Dennise Williams

Contributor

While building a career as an investment banker, Dino Hinds decided that the very best investment banker not only traded stocks and bonds, but also traded businesses.  Having cut his teeth at Mayberry Investments Limited (MIL) during the nascent days of the Junior Stock Market, Hinds decided in 2013 to charta path that would become a group of companies called Micro Financing Solutions (MFS).  The vision was simple.  Create a portfolio of unrealted businesses that would ensure that cash would always be flowing regardless of the performance of one single entity. Fast forward to 2017 and MFS, with its various firms, has exceeded the J$50 million in asset value required to list on the Junior Stock Market.

And so, a man who carved a reputation as a bond trader is now overseeing a micro finance firm, two hair salons, a hardware, and chemical manufacturing and distribution company.  Hinds, explains why.  “The quick answer is diversification.  As a private equity firm, we are always looking for opportunities in dynamic and fast growing sectors.  These companies are providing goods and services that meet the everyday needs of Jamaicans.  They are also in sectors that currently poised for growth.”

That said, the build out of MFS did not happen over night or on smooth sailing.  Hinds tells the story that in early 2014 when he just left corporate Jamaica, he still had the habit of wearing long sleeves and a neck tie.  In a sweltering day, while delivering chemicals to a client he then pondered going back into the AC office of his former employer.  Yet, despite the goal of listng the company on the Jamaica STock Exchange (JSE) Hinds is modest in his view of where the MFS company is today. “ We are far from a conglomerate, we have quite some ways to go to get to that level.  We have had a three year period where we have grown quite nicely but we expect our growth rate to increase significantly over the next 3 years.”

And this growth is based on people over profits.  Hinds states, “ We try to always operate in a manner where we let our team members know that they are an important part of the organization and its success.  We encourage everyone to give their opinion and we put a lot of emphasis on learning and growth.”  Hinds continues, “We have grown from a small family business to where we currently employ over 70 staff members across all the companies.  We try to always provide employment for individuals within the communities which we operate.”

And one of the employees happens to be Tamar Hinds, his wife.  And Hinds credits her involvement for the ability to balance his life and business. “Having someone you can trust and who is also invested in the growth and success of the business has greatly assisted me in achieving what I have so far.  There are challenges but the upsides greatly outweigh the downsides.”

In regards to his strategy to stay motivated and coping with the ups and downs of business, Hinds explains, “My motivation comes from the fact that I am trying to build something much bigger than me.  Building a strong company that my family, my staff members, their family can benefit from is what drives me.  I also enjoy what I do, so it is easy to stay focused.”

Now many small businesses close down due to cash flow issues. In regards to what advise Hinds would give to persons who are starting a business in terms of managing their money, he states, “It is very important in business to do a proper 3 year forecasting of the expected performance of the company.  This forecast should also be very conservative.  This means you will have a good idea of the working capital needed to fund your operations during the earliest and riskiest part of being in business. It is very hard to borrow funds at this stage of the company’s development also.  It might therefore be necessary to take on family and friends as early investors at this stage.”

And for the future of the MFS Group, Hinds shares, “As a group we are looking to put ourselves in a position to experience very rapid growth over the next 3 years.  We believe that we have a team that is among the best in Jamaica and we are looking to be the leading private equity firm in the Caribbean in 3 years.”