Thursday, April 18, 2019

A Wrong Belief That Almost Killed My Business

True or False?

 

Money is what you need to grow your business


I also thought that money is the solution to all my business problems. That kind of thinking? That was why we almost drowned in millions of pesos of utang.

You see, in business, and even in your own life, the lack of money is not the problem. It is just a symptom.

That is why having more money is not the solution. In fact, having more money becomes the poison that will kill your business faster.
 

What were my real problems?

Low sales, high expenses.


Why low sales?
  1. I was too busy to sell.
  2. My employees could not sell.
  3. I bought stuff that were not sellable.
There were many reasons.
Why high expenses?
Again many reasons, like…
  1. no budgeting
  2. borrowing too much, and
  3. paying exorbitant interest rates, etc.


Do you have problems with money?

Look at your sales and your expenses and determine the real problem. You will find that the problem is either you and/or your people.
 
Again, lack of cash is just a symptom. You’ve got to dig deeper.  Go for the root causes.
And, borrowing more without removing the root causes will kill your business, even faster.


The solution?

 

And remember, Grow Your People to Grow Your Business.

Please let me know what problems you’re having right now in your business.
Thank you in advance for taking the time to reply, fely. I really appreciate YOU for being part of this community.


 
️Love always,
Your Negosyo Mom

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