product is entirely yours to profit from. That's why companies such as shell and bp also have gas stations. They don't just extract the resource, they own the entire supply chain.

[paid_influencer]

redress, how about this. Stop thinking in terms of importing and exporting. Think in terms of value added.

If you own an company that produces goods that you never interact with at all, the value you are adding comes from the capital investment. That is one form of adding value.

You can also own the copyright, brand name or patent associated with producing something. That is another form of adding value.

You can have a useful skill or knowledge, such as being a Carnival Band Leader that ensures everything is running smoothly. This is also a form of adding value.

You can also provide direct labor, like a doubles man that sells the band leader breakfast every morning.

All are "real businesses" that produce something of worth. Not just the one man who collects the fruits of all that collective value in a foreign currency.

[paid_influencer]

Ofc not but ownership is still important. I'm sure Apple owns or control its cobalt supply. This gives them better long term prospects and make it easier for investors to invest in the company.

The whole point is if you don't control your supply then your are at the mercy of the supplier who gets to set a price. Also, the finished product is entirely yours to profit from. That's why companies such as shell and bp also have gas stations. They don't just extract the resource, they own the entire supply chain.

Sure, but please remember we are a tiny country with relatively tiny amounts of capital. I would propose a better method for us would be to focus on adding value in a variety of different sectors, each man according to his ability and knowledge. In an open economy, where we would be a well diversified, services-based economy.

I would also pose that a floating currency is a necessary step to the above.

[Redress10]

redress, how about this. Stop thinking in terms of importing and exporting. Think in terms of value added.

If you own an company that produces goods that you never interact with at all, the value you are adding comes from the capital investment. That is one form of adding value.

You can also own the copyright, brand name or patent associated with producing something. That is another form of adding value.

You can have a useful skill or knowledge, such as being a Carnival Band Leader that ensures everything is running smoothly. This is also a form of adding value.

You can also provide direct labor, like a doubles man that sells the band leader breakfast every morning.

All are "real businesses" that produce something of worth. Not just the one man who collects the fruits of all that collective value in a foreign currency.

That's a misconception. You only need to "add value" if you can't own enough in order to profit off volume. So the adding value becomes a form of differentiation. Adding value also requires added infrastructural and technical investments alot of time. That is more long term options.

Take Switzerland for example. They are the leaders in the world for chocolate I believe. But cocoa doesn't grow in Europe. It mainly grows in Africa. The largest chocolate companies in the world are Mars inc, Hershey(American) and Nestle(Swiss). The largest growers of cocoa are Ivory Coast, Ghana, Nigeria etc. The west would buy the cocoa at a very low price(slave wages etc) and sell the chocolate at a very high price.

Now let us say Japan via one of its investment funds own a 13% share in Nestle and Nestle exports chocolate to TT and all around the world. Technically Japan exports chocolate and we could also stretch and say they also export a significant amount of cocoa as well. They are earning "forex" from a crop that they don't grow and from a product they don't produce and are not known for.

That is what diversification has looked like since the 80s and 90s and possibly decades older.

The importance of import and export is based on the fact that alot of our lives are based on our ability to import goods and services. We need to move away from this thought that "exporting" needs to be a physical product made in TT. We need to start seeing it as "earning".

[paid_influencer]

That's a misconception. You only need to "add value" if you can't own enough in order to profit off volume. So the adding value becomes a form of differentiation. Adding value also requires added infrastructural and technical investments alot of time. That is more long term options.

Take Switzerland for example. They are the leaders in the world for chocolate I believe. But cocoa doesn't grow in Europe. It mainly grows in Africa. The largest chocolate companies in the world are Mars inc, Hershey(American) and Nestle(Swiss). The largest growers of cocoa are Ivory Coast, Ghana, Nigeria etc. The west would buy the cocoa at a very low price(slave wages etc) and sell the chocolate at a very high price.

Now let us say Japan via one of its investment funds own a 13% share in Nestle and Nestle exports chocolate to TT and all around the world. Technically Japan exports chocolate and we could also stretch and say they also export a significant amount of cocoa as well. They are earning "forex" from a crop that they don't grow and from a product they don't produce and are not known for.

That is what diversification has looked like since the 80s and 90s and possibly decades older.

The importance of import and export is based on the fact that alot of our lives are based on our ability to import goods and services. We need to move away from this thought that "exporting" needs to be a physical product made in TT. We need to start seeing it as "earning".

more dotishness. I done with this. good night

[Redress10]

Ofc not but ownership is still important. I'm sure Apple owns or control its cobalt supply. This gives them better long term prospects and make it easier for investors to invest in the company.

