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What has been your biggest challenge in business?
bendi3
#21 Posted : Monday, May 09, 2011 4:34:03 PM
Rank: Member

Joined: 9/14/2010
Posts: 106
Biggest challenge...time, time to ensure that your employee is not getting a higher return on YOUR investiment.

Oh,and cashflow issues especially when every way you look at it you see an opportunity fading away just because you have no capacity to take it on.
The early worm, is the one caught by the early bird.........
FancyFace
#22 Posted : Monday, May 09, 2011 5:16:04 PM
Rank: Member

Joined: 7/31/2009
Posts: 743
anasazi wrote:
Sales


this is the greatest challenge..my goodness the kickbacks are crazy..and dealing with women with ATT...pipe dream

Problems can get out of proportion, and not only in the wee small hours. Don't let the problems eclipse the Master. Let the Master eclipse the problems.
bwenyenye
#23 Posted : Tuesday, May 10, 2011 3:59:28 PM
Rank: Elder

Joined: 5/24/2007
Posts: 1,805
SO far Cashflow management. Especially after I learnt that the first sign of a collapsing busines is a cash flow problem, not a loss.
I Think Therefore I Am
KenyanLyrics
#24 Posted : Wednesday, May 11, 2011 9:06:09 PM
Rank: Veteran

Joined: 4/16/2010
Posts: 906
Location: Nairobi
Real hard lessons in this thread
digitek1
#25 Posted : Wednesday, May 11, 2011 10:42:27 PM
Rank: Veteran

Joined: 2/3/2010
Posts: 1,797
Location: Kenya
kanju raids, 10% syndrome, thieving employees, ever increasing overheads.
I may be wrong..but then I could be right
mozenrat
#26 Posted : Thursday, May 12, 2011 9:09:23 AM
Rank: Veteran

Joined: 5/18/2008
Posts: 796
bwenyenye wrote:
SO far Cashflow management. Especially after I learnt that the first sign of a collapsing busines is a cash flow problem, not a loss.


Seconded.. The PnL might look great.. but if debtors are not paying up while your creditors are insisting on prompt payment, you're screwed.
GITHUKUSM
#27 Posted : Thursday, May 12, 2011 9:35:04 AM
Rank: Member

Joined: 12/21/2007
Posts: 84
Every aspect of business is a challenge,the very thought of a new venture is quite challenging without assurance of any return on investment in the near future.
Qognito
#28 Posted : Saturday, May 21, 2011 11:44:44 AM
Rank: New-farer

Joined: 12/23/2009
Posts: 22
Location: Nairobi
Not so much about what is wrong, but what I have learnt.
Patience is key.
Sometimes patience for that deal that has been coming since 2 months ago. It might come eventually, but no need to pester the client about it.
Always make agreements, in writing.
Shows you are serious and professional. You gain more respect, if you are a start up.
Time.
It is hard running a business on the side with minimal costs. very hard.
Do or Do Not, there is no Try!
RVP
#29 Posted : Saturday, May 21, 2011 12:05:47 PM
Rank: New-farer

Joined: 5/3/2010
Posts: 69
Do not compromise the quality of service you give your old clients as you pursue new ones. Cashlow has already been stated. Can be a real killer. And It can creep up on you if you do not keep your eye on all balls.
seeker*
#30 Posted : Tuesday, May 24, 2011 11:49:18 AM
Rank: Member

Joined: 9/11/2009
Posts: 132
Location: nairobi
in the beginning was getting banks to give you money but after its record keeping and finding good employees. But i have found the worst thing that can ever happen to a business is hiring a bad employee, stealing, opening late, being arrogant to customers,absentism, mood-swings eeeish! am getting a migraine just thinking.
but i have never regretted going on business, then there is the 3year make or break point...all businesses go through that.
Don't fight a battle if you gain nothing by winning.” Erwin Rommel
When I was a child, I spoke like a child, thought like a child, and reasoned like a child. When I became an adult, I no longer used childish ways.
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