NCB, the SMEs' Coach
28 Feb 2016
Riding on the success of its second SME Conference, the National Commercial Bank Jamaica Limited (NCB) conjured a master plan for its small business clients. The Bank sent them back to school - free of cost. Themed Growth through Transformation, the Conference highly subsidized by NCB and valued in excess of $42 million was attended by more than 130 Small and Medium Enterprises (SMEs), as well as exhibitors and resource persons. The event featured local and international presenters, facilitating hands-on workshops and interactive sessions to help participants take their businesses to the next level. Still, the Bank realised there were gaps and staged a further intervention. “While the Conference was a success, we recognised that our SME customers were in need of additional capacity-building. Many were excelling, but there were still fundamental gaps which needed to be fixed if the growth was to be sustained such as developing financial statements, and understanding profit versus expenses. This led us to establishing the NCB Group ActionCOACH Training Series for our customers. In October 2015, the first cohort of 19 SME customers began the five-month intensive business development training. The participants spanned retail, health, manufacturing, entertainment, financial, automotive and construction industries. Facilitated by ActionCOACH Jamaica’s Marcia Woon Choy, the bi-monthly sessions focused on: wealth management, understanding how to read financial statements, what to look for in a good accountant, marketing fundamentals, using key performance indicators, developing ‘how to’ manuals, team building and leadership. For Cheryl Sawyers - managing director of popular Kingston eatery, Sweetwood Jerk Joint, the latter was her biggest take away. “My personal banker Cheryl Sawyers called me and suggested my business could benefit from the workshops. I came blindly into it. I was a little hesitant, at first, but I’m glad I was a part of this,” Sawyers shared. “I learnt that you must look out for the things that are important in running a business. For me, an important aspect of this is how to be a better leader and get your other team members involved, inspired and wanting to share your goals, all of which help grow the business.” For David Watkin, managing director of Western Alignment Centre, a car maintenance and wheel alignment and balancing company that serves the western section of the island, the NCB Group ActionCOACH Group Training Series was a godsend. Watkin, a 10-year customer of NCB, began his business in 2000. It now employs 10. “My business is ranked among the top alignment companies in Montego Bay. When I started, it was bright and booming. Since then, there has been a decline, but you don’t see it because you just think you’re good. But NCB realised that even though the business was good, it could be doing better. They pointed out that with improved management skills, I could get a lot more out of it,” Watkin said. This sentiment was shared by Marlene Chambers, another participant in the workshops. Her, challenge is simply to get the business operating optimally. Effective leadership, also, hit a chord with her. “This workshop made me realize I need to have greater focus. You know there are things to be done, but sometimes neglect, or, sometimes, work overload causes things to fall by the wayside.” Singing the same tune was Marlon Page, CEO of Marlon Pagan Chartered Accounts. The accountant whose dream of self-employment came to fruition only two years ago, agreed the training highlighted the need to focus, to assess whether what he’s doing is in fact successful. Quoting his coach Woon Choy, he said, “direction is more important than speed”. “NCB must be congratulated for this series. It’s better than a degree, better than an MBA, better than a Master’s, even a doctorate, because it directly impacts lives positively,” he said. Already, Watkin is seeing this impact and anticipates a turnaround in his bottom line. Smiling confidently, he said: “The first change has already happened. Me. Every business is a reflection of its owner. What the workshop has shown me is the need to become more efficient, and in the process, get paid for my efforts. If I improve myself, improve my practices, my business will improve. “I really thank NCB for giving me this opportunity. It’s a win-win. My improvement will make a difference certainly in their bottom line, too.” The series ended earlier this month with participants invigorated and in high spirits about the success and overall quality of the workshops as well as the potential for improved efficiencies and profits for their businesses. The next cohort for the NCB Group ActionCOACH Training is scheduled to begin mid-February.
