Three Feet from Gold – Temporary Defeat

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At some point in our lives, well laid out plans could go burst without really knowing what actually went wrong.

Weak or shoddy plans could be reasons for failure. Overwhelming challenges laced up with little persevering power to match could be capable of ruining the whole idea entirely.

It’s not cool failing at all – but certain degree of failure awaits sooner or later. There will always be valuable lessons tucked in our disappointing experiences. Continue reading “Three Feet from Gold – Temporary Defeat”

Why You Should Limit Credit Sales to Your Customers at this Time

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Most businesses sell on credit in anticipation for payment at an agreed future date.

Selling on credit appears to be one of the practical ways of gaining access into a market especially when your business is relatively new.  Most start-ups adopt this sales practice to exploit a niche and build a reputation like the big players Continue reading “Why You Should Limit Credit Sales to Your Customers at this Time”

3 Operational Leakages Your Employees May Not Disclose to You

3 Things employees wont tell
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When reports on low sales figure and rising expense tickets become the only report that gets to your table daily, it’s time to keep aside the boss-subordinate relationship and start asking questions. Continue reading “3 Operational Leakages Your Employees May Not Disclose to You”

Dealing With Defaulting Customers

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Photo: nationaldebtrelief.com

Invoices going past due date without any financial commitment from your customer can be frustrating. It even hurts when your customer starts to play pranks on you. You’ve done your due diligence on the customer and have rated him as credit worthy, overtime he starts to default.

Delay in collection is an ordeal every small business owner must learn to deal with. Being able to bootstrap at this time is what makes the journey as an entrepreneur challenging but rewarding. Activate your sixth sense, use every possible tactics to recover your money in this situation.

Delayed payments have led to deteriorating business relationships, fights, lawsuits, confiscation of property, violence and other vices and inconveniences.

This is not a good position to be as your reputation could be marred in the process.These few tips could help put your acts together in your effort to get paid. Continue reading “Dealing With Defaulting Customers”

5 Things to Consider Before Issuing Your First Invoice

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As a new business starting out, you’re optimistic that your products will interest buyers who would part with money for a job well done. Your business model may also permit services to be rendered first before invoices are settled.   Continue reading “5 Things to Consider Before Issuing Your First Invoice”

7 Perils of Risk Avoidance

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Most times fear holds us back from taking that first step. We often feel we don’t have what it takes to arrive at the success we desire. Living life daily comes with certain risks that we have no control over; some of these risks arise as we go about our daily lives.
It’s worrisome to be on your toes all the time, but what can one do? Continue reading “7 Perils of Risk Avoidance”

Managing Reputation Risk

Reputation Management Concept on the Mechanism of Metal Cogwheels.
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The quest to outwit the competitor for market share and dominance has its price, it seems we forget that footprints are left in the paths we’ve once walked in. Most of the time our actions influences those that we don’t have contact with or may never meet. Business leaders with guerrilla mind set may probably disagree. Continue reading “Managing Reputation Risk”