Welcome to the BEDC corner; here, you will get a chance to meet the dedicated members of our team and Board. We will share our thoughts on entrepreneurship and what it means to provide support and help you build your dreams.
This month we feature Craig Tyrrell, BEDC Board Member.
- What excites you about entrepreneurship?
Ownership and creativity! Being an entrepreneur gives me the opportunity to create and develop an idea the way I want. It gives me the flexibility to shift or pivot without the need for layers of permissions from a Board or upper management. Providing a product or service that I think solves a problem for someone is an awesome feeling and being able to monetize that is icing on the cake.
- What advice would you give to someone who is trying to become an entrepreneur?
ACT! My grandfather used to tell me that there are billions of great product and service ideas in the cemetery because people had great ideas but did not act on them. If you have an idea, test it out amongst your friends and family. See if it is something that others would be interested in using. Do some research and see if the idea exists already. See if there is capacity for you in the market place and find a way to tweak your idea so that there is something a little different or special that will attract customers. Sometimes people don’t know that they have a problem that needs to be solved until you show them a solution.
- What is your role at BEDC?
I currently sit on the Board of Directors and have been assigned to the Communications and Development sub-committee. As the name suggests the committee deals with projects related to assisting entrepreneurs develop their ideas, products and services by providing space in incubator programs, online marketplaces and events such as the Rocket Pitch and Entrepreneur awards.
- What is the best part about being a member of the BEDC team?
Being a part of the Board has given me the opportunity to take part in a number of initiatives that have helped me in my own business ventures. The team is made up of a number of dynamic individuals who are all keen to promote entrepreneurship and that environment stimulates learning and growth. I have also been able to share information with my family of entrepreneurs. My oldest daughter, Cimeon, is a self-employed photographer (Cimeontography), my younger sister, Nekisha, recently launched a line of skin care products locally and overseas (Enzuri Beauty) and my older sister, Teena, lives in the UK and produces a line of herbal products (Masani Ajua Organics).
- What role does entrepreneurship play in the future of Bermuda?
Small businesses are the key to any economy. The entrepreneur mentality of owning and developing an idea and then monetizing it is critical to developing a community of entrepreneurs. This should be a fundamental objective for Bermuda which would mean adding this to the education curriculum to introduce students to the idea of ownership over employment at a young age.
- What trends have you noticed emerging within Bermuda’s Entrepreneurial Landscape?
It appears that there are a number of younger people making the decision to develop their ideas into business opportunities and thus creating their own futures, separate from the traditional lines of employment. There also appears to be more females making this move. It bodes well for the future, as the landscape will be more diverse. Bermudian entrepreneurs are also taking advantage of technology which has shrunk the world and are scaling their businesses to other countries. No longer satisfied with the Mom and Pop corner store idea, Bermudian entrepreneurs are competing on the global market, and this is a very good thing!