Growth & Jobs | Collaboration and networking key to success in business – Solomon Sharpe

Solomon Sharpe, chief executive officer of Main Event Entertainment, said that "collaboration and networking" are key strategies to operating a successful business.

Sharpe gave that advice during his address at a Social Enterprise Boost Initiative (SEBI) networking session, branded the 'SEBI Biz Mix', at The Opa Greek Restaurant & Lounge at Devon House, St Andrew, recently.

"Collaboration is very important, therefore, the moment you become an entrepreneur, you need to lose the 'I', as it is now about 'our team'," he pointed out.

Representatives of some 20 social enterprises participated in the first in a series of SEBI 'peer-to-peer collaborations', between social enterprises and traditional entrepreneurs, who are in the start-up and accelerator phases of their business development.

Sharpe noted that in business, you need to know when to let go and allow "your community" to work for you as he disclosed that having decided to up-scale his operations and go public with his company, he had to bring on board persons who helped in guiding the operations.

He highlighted that being an entrepreneur is fun, rewarding, and taxing, therefore, one must remain focused.

"You have to put in the hard work daily, and don't ever quit," he stressed.

GREATER PEER-TO-PEER COLLABORATION

Onyka Barrett Scott, acting general manager of the JN Foundation, said that the networking sessions, which will be held over the next three to four months, were developed to encourage "greater peer-to-peer collaboration" between start-up social enterprises and traditional entrepreneurs, who are in the initial and accelerator phases of their business development.

"This is indeed a proud moment for the JN Foundation," Barrett Scott said, "In that, from leading the charge to starting a national conversation on the social enterprise sector, we were able to incubate, and now, we are in the process of accelerating social enterprises, through the SEBI, which is now in its final phase of operation."

The networking sessions will cater to top social entrepreneurs and social enterprise champions from the private sector as well as entrepreneurs from the start-up space and other business accelerators.

The SEBI Biz Mix, dubbed 'Meet Your Match', engaged the entrepreneurs in sessions such as the "Privilege Walk" and "Business Speed Dating."

SEBI - a key player in helping to mobilise investment and development of social enterprises

SEBI - key to mobilising investment

During the past six years, Social Enterprise Boost Initiative (SEBI), an initiative of the JN Foundation, implemented in partnership with the USAID, was instrumental in training business leaders and their teams, to achieve efficiency and growth, by improving core business competences, including financial management, marketing and promotional skills.

As a result, SEBI has been a key player in helping to mobilise investment and development of social enterprises, enabling them to generate revenue, employment and address a diverse number of social and environmental ills, particularly in underserved communities across the country.

Not only have SEBI participants enhanced their business, generating in excess of $125 million in revenue, but they have been able to employ more than 200 persons over the last six years.

To date, some 28 social enterprises have benefited directly from SEBI, through its business development programmes; and approximately 40 other enterprises have gained assistance, indirectly.

A social enterprise is an entity created primarily to address a social or environmental challenge by applying profit making business and generating sustainable value to its direct beneficiaries and the society (Social Enterprise 101).