Often, it’s too late to do anything…
When it comes to keeping your tax records with the Kenya Revenue Authority (KRA) up to date, being proactive rather than reactive is normally the difference between smooth business operations and receiving that dreaded knock on your door or tax demand notice that could be responsible for several sleepless nights.
Most salespeople do not see beyond the invoice they have produced! When coaching sales teams we often hear:
“I just closed $20,000 worth of sales this month but my salary still remains unchanged.”
Companies go bankrupt because of a lack of cash to meet critical obligations, not because of a lack of profits. You can run the most profitable firm in the market and still go out of business because you cannot pay salaries or rent! You have invoiced enough revenues to probably buy a brand new house, but your client will only pay you a few months from today.
In traditional environments where commission schemes are based on revenues, salespeople have only goal: “Selling at all costs”. When salespeople are “desperate”, they find a number of unprofessional ways to close the sale.
One day you might sell your business! Question is; can your business survive without you? If your answer is NO, then you have nothing to sell.