Adapt, Pivot, Transition, Evolve - How Do We Proceed?

Adapt.

Pivot.

Transition.

Evolve.

All these and more not-so-new words have been added to our business dictionary. Every business now, no doubt, has had to take some unplanned action/s to ensure survival in the next coming months. Businesses that fail to take any action will indeed struggle to get ahead and will die eventually.

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How Are You Going To Fund Your Startup?

Most people know they want to start a business. What they don’t know most of the times, is how they’re going to fund their business. This is the stumbling block for many eager Entrepreneurs who simply give up their idea or dream when they just can’t figure this part out.  

When clients come to us with their interest to start a business, we make sure they understand what they are getting into financially, and that they understand the words ‘cash-flow’. Too many persons only pay attention to the frills of owning a business without taking into consideration, the in-depth details required to make a business survive and thrive. There are a lot of persons who start a business, and not enough Entrepreneurs who are able to seek out opportunities to create a sustainable, viable business, keep learning, keep creating, and keep innovating. If you’re going to build a business, why not build one to last? Why not build one your children or a future investor or buyer can take over?

So where are we going with this? Listen, if you want to start a business, you have got to keep your head in the game from the moment the idea comes to you, and not get carried away by the ‘shiny object syndrome.

So let’s talk Money! No, better yet, Capital! Where is it going to come from? This is your first business. Are you going to rely on the banks to just drop some money into your idea after you present them with a Business Plan? A Business Plan you paid someone else to do and you can’t even explain? To be quite honest with you, without a trading record, getting startup finance from a bank is going to be difficult no matter how good your idea seems.

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Why Local Banks Had to Reduce Card USD Limits - A Simple Outlook

In 2017, market challenges affected Foreign Exchange (FX) availability and caused our banks to set limits on foreign exchange transactions. Now once again, those same market conditions have deteriorated and we are back at it.

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