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

Supply

Supply- supply is the amount of a resource that firms, producers, labourers, providers of financial assets, or other economic agents are willing and able to provide to the marketplace or to an individual. Supply can be in produced goods, labour time, raw materials, or any other scarce or valuable object ( WikiPedia) I found this topic to be of great interest in a sense that one can be in and out of business because of a supplier. Demand and supply makes up the foundation of an economy. In business we can have an obstacle of a supplier. Recently I have halted selling a product due to a problem I had with a supplier. The supplier ran out of business and it was difficult to even find another supplier nearby. A supplier can increase prices meaning you also have to increase your prices. This seems simple but it tends to be difficult to maintain one’s clientele in such a situation. This problem of suppliers come with the risk of running a business, one must always be on the look...

Physical efforts

Taking care of your health. When you are in business you are taking care of alot of things and people. One must be both mentally and physically fit to exercise such responsibility. Reading is an exercise for the mind and working out or running is for the body. Business is about trust and how do you trust someone who looks like they are about to give birth? That is unhealthy. Heath concerns me alot and people need to educate themselves about the kind of food they need to eat. A healthy individual will run a healthy business. Physically appearance is everything especially in the service sector. Therefore, be neat, healthy and fit. Exercising for an hour a day will make a whole difference in your life and your business. Develop that mind

Competition

Why not compete? Competition is inevitable everywhere , people always want to be part of all the profitable markets , that's the business system. The issue is how do we deal with competition and how do we ensure that our services or products add more value than the others? I believe when one is faced with competition " Your Why" should direct you and help capture the market. But as you know how black people are, we want to eliminate the competition as soon as we see it, we tend to focus more on the outside factors instead of being strategic and aiming for innovation. Things in business almost always never go according to plan but one must find ways to stay relevant and to continue with the vision. Competition is our number one enemy and this then hinders our progress . We need to learn that it's an inside out factor not vice versa.

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