CREATE YOUR VISION BOARD
FROM YOUR BUSINESS BUCKET LIST
FOR Year 2018
Let’s be real. The Miracle of Life awakes you
on Mornings. You now have the option to continue to sleep with
your dreams or wake up and make your dream a
reality with all your strength.
As you continue today please divorce Excuses, Procrastination
and Marry Positive Action.
On Day 2, I spoke about increasing your Sales,
but the question has been asked how can that be done
with an accumulation of debt, which one is challenged to get rid of,
to be able to focus on marketing and sales.
Ok…Let’s look at some things which can be done to relieve one from being
consumed emotionally with hiding from creditors, instead of being
able to focus on solving this challenge. Develop an action plan which
can include the following.
1. Be true to oneself and note the reasons why you are in this situation
2. Write down who you owe, how much and the monthly repayment
3. Negotiate with your creditors, being truthful to them and organize
new repayment terms.
4. If you have a family, you are responsible for, please discuss the
situation with them and let them know that this too shall pass,
once they corporate with the cut backs you all will have to endure
5. Ok, you need the sales receipt to pay staff and all fixed expenses,
You now must look at other means to generate extra funds.
This shall be tough, but you may have to consider a part time job after
your business hours.
6. You may say that sales revenue is insufficient to even cover the current daily
fixed expenses. Ok do not be embarrassed to sell off some of your personal stuff
probably to a second – hand shop, as this situation you are in is short – term.
You have confidence in your business and you know that with the
right connections you can turn it around
7. You may have a luxury vehicle which you can sell
do not think about what you drive at this time…the best is yet to come.
Get an economy vehicle for the time been and use the funds from the sale
of the luxury vehicle to make snowball payments indicating your
good intentions to your creditors
8. Do not accumulate more debt until you are out of this situation
and you have acquired financial education to know how to manage money
better as there are lessons to be learnt from the mistakes made to
get you into this situation.
9. Consideration can also be given to getting into a business partnership with
a written agreement
10. Bear in mind that the borrower is a slave to the lender…become like a gazelle
and run from bad debt…note I said bad debt as there is good debt you can acquire
I shall speak about good debt on day 4…which is debt which shall bring in ‘passive income’
11. Ensure that you have the right person to talk with in confidence.
12. Find and emulate winners…not people with opinions
13. Be prepared as you cut back you shall know your true friends
as you may be joining the NFL league: that is No Friends Left.
14. Pay attention to your bank reconciliation.
15. Trust me, prayer works. The one true and living God who owns
every- thing is your father and he shall supply all the wisdom
you need to get out and stay out of bad debt.
Believe and trust in him and you shall regain your self- worth,
self- esteem, confidence and of course get out of bad debt.