New York: Lowell Hawthorne, CEO and founder of Golden Krust Bakery & Grill, who built a successful Caribbean business empire that encompasses over 120 franchises in 9 states in the USA, emphasized the importance of a solid business plan for entrepreneurs looking to start their own businesses and achieving financial wealth. Hawthorne comments came as he addressed enthusiastic listeners at the fifth Annual CIN Lecture Series at The Schomburg Center for Research in Black Culture in Harlem, NY.

"It is important for you to lay out all aspects of the business. The plan will not only assist you in streamlining your business but will help you keep your eye on your goals and on your vision as well as setting out ways to accomplish them" he noted. 

Highlighting the importance to know and analyze the competition he said, "Customers seek out great products and service. It is therefore important for you to know your competition, what they are offering and what gives your product or service the edge over your competitors." 

Giving examples of entrepreneurs who have established successful business models, he sited John Bogle, founder of Vanguard Mutual Funds, the second largest Mutual Fund company in the world that was started after he was fired from what he felt was a secure company; Gordon 'Butch' Stewart, Jamaica's first internationally recognizes business superstar, he said used his life savings to purchase a run down beach property that became the flagship for one of the world's best all-inclusive chain (Sandals) while Michael Lee Chin, head of the AIC Group was on his 9-5 job in a college Pub trying to make ends meet when the businessman bug bit him. 
"The lesson to be learned from their success is this - grasp opportunities when they present themselves! Don't be daunted. Seize the moment" he said.

In closing, Hawthorne urged would be entrepreneurs to adopt the philosophy of 'yes we can' that was re-inspired by President-elect Barack Obama. 

"When the bank rejects your loan application...say yes we can. When your idea take you into uncharted water...when fear of the unknown threatens to squash your great business idea, say yes we can!" he reiterated. 

Stephen Hill, CEO of Caribbean International Network (CIN TV) who delivered the vote of thanks, announced that he was currently in talks with FIOS provider Verizon to have CIN programs broadcast on that platform - a move that would extent CIN's reach nationally.  

Among the dignitaries who attended were Geneive Brown Metzger, Consul General of Jamaica; Howard Dodson, CEO, Schomburg Center; Bob Gore, CIN NY and Mr. Jose Richards, president & CEO of the Sons and Daughters of Jamaica.