Working with money

There are different ways to describe how we relate with money, Every individual has their own relationship with money. The same applies when dealing with money in a business point of view. What l have realized regarding money is having the greatest ideas does not guarantee that your business will be successful to make a substantial profit. The value l have for money plays a big rule in the growth of my business.                                                                              1

With all the knowledge, research and research l have done regarding money l could say l truly understand why my business ventures have not been well successful as l would have desired for them to be. As an artist l noticed realized a sad thing about as we thing just having talent, passion and working hard is all we need. But I realised sadly that is not going to put food and butter on my table. I now had to school myself on money. What really did l know about money as an up and coming entrepreneur.

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Questions started to fill my mind.

  • Did l make the right decision of not taking up a loan to start my small business?
  • What am l doing with my profit?
  • What am l doing wrong that the business is not growing?

The more questions started to fill my mind the more l realized l had to change my relationship with money in order for my business to grow. With all the research that I started to do and my business failures l had with money.

I was proud with myself that l made a very good decision to start my business with my savings not with loan. Starting my business that way allows my business to be debt free from the bank that is very good for me for me l will not have stress of monthly payments from the bank.  Even though the growth of my business will be slow, but there will be less stress from the bank.

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With the stress of staring capital out of the way l had to find ways on being financial smart with capital.  They manner l did my transport changed when l had to purchase products. Gone was the habit of buying products in half and half. Now l buy products in bulk setting a specific day.

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I cut back expenses that where not even fruitful for the growth of my business and l started to be expense conscious.  6

Profit that is the word every entrepreneur likes to hear. That word puts a smile on my face. To me it is like the reflection of my hard work coming in rands. Before when profit came l spend it to cover my personal needs, more than the needs of my business. Now l do a total different method. The profit for the business is for the business, I make sure stays in the business.

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The money from the profit earned is now enough that l  am able to get money to purchase products and transportation. With the growth and new method of handling money l am looking into investing with youngsters like me on new business ventures.

Am l full of knowledge about money regarding business? No, but l can say that l am not were l used to be when dealing with money. Like Richard Branson said ‘‘Don’t think what’s the cheapest way to do it, think what’s the amazing way to do it. Those are my words now, cheap does not always make the cut when it comes to business.

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