Entrepreneurship

Entrepreneurs: Be Brave & Let Go of That Big Unprofitable Client!, by JORAM MWINAMO

 

 

Be Brave
I have worked with many entrepreneurs for over 10 years now. And I have come to see a trend that many of us seem to believe grows our businesses while in actual fact, it may cause a lot more harm than good to our growing enterprises. I have occasionally fallen prey to this trend myself. That trend is that for some reason, many entrepreneurs strongly believe that killing yourself to have that big brand company as a client is good for growing a small business.

HELP! My Cash is Stuck at Chase!

HELP 1

 

Dear Chris,


I am an entrepreneur who runs an SME and I was banking with Chase Bank (the only account I have by the way). My clients who had held my funds for over three months had just issued me with a payment this Monday by RTGS. I was paid KShs 2.5Million and on Tuesday I wrote a majority of my suppliers their payment checks as I had promised them and they picked them on Tuesday afternoon. Today they have called to ask for an alternative settlement now that their banks have declined to accept Chase bank checks. What should I do? How soon can I expect my funds to be available?