Business is not easy, we are most likely the generation that is classified as the ‘FIRST’ to embark in this entrepreneurial journey in our families. And that is thanks to our young democracy.
It is also understandable that in your early years in business you will feel the need to have some form of support or companionship to help through the journey. Though it is advisable, but make sure while you are learning you must also fight to be independent in business.
Here is the reasons why:
- To avoid being taken advantages of
There is no doubt that a business is a transaction, and that is the most crucial element of business. Thus no one will want to be in business and not want to benefit. You therefore need to make very calculative decisions when you feel the need to build some sort of partnership or working relationship with others. Make sure that you and your business will not be comprised. Follow through the formal procedures, have your agreements in black and white, policies in places, etc. to cover and protect all the parties involved but most importantly you must come first!
- Learn to say No
Having to reject things that do not add value to your business is probably the most important sign of independency. I can give an example: Potential customers may insist on a discount even on their first purchase. At times they become manipulative and promise you things that are not guaranteed. They say things like “I will bring you more client”, “I will connect you with my network”, etc. Tip: Do not become desperate for a sale. Being desperate leads to sabotaging yourself and compromising the business profits. If it does not make sense to you and the business, the answer is simply No…
- Be less available
Not every opportunity that presents itself to you deserve your attention. Be passionate about your business to an extent that you analyze everything that you must get involved in. Some opportunities might be covered with gold and be promising but may however not bring you the gold but the misery and end up ruin your reputation. As much as business is about money, you need to remember that there are lots of elements that build a business. Things like integrity, character, values, etc. once you have presented yourself to the masses you need to be careful that you do not compromise on these elements.
Compiled by Ms. Dikeledi Seoloane on behalf of Matsobanemetja Business Consulting – Accounting Firm.