Lessons, Lessons!!!

Well well well, how’s it going people?

I’m just sitting here, listening to an audiobook called ”Rich Dad, Poor Dad“. All I can say is - What a powerful book!! So far, it makes it clear how important it is for one to actually start thinking about finances. When I say think, I don’t mean ” What next to buy” or “How much is left in ones account” but I mean thinking about the future, drawing a realistic picture of how much comes in, goes out and what can be done to make more come in…. According to Robert Kiyosaki, “You need to understand the difference between an asset and a liability. An asset puts money in your pocket and a liability takes money from your pocket. The rich understand the difference and buy assets, not liabilities.” This is one book I’ll be reading (listening to?) again and again…

Other than that, I’ve made my first major mistake!! I underpriced a couple of items, simply because I was given quotes minus VAT. Whether this was on oversight or a deliberate deceitful marketing strategy, I do not know… I wouldn’t like to think it was the latter, though. This leaves me in a very compromising situation… What do I do now with pending orders? How can I make such a drastic change without leavin a negative impression on my precious prospective ”re-customers”? I’m barely out of the door and it would be highly unprofessional to say (after receiving payments) “Oh, I’m sorry, the prices just went up therefore you’ll have to pay the difference or we can’t fulfill your order…” Well, I guess this one would have to be on me. As with everything in life, this is a lesson that has to be learnt. I wonder what other mistakes other start-up businesses make and how it affects them in the long run. With mine, I only lost a few hundreds, so it could have been worse. At this point then, I guess we aren’t finished at the drawing board. There is still more planning to be done. Phew!