As we start off the year, most will make resolutions that they will not keep… However, to bring growth and success to your business, some sort of planning is recommended.
The thing about planning is that it is only as accurate as the information you use to do it with. Some plan as though they are using a black opaque paper to try and trace a piece of art with. Ever been to that mechanic at a garage who spends 5 minutes trying to trace his number 10 spanner from his colleagues, picks a fight with one of them, remonstrates with the ‘guy in charge’ and finally finds the spanner in his tool box?
Some of us do business like that, without a clear plan.
Others start of well, and perhaps lucky, you beat the statistics and it is the fourth year you are in business with a pretty healthy balance sheet. You can afford to cab daily to and from meetings and can attend those networking cocktails every now and then. This time you are not there for the invaluable contacts, but perhaps to gloat a bit about your new-found success in your business. Just for this occasion you have on your bespoke suit and your favourite watch.
As you confidently make contacts, someone talks you into buying a property and even decides to stretch the payments for you to make your life as comfortable as possible. Besides, you planned well and now, can afford to pluck some fruits from your orchard so you make a down payment.
6 months in, you decide to go through your books to see how your firm is doing…. Alas, you realize that there are some textbook mistakes you made that renders the long-desired expansion impossible. The property you started investing in has tied your working capital and your cash flow seems a miss. You therefore are faced with two options; either to increase your revenue or reduce your costs.
You have heard it all before, “It takes money to make money… cash is king… You may require to borrow to finance your business needs.
Well, we say, not necessarily; Trade Finance Solutions the new buzzword in the SME market and Credit Bank has positioned itself in the market to be a solution provider in times such as these. Without necessarily lending money, we will work with you and your suppliers, give your business the necessary guarantees to give you the much-needed boost that will take you to the next level whether you are an importer, a contractor or whether your suppliers are local or International.
We have formulated all round solutions to support importers, exporters, suppliers and contractors in this market. The idea here is to get the work done with the least amount of resources tied up and in the fastest time possible.
So, in comes a new phase in your business, lean planning. These instruments of trade may become invaluable to you as you plan wisely in your forth coming years.
“In life’s journey, having the ability to predict the future gives us an unfair advantage. If we can understand the laws of cause and effect, anyone can predict the future. What we do today leads us to tomorrow’s destination. Why does this simple truth seem to be difficult for most people to understand?”- Celso Cukierkorn