"I
did not develop ideas for innovation because I had choices. I developed
them because I had no choice," said President of Bahamas Striping Group
of Companies, Atario Mitchell in kicking off his speech to the Bahamas
Chamber of Commerce Conclave held under the theme, "Ideas and
Innovation: Making The Bahamas A More Competitive Region.”
With
a $5,000 government grant Mr Mitchell started a road striping company
which in five shorts years has ballooned into a group encompassing four
distinct lines of business: road striping, airport maintenance, pavement
rejuvenation and the sale of environmentally friendly asphalt repair
products.
The entrepreneur was invited to speak
to the conclave Wednesday on how ideas and innovation powered the
success of Bahamas Striping, Airport Maintenance Services Ltd. and
Caribbean Pavement Solutions.
In 2010, the
over-riding problem plaguing Mr Mitchell's small business was one faced
by many entrepreneurs today – he had a big idea with no money.
"I
applied for a Self-Starter grant and became a successful recipient
qualifying for the grant of $5,000. While this appeared to be the
beginning of my success (from outsiders looking in), it became the
beginning of my challenges," he said.
"You see, the first small striping machine that I needed cost $17,000 landed, so I came into the race $12,000 short."
It was one of many engaging personal stories he shared which resonated with the audience.
"Coming
out of the starting block with challenges taught me how to survive, I
not only had to think outside the box, I had to get out of that the box
entirely and stop looking at what I did not have and start looking at
what I had," he said.
It's that sort of
unconventional thinking which led him to land one of his first big jobs,
partnering with a Florida-based company to provide striping services
during Phase I of construction at the Lynden Pindling International
Airport (LPIA).
It was then the young
entrepreneur received his 'a-ha' moment – a defining time when things
change and the winds of fortune began to blow in his favor.
"I
made a deal with them that in lieu of payment, all of the equipment and
materials that they brought in would be exchanged for my labor," Mr
Mitchell shared.
"That company agreed and as a
result of the completion of Phase I of the LPIA, I not only ended up
with over $100,000 in equipment and supplies, I and my staff received
valuable training and experience."
Creativity
is not always about seeing what other see, said Mr Mitchell, rather,
it's looking at things in a newer and different way.
Still,
Mr Mitchell said its patently obvious that The Bahamas needs to provide
more funding to small and medium size enterprises (SMEs).
"We
must stimulate the creativity of a new generation of Bahamian
entrepreneurs," he stressed. "We must create small business incubators
and micro-loan programs that will draw out creativity and allow
opportunities for the next generation of Bahamian millionaires to
emerge."
Towards that end the company's goal is
to begin manufacturing its Bond-X Green in Grand Bahama for domestic
use and export throughout the Caribbean by the end of this year. The
product is an environmentally friendly cold patch used in asphalt
repair.
"Once the manufacturing plant is in
full gear, we will move away from installing the product thereby
creating ownership opportunities for persons to become certified
installers," said Mr Mitchell in outlining his corporate expansion
plans.
"We will work with the Bahamas Venture
Fund in helping young Bahamians [to] access funding and we will provide a
turn-key start up package including training and technical support to
bring about these new economic opportunities."
He
continued: "This initiative will no doubt expand manufacturing in the
country, open up new ownership opportunities, save the government money
while delivering an environmentally-friendly product. This ladies and
gentlemen is innovation at work."
To date, the
company supplies the Nassau Airport Development Company, Water &
Sewerage and many Family Islands with its asphalt repair product line.
