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Without a spooky castle, lightning powered machines or pitchfork wielding villagers, Mark Thompson is creating a monster. Mr. Thompson took over the reins of the then newly re-branded Advantage General Insurance company in 2007, having had stellar performances at Cable & Wireless Jamaica, World Gaming and other compa-nies. Having inherited a company with a reputation for slow settlement times and a 2006 loss of over $120 million, Thompson has succeeded in overhauling the image of AGI. Annual reports for 2007 and 2008 showed that AGI had netted profits of over $343 mil-lion and $562 million respectively and performance charts showed that settlement times and outstanding claims had been reduced substantially.

Mark ThoMpson on running a busi-ness: “When I get into a business, I look at the fac-tors that make the business kick, I look at the key

performance indicators of the industry and the suc-cess factors of the business. The key is then to man-age towards those targets, I’m a performance driven manager and that’s the best way especially if one is not from a particular industry.”

With a leadership style that he describes as “demand-ing but not overly so” Thompson has gotten AGI to a

point where it might be at hazard of becoming a vic-tim of its own success. Regarding the slight controver-sy surrounding the speedy settlement of a claim by a client, Mr. Thompson remarked, “There was this one guy that was in the paper, livid about that situation and when I checked on his claim his claim had been settled in little under twenty days. This is an indicator of the high standards that we have set for ourselves”

Mark ThoMpson on personal finance: “It’s all about discipline, whether you have an under-standing of the mar-ket or not, it comes down to setting per-sonal goals and mak-ing sure you stay fo-cused on these.” Mr. Thompson is firmly committed to keeping AGI at the top of the heap with regard to motor insurance and performing creditably in other areas. “We are constantly look-ing to improve our service in ways such that it appreciates our clients’ time, states Mr. Thompson, “If there is a small broker some-where in Sav-la-mar, I will make a trip just to see how well the rela-tionship is working because every single one matters. Further, it is critical to respect your source of business no matter the size”.

Mark ThoMpson on life afTer The re-cession: “I think that you will find that those who had managed their finances carefully before the recession are the ones that can take advantage of opportunities during and thus will fare better after-wards.

When asked about the differences in the business landscape in the first world and in Jamaica, Thomp-son stated that main difference was the entrepreneur-ial spirit. “You find that from the higglers to the busi-ness execs with an enterprise on the side, everyone wants to own something. In Canada, it’s much more compartmentalized; you find people choosing either to be corporate or an entrepreneur.” B

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Mark Thompsondriven by performance

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Mark Thompson, president & ceo of advantage general

www.advantagegeneral.com


There was once a world made up of coun-tries divided by borders, geographical di-vides, mistrust and ambition. These countries produced for themselves, traded within themselves and very rarely had much economic contact with oth-er countries outside of their immediate reach. Over time, the need of the inhabitants to connect and share with each other began to overcome these hurdles and thus globalization was born. With technology and in-novation new markets were opened, new ways of do-ing business evolved, countries thrived and all was well within the world. Or was it?

Storytelling aside, our world has undoubtedly be-come a much smaller place. Products are consumed thousands of miles from where they are consumed, companies are constructed of various sections situ-ated in different countries and the common man is much more exposed to what lies outside his borders than ever before. Globalization primarily denotes a fiscal term but its impact now extends to all aspects of our lives, socially, politically and psychologically. The costs of this process have begun to manifest and the

main question being asked is, “Is it worth the cost?”In a July article by a Jamaican newspaper, it was reported that a major fresh fish producer had been forced to close its processing facilities. Reasons given for the closure by the owner were that of delinquency by clients and competition from significantly cheaper imports from China. This example is one that is mir-rored around the world where small producers are outcompeted because their cost of produc-tion cannot rival those of large corporations abroad. The case of the fish farm in Jamai-ca is unfortunate but it might be an inevitable consequence of the philosophy of open free markets.

Author and activist Michael Pollan wrote, “The iron law of competitive ad-vantage states that if another country can grow something more efficiently…we will no longer grow it here, what’s more under global economic dispensation...it will free land for more productive uses such as houses.” Pollan was speaking with reference to the United States but his point still holds relevance else-where. Do we in developing countries have to pick our battles more carefully, conceding ground in one instance while making up in others? If we can’t com-pete with food production the onus may be upon us to develop industries in which we are competitive. Far easier said than done, but a change in mindset may be the easiest step that we will have to take.

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Globalization: The local effect

The HSBC is the largest bank in the world and op-erates across the globe.


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in this increasingly paperless world, the ma-jority of marketing collateral and business presentations consist of digital document. From your latest PowerPoint masterpiece to a flashy interactive website, electronic media can be quick, easy, and visually stunning. There is no denying the advantages of electronic media.However, due to these strengths it is likely your mes-sage will be forgotten. Your clients will want and need a permanent reminder of your message. Offer them the presence and physical cache of a slickly designed brochure.

