Mismanagement, one disease that can kill your business quickly
No matter how big your business is, this issue can still hits it and bring it down. Mismanagement as a common word has stand out tall as a major business factor. It is definitely a big problem that is associated with business from local to global. If you are not careful enough and you allow this business #pandemic called #mismanagement to hit your business, you might end up falling badly that even your family won't be able to recognise that you are once a rich business man.
People who played with their business have in one or two ways gotten burnt by their lack of dedication and concentration to their business. Business is not to be toyed with. Mismanagement comes in different form so you have to be up with your game when it comes to business daily. I have lots of story to share about some business owners that I have known for a very long time who has fallen from busines totally. Their stories is not that pleasant at all, this Mismanagement is a very big issue that needs to be preached daily to all business men. Permit me to share to you guys an interesting stories of some business men who has fallen drastically from business.
An interview with Mr Abiola, an ex business man who sells Tiles
This man happens to be very close to my dad, he was just like a family member so I refer to him as my uncle.In 2017 his business hits apex, everyboby in my locality knows about him, he was enjoying life to the fullest,he has flirt of cars and houses. He decided to add another business. He was never educated and one bad side of him is that he never takes advice. He does what is on his mind.
In the year 2019, things changed for him, he thought he was targetted by those who hates him so he decided to start vising #pastors. This period, he started using all his business wealth without putting any thing back to the business. The fake pastors (fake man of God), started deceiving him. The pastors told him that God wants to bless him like the way he blessed #lot. He asked him the blessing is being delayed and this current issue he was facing with his business was because God is trying to bless him. God wants to use this avanue to draw him closer because he will never do it if he is rich. The pastor told him that he is going to be the next #lot. He is going to be madly rich if he can do all he asked.
Pastor told him to sow a see with his properties like all his cars, houses and all his business fund that in just a month time, he will acquire all he has lost in more than 20 percentage back. Because he is that type that never listened to advice, he did as the Pastor's said, used all his business fund thinking he will get 20% in return.
He still visited the Man's church till it get to a month. That day he went and he was surprised that church was not opened. He called the pastor, line, it was off. He called the second in command who is the younger brother to the pastor, same result he got. He pretend nothing happened, the second day is Sunday, so he went to church and he saw some other church members crying - no church service. He quickly ask those crying what happened, they told him that #pastor has ran out of the country after collecting money from them. Mr Abiola fainted and he was rushed to the hospital. He lost everything and his business died just because of his #mismanagement. He wanted to earn more because of his little challenges now he got into big challenges which ended his business.
My candid advice to you all reading this is that never use your business money for what will never yield result, business money is suppose to bring in more money. Use your #interest for your daily life goal and never your capital.
Permit me to share another story
Story of how Mr Godwin fall so badly with his business that he had to take his life
After focusing on his business for 3 years, he is now very rich and the riches got into his business. He now gave himself a nick name titled - allow me to eat my life. People see him and call him such name not until Mismanagement falls into his business and his business died. Before the fall, he will go about carrying prostitute, a good business man who never touches his capital but loves reinvesting plus taking proper record of his sales daily now neglect such act. He doesn't have time any more for such activities. All he knows how to do is to collect money anyhow from his business and used it on prostitues. The doom came and he falled drastically. He was ashamed to face live being a poor man so he commit suicide.
You see why you don't have to play with your business at all? If you are doing such, you better deviate right now from such act.
What is Mismanagement?
Mismanagement can be defined or seen as the process whereby company's, small scale business etc fund is being used illegally. Such act doesn't go well in a long run, it ends up killing and crumbling the business. With the two (2) stories I shared above, you can see that inappropriate and illegal use of company's fund can kill down the project.
How to deviate from the act of mismanagement
Since Mismanagement is a big issue not to toyed with, they are some certain things you can do to avoid falling into the category of those who mismanagement has hit. Some of the ways of avoiding or falling from such category include;
i. Never used your #capital for anything not relating to your business. Learn to use your #interest only. You can eat your interest but ensure to invest your capital back to the business. This will help to see you not falling into such category.
ii. You should know your #employee 90%. Don't employ somebody you don't have trust issue on. While I was in primary school my school director was a kind man so he doesn't bother ensuring his employee is being monitored. His principal ends up using his fund to open her own school and my directors business almost collapse because of such mismanagement. We know almost 60% of employees have such evil mindset, pay attention to your business, never entrust trust on anyone.
iii. Daily business record should be taken very serious. Make sure your daily sales record should be taken very serious. Request for it if you have an employee working for you. It will help to see your business running on cross checking method.
With this three guide, you should be able to monitor your business 70%. At least this will help to seeing your business being checkmated against mismanagement.
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