Lessons from running my family business at 2x; The End

5 months ago, the journey began. So far so good, I've been able to learn a lot of lessons.
I'll be taking to my personal life and career from now.

I am going share a fraction of my discovery on familiarity and some other things

I discovered lately the effect of excess familiarity on business.
Familiarity is a good thing for a business to thrive.
Too much of it does what Biochemists call Reverse Inhibition. (I'm a Biochemist :-))
This is when too much of the product of two reactants inhibit the reaction. (Lay man's language)
When you get too familiar with employees, co-workers and clients, you will be expected not to do the right thing.
Co-workers will expect that one cut corners for them or that one overlook irregularities.
Employees expect you to keep shut when they make mistakes.

This ruins business faster than you can imagine.

They expect that you provide free services, some decide not to pay the right price and they even talk ill of you when you act right.
Some are sincere. They just can't raise the money. This is understandable but business runs on money. It will crash without their financial input.

I think its peculiar to doing business in my environment though.
I pray that God provides for all our clients and employees including me. We all need money.

I stepped on many toes. Most of which were unintentional.
I hope they forgive and forget.

I did these alongside my sister
Information System
So far, so good, I have been able to restructure the information system of the school. Proper communication lines have been established and a website has been dedicated to market the business and disseminate information to staff and clients.

Financial Records
I've also been able to develop a computerised financial system where all income and expenditure can be properly monitored.

Documentation processes where a bit old-school. I have been able create folders and docks for important files and created a digital record of all documents that require making copies frequently.

Office Structure
As it is that my mum is a jack of many trades, she had 4 offices in one literarily. I couldn't have doe these without my siblings and the employees.
We restructured some large furniture and made them into shelves.
We kept irrelevant files and materials in the store and made the office as beautiful as possible.

I'm going to use the knowledge I have had so far.
With my lessons, I'm sure I have developed good communication and people skills.
I appreciate everyone who worked with me and my sister; everyone who gave advice; and everyone "thank-able".
Over and out!!!


Rally Trade Allows You To Trade In Naira

Rally Trade

Hot Forex Security

HotForex Security