Loic Jasmin partnered up with three other like-minded twenty-something entrepreneurs to launch Jaco Transfer. Less than five years old, Jaco Transfer is creating lots and lots of buzz on the Haiti remittance market, and getting plenty of business.
The company’s take is to reach a younger demographic, apply nontraditional and grassroots marketing methods. One key strategy has been to offer food and non-food items, including hygiene products and electronics such as mobile phones as options. Jaco Transfer also dabbles with the fruits and vegetables market as a way to support Haiti’s farms and farmers, while also encouraging members of the population receiving these food remittances to be nutritionally-minded. Mindful of the reconstruction that has been taking place in Haiti since the earthquake hit the island in the early 2010s, and aware of the trend of Haiti born and non-Haiti-born members of the Dyaspora to return to and resettle in Haiti, Jaco Tranfer also offers construction materials among its product offerings.
For Jaco Tranfer CEO, the company has been one long life education course. Here he is sharing the lessons that the company’s CEO has learned across his entrepreneurship journey.
Kreyolicious: Entrepreneurship is a learning experience…full of lessons. If you were to round down these lessons to just five…tough lessons or otherwise…what would you say your journey so far as a businessman taught you?
Jaco Transfer: More often than not, your team is what makes or breaks your company. Having both founded companies with and without Co-Founders, I can say that you’re much more likely to succeed when you have a great team that works with you. I’m lucky to have what I think are some of the best and brightest to work with at Jaco. We fight against the largest, strongest corporations in the country every single day and are able to hold our ground thanks to our amazing team. My co-founders Stefan and Tariq are amazing guys both in and out of the office and work hard every day to make us reach our goals. You have to choose your team wisely! That’s my number one lesson learned.
Kreyolicious: Two…
Jaco Transfer: Don’t be afraid to share. As a first-time founder, it’s often excruciating to share equity. You want to keep 100% of the pie to yourself. I learned that business doesn’t work that way. You shouldn’t be afraid to give equity to investors, partners and employees who you think are valuable to your company! It’s better to own 10% of something amazing than 100% of nothing at all.
Kreyolicious: Three…
Jaco Transfer: Expect anything worthwhile to take a long time. One of my favorite quotes is: “It takes three years to blow up overnight”. I don’t know who originally said it, but I think it’s a fundamental truth in business and in life. You often hear success stories about overnight millionaires and things of that sort. Recently, there was even an article on one of my friends in Montreal who reached half a million in sales within 5 weeks of starting a business. What they didn’t say was that it was his seventh or eight business venture! So yeah, big things take time.
Above: Jasmin overseeing the training of a Jaco Transfer representative at the startup’s offices in Port-au-Prince.
Kreyolicious: Four…
Jaco Transfer: Don’t listen to people who say you can’t do it. Most of them haven’t tried. Few of them tried and failed, but you very well might succeed!
Kreyolicious: Five….
Jaco Transfer: Making money shouldn’t be your only goal, [but] don’t tell your investors. I think lots of people start off in business with only one goal: to make as much money as possible as fast as possible. I learned that money is just one of the things a business makes. Businesses can make a difference in the lives of the people they serve, of the community in which they operate and of their employees. They can give you a platform to push your ideas and express your creativity. Make sure you’re passionate about what you’re doing, not just the profits it could bring!
This concludes PART III of the interview with Mr. Jasmin of Jaco Transfer. Be sure to CHECK OUT PART I and PART II of the Kreyolicious interview with him. Meanwhile, don’t keep your those relatives in Haiti waiting for that diri, pwa and somon!
CLICK HERE to visit the Jaco Transfer website! Use kreyolicious as your promocode and you will get 10% off your order. Hurry!
