Skip to main content

In it for Business or Money?

 

Business or Money



In the past month we were talking prayer and how we need it to centre ourselves and find direction for our businesses.
For venogeoup there is alot that has changed, there is new clientele, new feel and a clear spirit of what one is supposed to do. I hope that we continue praying and meditating.

This week I would like to talk about Why we are selling what we are selling. I am touched by this topic because I have a situation in my business where my profit  has decreased, this is due to external factors like increases in prices and others.
 During a particular consultation I brought up the issue and I had an idea to discontinue the course of selling the product. But I was smacked by this question " Are you doing it for money or for building a business?" At that moment I really couldn't answer the question. So I did some thinking.

 We all know that businesses fail in the first 5 Years and this is because in this time we are not making any profit, what we do is cover all costs ( Break- even) and really if we are to focus on the money and not the business we  WILL fail. 
I know this may somewhat contradict why we start businesses but what's the use of having businesses that do not pass the start-up stage? How many businesses do you know that have been somewhat the same ever since? And how many people do you know who stopped selling something because they say it doesn't make money?

I believe that in this 5 years we have to establish ourselves and  focus on building the business. However this is very difficult to do, you have to be in it with all your might. Every little cent you get should be directed to the business. 
 I want us to evaluate if we are in it for business or for money?

Innovate and add value.

Comments

Post a Comment

Popular posts from this blog

Understanding Financial Reports: A Guide for Business Owners

Financial reporting is a fundamental aspect of any business, large or small. It involves the creation and presentation of financial data that reflects the company's financial health, performance, and economic standing. While many people are familiar with the term “financial statements,” financial reporting encompasses more than just the end-of-year profit and loss figures.  What is Financial Reporting? At its core, financial reporting is the process of compiling and presenting financial data to provide a clear picture of a company’s operations and financial status. It includes a wide range of reports such as balance sheets, income statements, cash flow statements, and more. These reports help business leaders, investors, and other stakeholders make informed decisions about the company’s future. However, it’s important to note that financial reporting isn't just about creating these formal documents. It also involves ongoing tracking and recording of financial transactions to en...
Post a Comment
Read more

Lets get started.

  Getting started again. So since we said we are starting afresh, where do we start exactly? My number one problem and I believe it is for most people is money.  We may have ideas on how to get started but the money we make in business can only cover certain things. What do we need then? More and more money? I don’t think so. We need to establish a relationship with money, we need to understand it and have discipline to keep it, because it is more about keeping it than making it.  But first we need to learn how to make it because we can’t keep what we don’t have.  I have come across a social Media platform where one can connect with other entrepreneurs and market their business. The interesting thing about this platform particularly is that whenever you use it, you get credits points which can be redeemable for Cash. This alone for me is worthy of all our attention. Basically we get paid to be on the platform. But now one can ask what this has to do with busine...
Post a Comment
Read more

Target Market.

 Appealing to the target market. In the past week I have took it upon myself to understand my target market. I reached out to them and talked to them about how they would want to buy my products and to my surprise I got  answers I was not even thinking about. Then I realised that we entrepreneurs have a fancy way of saying who our targets are and how we will reach them but these ways are not really appealing to our targets. We have these strategies we want to implement but not appealing to the market. So I thought that I had it all figured out as to how I will market my business only to find that it doesn't work. So I had to reset, rethink and restructure everything. And again I have to constantly communicate with my targets if how I am doing suites their preference.  So for this week I challenge you to REALLY look at your target and if your strategies are working. Innovate and add value.
Post a Comment
Read more