No financial records!!!?…that’s stone-age business practice!

courage-compu.jpgI once asked a business owner how much profit or loss he made in the previous year. The expression I saw on his face was typical of a mathematics class where a student is asked a question and the question becomes a serious source of confusion to the student.

His answer was expected – “honestly, I don’t know.” I asked him that question because over the years that I have known him, I have never seen him record any of his sales (I belief the same happens to the other transactions). If he does not record his sales, it will be a miracle if he is able to tell me how much profit(or loss) he made last year, or any other time for that matter.

I have also witnessed him taking delivery of stock items. Similarly, he does not use to do any recording. I call this “stone-age business practice.”

Refusal to keep record of financial transactions is common place especially among small and medium scale enterprises. Usually, their excuse has always been the same – lack of funds to employ an Accountant. This is partially true. In addition to limited funds, experience has shown that the unwillingness to separate the owner’s private purse from business’ purse makes the need for too much recording unattractive.

Another reason is the convenience that comes with not keeping proper records – just sell and dump the money some where; and simply spend without stressing your self to do any calculation or recording.

But these are surmountable. As for the problem of cash, the business owner can outsource the accounting work to an outsider, without necessarily having to employ a full timer. All that the Accountant would do is to prepare accounts that reflects the near-status and needs of the business/owner.

As for the second problem, I have always stressed the fact that a business whose purse is inter-locked with that of the owner would definitely experience retarded growth, conflict of interests/priorities, occasional financial challenges on both ends and even collapse in severe cases.

As for inconvenience, a simple book keeping (recording of financial transactions) practice is a good starter.  More complex recordings can then be introduced over time.

As I moved around everyday, I see so many business that have either remained the same year in, year out, or are just struggling to stay afloat. Get close and you discover that their likely problem is mostly reckless and i-don’t-care financial management attitude !

But the fact  is that good financial record keeping assist businesses to :

*determine profit or loss
*determine the profitability or otherwise of products traded upon
*plan ahead
*monitor and control expenses
*forecast sales
*monitor quantity of stock items
*determine total sales value
*determine the amount of debtors and creditors
*determine the total value of assets
*run costs-benefit analysis for proposed investments
*monitor your income and bank account(s)
*reconcile cash book balance with bank statement balance
*check fraud
*prove their seriousness to customers and other stakeholders.
*negotiating with workers on salary/wage increases….the benefits are endless.

What a business owner loses by not keeping proper financial records is simply the reverse of what you have read above.

No doubt, the consequences of not keeping proper records greatly outweigh the “benefits” of not keeping proper records.

So, my advice ? This is the 21st century. Move with global business trends. No matter how small your business might be.

Thanks for your time.

Related posts:

It pays to separate your private purse from your business’ purse

First impression in business

Business start up 

Small business’ practices and the issues of stagnation and collapse 

Decision making : The most far-reaching function of a manager


Let’S Talk About Sex !!!

Condom 2Hmnn. I am very sure I got an ”extra” attention from you on seeing the title of my post. Read on….

Last night I watched a TV Show that addressed a topic very few people, especially mothers, like talking about in public. And that is SEX (sexual intercourse) !!!

It also featured a short drama where a mother told her friend that her daughter asked her about sex. The friend, who did not like the development, said she hoped that the woman (the mother of the girl) cautioned the daughter. She said she did. The girl was thrown into confusion thereafter. If the mother cannot talk to her about sex, then who will.

This programme took me down memory lane. There is this friend of mine I met years back. In the course of one of our discussions she told me she lost her virginity at the age of 17. I asked her if she was not afraid of pregnancy to have fallen for the temptation. She said the boy told her that sex for the first time cannot lead to pregnancy. I asked her if her mother did not teach her about sex, pregnancy and related issues. She said her mother had never discussed such issues with her before. She said the mother used to call her a “small child” anytime she asked her questions relating to sex and relationships with boys. All she knew about sex and related issues came from mainly her friends and her biology teacher who was so shy all through the time he taught them “reproduction.”

