Is your business in crisis?

Many entreprenuers are facing a lot of crisis pertaining their careers in general. These crisis include financial difficulties, mismanagement etc. Are you one of victims still worried of where your business is heading to. Is your business life cycle graph is still wavy and complex? Are you in any crisis and you still don’t realize your mistakes?

Okay, I may not fully solve these out but trust me am here for help. Many entreprenuers make simple mistakes that are worth of their survival in the industry. Try and look at these following errors that cost us alot;

You don’t keep records for buainess transactions – many individuals don’t bother taking account of what is taking place. Have a record of events you get into. What is your current stock? Sold stock? Expected stock? What of credits? Debits? Discounts? All these kind of records will help you discover if you are making progressive profits or continous losses.

You don’t plan before you do anything. Various individuals don’t sit down and plan before investing in their business. Sit down and budget for development of your business. Don’t rush into making quick decisions when it comes to business resources. You can consult specialist to guide you effectively in making choices. This will help you realize mistakes that may arise from poor decision making.

You are not committed enough to your business -Don’t undermine your responsibilities. Stay focused and never give up. Always take account and be updated to whatever is taking place. Have a review of your business life cycle. Be active to trends in the industry changes. Have a mandatory to ensure you improve your services everyday. Do more research everytime. Make sure you provide what customers’ best demand is. Don’t be lazy. Atleast boost your attention to them.

You are not networking with others – Sometimes connectivity gives more priorities when it comes to marketing. You will learn new things from them. How they deal with their challanges? How they run their business? How they relate with their consumers? And many more.

You do not protect your business profile – Previously I encounter cases of bankruptcy and theft in business. Entreprenuers aren’t protecting their businesses fully from invaders. If so, they have poor strategies to aid them. Do you know your friends can be toxic invaders to your business? They are not supposed to enter your business privacy. Let relationships not interfere with your business at all means.

Customer attraction

Are you an entreprenuer looking for ways to attract customers to buy your products? Good! Here is the right places for that simple facts but very sensiticmve. Firstly, make sure you provide quality services that favours them. Make sure your products are pleasing your customers eyes. Look at the materials texture, is it rough? Smooth? Flexible? Fabric? Nylon? Leather? Etc. For instance a customer may prefer buying a leather jacket than a fabric one. Secondly, consider your pricing system for your products. You choose to sell at moderate price and also offer discounts if possible. For example you may decide to tag 499/= instead of 500/= for the purpose of consumer attraction. Or if a customer decides to buy a lot products at once, you can offer discount of 20% to each products. Thirdly, you can decide to offer etreme self services to customers that will ease the business operation. These services include packaging, doors delivery, breaking bulk and many more. These services will motivate customers to come back again for more services. Fourthly, improve your business operation speed to customers. Many customers value businesses that don’t waste time during offering services. Make sure you deliver them at time. Serve them faster. Don’t keep them stressed waiting. No one likes to buy in ashop with line waiting. Cook your restaurant meals on time. Serve the food while still hot and fresh. Lastly, you should offer promotions and gifts to potential customers. Show them that you value their trust on your products and services. They have greatly acted like the backbone support to your business. Hope these facts will help out. Thank you!

Teamwork works

Look for teamwork if you want to archieve it at a better way in any activity. In teamwork you; share ideas, do research, support eachother, find alternatives, share responsibilities, boost effort level and make better decisions. It fights boredom that comes with being self reliant hence no procrastination of tasks. It reduces stress that comes with overload of work. Specialisation of skills is divided to each participants hence quality output. Teamworks also opens door for connectivity and networking to different masses of individuals. High sales of product due to increased market awareness through networking. Individuals are able to learn from others from different ethnics. Teamwork also boost individuals ability to archieve resources like financial support that drags many organisations behind.

Techniques/Process of Budgeting

1. Formulation of business policies i.e purchase policy, production policy, inventry/logistics policy, sales policy & finance/money policy.

2. Drafting budget forecast i.e sales forecast, purchase forecast, capital expenditure/imvestment forecast, research and development expense forecast.

