As of today, too many businesses in Malawi are trapped in a loop of daily survival. A loop in which you are fighting to pay suppliers, cover tax obligations, or to just keep the lights on. But, with a few practical shifts, your business can move from survival to truly thriving. The loop you are in is not your future.
- Know Your Numbers
Most SMEs, in Malawi, fail because they do a lot of guess work in their finances instead of managing them. For instance, instead of; tracking every expense, and knowing their true profit margin, many opt to guess or assume these.
- Pro tip: Stop doing guess work, start doing the actual math.
- Master Cash Flow
To handle cash flow, focus on tracking your inflows and outflows closely. Remember, cash flow is crucial for business success.
- Pro tip: It’s not how much you earn, it’s when you receive it. Cashflow timing is essential.
- Deal with Taxes Smartly
Rule Number one: To ensure smooth tax dealings, work with registered tax experts.
- Pro tip: Keep records monthly, despite working with registered tax experts.
- Don’t Just Think Survival, Think Growth
In order to grow, make sure to plan for growth. For example, you could partner with similar businesses, or even diversify products/services carefully.
- Pro tip: Do not wait for “extra money” to grow.
Survival mode should not be your comfort zone. Survival drains energy and limits your vision. Take small, steady actions each week; review your numbers, manage cashflow, plan for taxes, and chase growth. You do not have to do it alone – Innovative Insights Malawi is here to guide you from surviving to thriving.
Strategize. Innovate. Elevate.
Need help rethinking your finances? Reach out to us today – let us build your business together and unlock your full potential.
Contact us today to discuss your tailored consulting package:
Email: bookings@iimalawi.com
Signed up for keo188bet the other day. Good odds from what I can see. Will check it out when I can. keo188bet