So, it’s simple. If you do not teach your kids about sex and other facts of life, you leave them with no other alternative than to get their lessons from outsiders. One of such likely lessons is that a girl cannot get pregnant if she’s having sex for the first time. What a lesson !

A word is enough for the wise.

Thanks for your time.

Related posts:

The dark side of condoms

The dream killer called ”teenage pregnancy”

Parental ”bullying”

Building a strong relationship with your child 

Parent-child relationship gone awry

It’s Just A Mere Dream ?

Image courtesy Danilo Rizzuti/

Image courtesy Danilo Rizzuti/

Hi. I had a very good experience in church yesterday. Aside from the usual prayers, praise and worship, the sermon delivered by the guest Pastor talked about a very important topic – Dreams !

It is no news to me that God speaks through dreams. What really made it special to me was that it further made me to take my dreams very serious, whether it is good or bad. Now I cannot hear myself say its “just a mere dream.”

God has spoken to me many times through dreams, most of which eventually came to pass. Actually, they were just revelations by God requiring appropriate actions. I once had a nightmare concerning my son. We woke up, he went to school, and the dream played out like a movie script. My only saving grace was the fact God had already revealed it to me the previous night and I disturbed God with prayers. My son was guarded by the angels of God. Praise God !

I belief in dreams. For me, a dream is not “just a mere dream.” Some dreams are intended to tell you what God wants to do (Gen 41:32 ), reveal things to you (Jere 29:8-9), speak to prophets (Num 12:6), explain a mystery to you (Matt 1:20-21), reveal your coming promotion (Gen 28:12-15, 37:5), or warn you of an impending danger (Gen 20:3-7). There are so many other biblical instances of where God spoke through dreams.

In some cases, the devil and his “disciples” use dreams as a medium of attack. There are cases of one being fed in the dream and sickesss or death follows afterwards in the real world. There have been cases of sexual intercourse in the dream resulting into miscarriages, delayed marriages and sometimes death in the real world. There have been cases of one falling down and sustaining injuries, only for one to be involved in a ghastly motor accident eventually – all because they treated the dreams as “mere dreams.”

Dreams are supernatural, spiritual and scriptural. So, when next you have a dream, take it to God in prayer, especially if its a bad one. Better still, see someone who can interceed on your behalf. God must be brought into the picture – whether it’s a good one or a bad one. God has the ability to bring good dreams to pass and equally cancel bad dreams !

Please do non’t say “its just a mere dream!”

God bless us all.


Related posts :

God speaks in so many ways

God’s wisdom

Lord, have your way…



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It Pays To Separate Your Private Purse From Your Business Purse

I have often been accused of allowing my Accounting and Business Management background to affect me in the way I reason, plan, and generally take decisions. One of the most popular being my often critical analysis of expenditures. They say those who have accounting background are stingy. Awww. That’s not fair !

Well, I have always argued that the quality of my actions and inactions, rather than my background, should be of top priority.

I once had an issue with a thriving business owner many years ago. It had to do with a 31-point memo I issued him upon his request. I actually did a business survey for him as he was experiencing a lull in his business. He was very impressed with all but one of my recommendations – the one that had to do with proper financial accountabilty.

I was of the strong opinion that one of the strongest enemy of his business growth, and the number one reason why his business was facing difficulties, was his refusal to strictly follow the “business entitity concept.” So many businesses, especially the SMEs (small and medium scale enterprises) are grappling with this problem.

This is an accounting concept that requires a business owner(s) to see himself as being different from the business, and that the Accountant should treat them as such. It sounds stupid for someone to tell you this. Isn’t it? Well, this is a major problem for countless businesses across the globe.

It was no surprise to me later when I heard that the company later developed serious financial problems, so much that they could not meet up with jobs given to them. Settling bills and payment of salaries became impossible and at the tail end of its crisis, the company went underground. It collapsed !

All the owner needed to do was to separate his business bank account/purse from personal bank account/purse. It also required strict recording of ALL financial transactions. That way, he would have been in constant touch with the realities of his business, and thus be able to know when he can and should not “deprive” the company of scarce business resources. It simply required financial discipline. Sadly, he was very comfortable with “the system that puts all the money on his table”.