3. Budgets alternative plans and selection one best among them.

4. Coordination among various departmrnt budgets.

5. Budget committee formulates master budget.

6. Approval of master budget in the meeting of the shareholders/owners.

Limitations of Budgeting

1. Affected by personal bias and prejudices.

2. Pelreparation of frailty budgets due to lack of appropriate information.

3. Budget failure due to lack of departmental cooperation.

4. Etra burden and cost increase due to budget preparation.

5. More attention on budget objectives and less attention of employees.

6. Budgets are simply estimates of future activities.

7. Budget decision taken mostly at high level.

8. Ignorance of lower level employees.

Children are innocent

Children are innocent. They are not responsible for whatever they do. Stop beating them. Stop abusing them. They are young to understand what life is. Let them expose their potentials and abilities to the society. They remind us how we used to be when we were young. Stop raping them. They are God given gifts. Don’t hate them because of their parents or guardians personality. Invite your neighbours kids to join and feast with your kids. Don’t take your envy to them together with their parents. They are unique and don’t understand whats going on. Just treat them well.

Irony of love

All who are insearch of a love partner always wish they meet with perfect match. But irony of love is inverse of human expectations to reality. Sometimes people who are really interested in us, are the one we totally don’t mind off. We all look for love in all the wrong places. That person who you love maybe loving someone else who doesnt even mind about him or her. We often reject people who are meant to stay. Everyone is interested in different qualities of a partner to date. Just like many short girls prefer tall men & many tall girls prefer short men and many more. Everyone is looking for a perfect guy. All in all remember beauty lies in the eyes of the beholder. Be careful!

Objectives of budget

1. Most effective tool to the management for the perfomance evaluation of the business activities

2. Defining responsibilities

3. Coordinating

4. Help in communicating

5. Useful motivation device

6. Tool for controlling cost of an organization

7. Increasing business efficiency

8. Profit maximization

9. Cost reduction

10. Increase competite strength of the business

11. Low production cost

12. Minimum waste of time, energy and money

13. Its a tool of management

14. It helps management in planning, coordination and control

15. Helps in checking the perfomance.

Come and go..oldschool rap song lyrics by King G

Fake friends come and go

They don’t wanna get my blow

All they see me blessed and still grow old

Young, handsome rapper i keep ageing good

Haters respect me nigga am ruling my hood

Bad music, Good verses

Rapping nudy, i fuck assess

Nigga am real i don’t give fake deals

I get money, buy meals and pay my bills

No time to play, those puppy games

Trying to diss me with nasty lines

Better writes bars, stop braging

I wonder why you rap by yourself and keep laughing

You aint real rappers yet keep learning

Practice over and over till you get it over

Stay far away you chaps, dont come closer

I will burn you high am the joker smoke

Tell alie, i take a lighter

Burn your head ice

Split your chest part

Like a skin of a rat

Nothing to lose

Nothing to gain

Whether you come and go, am still the same

Same rap name with different rap game

I almost forget you because you come and go

But am still the same, days nights come and i keep to grow

Fake friends come and go

Days nights come and i grow

You felt so special because i valued you so deep

Am now realize why treating you good, aint best choice

I need you to test my actions and voice

Do freestyles for you chaps everyhour

After milestones sweating i get ashower

Inlove with music industry i do what i do for my hooly crews

Big fans, great jams all feeling cool

Always be there for you, never dissapoint you

Do it till i die, i sacrifice you

Do it alive, when im smoking high.

If you keep haters keep come and go

Better stay or fly and go.

Fake friends come and go

To be continued…

Principles of Budgeting

1. Sponsored by the top management

2. Determination of responsibility centers

3. Determination of controllable costs

4. Organizing budget seminars and training

5. Pre-determination of appropriate time period of budget

6. Terminology of budget should be uniform

7. Goald shall be one which can be archieved

8. Economical costs of budget

9. It should be flexible

10. Top management approval

11. Budget program evaluations

12. Timely corrective action shall be taken