BUSINESS TIPS - Some More Common Mistakes - Part 2

BUSINESS TIPS – Some More Common Mistakes – Part 2


By Nikki Viljoen – Viljoen Consulting CC – August 2011

Let’s be honest here, we all have good days and bad – we’re human after all and sometimes that’s just the way things are.  Of course that does not mean that we just sit back and do nothing!  What it does mean though is that we have to work extra hard at getting ourselves re-motivated.  Our lives and our businesses depend on it!

Instead of beating yourself up when you are feeling low though, try doing something different.  Do something that you absolutely love, or at the very least, do something that will take you out of the normal routine – go and watch a movie or take yourself ‘out for tea’ or ‘out for a meal’, or go for a massage, but take yourself away from your day to day drudge and troubles – chances are that when you come back you will be in an altogether different frame of mind and you can then get back onto the treadmill – ready to face whatever may come your way.

You need to understand that you will have to exercise great patience and tenacity when you have you own business.  It is more than likely that you will need to speak with someone whom you can brainstorm with and/or bounce ideas off or who can (and will) challenge you and keep you motivated and going in the right direction.  We all need a little help every now and then and having a mentor is usually a good thing – remember to ‘pay it forward’ though and help or mentor someone else too.

Keeping your emotions in check is also something that you will need to do, especially when you are making decisions that will have a huge impact on your business.

Decisions, of course, need to be made only after careful consideration, after a good deal of research and even more clear headed soul searching, in order for them it have the greatest beneficial impact.  Decisions made ‘on the fly’ or without any kind of deliberation could have serious negative financial implications, which could bring about the demise of your business.  So always think things through first.

A business needs to grow and that is a good thing – it’s a natural thing and it evidences that the product and/or service that you are offering is of value and that there is a demand for it.

Here’s the thing though that you need to be aware of and plan for.  When you grow, your will need more money to facilitate the expansion.  Ensure that your growth is measured and gradual and that you don’t grow too quickly as that will take more finance away from the day to day running and working capital of the business, which in turn would impact hugely on the cash flow and therefore the well being of the company.

Whatever you decide to do and however you decide to do it, remember why you started the business in the first place and remember to have fun!

Nikki is an Internal Auditor and Business Administration Specialist who can be contacted on 083 702 8849 or nikki@viljoenconsulting.co.za or http://www.viljoenconsulting.co.za