1) a brochure is TangibleMade only of simple paper or basic card stock, a brochure is a tangible object that your clients will hold

on to and keep. This is especially important if you offer a service that is abstract or industry specific. A brochure will give you a prime opportunity to explain your services and will allow your client time to absorb the finer points of your proposition.

2) a brochure is iMpressiveTraditionally the costs of designing and printing a brochure kept all but the biggest companies from

producing a printed brochure. Fortunately, with the ease and efficiency of online design and printing, the cost has significantly fallen. Take advantage of this development, and present your small business as a juggernaut. Underscore to your clients that you know the value of professionally designed and printed col-lateral.

3) a bro-chure is siMpleWith the alpha-bet soup of file formats (PDF, DOC, PPT, HTML) the last thing you want to do is con-fuse a potential client. Don’t force them to take a training course in computer science just to read your pitch, give them a prepared hard copy. Not only will your client’s ap-preciate this, but also your message will be20clearer without the noise of unwanted technical questions.

4) a brochure is TiMelessToday’s cutting edge web presentation will be passé and outdated in a matter of months. Rapid shifts in technology can make your slick electronic collateral dated and obsolete overnight. Don’t waste time and money chasing the next big thing. Invest in a bro-chure, a time tested and proven medium.A brochure with a classic design will stand the test of time. Easily portable, and simply stored, a brochure will always remain not only on someone’s desk but also in their mind.

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Why Brochures Still Matterin a Paperless World

Provided by Gail’s Graphic Designs


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( (Based in New York, Gail’s Graphic Designs offers a broad spectrum of creative design and communication solutions to assist in the marketing of your small business. Con-tact Gail Lewis at [email protected] or visit Gail’s Graphic Designs at www.gailsdtp.com. | Daniel natale is a guest writer for Gail’s Graphic Designs.

http://gailsdtp.com/


Question: I want to start saving towards buying my own home in five years time. I don’t know anything about purchasing real estate, so I need some guidance to make the right decisions.

Answer: Owning your own home is a big step, and you have to plan wisely to achieve this goal. Here are ten smart tips to help you turn your home ownership dream into reality:

1. Find out how much house you can afford. Check with the National Housing Trust and the mortgage companies to determine the loan amount that you qualify for based on your income. Decide if you need to partner with someone to be able to secure the money you will need to borrow.

2. Save aggressively for the deposit. Sacrifice spending to build up the down payment, which is usually 10-15% of the property value. The more you can afford to put down, the lower your mortgage payments will be. You will also need extra funds for the other transactions costs.

3. Work out all the costs. You need to be aware of the money you’ll have to spend, such as the down payment, closing costs, professional fees, relocating and recurring expenses. Email [email protected] for a real estate calculator and home buying checklist.

4. Choose your mortgage financier. Call the dif-ferent mortgage companies to compare rates and fees. Some institutions have additional costs such as compulsory savings that can drive up the monthly repayment amount.

5. Obtain a mortgage pre-approval. Once you have chosen your mortgage company, get pre-approved for the amount you can afford. This will make your offer more attractive to the vendor, and speed up the transaction process.

6. Search for a good location. Use expert realtors and word of mouth networking to help you find a suitable home. Speak to the neighbours and visit the location at odd hours to observe the activity. Con-sider traffic and convenience to amenities such as supermarkets and schools.

7. Don’t aim for the dream house at first. Stick with what your budget can afford right now. Remember that you can always upgrade your home, or sell and buy a better property in the future.

8. Get the property inspected. It’s better to pay for an independent assessment of the condition of the home before you commit to it, than spend a small fortune in repairs after you’ve paid for it.

9. Ask for referrals to find the right attorney. Real estate agreements can sometimes be complex, so you should find a knowledgeable lawyer that you can trust. Don’t be afraid to ask for discounted rates.

10. Be patient. Real estate transactions in Jamai-ca can take several months to be completed. Fol-low up once per week with your lawyer for progress reports.

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10 Smart Steps to: Buying your own home

Provided by: Financially S.M.A.R.T. Services

Financially S.M.A.R.T. Services is Ja-maica’s number one source for prac-tical, down-to-earth and independent answers for all questions relating to personal finance. Get more money smart advice at www.financiallysmar-tonline.com. Email [email protected] with comments or questions.

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Managing DirectorTyrone Wilson

Your Money reportersAndre’ Burnett

Ryan BlakeKenartur Mitchell Jr.Latoya Hutchinson

columnistGail’s Graphics Design

Financially S.M.A.R.T Services

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