Its May 2018 and this is our first blog in a while but so many things have happened. We realized that entrepreneurs hardly take vacations and that of course is bad for our overall health so in December 2017, our owner took vacation and the business was closed for two weeks. Our finding was that sales increased in our two weeks window of doing business for that month.
Secondly, we recognized that entrepreneurship is not the easy way out. The business owner is pressed to set and review targets to continue to grow the business. One demand is that other businesses and entities are always calling with invitation to other events, training etc. The offers can sound really good but if the entrepreneur is not careful, they could be on the road more than they are in their business and that of course is a recipe for production disaster.
Thirdly, efficiency is very important and a critical ingredient for efficiency is cash flow. So many small business have cash flow problems and this affects production and also affects relationships with clients and customers. Another critical element of operating a business is managing credit, by this I mean, customers who want the product but want to pay at the end of the month. A number of small business start with offering this line of credit but find that as they grow, its the same line of credit that can cripple the business.
If you are a small business operator, you maybe nodding your head in agreement and if not,you may now understand some of the challenges of operating a business. However, my recommendation is never be daunted to follow your dreams for if we think like athletes, the greater the challenge, the more practice that is needed to make it perfect.
Until the next blog, pursue your dreams and reap excellence.