‘It’s not how many ideas you have, it’s how many ideas you can get to work.’
That’s the idiom prescribed by business expert Kenneth Harvey of Caribbean Development Bank for the concept of business modelling – a fresh but ‘not so new’ approach to conceptualising, planning and executing a business idea.
Mr. Harvey will be in Cayman this month to facilitate a week-long conference for local entrepreneurs at the Westin Casuarina Resort, 18-22 February. The conference is titled Business Modeling – Thinking outside the box.
‘The foundation of business modelling encourages the entrepreneur to think outside the box,’ Mr. Harvey says. ‘Having a clearly defined business model allows the entrepreneur to know where their business is going and how it will get there, even before action is required.’
Sponsored by The Cayman Islands Investment Bureau, the conference is open to anyone who currently owns or intends to start a new business in Cayman.
Pre-registration is now open through the CIIB and is CI$50 for the entire week. Registration deadline is 8 February.
‘The response to Mr. Harvey’s presentations during the Small Business Conference last October was tremendous so we’ve answered the call to bring him back for more training,’ commented CIIB Executive Director Dax Basdeo in a press release. ‘It’s our goal to ensure that Cayman entrepreneurs have access to some of the best business advisors locally and internationally, especially those who can provide a Caribbean and global perspective on business development.’
Held from 9am to 4pm daily, the conference will be delivered through lectures, case studies and group assignments, and will be conducted in an easy-to-understand format.
The general subject areas to be covered will include: understanding how a business works; identifying the initial business idea and refining it to become the core business idea; identifying the market niche; confirming the market demand/potential; enhancement of the business model; review of various business models; financial tools used in business management; costing techniques; getting started; applied marketing techniques; and evaluating the performance of your business.
There will also be multiple exercises in building your own business model.
To register call the Investment Bureau on 945-0943 or visit the CIIB office on the first floor of Cayman Corporate Centre on Hospital Road in George Town. You can also email [email protected]. Registration deadline is Friday, 8 February.