What this translated to was for him to fix a particular amount that he can draw as salary. Salary ? Yep ! Every other money then belonged to the business – his business! Sounds odd, but financial discipline is one of the major secrets behind the enormous growth experienced by most businesses. And certainly, financial indiscipline or recklessnes is a major reason why so many businesses are experiencing stagnation, slow growth, fianancial stress and in extreme cases, business collapse!

So its a matter of choice ! Financial discipline Vs Financial indiscipline.

Thanks for your time.


Related posts :

Small businesses practices and the issues of stagnation and collapse

Decision making : The most far reaching function of a maanger 

Outsmart your competitors or they will kick you out of business


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God Speaks In So Many Ways…

“Many years ago, while I was still struggling to pay my school fees, an old man met me and said: “One day, you will travel abroad as often as a woman goes to the market”. I looked at him and received it. “Yes sir, thank you”. Although it appeared too incredible to me then but today, I spend more time abroad than I do in Nigeria.” – (Pastor E.A. Adeboye, General Overseer, Redeemed Christian Church Of God).

You just never can tell when and how God will speak to you through someone.

With God, impossibilties does not exist and He speaks through whoever and however He pleases…..that is why He is God !

So when next someone says “you look rich.” Simply accept the “prophecy,” even though you are not sure of where the next meal will come from.

Do have a blissful weekend.

Pastor E.A. Adeboye with his wife

Pastor E.A. Adeboye with his wife

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Papa Was Not A Rolling Stone

Image courtesy photostock/

Image courtesy photostock/

Remember the classic by The Temptations : “Papa was a rolling stone. Where ever he lays his hat, was his home?” Well, if you are as “young” as I am, you should. I came across the song and remembered my dad of blessed memory. I only added the word “not” cos my papa was certainly not a rolling stone.

My best moment everyday is having a good time with my family, especially my two adorable angels (a four year+ and 7 months+). Weekends are spent together and outings are done together. Weekdays, after work, we play together and share what I bought for them. For me it is always a great stress reliever after a hectic day. My kids always enjoy those moments a lot too. Even my 7 months+ angel displays so much excitement when she sights me on my return from work.

For me, I prefer this fun to eating and drinking my stress away in a bar or any other joint. Different strokes for different folks you might say.

There is always an origin for everything we do. My dad was a real family man – comes home straight after work. No drinking. No smoking. No womanising. No late nights. Does not sleep out. He provided for the family within his resources and made his family his number one priority. He was a real father in the real sense of it. My dad was the best. His life style brought peace to the family and we were a source of envy to those who were even better than us financially.    

I got the inspiration to do this post when I heard the very sad story of a married man who was a real rolling stone. He drank, smoked, womanised, kept late nights and sometimes, without telling his family, sleeps out. He sleeps where ever the night and “fun” catches up with him. And when he choses to go back home, he is so drunk to play his role as a father, and of course, as a husband is wishful thinking. There is hardly a day a fight does not take place in their home. And after the fight, he would go for days without a trace. This papa is a real rolling stone!

To make matters worse, he has always refused to provide for his family, even when he could afford it. In fact, you will see it on the children especially, that they lacked the care and love of a father. Otherwise how do you interpret a situation where he tells his friend to always lie to his wife that he is yet to be paid his salary. 

One obvious consequence in all of this is that his family is really in a bad shape. I pity the family a lot, especially the kids. 

Well, I just want to thank God that my papa was not a rolling stone. Cos if he was, there is the strong likelihood that I would have been one too. And my family would have been going through a similar ordeal as this man’s family. And by extension, my life would have been a true reflection of a troubled home. 

Sent from my BlackBerry® wireless handheld from Glo Mobile.

Related post :

Building a strong relationship with your child

Parent-child relationship gone awry

Divorce and separation : The fate of children

A Humble Woman….

My dearly beloved late sister

My dearly beloved late sister

A humble lady is like a sweet-smelling rose flower. She is a sight to behold. The way she talks. The way she smiles. The way she greets. The way she moves. The way she laughs. All radiates humility.

