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Common Financial Mistakes in Your 20s | TikTok

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Script ID #347
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Excuse me sir. Sorry to run about you. I'm Kate. Yes. Blame nice to meet you sir. Sir we did have one question for you. But was the biggest loss you've ever taken in your career? Your state of the bad guys. I think I resigned to my corporate job and I opened up this business. So that was probably about eight years ago now. I used to work in corporate. I had a degree in civil engineering. Sir, my friend and I got on into ring success for people like yourself. Do you have five minutes to spare for a quick conversation? Yeah sure. Perfect. So that brings me to my first question. What do you do for living? So I've got this business which is carbon rose here in Johannesburg and I've got another branch in Cape Town which is carbon rose in Cape Town. And these guys doing the dates is about solving problems and making sure things are running smoothly and also making sure you start to pay the little months. So what are some hard truths about entrepreneurship? When you don't have funding or you don't have people backing you, it's difficult. And nothing happens overnight. So you've got to look at scaling slowly. Cash flow problems are the biggest problems to young businesses and young people these days because that's what makes you a breakthrough. But you've got to budget yourself, you've got to plan properly and you've got to just be one percent better than you were yesterday. That's all you've got to be. And so what's one big business lesson that you've learned being an entrepreneur? I'd say, differently in KGT, like integrity matters like your word and keeping up to your word and also after sale support. People really appreciate that. At the end of the day sometimes you might not have the best product or you might not be the cheapest. But if you give people good service and you give them good after sale support and always take care of your clients, people will always return to you. So if there's a problem, always sort out the problem, but run away from the problem. And so what are some big mistakes that you think people in the end of the year are making right now? People are chasing instant gratification. So you can't be comparing yourself to people who aren't running the same races. And I think mistakes people are making also is, I might be the smartest person in the room. You might be the smartest person in the room. You might have, you might not be the smartest, but you are the most outspoken person. You're going to get more business than both of us. Whereas we distribute parts and we didn't want to do it out of fear of rejection. Don't fear rejection because if you try 100 times, you're going to get rejected 99 times by the one time some of them accept you.