Tag: small business

Business in Trouble™ (BIT) Sessions

Posted on by Cherise

A Strategic Solution for Struggling Small Business Owners

Your Business May Be in Trouble — But It’s Not Beyond Repair.

If you’re grappling with low sales, cashflow problems, or marketing that’s just not working, The Timely Entrepreneur’s Business in Trouble™ (BIT) Sessions offer a fast, focused solution. These sessions are built for urgent action and meaningful change—designed to help small and growing businesses move from crisis to clarity with expert guidance and real-world strategies.

What Are BIT Sessions?

Personalised Business Help — When You Need It Most

BIT Sessions are one-on-one consultations tailored for small business owners who are overwhelmed, stuck, or simply not seeing the results they expected. Each session is structured to diagnose your biggest challenges and deliver clear, actionable steps to fix them—fast.

Whether you’re struggling to attract customers, secure financing, or make sense of your financials, a BIT Session will help you reconnect with your goals and find your way forward.

Why Book a BIT Session?

✔ Expert Insight – Work with professionals who understand the realities of entrepreneurship.
✔ Tailored Solutions – No fluff. Just strategies that work for YOUR business.
✔ Quick Results – Start implementing changes from day one.
✔ Local Understanding – We know the Caribbean context and what works in Trinidad & Tobago.

Don’t Wait for a Full Collapse. Act Now.

If your business feels like it’s barely staying afloat, now is the time to get help. BIT Sessions are built to provide fast clarity, structured planning, and lasting impact.

📞 Book your BIT Session today.
Start transforming your business with step-by-step strategies that work.

Frequently Asked Questions (FAQs)

Q1: How long does a BIT Session last?
A: Typically, between 60–90 minutes, depending on your specific challenges.

Q2: Can BIT Sessions help with getting a loan or opening a business bank account?
A: Yes. We assist with everything from cashflow planning to preparing the financials and pitch to present to banks or investors.

Q3: Is this service for startups too?
A: Absolutely. BIT Sessions are ideal for both new and established businesses facing roadblocks.

Q4: How much does a private BIT session cost?

A: A private BIT session costs TT$300/US$45 session

Q5: What do I get out of a BIT session?

A: You leave with the following:

  • Diagnosis summary
  • 3 Immediate Action Steps
  • 1 Long-Term Strategy
  • Recommended tools/resources
  • Follow-up schedule

Q6: How many BIT sessions would I need?

A: Clients usually require just one BIT session. Larger projects that are a compilation of issues though, may require another session.

BIT Sessions are not just another consultation—they are your business’s emergency toolkit.
With the right help, even the most troubled business can find its way back to stability and success.

Ready to turn things around?
Book a BIT Session now — your business deserves it. Call or WhatsApp 18684880507 / 18687606221 or if it’s that urgent, let’s start here: Business in Trouble™ (BIT) Client Intake

How MSMEs Can Future-Proof Their Business Against Rising Tariffs

Posted on by Cherise

Strategies for Small Businesses and SMEs to Thrive Amid Global Trade Uncertainties

In today’s interconnected economy, tariffs and taxes are powerful tools that governments, use to influence trade policies. For Micro, Small and Medium-sized Enterprises (MSMEs), navigating the complexities of tariffs can be challenging but essential to safeguard their businesses. Let’s take a comprehensive look on how to tariff proof your business, ensuring resilience in an ever-evolving global trade landscape.

TARIFF TAX

A tariff is a type of tax charged on imports (or sometimes exports).

 A tax is a general charge by the government on income, goods, services, or property.
It’s used to control trade and protect local industries.

It’s used to raise revenue for public services (like roads, schools, hospitals).
Only applies to international trade. Applies to individuals, businesses, or domestic sales.
Example: A 10% tariff on imported cars. Example: Income tax, VAT, sales tax, property tax.

NOTE: All tariffs are taxes, but not all taxes are tariffs.

Understanding Tariffs and Their Impact on Small Businesses

What Are Tariffs and How Do They Affect the Economy?

Tariffs are taxes imposed by governments on imported goods, making them more expensive. They aim to protect domestic industries but can inadvertently increase costs for small businesses that rely on imported materials or products. During the Trump administration, tariffs on goods from countries like China created significant ripple effects across the economy, affecting prices, supply chains, and profit margins.

Why Small Businesses Need to Pay Attention

Unlike large corporations, MSMEs often operate with tighter margins and less bargaining power. An increase in tariffs can lead to:

  1. Higher procurement costs
  2. Delayed shipments
  3. Reduced competitive edge
  4. Potential layoffs or downsizing

Proactively understanding and managing tariffs is crucial to maintaining profitability and growth.