The whole point is if you don't control your supply then your are at the mercy of the supplier who gets to set a price. Also, the finished product is entirely yours to profit from. That's why companies such as shell and bp also have gas stations. They don't just extract the resource, they own the entire supply chain.

Sure, but please remember we are a tiny country with relatively tiny amounts of capital. I would propose a better method for us would be to focus on adding value in a variety of different sectors, each man according to his ability and knowledge. In an open economy, where we would be a well diversified, services-based economy.

I would also pose that a floating currency is a necessary step to the above.

Tiny country and tiny capital is myth. There are countries that were worst off than us that used their heads and are thriving now.

What you meant to say is that we are a corrupt and racist country that don't make decisions based off of logic and economic sense but race and tribalism.

[Redress10]

Look more dotishness here. Come and See.

THE CHINESE

China Investment Corporation

One of their sovereign wealth funds tasked with utilizing the currency reserves of the country to make a profit. Almost a trillion usd worth of assets being managed. Bought a 3 billion usd stake in American investment group the Blackstone Group, a private equity firm based in NYC.

In September 2013, the fund acquire a 12.5% stake in Russian potash fertiliser company Uralkali for a rumoured $2 billion. The company produces standard and granular potassium chloride, sodium chloride, and carnalite and supplies products (through its own trader Uralkali Trading) to over 60 countries, with the major markets including Brazil, India, China, Southeast Asia, Russia, USA, and Europe.

Hmm imagine the dotishness of the chinese state exporting potassium to over 60 countries in the world but aint producing it. Dotishness for real.

https://en.wikipedia.org/wiki/China_Inv ... orporation

The Next sovereign wealth fund

State Administration of Foreign Exchange

Manage over $3 trillion for the People's Bank of China. They hold $100 billion worth of U.S. mortgage-backed securities, hoping to achieve higher returns than those on U.S. Treasuries. Bought stakes in banks such as Bank of Australia and New Zealand Banking Group. Also acquired small stakes in dozens of companies including British companies Rio Tinto, Royal Dutch Shell, BP, Barclays, Tesco and RBS. They also invest in other sovereign wealth funds.

The also use their wealth fund to defend the strength of their currency. The Hong Kong office (SAFE Investment Company Ltd) was set up just in June 1997, before the transfer of sovereignty of Hong Kong, and served an important role in defending the value of the Renminbi and Hong Kong dollar's peg to the US dollar against international speculators.

https://en.wikipedia.org/wiki/State_Adm ... n_Exchange

[Redress10]

The big Dawgs in this thing.

The Norwegians

The Government Pension Fund of Norway comprises two entirely separate sovereign wealth funds owned by the government of Norway. The Government Pension Fund Global , also known as the Oil Fund, was established in 1990 to invest the surplus revenues of the Norwegian petroleum sector. It has over US$1 trillion in assets, including 1.4% of global stocks and shares, making it the world’s largest sovereign wealth fund. In May 2018, it was worth about $195,000 per Norwegian citizen.

In 1998, the fund was allowed to invest up to 40 percent of its portfolio in the international stock market. In June 2009, the ministry decided to raise the stock portion to 60 percent. In May 2014, the Central Bank governor proposed raising the rate to 70 percent.

Investments included companies such as BAE systems, Raytheon Technologies, Thales Group, G4S, Walmart, Northrop Gumman Corp, Lockheed Martin, Honeywell, Airbus, Dongfend Motor Group, Batco.

These are just some of the investments made public who knows where else they have their money.

Dotishness


https://en.wikipedia.org/wiki/Governmen ... _of_Norway

[francis1979]

There is never a wrong time to open a business.

Challenge is achieving the requirements below for current economic climate in country that:
1) right product
2) in the right place
3) at the right cost
4) with the right promotion

P.s. simple definition of marketing but I use as a rule of thumb to gauge ideas

[Dizzy28]

The big Dawgs in this thing.

The Norwegians

The Government Pension Fund of Norway comprises two entirely separate sovereign wealth funds owned by the government of Norway. The Government Pension Fund Global , also known as the Oil Fund, was established in 1990 to invest the surplus revenues of the Norwegian petroleum sector. It has over US$1 trillion in assets, including 1.4% of global stocks and shares, making it the world’s largest sovereign wealth fund. In May 2018, it was worth about $195,000 per Norwegian citizen.

