No Room for Bad Debts!

As an upcoming entrepreneur please emphasize on getting upfront payments or meaningful deposits. You are not at the luxury of having such a long list of bad debts. You will suffocate too early and remain on the ground.

Don't trust anyone even those with heavy titles, like Dr. so and so or Mr./Mrs. Director, some of them will quickly disappear after getting a service. Life is difficult for everyone here in Zimbabwe. Be warned. Am talking from experience, 3 PhDs ran away with my money. Trust is not something you can give easily, it has to be conditional.

Now, there is one big problem I have noticed coming from debts whether good or bad. Debts disturb CASH FLOWS because you will struggle or ultimately fail to maintain working capital, liquidity, and funds for growth and expansion. This means that bad debts can even threaten the survival of your business.

You may wonder why you are not moving or growing at the speed you expect and if you look at it closely, debts can be the main reason. As upcoming or aspiring entrepreneurs, we must be very careful on how we manage our finances. From time to time you should hire an accountant to look at your books and help you with important financial advice.

Brian Mahuni (CoachBM)?is a Senior Market Researcher, Business Consultant & Career Coach who helped 2,000+ professionals to get meaningful employment & 50+ companies to grow their businesses! Currently running own Business & Career Consulting Firm, BM Consultants.

+263 775 450 604 | [email protected]