Doing What One Doesn’t Like Doing

Entrepreneurship like doing what they do, which is to make or repair goods, buy and sell products, or provide a service – in short to conduct business.

What they do not like is to attend to the ‘paperwork’ associated with conducting business.

This applies to most of us, as most people don’t like to do what they should do, even if it is important.

For example, we might prioritise purchasing unnecessary items while neglecting to file annual tax returns, despite the risk of penalties. Similarly, we might delay seeking medical assistance when health issues become apparent.

Despite their importance, entrepreneurs dislike and shy away from, or pay scant attention to, the administrative side of their enterprises.

All too often, entrepreneurs pay little attention to putting agreements in place that govern their relationship with partners and employees.

Despite knowing the fiduciary and legal importance, neglecting to keep records and books in good condition and failing to comply with laws, regulations, and statutory regulations will lead to the demise of a business.

After all, money is the lifeblood of a business, isn’t it, regardless of the size of an enterprise and the sector it operates in?

As the adage goes, look after the cents and the dollars will take care of them themselves.

To address this dislike for administrative, financial and compliance matters, a deficiency that will hamper the development of a business, in 2006, together with Claudine Mouton and Collin Kakuva, we founded an entity to help novice and emerging entrepreneurs overcome this fear of paperwork.

Over the past two decades, we have developed a comprehensive business skills development programme, which includes regularly hosting events and activities that emphasise the importance of prudent cashflow management, demystifies bookkeeping and recordkeeping, and encourages compliance with laws and regulations.

Naysayers and prophets of doom say, given an entity’s business and funding model that specifically does not depend on handouts but is rather based on sound business principles, the entity wouldn’t last two years.

Nonetheless, there have been numerous challenges since we founded the social entrepreneurship organisation 19 years ago.

This often caused the two directors to rely on their own resources and make personal sacrifices to keep the enterprise afloat.

Efforts to always deliver on the stated mandate – assisting Namibian entrepreneurs on the way up – included tightly controlling operating expenses and occasionally running to the bank for an overdraft.

Since the entity’s launch 19 years ago, not a month has passed where staff did not receive their salaries, taxes and other statutory bills were not paid, or payments to suppliers and service providers were delayed.

A benefit derived from tackling tasks one dislikes is that it helps build resilience – the ability to bounce back from challenges and problems.

It is not only the right thing to do, but by pushing ourselves to do the things we don’t enjoy, we demonstrate discipline, which is an essential skill for all aspects of life and a necessary trait for entrepreneurs striving to succeed in business.

• Danny Meyer is reachable at danny@smecompete.com