Staying Positive Under Negative Economic Circumstances

 

 

 

August 27  2013 l ndbs   By: Ndzavi Derrick Hlungwani 
   

Petrol price is going up and up and up, GDP figures are declining, Inflation is rising,  Most companies are closing down due to financial constraints, Operating costs are swallowing the profit every month.  These things have a potential of rising the blood pressure especially if you are a business owner caught in this economic turmoil.  Resilience and determination is needed coupled with positive attitude in order to sail through the turmoil.

Admit that you are facing challenges

Many entrepreneurs do not want to accept that they are faced with difficulties in their businesses because they don’t want people to laugh at them or see them struggling, instead of admitting that they are faced with challenges they want to act and spend as if everything is normal.  Once you admit the situation you take the next step.

Down scale your expenses

You used to shop until you drop without even checking the price, but current conditions do not allow you to continue that way therefore you need to draw a budget and spend within your means.  The situation won’t stay as it is since this is a world wide phenomenon, when things change for better you will then go back to your luxury life since there is nothing wrong with that as long you can afford it.  Down scaling also mean changing children school especially if you realize you were struggling to pay the fees the previous year.  If you were renting the big apartment you might consider moving to the one that you can afford.

Don’t stone your debtors

Be careful how you treat your clients because the business is slow due to them not having the buying power they used to have.  Don’t scream and throw your hands and threaten them, yes there are those who will take advantage of the situation but there are those who might have lost their job.  Be there for them and support them emotionally than adding more stress in their lives by phoning non stop. 

Negotiate with your Creditors

Do not wait for your creditors to call you first, if you know you have skipped the payment do the honours and call them and apologise for not having made the payment and make arrangement.  Show willingness to pay than trying to avoid their calls.

Don’t loose Hope, help is on the way

The moment you start complaining about the conditions to your clients and start telling them that they should pay you because your child has been expelled from school then you are starting to crack.  If you believe in God like I do this is the time to look up to Him and have faith in Him and He will see you through.  

 

 


Be A Sales Rep Not A Beggar

July 29  2013 l ndbs   By: Ndzavi Derrick Hlungwani 
   

"Thank you thank you thank you mcwaaaaaa! I owe you a lot”, that is the expression you get from a desperate sales Representative after getting a business from a client.  Those are the expressions that make the buyer wonder if they were the only client the sales representative had.  You are a Sales Rep representing a company with values and you need to do things according to the set values and standards set by the company than become a beggar to clients.   

Read Full Article

...

The First 100 Days In Your Business

First 100 days are crucial for any head of state as that is the time to get settled in the office amidst all the hype and the excitement of having won the elections.  That is when the head of state appoint the cabinet, meet different Director Generals who have been serving in the previous term, handing of olive branch to opposition, chopping and changing.  Read Full Article 
...

Work From Home Without Taking Your Work Home 

Working from home has been associated with clients not trusting your delivery ability and your business efficiency.  That was acceptable years back where a landline would be a proof that you have an office and your business is reliable.  Today we are living in the integrated society where communication has been made simply through ICT.   Read Full Article

...

Personal Ingredients Entrepreneur Should Have

In life everything has a source and components that comprise of that particular thing.  And for one to understand the use and the conditions that particular item should be exposed to one has to have an understanding of what it is made of.  Read Full Article

...

5 Keys To Creating Staff Precision And Harmonious Work Environment

You have hired the best team to work for you, but is your team the best combination to work harmoniously together?  Any person’s best is dependent on joint force as it takes a team to get the job done than one person.  Read Full Article

...

Dump New Year Resolutions, Stick To Daily Routine

We are in that time of the year where diaries and notebooks are prepared to have their first inscription in bold “NEW YEAR RESOLUTION”.  Come year end few or none of these resolutions are accomplished yet there will be no note at the bottom saying “ABORTED RESOLUTIONS” or “CARRY OVER TO NEW YEAR”, Read Full Article

...

Who Stole The Cookie From The Cookie Jar?

"Lerato stole the cookie from the cookie jar. Who? Me? Yes you. Couldn’t be.  Then who stole the  cookie from the cookie jar?  Nkateko stole the cookie from the cookie jar. Who? Me? Yes you. Couldn’t be.  Then who stole the cookie from the cookie jar?  Derrick stole the cookie from the cookie jar. Who? Me? Yes you.  Couldn’t be.” Read Full article

...

HARNESS Your Idea, No One Will

It is very exciting to wake up in the morning and have this business idea lingering in your mind.  You grab a pen and start writing as you feel that by the time you open the laptop or tablet the idea will have evaporated. Read Full Article

 

 

 

Are you looking for the best web hosting? Be a smart buyer and read hosting reviews before choosing a suitable host.

      New DiscoveryBS (Pty) Ltd ©2011-2015  Terms Of Usel NewsBrand Engage l Advisory-Mentorship l Events l NDBS Services l NDBS FAQs l Contact Us l back to top button

                                                                                                                               Content Management and Designs Proudly Done Inhouse By: New DiscoveryBS

 

             

Joomla Themes designed by Joomla Hosting Reviews