#PlsSaveMe : Understand Your Business Better

Me and Nel

Everyone will really want to have a better position in life; to have a peaceful mind and become financially stable. Many are working towards this goal however, there are some obstacles along the way. While walking around the Davao City, I have met Nel, 38 years of age, a seaman. He has big goals in mind, there are struggles but he opts to move forward to grow and become successful.

As a seafarer, Nel has thought that he has enough to start a business. Since the banana industry in Davao Region is booming and very profitable, he has thought of doing delivery of bananas from Davao to Manila. He has made a risk even not completely knowing the mechanism of it and has invested a large amount for it. It has started all pretty well, he takes his profit and there is a gradual exchange of goods from Davao to Manila. He has thought that having this business will help him have more income flow aside from being a seafarer and hopefully to do it regularly to start focusing on land than being aboard a ship.

According to Al, few months have gone and the business has become uncertain. He has been sending money to allow the delivery to push through but unfortunately upon the deliveries have reached the port in Bicol; it has not reached its way to Manila. So, that’s already a loss! He has tried it again but still the same result, a loss! He has not yet gotten any return of investment but more debts has been incurred. Eventually, he has resolved to STOP the business than to continuously hope that the business will still recover and will become abundant, thus he has opted to go back aboard a ship.

With the losses he has incurred, many things has been gone as well. The relationship between his family, relatives and lovelife has been gone. He has too much sadness and already at the edge of depression because of such experience. He has regretted the experience of doing business without knowing its mechanism. He has not anticipated of so much loss that he will encounter in the said business with too much risk taking attitude. He also has shared to me that everything he has sacrificed for the family, relatives and love has been gone because of that bad decision he has made.

In any way, he is trying to pull himself up slowly. He is taking small steps to regain what he has lost. In his words, he said that he is still blessed to have work that can give much financial support. He is also mending the relationships he has lost, too. Even it is not completely his fault, since he is in better position to understand, he humbles himself and accepts the fact of his sad journey.

According to him, he will not do again such a move; doing business without knowing it beforehand. He even has said that he opts to study Master’s of Business Administration (MBA) to further improve his knowledge on how to handle matters about business. He may still have some debts being paid up until now, but good that he has learned a very valuable lesson in life.

Hoping that this story will give everybody a lesson before venturing into a business. It is important that our resources will not be put into waste as our goal in life is to become comfortable in one point in our lives. Consider even those small details about your business plan as something to be addressed and should assessed beforehand to become successful. Equipping yourself with knowledge is also very important. Be strong enough like Nel to face all the challenges even he has fell, he continues to stand up and ready to face the future.

Thank you for visiting my avenue, www.ten7avenue.com. Hope to hear your insights at the comment section.