A humble lady is every man’s, and indeed, every body’s desire. Her presence makes you happy. You want her around always. You love being where she is. Her words soothes your nerves.

Even when she’s the one that is hurt, she still deems it necessary to apologise to you. Not because she is foolish, but because she has so much peace and humility in her, that quarelling and malice cannot survive inside her.

At home as a married woman, she is a loving and caring wife and mother. Her presence forces peace to reign at home. She is a very good role model, especially to her daughter(s).

Any man who maltreats a humble woman is not fit for her. Simple !!!

God loves humility. 2 Sam 22:28 says : “You save the humble, but your eyes are on the haughty to bring them low.”

And in 1 Kings 21:28-29, the Bible says: “Then the word of the LORD came to Elijah the Tishbite: “Have you noticed how Ahab has humbled himself before me? Because he has humbled himself, I will not bring this disaster in his day, but I will bring it on his house in the days of his son.”

Everyone and God almighty loves humility. For me I cherish a humble woman a lot.

Thanks for your time.

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God’s Wisdom

when GOD is  involvedGod’s wisdom will prevail in any situation that you may face. You just have to harken unto the voice of Jesus and respond to the situation with wisdom and not anger.

Anger with sin will lead to destruction, but wisdom will cause you to make sound decisions before sinning in anger.

Know that wisdom from God will aide you in all of your dealings and negotiations.

I rely so much on the wisdom of God who knows the begining to the end of all my undertakings. So, this takes care of regrets and unforeseen circumstances.
It also assures me of excellence cos God is perfect.

Do same if you have not been doing it. You will never regret it.

Say to yourself : “My mouth shall speak wisdom; the meditation of my heart shall be understanding.” (Psalm 49:3)

God bless you…and me too.

Thanks for your time.

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Pride Stinks !

Image courtesy imagerymajestic/

Image courtesy imagerymajestic/

She’s 37, single, makes good money and can arguably, beat any lady for a Miss World pageant. Her beauty glows such that the most disciplined man would turn his neck just to catch a glimpse of this symbol of beauty. In terms of looks, she has it all – height, complexion, eyes, right curves and other natural endowments that makes a lady “tasty!”

Her spoken English is excellent. Her accent is melodious. She’s every man’s dream girl. Note my choice of words: I said “dream” girl. That is because it is only in my dream that she can be in my choice. In the real world, I can never desire her in my heart. That’s surprising isn’t it? Yeah I know.

Why? Wait for it…she’s the most arrogant and proud lady I have ever come in contact with !!! Her pride stinks ! Despite her wonderful endowment, its been very hard for her to have a lasting relationship. Its a case of come-see-and-run! She has no regards or respect for anyone, irrespective of the person’s age. Once, she “washed” an old man down with very derogatory remarks. She hardly greets first. She expects you to greet her first. Even when you do, she feels reluctant to answer. She looks down on people especially ladies who are not as “pretty” as she is. She is so rude that even her parents constantly fall victim of her “serious problem.”

She talks and moves like the President of the world. She said she can never apologise to a man. Wait for this…she said she cannot imagine herself sweating in the kitchen to cook for a man or wash his clothes.

Now you see why I can never desire her even in my dream. Marrying her is like marrying high blood pressure ! How long will I survive the marriage ?

I am not alone on this. God hates pride. 1 Sam 2:3  says “Do not keep talking so proudly or let your mouth speak such arrogance, for the LORD is a God who knows, and by him deeds are weighed.”

In 2 Chron 32: 25-26 the Bible says: “But Hezekiah’s heart was proud and he did not respond to the kindness shown him; therefore the LORD’s wrath was on him and on Judah and Jerusalem. Then Hezekiah repented of the pride of his heart, as did the people of Jerusalem; therefore the LORD’s wrath did not come on them during the days of Hezekiah.”

There are many places in the Bible where pride is outrightly condemned and punishment meted out to the proud in some cases.

Well, different strokes for different folks. Some guys will die or do anything to have this kind of lady. Such ladies are every where. Perhaps you know one (or more). I wish them lucks. For me, pride stinks….real bad !

Thanks for your time.

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