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Knock Yourself Off Debts Wagon

November 30 2014 l ndbs  

Getting in debts then pay someone to administer your way out is like kidnapping yourself and pay someone ransom to be freed. Most people realize they are in debt the moment they need something and can’t afford due to other financial commitment, and instead of paying off what they have committed in they start to see crisis in the situation.  One has to ask a question “Did I make mistake by committing my money to that?” and if answer is no keep paying without pressure.  

Buy Quality to avoid replacement

No one chooses to go debts way but circumstances may compel you to do so, Imagine having bought a brand new TV set and suddenly goes off and you have to replace it, because of the price you paid for it there is no warranty and no guarantee, you will find yourself taking another one on credit at the time that you were not ready to do so.  Quality can last you longer and you can use your money for other things until such time that you feel you want to change without pressure of life without TV.  If it is not broken, you can decide to replace or keep using.

Buy legitimate stuff

If you buy something illegally from company employee you might not be able to return it should it give you problems.  To repair that item can cost you more as you cannot take it through warranty without a receipt proving that you bought it from authorized dealers or retailers.  If you are over indebted to afford what you want, pay off your debts and have self discipline until you are financially stable.

Save for future purchase

One of our mentees called and asked which car to choose from between brand new Toyota Legend and Ford Ranger.  My advice was “You are not married yet and this is your first job, you have no house. Get yourself a second hand car that you will pay half of the installment you want to pay for that brand new car and save the other half in an investment account for five years, after that period you then keep your car and withdraw the money then you can pay deposit for brand new car.  With your new car you will continue to pay half the installment since you will have paid high deposit”.  He went quiet on me, and after three years he called me to check if he can reduce number of years as he already accumulated enough to buy brand new car and I told him “24 months to go”.    There are many options to choose when saving but this one worked better for him, and other options can work better for you depending on the advice you can get from your advisor.

Do not rob your future to pay your present

Being in debts can tempt you to resign and cash in your provident funds or any savings in order to pay off your debts with hope that you will find another job and start again, but bear in mind that there is no job that is waiting for you. And even if you find another job your decision will affect you when you have to retire and live on pension grant without extra income from savings.  The same applies when one own a business as the danger is where one takes company savings with hope to get more business and unfortunately the business goes down leaving one with no ability to build up on the savings.   And this leads to many living on social grant when in their times they were making good profit in the business but failed to save. 

Pay off your debts, not because you want to have bigger account or there is something putting pressure on you, let it be as per your plan and goal in life, that way you will not need debt rescue team to bail you out.

Derrick is a Certified Business Advisor   (IBA Member)

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Your Business Needs Medical Attention Too

October 30 2014 l ndbs  


As humans we are quick to seek medical help should we not feel well in our bodies and at times it does not matter how much we pay for the services as long we get help, yet we fail to do the same when our businesses are unwell, instead of seeking help from experts and consultants, we try to fix things by ourselves until the business collapse and we are unable to resuscitate it back to life.  The following are steps that will help getting your business healthy:

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Get Your Business Off The Ledge

September 30 2014 l ndbs  

Every business does experience dry season and rainy season, there are times where it soars like an eagle, and comes a time where it hides like a bat waiting for night time.  It becomes dangerous when it get on the ledge and leave the owner with two options: To jump and crush or hold back for rescue.  When faced with that situation the following can help get on your feet again:

Demand To Speak To A Negotiator

You might have made calculations and nothing seems to make sense except to close down, but before you do look for second opinion.  Be open with the consultant you will speak to as to what led to the situation, the consultant may not have all the answers but will assist in finding a solution that may not lead to closing down your business, Negotiator can call paramedics and fire men to come with cushions so that if you jump you do not land on the hard ground. 

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Is Cash Still King In Business?

August 29 2014 l ndbs  

The old adage that Cash Is King still has meaning in today’s business world.  Employees are paid through cash, Service providers need to be paid cash, creditors are paid cash.  Any company that has its cash withheld by its debtors such company may struggle to meet its financial obligations. 

It is  obligatory for a company to make sure there are funds available for smooth operations and any continuance in giving out credit without proper monitoring can lead to collapse which may trigger bankruptcy.  However, not all clients can have cash at their disposal to pay for the product, in such cases the measures must be in place to monitor the issuing of credit through:

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Dining With Captains 

July 31 2014 l ndbs  

Getting clients to buy your product or service takes talking and selling but to keep them takes character and respect.   The clients that you have they are also clients to others so they know all the tricks and the kind of game you play, and they can easily tell if you are trust worthy or not.  Some clients tolerate you when you lie not because they can’t change you for other providers but they see it as eye opener because they also do the same to their clients too.  No one wants a relationship with the clients that end with selling the product and nothing else until the next order.  But for you to always dine with your clients you need to take the following into consideration

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Curious Case Of Middle Class

June 24 2014 l ndbs  

The economy is structured in such a way that there must be employers and the employees. And it is the responsibility of employer to pay the employee for the services rendered or work done.  It is within  this circle where the  bourgeoisie have  found a dwelling place.  They also face a challenge whereby being in the middle means they must be paid salary to feed someone else or take care of house hold.  They are also a target of crime as they are the ones who are driving around with affordable cars and that lead them to seek security in the high walled estates.  

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Act Like Antrepreneur, live  like Entrepreneur

May 19 2014 l ndbs  

Ants are interesting insects and unlike lions that you have to find in the zoo, they are found in rural and urban areas.  They travel without boundaries and  work hard for their food no wonder they got special mention in the bible, Proverbs 6:5-6 ““Go to the ant, you sluggard! Consider her ways and be wise” .  In studying their lifestyle one discovered that there is much to learn from such a tiny creature than could learn from a lion.

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Advertising On Social Media For Results

April 28 2014 l ndbs  

Social media is a great platform for networking, business connection, family contact, friendship, dating that may lead to marriage or heartbreak, whatever the reason may be, the bottom line is any person who is on social media already know the purpose and intentions of being there.  How you behave to those you are connected with may make or break your business as you

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