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Thread: Hard Time? Read This!

  1. #11
    Diamond Member Justloadit's Avatar
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    Interesting, I am going through a similar type business decision. Is it the weather?
    No, I think that we are really fighting in our business to make a decent bottom line, and that I have to spend more time in steering the ship. This has prompted me to make some difficult decisions. One of them is to turn unprofitable work away, the one where you spend 6 7 hours to complete, and can only charge for 2 or 3 hours, and in the meantime while you concentrated on this task, other things go wrong in the business around you.

    Right now, I am completing my commitments, as I gave my word, and as each job completes, I find that I am able to do better on the existing products in the avenue of more efficient manufacturing, paying more attention to QC and raw materials procurement with a JIT mentality. This is improving my cash flow, as I am able to turn my money faster now. I was at a corporate meeting recently, and an interesting number came up. The number crunchers reckon that they must turn their stock around at least 4.7 times a year, if the product they sell can not do this, then it is removed from stock, written off and destroyed. The line manager has one chance at saving this line for a further year, to feed product support or warranties. If it has not reduced substantially in the following year, it will then be removed from stock, and destroyed.
    Victor - Knowledge is a blessing or a curse, your current circumstances make you decide!
    Solar pumping, Solar Geyser & Solar Security lighting solutions - www.microsolve.co.za

  2. #12
    Email problem
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    I have started my Transport Business, and let me tell you, The right frame of mind was there, Everything I needed was there, took three people
    that I did loads for, and not to be paid, has put me in a very bad position. Nothing I did, has now put me back......Not always easy to hear that
    "If you have the right frame of mind" ...nothing will stop you!!! Trusting people, and even a piece of paper with terms and conditions didnt help me.....

  3. #13
    Diamond Member AndyD's Avatar
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    I'm not a slave to my bottom line and maybe I'm lucky in some ways being in a position where I can cherry-pick my projects. My main criteria for taking work on nowadays consists mainly on the interest factor, if it's not interesting then chances are I won't be doing it. There's some things I'll take on at break-even or even less on occasions solely because the project appeals to me.
    _______________________________________________

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  4. #14
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    Success history it is frequent history of persistent work. Remember Edison with his diligence. Sport is first of all huge work too.

  5. #15
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    i find it very interesting when people see others as successful and "follow" them. It is easy to be blinded by the flashing of the limelight though, and one has to be very careful of what you believe, and more importantly, where you part with money. Some people are very good at hooking you in, and increasing the contribution (financial) that you make to their company and success. To be clear - spend your funds wisely, preferably building your own business / wealth. Go to the "free" seminars, you can learn from everyone, but try not to part with too much cash without knowing what the ROI for it is and dont forget to calculate the opportunity costs.

  6. #16
    Full Member Random Hero's Avatar
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    The reason that these people became successful is because they embrace failure...

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