Strategic Approaches to Tariff Proofing Your Business

Diversify Your Supply Chain

Source Locally When Possible

Example: A small furniture manufacturer relying on imported wood can explore local suppliers to mitigate tariffs. Local sourcing not only reduces exposure but also supports the local economy.

Explore Multiple Suppliers

Engaging with multiple suppliers across different regions minimizes reliance on a single source vulnerable to tariffs, ensuring more stable supply chains.

Adjust Pricing and Contracts

Incorporate Tariff Adjustments

Include clauses in supplier or customer contracts that account for potential tariff fluctuations to prevent unforeseen expenses impacting profit margins.

Dynamic Pricing Strategies

Regularly review and adjust pricing to reflect changing costs due to tariffs, helping micro and small businesses stay resilient.

Invest in Innovation and Product Development

Developing unique, locally-produced products can reduce dependence on imported components, shielding your business during tariff increases.

Example: A small electronics firm developing in-house components can reduce vulnerability to external tariffs.

Monitor Policy Changes and Engage with Policy Makers

Stay informed about taxes and tariffs policies—especially those enacted during administrations like Trump—and participate in industry associations to voice concerns and influence policy decisions.

Additional Tips for Small Business Tariff Resilience

Financial Planning and Risk Management

  1. Maintain cash reserves to absorb cost fluctuations.
  2. Use hedging strategies where applicable to lock in costs.
  3. Review insurance policies to cover supply chain disruptions.

Leverage Government Resources and Support Programmes

Many governments offer SMEs support programmes during trade disputes, including grants, loans, and advisory services.

Frequently Asked Questions (FAQs)

Q1: How can small businesses determine if tariffs will affect their supply chain?

Answer: Small businesses should conduct a supply chain audit, identify imported components, and stay updated through trade news and government announcements regarding tariffs.

Q2: Are there tax incentives or relief programmes available for SMEs impacted by tariffs?

Answer: Yes, some governments provide relief programmes. Consult local commerce chambers or industry associations for tailored support options.

Q3: Can diversification fully protect my business from tariff impacts?

Answer: While diversification reduces risk, it cannot eliminate it entirely. Combining diversification with strategic planning offers the best protection.

Tariffs are a significant factor influencing the economy and small business operations. Micro and SMEs must adopt proactive tariff proofing strategies—such as supply chain diversification, dynamic pricing, innovation, and policy engagement—to safeguard their businesses against unpredictable trade policies.

Remember, being informed and adaptable is the key to maintaining resilience amid global trade uncertainties. Start implementing these strategies today to future-proof your small business and turn challenges into opportunities for growth.

Take the first step toward tariff resilience! Review your supply chain, explore local sourcing options, and stay informed about trade policy updates. Your business’s future depends on proactive planning.

The Timely Entrepreneur’s Guide: How to Negotiate Like a Pro 

Posted on by Cherise

The Timely Entrepreneur’s Guide: How to Negotiate Like a Pro 

A playbook for closing deals, retaining clients, and maximizing value—Caribbean edition.

 

Table of Contents 

The Psychology of Negotiation 

Pre-Negotiation Prep 

6 Proven Caribbean-Tested Tactics 

Handling Objections 

Closing with Confidence 

Practice Scenarios 

 

The Psychology of Negotiation 

Key Mindsets: 

Win-Win or Walk Away: Never force a deal that erodes trust. 

Anchor First: The first number on the table sets the tone. 

Silence is Power: Pauses pressure the other party to fill the gap. 

Caribbean Context: 

Relationship-first: “Lime and talk” builds rapport before numbers. 

Flexibility: Be ready for “Island time” delays in decisions. 

 

Pre-Negotiation Prep 

Checklist: 

Know Your BATNA (Best Alternative to a Negotiated Agreement): What’s our Plan B if this fails?

Research Their Pain Points: Are they pressured by quarterly targets? Competitor threats?

Define Walk-Away Terms: Minimum acceptable price/terms.

 

6 Proven Caribbean-Tested Tactics 

Tactic 1: The “Trini Aunty” Approach 

Start with warmth, then get strategic.

Script: 

We’re excited to help—let’s find a way that works for both sides. What’s your ideal outcome?

Tactic 2: Trade, Don’t Discount 

Swap concessions instead of lowering prices.

Example: 

“If you commit to a 12-month contract, we’ll include a free resilience audit.” 

Tactic 3: The “Colmado” Principle

Bundle small wins.

Script:

“For [X] price, you’ll get [Y] AND [Z]—like buying a ‘pack’ at the corner shop!”

