BUSINESS SUCCESS: IT’S ALL A MATTER OF MANAGEMENT

From time to time in Caymanian Times, we run feature articles marking a significant milestone or well-deserved promotion within one of the many businesses or organisations that operate here.

Just a few days we devoted an editorial recognising the trust that many businesses, organisations and government ministries and agencies are putting into their Caymanian staff by entrusting them with greater responsibilities.

As we said then that is a success for the individuals and also the respective companies, organisations and public service departments that promote or appoint them into more senior positions.

What’s also important is that in addition to recognising the professionalism and capabilities of those personnel, it also reflects positively on the companies and agencies themselves.

Even more importantly, it shows that they are well-run.

That’s the key ingredient in the overall recipe for success. Proper management of all resources; financial, material and staff, along with knowing your market.

Our recent spotlight on Godfrey’s Enterprises, encompasses that and encompasses it in a manner that makes them an example to emulate whether for small enterprises or larger corporations.

Cayman is quite literally littered with business failures where companies crumbled due to overreach; ineffective management being a main shortcoming.

Many businesses went under during COVID-19. In some instances, the pandemic was indeed to blame. But in many other cases business rode out the pandemic and are either gradually returning to growth or in some exceptional examples, bouncing back.

It begs the question: How come some others got it so wrong?

Blaming COVID, the government, the market, your industry, or your competitors is not going to solve your problems.

Some honest, deep reflection and devising a strategy and plan of action are great places to start. Others have done it and are the better for it.

In a challenging business environment companies like Godfrey’s Enterprises have stood the test of time. They have survived and thrived.

We salute them and others who go from strength to strength.

These are companies that are well-managed, acutely focused, have a succession plan in place, have stayed the course, and are simply good at what they do.

Cayman is a great place to do business. But you must be up to the task. Look around, success stories abound.

If you are failing, rather than pointing an accusing finger elsewhere, point it towards a mirror. That accusing finger will be pointing right back at you.

Just roll up your sleeves and put in the work. It pays great dividends.