The Basis of Business Operations Pt.1March 5, 2019
TANOE partners Ekow Mensah Consulting for Startup 101 WorkshopsMay 14, 2019
We are in the 3rd Month of 2019. How is your business really doing? You do not have to tell me but you know the truth. This is your legacy and it has to work! Otherwise consider stopping and go find a job before it’s too late.
It will be easy for me to say keep going, don’t give up, you will make it, God’s time is the best but frankly those affirmations are good dependent on what the current indicators say. Business is essentially the conversion of time into money and the more time you spend not making money, the less of a business you are into.
What predominantly determines the success of our business is our unwavering focus on consistent revenue and drastic reduction of expenditure. The health of a business is determined by the fluidity of its cash flow.
When you make more than you spend, you are likely to make profit that will sustain and grow the business. When you make less than you spend, the probability of going out of business or struggling is extremely high. When you make exactly what you spend, you are as good as not being in business at all; well except for the income you probably take as an employee of your business which I suspect most of you don’t take at all.
This ‘thing’ called entrepreneurship is no joke but the struggle is worth it when you are making enough money to meet your obligations, enjoy the good things of life and acquire assets for posterity.
Maybe your aim for becoming an entrepreneur has never been to make money. Maybe you were just having fun with a hobby and some people decided to give you the title of an entrepreneur. Maybe your passion is to impact lives and help people so making money is really not your ‘thing’.
It’s all good but don’t blame anyone for the consequences of your lack of focus on the one thing that will enable the wheels of your dream to keep turning. How you manage to survive month after month in business, only God knows but how long will you keep going on like this?
It’s almost the end of the 1st quarter, it’s not too late to have a candid look into your business and figure the best way to start making some good money. We at Ekow Mensah Consulting; your #BusinessCoPilots, will love to come along with you and make this pursuit worth every investment.
Join our 100 Emerging Brands family here https://ekowmensahconsulting.com/100eb/ and let’s become your most resourceful accountability partners.