Banking : Suresh Sookoo
‘I view a company as a living thing – as having a soul. Consequently, I believe a good business must be guided by a moral compass.’

Suresh Sookoo is RBTT Financial Group’s Chief Executive Officer, with more than 30 years of experience in banking and finance. He began his career as a teller in 1974 and worked his way up to CEO, leading an Operating Committee that is charged with the Group’s strategic direction and performance.

“RBTT has been making a conscious effort to place greater focus on working with our clients in terms of supporting them through this tough economic cycle. As we look to the year ahead, we’ll continue with this approach which signals to our clients that we are not just a ‘sunshine’ bank; we will be there to see them through the tough times.”

Sookoo explains how he feels a company should be managed.

“Essentially, I view a company as a living thing — as having a soul. Consequently, I believe a good business must be guided by a
moral compass.

“Values must be integral in shaping a company’s direction, because ensuring that a sense of ethics is reflected in an organisation’s everyday approach to business is key to success. This should apply over the life of a company, regardless of economic cycles or market conditions.”

And his approach to business reflects his personal values.

“I am guided by the basic principles instilled in me from childhood, a healthy work ethic, and unremitting drive. I have always been committed to finishing everything I undertake and finishing it well, regardless of the obstacles.

“From my starting point as a young bank teller, to where I am today, I have always been mindful of the importance and value of humility. This, I think, has kept me grounded and able to maintain healthy relationships at all levels throughout the organisation.

“It’s important to develop oneself not only as a person but as a leader. Dedication to lifelong learning is paramount in this regard.”

Construction: Emile Elias
‘Always invest in the best people in good times and in bad times.’

Eureshmile Elias is Executive Chairman NH international (Caribbean) Limited. Formed in 1995, from two independently successful companies (NH international Limited and Emile Elias & Company Limited, founded in 1965), it has become one of the regional leaders in construction services and project management; providing over US$500 million of construction services in more than 10 countries to both private and public customers.

Elias has also sat on Trinidad & Tobago cabinet-appointed committees overseeing the construction sector. His other former directorships include the Petroleum Company of Trinidad and Tobago and the Trinidad Co-operative Bank Trust Company Limited.

 “The current crisis will, like all other crises, come to an end. Our aim is to maintain our financial strength, keep our good people and preserve our capacity in the year ahead to enable us to take advantage of the inevitable rebound that will come.”

Getting through the next year will prove challenging, says Elias, but he advises, “always invest in the best people in good times and in bad times; stay up to date with innovation and technology; focus on stringent cost controls and ensure collection of all receivables; be honest with your bankers – you will need them; keep your promises to clients and be tough but fair with everyone you do business with.”

“I believe in being completely ethical in dealing with clients, suppliers and sub-contractors. That’s why I am a founding member of the Trinidad and Tobago Transparency Institute.”

Energy: Dr Thackwray Driver
‘As a leader you have got to be willing to get involved to get things done – you can’t just sit back and issue instructions.’

Dr Thackwray Driver is Chief Executive Officer of the South Trinidad Chamber of Industry and Commerce (STCIC), known as ‘The Energy Chamber’. He says he would highlight two policies for energy companies to pursue in the current climate.

“Firstly they should look for new export markets – there are plenty of opportunities around the world and people need to be ready to grab these. Secondly, make sure you continue to invest in people and process even when times are hard – most companies in the region are service companies and they need to ensure that they have the right processes and people in place if they are to take advantage of the opportunities that will come when the economy picks up. I would place a particular emphasis on trying to get your people and your processes certified.”

Dr Driver says his advice to people throughout the downturn is to keep things simple and pay attention to detail. He adds that businessmen should always “think about how your actions are going to affect other people – be aware that you have a responsibility to a wider society. I also believe that as a leader you have got to be willing to get involved to get things done – you can’t just sit back and issue instructions.”

And if you want to get ahead, get reading, says Dr Driver.

“Read – not just business books but novels, biographies, histories, etc. There is no better way to get insight into people than through reading – your levels of understanding and the imagination to deal with the huge range of people you will come across in your career will be hugely enhanced if your read good literature regularly. Disconnect the cable TV and get an Amazon.com account. Ask for advice from people you trust, but make your own mind up. Be willing to work hard at a variety of different things. Always volunteer for any new experience going.”

Entrepreneur : Christopher James
‘You have to be passionate about your business and in life general.’

Christopher James has been involved in the start-up of dozens of successful businesses throughout his long and illustrious career. In his youth he ran a nightclub in London before becoming a Director of British Gas. Since moving to Tobago 16 years ago he has been Chairman of the Tobago Division of the Trinidad and Tobago Chamber of Industry and Commerce, and is currently Regional Director of the Travel Foundation and Vice-President of the Tobago Hotel and Tourism Association.

“Business, whatever business, is in a constant state of flux. The main challenge is keeping your business relevant and in demand; that is harder in these times and will require more effort and a more strategic approach.”

But James is confident where the future lies.

“Green, Green, Green, we have to embrace this new mantra not only for our business’ sake but also for the sake of the planet, and the opportunities are numerous.”

James, who was awarded an MBE in 2005 for services to business, says there is no substitute for commitment and endeavour.

“You have to be passionate about your business and in life generally. Being a business owner can be frustrating, exciting, rewarding and exhausting within a 24-hour period, so make sure you are up to it. Through thorough research, adequate financing, determination and persistence to keep at it, you will succeed!”

Personally, James is looking to move forward on two fronts. “I want to finish the Indigo Bay Hotel in Tobago, and I also want to expand
the Travel Foundation’s water and energy saving programme in the region.”

Manufacturing: Greig Laughlin
‘Have an open door policy, be open to everyone and always be respectful, no matter what position the person holds.’

