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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. 

Inform Your Staff Than Firing Them

Many entrepreneurs when the company is going through distress the first casualty are their employees.  Don’t be quick to laying off your valuable assets who are the employees, have a discussion with them instead and keep them informed of what the company is faced with, find out together what might have gone wrong and jointly find a solution. Like in Hotel Rwanda movie, let them call for help to those they know can help.  Let the challenges glue you together than make you part ways.

Inform Your creditors Than Avoiding Their Calls

Creditors do not take excuses from clients, however, informing them of what you are faced with will take pressure off your shoulders of trying to come with different stories each time they call for their money.  Explain to them of your next action to get out of the situation you are faced with.  Your challenges become your Creditors’ challenge as they look up to you to buy their products and that will make them step forth and assist where they can than watch you jump off the ledge.

Inform The building Owners Than Run Away With Keys

If you are renting the place that you are operating your business from, inform the landlord about the challenges your business is facing and see if you can make arrangement to pay outstanding rental fees, running away will not help as that can be seen as negligence and affect your credibility going forward.  If you bought the building through the financial institute make them aware also.  If you have paid off the place there is municipality to make arrangement with as you are expected to pay rates and taxes.

Whatever the situation, do not give up nor give in.  You can still go off the ledge into place of safety than crushing down, but for you to do that you need to be open and willing to negotiate and be assisted in whichever way possible. 

     

  

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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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 The First 100 Days In Your Business

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