CONCENTRATE AND FOCUS
Source: freepik.es
A few days ago in the midst of a strong financial shock caused by the fluctuations of the dollar in my country, especially by excessive speculation, my business was affected by a series of losses in terms of capital. Due to the fact that the costs at which the products had been sold were far below the increase in the dollar rate of the following day when I had to replenish the ingredients that are the raw material of my products.
This brought with it a deficit in my finances, because even when in the food business they tell you to triple the cost of the investment to be able to generate income that becomes your saved capital, that is to say, earnings free of taxes and commitments, when these abrupt changes happen in a currency in which your country bases a parallel economy, because it is not the official currency, but all transactions use it and consider it official, which is crazy, everything you had budgeted for is modified and changes drastically.
In the midst of that budget crisis and with acquired commitments I had to invest part of my savings to buy material to work at triple the budgeted value, the problem began when that day when I made the investment in materials I made an adjustment of the costs in the products (which I do not often do, because I am against excessive inflation) and the next day there was a fall in the price of the dollar generating a real chaos in my economy.
In the midst of so much work and a financial crisis that put my business to tremble, because now the cost of materials at the time in which I bought them were higher than the value of the current product, I decided to take a deep breath and take part of the day to generate a new sales strategy that would allow me to replace part of the investment or at least stop my decapitalization.
At that moment I remembered what my little nephew Diego told me in previous days when we were playing basketball and I could not make the ball go through the hoop, he in his love and childish innocence seeing my lack of motivation with his little hands grabbed my face and staring at me he told me aunt concentrate and focus, and you will achieve your goal. Wonderful innocence turned into wisdom.
Source: freepik.es
concentrate: In this part I analyzed which of my products were the best sellers, according to the day of the month considering the following indicators:
-Frequent customer tastes.
-Day of the month in which we were, that is to say, if it was a weekend or a payday.
-Products whose elaboration process did not entail a high cost in ingredients, physical effort and hours of elaboration.
-Packaging and delivery: Products that did not require excessive packaging and delivery costs.
-Products that can be sold in portions.
Focus: In this part of the plan I designed a sales strategy that would give me the opportunity to recover, although perhaps not all the investment, part of it and stop my decapitalization, so I focused on:
-Sales strategy focused on personalized advertising, I decided based on what each one asks for weekly to offer the list of people who are my regular customers a few combos of products that they enjoy with a small gift which consisted of an additional portion with the purchase of a specific amount.
-Advertising in the networks with discounts for the purchase of five free delivery products.
-Selling the products in portions, one of the things I have learned in the candy and food business is the creation of variety packs, which I like very much with small portions of several of my products and that are accessible to customers.
I must tell you that it was an excellent week where I not only managed to recover the capital invested in the products made, as well as stop the imminent financial collapse that the economy little stable, I did not have a big profit but knowing that I have capital from my venture and the recovery of the materials allows me to be at zero debt with a small balance in favor and with resources to produce my profit next week. So to all those who have their ventures I say concentrate and focus.
hello @emimoron,
simple is best, human beings are used to achieve goals but if we make our goals something complicated the work becomes confusing and this makes us feel bad, that's why maintaining focus is something you have to learn to do if we want to survive as entrepreneurs, greetings.
I totally agree, sometimes we complicate our lives with things that happen to us unexpectedly and can take us out of concentration and make us lose our focus. I think that the most important thing and what all this taught me was precisely not to despair and to concentrate on what is really important.
Hi @emimoron
"Because the costs at which the products were sold were well below the increase in the dollar rate", unfortunately this is the reality that most affects the people who still bet on Venezuela, as their businesses are extremely affected by the inexplicable variations of the dollar, very smart words from your little nephew Diego.
PS: I liked your logo with the flag of our Venezuela and the heart with the expression "I´m a Project.HOPE".
Best regards, be well.
Thank you very much for your comment. I give the best of myself every day and these months have been really hard but this month of May is a total madness, a simple example, on Saturday for the business I bought a carton of eggs at 3.6$ a carton, today Monday morning the same carton of eggs went down to 2.70$ which for me means losses in the weekend sales, this cycle keeps us in a real stress hence the need to focus and concentrate. And that image came to me after some comments about PH that I consider malicious for me really this community is a place of growth and learning and I feel like this is a hope project because being here has allowed me to have a new horizon.
There is no doubt that when we are concentrated and focused our work can perform and be more efficient.
Greetings and thanks for sharing.
And it is a strategy that fits perfectly in all areas of our lives. Thank you for reading
Wow, according to what you clearly mention that it was a great and hard blow to your pocket, it is a way where your company is undercapitalized, since in some way once your business is up and running, you must replace raw materials to continue in the game .
Certainly this loquera that is lived in our country affects us everywhere.
It is really impressive that this month of May has been very tough, I commented with a small example to another member that on Sunday I bought a carton of eggs at 3.6$ (this is one of the main expenses when you make sweets, desserts and meals) and today Monday it is down to 2.7$ for no reason at all everywhere. It's really crazy stuff that keeps us in constant stress. Well for me that means that from the weekend there is no profit having bought products at a higher cost and now they go down drastically.
I must say, even the title of this post contains a very strong message. The world is already filled with distractions, so we need an extensive amount of focus and concentration to scale through.
Nice piece buddy
Thank you for reading and commenting, there really are times when bad situations distract us from our goals, even the very good ones, if we want to have a successful business or a prosperous life we must concentrate and focus to achieve the objectives.
I understand you @emimoron, and believe me when I tell you that I understand you, it is to admire the maturity with which you face to create a work-life balance to achieve their goals, I also decided by the vagaries of life to start a business, and it is a headache to deal with daily prices, we all aspire to be successful people, only that there are moments where we lose concentration and focus. Nice piece.
The strategies applied seem very good to me, especially when taking into account the tastes and needs of the client, the variety and the gift by preference. I suppose that currently one of the most complicated services is delivery since fuel, time to load and speculative payment in dollars must be taken into account, depending on each case.
Good luck in business, it was a good sample of entrepreneurship and investment.
Regards, @emimoron
Really nice and i must confess that i really picked up lessons from this post, glad you didn't givebup on your business because of the bad economy see how you have been able to recover and now you have a better experience.
Thank you very much for taking the time to read. It is not easy to think of solutions in the midst of the crisis that day I learned a valuable lesson that I now apply not only in business but in all aspects of my life.
hello @emimoron Excellent advice, concentrate and focus on the goal, I know very well is not an easy task, but it is something that we must put into practice every day, especially in our country ... thanks for sharing !
Both this are very important in life you have good concentration and focus on your work and business you will always get success in your life just you need to give dedication in your work with full energy.
I totally agree, in everything we do we must focus our energy and concentrate on the objectives set. Nothing is easy but the most valuable is achieved with hard work, dedication and perseverance, all this is achieved if we are focused on what we want to achieve.