By Evian Kuribu
It is in the human nature to want to relax and enjoy yourself especially during the festive seasons. Most people would want to ‘spoil’ themselves. In such circumstances, the use of large sums of money is inevitable. Taking trips, payment of hotel bills, going on shopping sprees etc. are just some of the items money is spent on. It is however unfortunate that most people choose to ignore the future. They prefer to ‘live in the moment’ rather than prepare for events after the festive season. The saying ‘live today, let tomorrow take care of itself’ seems to be highly overstretched in this situation.
For a newbie in the entrepreneurial industry, such a mentality could drown his business. Spending too much of his money in personal items could deprive the business the necessary capital for its efficient operation. Before considering a treat for himself, the newbie should put enough resources into his project. He/she may even take advantage of the festive season to boost his business. The festive season comes with a lot of offers and discounts on various products. The newbie can take advantage of this and acquire the necessary resources at lower prices. This will help lower the projected costs of setting up the business. Once the business has been established, the newbie should devote time and resources to nature the business to its potential success. When the working capital cycle is stable and able to support the business, all costs of running the business can be settled and a substantial amount of revenue realized. To this effect, the entrepreneur can then move on to plan for his festive season plans without adversely affecting the business.
Keep in mind, ‘take care of your business today so that your business can take care of you in the future.’ Happy festive season and Happy New Year