As it usually said that, "what is worth doing,is worth doing well". What is worth planning,is worth planning well. If at all we wanted to plan it's better to plan well to get a better result. It's even better not to plan at all than to waste time planning half way through. In starting up a business, small scale business at that,I observed that people do really plan well. They take their time to plan the kind of business,goods to be selling and all that.
Small scale business Investors and debtors.
Small scale business is a kind of business that is set up with little amount of capital. It's a business that doesn't require huge amount of money to start. After this small scale is set up,there is one loop hole that these small scale Investors usually take with levity hands;that's the issue of Debtors. Debtors are those who buy good from you on credit with the intention or agreement to pay later.
How to avoid Debtors in small scale business.
When planning to set up a business, it's paramount to go into businesses that do not require people buying on debt. How can one achieve this? By selling things that people eat on daily basis. Great success comes from business that base on "cash and carry". For example, there's this friend of mine who his wife was selling petty things like food stuffs;when she started the business,it was moving on fine but in the long she started complaining about her goods being reduced. Like no capital to stock goods anymore. Guess what caused the downhill of her business,it was debt. When she calculated the amount of debt customers are owing her,it's half of the money she used to start the small scale business. Debt is an enemy of a growing business. Once you allow it it can ruin the business to the climax.
My personal experience on my small scale business.
Moreso,like my small scale business, hardly would find someone buying chicken from me either live or dressed on credit. This is because,I am not into business that requires you buying it on credit from me. If you are not with your cash,it's not necessarily you eat chicken that day. You can only buy when you have your money.
