What’s something about running a business in Zambia that you only learned after starting one?
I’ve been running a business for a while now, and one thing I’ve realised is that there’s a huge difference between knowing about business and actually running one.
Before starting, I thought the difficult part would mainly be getting customers and making enough sales. That’s obviously important, but there are so many other things that you don't really understand until you're responsible for keeping the business running.
Things like managing cash flow, dealing with suppliers, customers delaying payments, unexpected expenses, employees, taxes, negotiating prices, keeping enough money in the business instead of spending it, and sometimes just figuring out what to do when things don't go according to plan.
Some months can look good on paper but still feel tight financially.
I'm curious about other Zambian business owners:
What’s something about running a business that you only understood after you actually started?
It could be something small or something that completely changed how you run your business.
What did you underestimate?
What mistake taught you the biggest lesson?
What do you wish someone had told you before you started?
And if you had to start again with the knowledge you have today, what would you do differently?
I think these are the kinds of lessons that are more useful to people thinking about starting a business than the usual “work hard and believe in yourself” advice.