In 1998, the fund was allowed to invest up to 40 percent of its portfolio in the international stock market. In June 2009, the ministry decided to raise the stock portion to 60 percent. In May 2014, the Central Bank governor proposed raising the rate to 70 percent.

Investments included companies such as BAE systems, Raytheon Technologies, Thales Group, G4S, Walmart, Northrop Gumman Corp, Lockheed Martin, Honeywell, Airbus, Dongfend Motor Group, Batco.

These are just some of the investments made public who knows where else they have their money.

Dotishness


https://en.wikipedia.org/wiki/Governmen ... _of_Norway

^ Reading that listing of companies used as examples there and its clear war pays!!

[Redress10]

Meanwhile our politicans applauding themselves for opening bus sheds.

[2WNBoost]

Stop sitting on the side moaning that this person is not doing this for you. Instead get up and create opportunities for yourself.
Lockdown came and food delivery boomed.

Don’t be afraid to fail in a business venture.

[Numb3r4]

Steve Jobs existed in a country where infrastructure and a host of other opportunities existed.

Trinidad and Tobago is a bit behind on those things.

We do have the ability but somehow we cant seem to align ourselves with the opportunity.

[Dohplaydat]

A simple thing like accepting online payments in Trinidad is ridiculously hard to do and has been for years.

We need to free up the red tape that holds back innovation in the private sector, give out grants/subsidies to those doing as much work locally, fire half of those underperforming government employees and make them earn a proper living by being innovative.

We have a potentially great human resource that is made lazy, complacent by UWI and more so in the working world (unless you working for a multinational company).

Another issue is crime, any success on your part will attract bandits.

[Numb3r4]

If you promote innovation UWI wouldn't be an issue, you can do it without a university.

[2WNBoost]

There are earning opportunities out there. You just need to look.

[agent007]

2. Are you good at programming? You developed apps and web pages before? How about you become an independent consultant/apps developer?

3. Do you know how to make pies, doubles, pepper roti etc? Get a van and convert it to sell on the flat tray. Pick a good spot and sell away. If is one thing we all need to do is eat!

4. You know how to repair tyres, install and remove tyres from rims etc. You have experiencing balancing and perhaps can align etc? How about get a nice spot and get yourself some equipment and open up your own tyre sales center. You can also offer mechanic services too. Anything vehicle related is good business.

5. So you're a handy man. Can hold your own in masonry, carpentry, electricals, plumbing, welding etc..what am I alluding to? Become a general contractor. You might want to build up your reputation first by starting off building garages, porches, perimeter walls etc. When people see your work, you can graduate to an entire flat house and casting decking for 2 story house etc.

6. Are you a welder? Well, invest in a welding plant etc. Become a fabricator. You would be surprised at how many people in this country that want some burglar proof made or a gate or an outside bin etc.

7. Are you good at landscaping? Planting, cutting grass, pulling out weeds, trimming, pruning, grading, beautification etc.? Well open up your own landscaping business. Dont just be a wacker man, offer something a little better than that. Get a presentable looking van to haul your stuff with branded overalls etc.

8. Are you an expert in a subject? Maths, IT, Languages or Sciences etc. Offer virtual lessons and classes.

9. Can you upholster? Well, go out there and advertise yourself. Start off with what you confirmable with first. Maybe chairs then couches and probably venture off into vehicles too.

10. Are you good at auto mechanics? Get your certifications to formalize your skillset and open up your own garage. Whether it's a focus on engines, transmissions, brakes or suspensions.

11. Are you good at body shop work? Can you rub, paint and repair damages on vehicles? Do you have a possible place for a paint booth, chassis alignment machines etc. Then, open up your body shop.

12. Can you tint glass? Offer yourself as an entrepreneur to go island-wide tinting people's vehicles and do residential or commercial too.

13. Are you good at repairing electronics? Maybe cellphones, tablets, laptops, TV's, dvd players, home theaters, amplifiers, receivers, keyboards, CCTV systems, microwaves etc etc. Then you know what to do.

14. Anyone can do this. Go into residential and commercial carpet cleaning, power washing, steam cleaning and painting etc.

15. Are you good with dogs? Become a dog trainer. Open up a dog hotel if you have the inclination and resources to do so.

16. Are you a professional diver? Teach people to dive.

17. Can you swim professionally? Align yourself with a pool and teach people to swim.

18. Invest in a boat and have private boat tours and even offer meal packages too. Couples would sure patronize this.

19. Invest in mobile laundry services. Go to communities that would definitely need this service.

20. Buy a van and install a commercial paper shredder in it. Present yourself to businesses and believe me, you will get clients.

