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I really have to get this resolved soon; a broken transaction is like a sleeping sickness. Bit by bit, bit by bit and you ended up using it for actually nothing productive. There are so many setbacks SME entrepreneurs are facing and I keep on saying it, yes, YOU HAVE TO GO BIG. I admire how big businesses operate and I wish and am working on how to operate the same. money is like the lifewire or the blood of a business.
In its absence, there are likely to be so many flaws during operations. Delayed services, economic waste, poor quality of product and service, lessened profit, overall revenue dissatisfaction and it goes on and on. Do you know that too much debts and scattered transactions weaken vibes concerning your daily operations?
I am speaking from the standpoint of experience; money seen on paper and that which has been transactionally handed over is not the same. The earlier raises ‘delayed hopes’ while the former drives productivity. What happens in days you have a huge expense to make concerning the company and there is no money. The matter moves another direction in the process because if that expense is very compulsory, you might be forced into One Direction; debt.
Yes I know it's somewhat painful; entering debt when your paperwork shows there is enough and to spare on the current matter. The fact is, I just have to step up my knowledge in separating customers from their money. Am I always getting too sympathetic when trying to force a transaction? I have seen that many times. He should understand that we need this money; ok, maybe this is me just assuming because every (or most of I should say) customers will leverage your weakness or ignorance of not making transactions very compulsory.
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The flaws I have just seen is that most of our customers are credit customers pushing ALL expenses to us. It can be acceptable for customers that will pull in a one time huge transaction but a setback from minimal ones because in actuality, we are supposed to use available cash to pull out these services. It gets me stuck most of the time and I have to really strategize on this.
Consider a customer telling you to get the fabric and so the entire sewing for him. Already, the clothes has become unsellable to another person because they have been booked in ‘word of mouth’ but without any backing transactions. Let's say I used N30K in the entire process and well, the customer decides to transform this need that was first thought of to a want?.
Ok, be prepared to hang in there for as long as possible; I am talking of pending transactions for months here. The customer is not at any loss. Consider where I would have been in a ready to wear in which anyone can just walk in and pick it up.
To conclude, let me add, the problem of scattered and delayed transactions is something worth addressing. I guess this is why I am the manager; to speak out for the business. Adding to that, standards will speak much louder; when our mode of operation moves to another level where I am mostly not involved in money collection.
This is an article covered by dani-EL; a broad niche writer. I write on faith, life facts and daily living, business and economics, small scale and daily businessing, cryptocurrency and technology. And yes, I do cover articles on financial education and investment updates. And note, if I happen to be a financial adviser to you, the TOP financial advice should be ‘DYOR’ (Do Your Own Research), I can't afford to break your heart.