Tactic 4: Leverage Local Pride 

Appeal to community impact.

Script: 

 “Partnering with us means supporting Caribbean-owned research and innovation.” 

Tactic 5: The “Carnival Deadline” 

Create urgency without pressure.

Script: 

“”This offer stands until Friday—just like Carnival, it’s a limited-time experience!” 

Tactic 6: The “Steelpan Pause” 

“Let silence work for you.” 

After presenting terms, wait 5+ seconds. 

 

Handling Objections 

Objection | Response  

| “It’s too expensive.” | “What budget were you hoping for? Let’s tailor a package.” | 

| “We need to think.” | “Of course! What specific concerns should I address now?” | 

| “Your competitor offers X.” | “Interesting! How do they handle [unique value you provide]?” | 

 

Pro Tip: Reframe with “I understand… however…” (e.g., “I understand cost is key—however, our ROI is 3X industry average.”). 

 

Closing with Confidence 

 Signals They’re Ready: 

– Asking about implementation. 

– Nodding/saying “That makes sense.” 

 

 Scripts: 

– Assumptive Close: “Should we start onboarding on Monday or Wednesday?” 

– Sharp Angle Close: “If I include [bonus], can we sign today?” 

 

Never: “So… do you want it?” 

Practice Scenarios

Role-Play 1: The Hesitant Client 

– You: Pitch a 6-month BCP consulting package ($5K). 

– Client: “We only have $3K.” 

– Goal: Trade concessions (e.g., reduce scope but lock in a contract). 

 

Role-Play 2: The Comparison Shopper 

– Client: “Company X charges less.” 

– You: Highlight unique differentiators (e.g., “Our products are Trinidad-tested—here’s a case study.”). 

 

“In the Caribbean, we don’t just negotiate deals—we build partnerships. Go get ‘em!” 

— The Timely Entrepreneur Sales Team

Recession Marketing Playbook

Posted on by Cherise

RECESSION MARKETING PLAYBOOK

By The Timely Entrepreneur Resource and Research Centre 

 

The Reality of Recessions 

Let’s face it—economic downturns are brutal. Customers tighten their wallets, competitors get desperate, and many businesses vanish. But here’s the truth: recessions also create HUGE opportunities for brands that adapt quickly. It’s what those in business identify as ‘the perfect storm’.

The Timely Entrepreneur Resource and Research Centre will show you how to not just survive—but THRIVE—with our proven Recession Marketing Playbook. 

By the end of this session, you’ll have 3 actionable strategies to recession-proof your marketing, retain customers, and even gain market share. Let’s dive in!” 

Part 1: Recession Consumer Psychology 

  1. “Fear + Frugality Win”

   – During recessions, people don’t stop spending—they spend DIFFERENTLY. They prioritize value, trust, and essentials. Your job? Speak directly to those needs.

 

  1. The 3 R’s of Recession Buyers:

   – Reassurance: “Will this solve my problem LONG-TERM?” 

   – Reduction: “Can I get it cheaper or slower?” 

   – Rewards: “What extra value can you throw in?” 

Case Study: “When Airbnb rebranded during the 2008 crash, they didn’t sell ‘vacations’—they sold ‘earning extra cash from your spare room.’ Revenue jumped 80%.” 

 

Part 2: 3 Recession-Proof Marketing Strategies 

 Strategy 1: Double Down on Existing Customers 

Acquiring new customers costs 10X more than retaining old ones. Here’s how to keep them loyal:

– “We know times are tough. That’s why we’re giving YOU, our valued customers, [exclusive discount/free upgrade/early access]—because you matter more than ever.” 

Tool: Check out our Loyalty Email Subject Lines Templates

Strategy 2: Reframe Your Value (Not Your Price) 

Discounting is a race to the bottom. Instead, bundle or reposition:

– Example: Don’t sell ‘cleaning services’—sell ‘Time-Saving Sanity Packages for Stressed Parents.’ Charge MORE for convenience.

Exercise: Write down your core service. Now add ‘so you can…’ to highlight outcomes. 

 

 Strategy 3: Hyper-Targeted, Low-Cost Channels 

Forget spray-and-pray. Focus on high-ROI platforms: 

– Email: 42% ROI (vs. 2% for social ads). Resend unopened emails with ‘Did you forget?’ subject lines. 

– WhatsApp/SMS: 98% open rates. Send ‘flash offers’ to your top 20% buyers. B-fitastic (Trinidad) has mastered this.

 

Template: WhatsApp Scripts for Urgent Promos

 

Part 3: Adaptive Messaging 

 Words That Work in Downturns 

    Swap This → For This 

  -“Premium” → “Worth Every Penny” 

  -“Sale” → “Smart Savings” 

  -“New” → “Proven Solution” 

 

Activity: Rewrite one of your ads using these triggers. Pair up and critique!