21. Do you have a television or radio personality look and voice? You have a passion for presenting and journalism? Create your own news channel. Advertisers would be pouring in.

22. Don't think we have enough authorized automotive dealerships in this country? Would you like to return some French brands back here like Peugeot, Renault or Citroen? Perhaps bring in some high-end Italian brands like Ferrari, Lamborghini, Alfa Romeo and Maserati or even English brands like RR, Bentley, Aston Martin and Lotus?

Well, do the necessaries to open up a brand new dealership here and take a portion of the luxury car market.

[2WNBoost]

PS: Apple started in a garage

You guys should check out InvestTT or Planting Seeds. If you really want something you would seek out the answers.

[Dohplaydat]

PS: Apple started in a garage

You guys should check out InvestTT or Planting Seeds. If you really want something you would seek out the answers.

I'd stay far away from Planting Seeds FYI.

2. Are you good at programming? You developed apps and web pages before? How about you become an independent consultant/apps developer?

3. Do you know how to make pies, doubles, pepper roti etc? Get a van and convert it to sell on the flat tray. Pick a good spot and sell away. If is one thing we all need to do is eat!

4. You know how to repair tyres, install and remove tyres from rims etc. You have experiencing balancing and perhaps can align etc? How about get a nice spot and get yourself some equipment and open up your own tyre sales center. You can also offer mechanic services too. Anything vehicle related is good business.

5. So you're a handy man. Can hold your own in masonry, carpentry, electricals, plumbing, welding etc..what am I alluding to? Become a general contractor. You might want to build up your reputation first by starting off building garages, porches, perimeter walls etc. When people see your work, you can graduate to an entire flat house and casting decking for 2 story house etc.

6. Are you a welder? Well, invest in a welding plant etc. Become a fabricator. You would be surprised at how many people in this country that want some burglar proof made or a gate or an outside bin etc.

7. Are you good at landscaping? Planting, cutting grass, pulling out weeds, trimming, pruning, grading, beautification etc.? Well open up your own landscaping business. Dont just be a wacker man, offer something a little better than that. Get a presentable looking van to haul your stuff with branded overalls etc.

8. Are you an expert in a subject? Maths, IT, Languages or Sciences etc. Offer virtual lessons and classes.

9. Can you upholster? Well, go out there and advertise yourself. Start off with what you confirmable with first. Maybe chairs then couches and probably venture off into vehicles too.

10. Are you good at auto mechanics? Get your certifications to formalize your skillset and open up your own garage. Whether it's a focus on engines, transmissions, brakes or suspensions.

11. Are you good at body shop work? Can you rub, paint and repair damages on vehicles? Do you have a possible place for a paint booth, chassis alignment machines etc. Then, open up your body shop.

12. Can you tint glass? Offer yourself as an entrepreneur to go island-wide tinting people's vehicles and do residential or commercial too.

13. Are you good at repairing electronics? Maybe cellphones, tablets, laptops, TV's, dvd players, home theaters, amplifiers, receivers, keyboards, CCTV systems, microwaves etc etc. Then you know what to do.

14. Anyone can do this. Go into residential and commercial carpet cleaning, power washing, steam cleaning and painting etc.

15. Are you good with dogs? Become a dog trainer. Open up a dog hotel if you have the inclination and resources to do so.

16. Are you a professional diver? Teach people to dive.

17. Can you swim professionally? Align yourself with a pool and teach people to swim.

18. Invest in a boat and have private boat tours and even offer meal packages too. Couples would sure patronize this.

19. Invest in mobile laundry services. Go to communities that would definitely need this service.

20. Buy a van and install a commercial paper shredder in it. Present yourself to businesses and believe me, you will get clients.

21. Do you have a television or radio personality look and voice? You have a passion for presenting and journalism? Create your own news channel. Advertisers would be pouring in.

22. Don't think we have enough authorized automotive dealerships in this country? Would you like to return some French brands back here like Peugeot, Renault or Citroen? Perhaps bring in some high-end Italian brands like Ferrari, Lamborghini, Alfa Romeo and Maserati or even English brands like RR, Bentley, Aston Martin and Lotus?

Well, do the necessaries to open up a brand new dealership here and take a portion of the luxury car market.

Excellent post bro.

[paid_influencer]

I would caution against going out on your own.. most people end up working harder with more stress and less money. Only attempt if you have extra money lying around you wouldn't mind losing.