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By Rennie Parris Welcome back to Talking Dollars & Making Sense. Today, we’re unraveling the mysteries of the Balance Sheet—a fundamental financial statement that every entrepreneur should understand. Whether you’re starting out or looking to expand your business, grasping the Balance Sheet is crucial for making informed decisions. We’ll use real examples from Demerara Distillers […]
By Rennie Parris Welcome back to Talking Dollars & Making Sense. Today, we’re breaking down the Income Statement, a crucial financial document that tells the story of a business’s profitability over time. Whether you’re a season financial professional or a small business owner without a finance background, this column is designed for you. We’ll use […]
By Rennie Parris Welcome back to Talking Dollars & Making Sense. If you’re thinking about starting a business or already have one, understanding your financials is one of the most important things you can do. I consistently tell business owners, “if you don’t know your numbers, you don’t know your business.” Unfortunately, I know Guyanese […]
By Rennie Parris Welcome back to Talking Dollars & Making Sense. Today, we’re diving into the intricate process of product and service creation, focusing on key concepts like the Minimum Viable Product (MVP), the Zero to 1 sprint, A/B testing, and product management. These strategies are essential for bringing your idea to market and ensuring […]
By Rennie Parris Today, we’re diving into market analysis and crafting a robust marketing and sales strategy, specifically within the dynamic context of Guyana. Whether you’re an emerging entrepreneur or an established business owner, understanding your market and effectively reaching your customers are crucial steps towards sustainable success. Let’s unpack these concepts with examples from […]
By Rennie Parris Today, we’re going to explore how to craft a winning business plan. A solid business plan is your roadmap to success, outlining your strategy and the steps you need to grow your business. Let’s dive in, using Guyanese case studies to illustrate each part. Why a Business Plan Matters A business plan […]
By Rennie Parris Today, we’re exploring the steps to register your business in Guyana, whether you’re starting a sole proprietorship or a corporation. We’ll also cover the importance of becoming compliant with the Guyana Revenue Authority (GRA) and the National Insurance Scheme (NIS), and how the Small Business Bureau (SBB) can assist registered businesses. Understanding […]
By Rennie Parris In the second part of our series on transforming your business idea into a viable business, we’ll be focusing on creating a robust business model, which is crucial to understanding how your company creates, delivers, and captures value. Let’s dive in! Creating a Robust Business Model Creating a robust business model is […]
By Rennie Parris In this two-part series, we’ll dive deep into transforming your idea into a viable business within the context of Guyana. Whether you have a budding idea or are still searching for inspiration, this series will provide practical steps and local examples to guide you on your entrepreneurial journey. Part 1: Ideation and Market […]
By Rennie Parris Let’s get down to Talking Dollars & Making Sense. Today, we’re diving into the exciting world of entrepreneurship, exploring what it means to be an entrepreneur, the challenges of being an entrepreneur and what it takes to succeed. We’ll also take a closer look at some local businesses that illustrate the diverse […]
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