 

Storytelling Wins 

One of our bakery clients facing flour shortages launched ‘Small Batch Fridays’—limited, higher-priced items. Sales jumped 35% because scarcity = perceived value.

 

Closing Call-to-Action 

Recessions reward the agile.

Your homework: 

  1. Pick one strategy to implement this week.
  2. Stay tuned for our next workshop—we’ll dissect YOUR campaigns and make them downturn-proof.

 

Remember: The businesses that win aren’t the biggest—they’re the ones that adapt the fastest. Which one will you be? 

 

Do you still need 1:1 help? Book a discovery session with us. Let’s build your comeback story! 

 

Loyalty Email Subject Lines for Recession-Proof Marketing

Posted on by Cherise

Recession-Proof Marketing

Keep customers coming back even when budgets are tight with these proven subject headings.

Here are some Psychology-Backed Subject Lines:

The “Exclusive Perk” Email

    • For: Rewarding top customers
    • Subject: “You’re Invited: A Little Something Just for You”

The “We’re Here for You” Email

    • For: Building trust during tough times
    • Subject: “No Gimmicks—Just Real Support for You”            

The “Early Access” Flash Sale

    • For: Creating urgency without desperation
    • Subject: “Your Early Pass to our special deals before we tell everyone”

The “We Miss You” Re-Engagement Email

    • For: Bringing back inactive customers
    • Subject: “We Noticed You’ve Been Gone—Here’s a Welcome Back Gift”

The “Community Appreciation” Email

    • For: Local businesses fostering loyalty
    • Subject: “Because You’re More Than a Customer—You’re Family”

“All my discovery sessions were really helpful. An investment well worth my time.”

– Happy Customer

The Timely Entrepreneur’s Recession-Readiness Framework 

Posted on by Cherise

 

Proactive Strategies to Survive & Thrive in Economic Downturns 

Phase 1: Fortify Your Foundations 

(6–12 Months Before Potential Recession) 

 1. Financial Armor 

– Cash Reserves: Build a 6-month liquidity buffer (prioritize this over expansion). 

– Debt Strategy: Refinance high-interest loans; negotiate flexible terms. 

– Expense Audit: Identify and cut 3–5 non-essential costs (e.g., subscriptions, redundant software). 

 

 2. Customer Retention Engine 

– Loyalty Programs: Launch “recession-proof” perks (e.g., prepaid discounts, membership tiers). 

– Payment Flexibility: Offer installment plans or barter options for cash-strapped clients. 

– Feedback Loop: Survey top 20% customers to anticipate changing needs. 

 

 Phase 2: Adapt Your Operations 

(3–6 Months Before) 

 3. Revenue Diversification 

– New Streams: Monetize existing assets (e.g., rent unused space, sell digital templates). 

– Pivot Potential: Test low-cost offerings (e.g., consulting, maintenance packages). 

– Supply Chain: Secure backup local suppliers to avoid import delays. 

 

✓ Idea Bank: 50 Low-Cost Revenue Streams

 4. Lean & Agile Team 

– Cross-Training: Ensure 2+ staff can perform critical roles. 

– Performance Metrics: Shift KPIs to efficiency (e.g., profit per labor hour). 

– Talent Pipeline: Partner with freelancers/contractors to scale flexibly. 

 

 Phase 3: Crisis-Proof Execution 

(0–3 Months Before/During Recession) 

 5. Hyper-Targeted Marketing 

– Message Shift: Highlight value (e.g., “Cost-saving solutions for tough times”). 

– Channel Focus: Double down on highest-ROI platforms (often email > social ads). 

– Community Leverage: Co-market with complementary businesses. 

 

✓ Scripts: Recession Marketing Playbook

 

 6. Stakeholder Alignment 

– Suppliers: Renegotiate terms (e.g., bulk discounts, longer payment windows). 

– Bank/Lenders: Pre-approve emergency credit lines before crunch time. 

– Employees: Transparent communication + profit-sharing to boost morale. 

 

✓ Guide: How to Negotiate Like a Pro

 

Phase 4: Post-Recession Growth 

(Recovery Mode) 

 7. Strategic Reinvestment 

– Opportunistic Spending: Acquire distressed assets/competitors at a discount. 

– Tech Upgrades: Automate to reduce long-term labor costs. 

– Brand Refresh: Position as the “post-crisis leader” with storytelling. 

 

 8. Future-Proofing 

– Monthly Resilience Reviews: Track leading indicators (e.g., late payments, search trends). 

