Having no problems. Permission to post Mommy N

Having no problems is the biggest problem of all.    In every stage of your business from start-up to survival, survival to professionalization, professionalization to rapid growth, there will be problems that will arise.    Meron ka bang roadblock sa business mo, right now?   Don’t worry.    This is a clear sign that your business is growing. If you are not experiencing any problems at all, then I’m afraid that your business has stopped growing.    Your business has become stagnant.    Your sales and profit have plateaued.   The number of your customers has been more or less the same.    In business, plateauing is a dangerous sign. This is the photo of the dreaded plateau of living things.   And your business is a living thing.  Read more about plateaus here. https://jimgordon.ca/the-dreaded-plateau/   Even when your business has not declined, because your sales and profits have not increased, you won’t be able to afford salary increases for your employees, right?   Saan manggagaling ang funds, di ba?    If this happens, they will naturally start to look for other job options that can pay them better.   Because the needs of your employees will continue to grow.    The needs of your customers will also change.    Just like what is happening now to Honda. This company has been operating its manufacturing plant in Sta. Rosa, Laguna for almost 3 decades.    Without any previous warning, they announced their plans to shut down the plant to their employees and gave them only one month’s notice.   This is a much-publicized event that may have sparked fear in your employees when they start to feel that you have plateaued.    They would try to avoid a one-month notice that will surely cause them tons of stress and will make their families go hungry.   They will act fast, and you’ll surely lose a lot of good people when that happens.   Going back to the Honda case, how did they come up with this decision?   There can be a lot of reasons. Maybe because of:   Low Sales  The auto industry saw a huge drop in volume sales since 2018. They have been producing fewer cars since then.   Excise Tax on Automobiles The new system simplifies the auto excise tax structure to 5% (increased from 2%) for vehicles priced up to 600,000; 20% for vehicles priced from 600,000 to 1 million; 40% for vehicles priced from 1.1 million to 2.1 million; and 60% for vehicles priced from 2.1 million and above. This has prevented new car owners from buying Honda’s higher-end cars.   Move towards Green Fuel Car owners now are more environmentally conscious. They prefer cars that run on environmentally friendly fuel instead of fossil fuels like gasoline and diesel. This has caused Honda’s car sales to go down even further.   So now, Honda Cars Philippines, Inc. wants to optimize its production in Asia and Oceania. They also want to focus and concentrate on using available resources to produce more hybrid and electric automobiles.    Moving forward, Honda will also accelerate initiatives for a zero-emission society by actively promoting the effective use of renewable energy.  A true entrepreneur always innovates.  They always look for the next business opportunity, and the next best product to offer to customers.  As the late founder of Honda, Soichiro Honda said, “Stop waiting for the perfect conditions and get to work. Maintain optimism during difficult times; take action that moves you closer to your goals, day after day after day.” So, business owner, take a closer look at your business.  Saan ba nagkaka-aberya? Is it from Sales? Production? Marketing? Suppliers? Logistics? Supply Chain? Collection/Payments? Your Employees’ Knowledge, Attitudes. Skills & Habits? Or your own Leadership? Are the needs of your customers changing? What can you do to serve them better? I understand it can be overwhelming to see all the problems.  I’ve seen business owners seek solace in Korean Telenovelas so they don’t have to face the problems. I’ve heard about a business owner who started a farm with birds and orchids just so that he can have an excuse to run away from his business problems. . I’ve been there a lot of times. My favorite hiding place is to start another business which I thought wouldn’t give me the same problems. Running away from the problems of my current business has been the cause of my greatest failure. Running away brought my husband and me more problems: in our old businesses, our new businesses, our relationships, and it plunged us into deeper debt...  Please don’t do that to yourself and to your family. My advice? Talk to your people. Identify the needs. Identify what needs to improve or change.  Treat your business problems as opportunities for growth.  The bad news is: your business problems will never be totally solved.  As you grow, there will be more and bigger problems. The good news is: you don’t have to solve all your problems at the same time. You can just concentrate on one area first before you move on to the next.  What is rewarding is that with each step that you take, your business will move forward, your sales will grow, and every little thing you do will surely lead your business to success.    Grow your business more,   Your Mommy Negosyo   P.S.1: Do you have any questions about your business?  Do email them to me so I can answer them in our future emails.  Ok? It’s better to get answers than to suffer silently as I did many years ago. :-) P.S.2: If you want to understand more about your business growth stages and still do not have the Grow Your Business, Pinoy! book yet, get your copy here. If you or any of your friends would want to know what stage your businesses are in, feel free to take the assessment here. Copyright © 2020 Grow Your Business Pinoy Inc., All rights reserved. Want to change how you receive these emails? You can update your preferences or unsubscribe from this list.