Its been 3 years since I last published, WHY?!!
you can take your pick.
Mostly Bumpy road and occupational cruse mode drive, that how we can define our ride till now, is not a easy road to travel, especially if you are not used to handling finical side of things. For me technical was easy, it was stuff like taking a call on the cost or pushing for payments (still hate it). People often talk of execution as key to all success, that's very true but that initial hitch, the do and don't take more out of you than anything else.
Getting business in was and is the toughest part for me, it take certain amount of marketing skill, intuitiveness and know what is your cut off point.
A client offers you pay you 10% in advance and rest after project completion, its seems fair from a client perspective that he gets to see what he is buying before final payment, but you bills to pay in between. What do you DO? Do you take it or leave it?
A client offers 50% advance but a rider that specs may vary 15~20% how do you quantify it?
something for you can be 40% of the project and for the client its just add or removing a field?
My gut feel today tells me, real risk in business is not in "Not Making A Profit", its CASH FLOW.
If you are spending more than what you are selling, then irrespective of profit margin you put your self under tremendous pressure to meet spending without cash in hand, that's where things go downhill.
Paying salaries out of pocket or taking loans from family and friends who start looking at you with suspect eyes, and question your decision to become an entrepreneur, and are too wise to say "I Said So".
Like the great thinker Lord Buddha said
you can take your pick.
- Its been great and have been too busy
- Its been really slow and had nothing to share
- Its been OK~ aeeeh average sort of thing, nothing to report back
Well all of the options apply in parts, been busy had a combination of too slow and too busy periods to top it off not in a clear mental state to share stuff.
Mostly Bumpy road and occupational cruse mode drive, that how we can define our ride till now, is not a easy road to travel, especially if you are not used to handling finical side of things. For me technical was easy, it was stuff like taking a call on the cost or pushing for payments (still hate it). People often talk of execution as key to all success, that's very true but that initial hitch, the do and don't take more out of you than anything else.
Getting business in was and is the toughest part for me, it take certain amount of marketing skill, intuitiveness and know what is your cut off point.
A client offers you pay you 10% in advance and rest after project completion, its seems fair from a client perspective that he gets to see what he is buying before final payment, but you bills to pay in between. What do you DO? Do you take it or leave it?
A client offers 50% advance but a rider that specs may vary 15~20% how do you quantify it?
something for you can be 40% of the project and for the client its just add or removing a field?
My gut feel today tells me, real risk in business is not in "Not Making A Profit", its CASH FLOW.
If you are spending more than what you are selling, then irrespective of profit margin you put your self under tremendous pressure to meet spending without cash in hand, that's where things go downhill.
Paying salaries out of pocket or taking loans from family and friends who start looking at you with suspect eyes, and question your decision to become an entrepreneur, and are too wise to say "I Said So".
Like the great thinker Lord Buddha said
There are only two mistakes one can make along the road to truth; not going all the way, and not starting.So the journey continues ....
Congrats! big boss on your achievements.Your hard work has paid off.I knew that a hard working and sincere person like you will be a winner all the way."Paying salaries out of pocket" I think this is the toughest part of our life when we are paying out of pocket. this need to much patience and guts to do something great. May you have many more years of success and higher achievements. You have made us proud. Good job sir g.
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