– BCP Update: Integrate recession lessons into your continuity plan. 

 

 Your Action Plan 

1. Assess Your Stage.

2. Prioritize 3 Steps: Focus on financials, customers, or operations first. 

3. Join Our client group and chat with one of our Business Development Officers

 

“Recessions don’t destroy businesses—complacency does. Prepare today, profit tomorrow.” 

— The Timely Entrepreneur Resource and Research Centre 

 

 

The Timely Entrepreneur’s STEP Ahead Internship Programme

Posted on by Cherise

Dedicated to Entrepreneurs

STEP Ahead Internship Programme!

Are you a young, ambitious Trinidadian aged 16–25, eager to break into the world of entrepreneurship but unsure where to start? The Timely Entrepreneur Resource and Research Centre (TTERRC) is thrilled to introduce you to our STEP Ahead: Youth Entrepreneurial Launchpad internship programme—your gateway to hands-on business experience, mentorship, and real-world skills!

Why Join STEP Ahead?

This July–August, our hybrid (in-person + virtual) internship offers:
Practical Training: Work on real projects—from market research to startup pitching.
Expert Mentorship: Learn from seasoned entrepreneurs and business leaders.
Stipend Support: Earn money for your commitment (2–3 days/week).
Portfolio Boost: Walk away with a certificate, experience, and tangible work samples.

Who Should Apply?

– Aspiring founders with big ideas.
– Students curious about business careers.
– Young creatives, techies, or problem-solvers ready to make an impact.

How to Apply

Visit this link here (click) to fill out our quick application form by Deadline 25 June 2025. Limited spots available!

Don’t just dream—build your future with Timely!

#YouthEntrepreneurs #STEPAhead #TERRCTrinidad

 

Business Resilience Plan Template

Posted on by Cherise

BUSINESS RESILIENCE PLAN TEMPLATE
By The Timely Entrepreneur Resource and Research Centre

1. Business Overview

– Company Name:
– Date Prepared:
– Prepared By:
– Key Stakeholders (Name/Role/Contact):

2. Risk Assessment

Identify potential threats and their impact (High/Medium/Low).
(Customize with risks specific to your industry.)

3. Critical Business Functions

List essential operations that must continue during a disruption (rank by priority).
1. Payroll & Employee Support
2. Customer Service/Communication
3. Inventory Management & Order Fulfillment
4. IT & Data Security
5. Financial Operations (Cash Flow, Invoicing)

4. Resilience Strategies

A. Financial Resilience
– Maintain 3–6 months of operating cash reserves.
– Diversify funding sources (e.g., lines of credit, grants).
– Cut non-essential costs (identify these in advance).

B. Operational Resilience
– Cross-train employees for critical roles.
– Backup suppliers (list 2–3 alternatives for key inventory/services).
– Remote work capabilities (tested and ready).

C. Customer & Communication Plan
– Crisis messaging templates (for email/social media).
– Key contacts list (customers, vendors, media).
– Loyalty retention strategies (e.g., discounts for long-term clients).

D. Technology & Data Backup
– Cloud-based systems for remote access.
– Weekly data backups (stored off-site/encrypted).
– Cybersecurity protocols (e.g., VPNs, MFA).

5. Emergency Response Plan

Step-by-step actions for immediate crises (e.g., fire, cyberattack, sudden lockdown).
– Step 1: Activate crisis team (list names/roles).
– Step 2: Secure people/assets (evacuation, IT shutdown).
– Step 3: Communicate with stakeholders (use pre-drafted templates).
– Step 4: Switch to backup systems (e.g., remote work, alternate suppliers).

6. Recovery Roadmap

How to restore normal operations post-disruption.
– Short-term (0–7 days): Resume critical functions (e.g., payroll, customer support).
– Medium-term (1–4 weeks): Rebuild inventory, assess financial damage.
– Long-term (1–6 months): Revise strategy based on lessons learned.

7. Testing & Maintenance

– Quarterly drills (e.g., mock supply chain disruption).
– Annual plan review (update risks/strategies).
– Employee training (new hires, refresher courses).

8. Resources & Support

– The Timely Entrepreneur’s Resilience Toolkit (templates, webinars).
– Local emergency contacts (e.g., IT support, backup suppliers).
– Insurance policies (review coverage annually).

Get Started Now
✅ Book a private consultation to customize your plan.
✅ Join our ***Resilience Workshop to stress-test your strategy.

“The best time to prepare was yesterday. The second-best time is NOW.“

This template is designed to be practical, actionable, and adaptable for businesses of all sizes—especially entrepreneurs and small businesses.

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