Greig Laughlin, who was elected President of the Trinidad and Tobago Manufacturers’ Association (TTMA) in 2009, is Managing Director of Laughlin & de Gannes Ltd and Chairman of Advance Tyres Systems Ltd.

Laughlin, who has enjoyed an extensive and varied business career, is also a member of the Ports and Customs Committee at Trinidad & Tobago Chamber of Industry & Commerce and a Director at the Export-Import Bank of Trinidad & Tobago. He believes the coming year is all about “weathering the financial storm, and working with stakeholders to become far more efficient and therefore more competitive”.

He advises manufacturing companies to “re-tool; now is the time while things have slowed, and put yourself in a position for when things improve because everything has a cycle,” and advises that recycling and green technology are fast emerging as the new industries and therefore offer exciting business opportunities.

Laughlin says that his recommendations for success in business are to: “have an open door policy, be open to everyone and always be respectful, no matter what position the person holds; do the right thing always, because the wrong way always finds a way to come back and bite you; don’t be afraid to put yourself in a position to prove yourself; think outside the box and focus a business on
untapped niches.”

Real Estate: Marc Persaud
‘One of the greatest traits a business person can possess is the ability and willingness to always continue the learning process and acquire as much knowledge as possible.’

Marc Persaud is Chairman and CEO of Sterling Mason Caribbean Estates, a regional high-end real estate company with projects throughout most of the English-speaking Caribbean. It was established, in late 2007, to serve the demand for fully-integrated luxury Caribbean property expertise.

 “The foundation of any great business should be just the same in a lenient economic climate as in a tough one. The consummate core values of stellar customer service, unparalleled professionalism, efficiency and value-adding cost management, as well as continuous innovation and improvement should continue, unwavering, in all environments.

“The economic climate has forced everyone to reflect on their business model and methodology. Sterling Mason Caribbean Estates actively pursues relationships and opportunities even when they are outside our traditional comfort zone.”

Persaud says there is no substitute for knowledge and commitment in becoming successful.

“At the start of your career you will be the most inexperienced you will ever be, if in no other area but the art of work itself. Learn and experience as much as you can in both depth and breadth and don’t hesitate to test the limits or experiment with different approaches.
“For the intrepid entrepreneur, enthusiasm and courage have to be unwavering. You will realise that there is so much you did not expect or even anticipate and you will have to adapt and boldly move forwards.

“Whether you are self-employed or work for someone, try to find an area of work that you genuinely enjoy and are truly passionate about. This proves to be a wonderfully powerful motivating factor.

“One of the greatest traits a top quality business person can possess is the ability and willingness to always continue the learning process and acquire as much knowledge as possible. In every new environment there is the opportunity to learn – you just have to be willing to listen.”

Tourism: Kevin Kenny
‘If you want to succeed you have to make sure you put the time in and work harder than everyone else.’

Kevin Kenny, President of the Trinidad & Tobago Hotel Association, says that tourism faces a tough year, but operators should guard against panic measures.

“When I look around the Caribbean everyone is just cutting prices. This benefits nobody in the long-term. Increase the value you’re offering, not the price but the value, by re-packaging goods and services..”

Kenny also believes that cash is king when it comes to survival in the next 12 months.“Profits are irrelevant right now; those that will survive are the ones who have the healthier cash flow. Always have enough cash in the bank to meet demands.”

And there’s light on the horizon, says Kenny, who is also Executive Manager of Resort Development at Angostura Ltd. He believes tourism will be one of the first industries to emerge from the recession.

“Start planning how to take advantage when things start to pick up, as they inevitably will. Everyone is very gun-shy right now but at some stage you have to start selling goods and services more aggressively again.

“To those looking to come into tourism I would say it’s a great industry to be in, full of opportunities for small business people in particular. We tend to think of tourism as hotels but in fact it’s made up of hundreds of thousands of small entrepreneurs who can make a fantastic living. Fundamentally, you have to look for a point of difference, so do something different and do it to the best of your ability.” According to Kenny, long-term keys to success include hard work and customer focus.

“If you want to succeed you have to make sure you put the time in and work harder than everyone else. Secondly, constantly challenge yourself to think creatively. And finally, always be customer-focused. In good times or bad you have to concentrate on delivering excellent customer service.”

Small Business: Dhisha Moorjani
‘Be consistent, pay a lot of attention to small details, always maintain a high degree of awareness and constantly capture the interest of the customer.’

Dhisha Moorjani is Owner/Operator of House of Jaipur, a boutique store in Woodbrook, Port of Spain, Trinidad, selling Indian clothes, jewellery, furniture, furnishings and handicrafts. She began the business, which also now offers a tearoom, from her home in 2001, before moving to a shop premises in 2003.

 “I am always striving to give better service, and the current economic climate just convinces me that it is even more important now. I constantly challenge myself to look for new products and use different marketing strategies each year. I pay a lot of attention to minute details, and the customers do notice. This way I don’t get bored and I don’t give my customers a chance to be bored.

“I believe in the quality of products that I sell and stand by it. My business is a labour of love for me, and I am always searching for new and interesting products for my boutique.

“Prices could sometimes be on the higher end, but if I am confident about the origin of the product, and the work that went into the production, then it is easy for me to sell it. It markets itself. I believe that my customers are prepared to pay for the quality of workmanship involved.

“I only buy what I like. My business reflects my taste and I have been fortunate that it has been a win-win situation for me. If a supplier sends me items which I have not ordered, or replaces an item I ordered with something else and I am not happy with it, then I refuse to display it. I would rather get rid of it at a loss than take the time to try and sell it.

“There are always opportunities for more businesses. Competition is always good and imitation is always flattering. Be consistent, pay a lot of attention to small details, always maintain a high degree of awareness and constantly capture the interest of the customer. Finally, love what you do.”