Faltering projections in businesses are some of the worst challenges that an entrepreneur has to battle with all through his stay in the business stream. When young or even the old business people, not by age but by the experience, are able to scale through the challenges of faltering projections then they are on the way to huge and probably inexplicable success. From the inception of the businesses that I run I work a lot with proposals and that means the businesses involve other people and in a number of cases their funds.
When the funds are being requested I must say it is because there are some projections that look so real and undeniable for anybody to tap into but as soon as you have the funds sometimes, it looks as if those projections that were so real and undeniable are beginning to evaporate so quickly that you can barely see the convictions you almost could touch. At this point the fears of any business person would begin to vacillate in every of his thoughts and he might just think he would not survive the ordeals of the moment. I have had some days when it looked as if things got so bad that I can’t afford to make a phone call. Sometimes in a way to encourage myself I laugh over the fact that I have someone I can call who will give me about N50, 000 but there is not N500 to make the phone call that can fetch the N50, 000.
On several occasions I made some projections and negotiated funds with other people with the sincere intentions that things will work out and that the funds would be returned. One of such faltering projections was an amount of money I borrowed from a close relative because I was expecting a cheque from a big educational institution and I had thought the institution was going to pay within a month or at most two. One month dragged into two and then into three until it was six months before I finally got the cheque.
At this point my integrity with some associates was at stake. I sounded like a liar even though I was telling nothing else but the truth. It’s even worse when they know you so well and know what you are really worth. They know you have influence to an extent and they begin to wonder why it seems pretty difficult for you to release an amount of money that should not shake your bank account.
I have made some projections based on the kind of products I had on hand. Up until the time the products came up, I had some people say so enthusiastically that the product would be a hot cake and that you just need to go for it. When you get it and you expect those advisers to patronize you all you get is a “well done boy, you eventually got it done.”
Faltering projections have shaken me as an individual in business especially when you make seemingly realistic projections and the reality seems to be far from reality. In the first place, you would begin to think, if the projections did not sound realistic the people who let go off their funds would not but there is not tenable excuse before these same people any longer. The only thing that would be tenable would be results from the discussions that you have had.