The Eagle and Chicken Chronicles
The Eagle and Chicken Chronicles
From the minute I got the idea to be an entrepreneur, I have always seen my business as an eagle and not a chicken. This is what led me to get it registered as a company, get registration for NSSF and NHIF even when I was the only one contributing, as well as ensuring that my tax compliance papers were always in order. The obvious difference between an eagle and a chicken is that an eagle flies…no, soars above the clouds, while a chicken remains grounded. Any entrepreneur will tell you that their preferred clientele is high-paying, non-haggling and well established. This is the client base that is generally found off the ground as they are already soaring. At the same time, contrary to their words, many of the same entrepreneurs have grounded their businesses, which in turn means that they have no way of getting to their clients in the clouds! This shows that entrepreneurs can sabotage themselves without even realizing it. It’s on this scenario that The Eagle and Chicken Chronicles is based on.
SMERC: The Objective Third Eye
When entrepreneurs come to our SME Resource Centre, we like to hear them out as they speak about what their business is, and the heights to which they see their businesses growing. Usually, we are even able to provide insight on greater altitudes to which the entrepreneur can take their business, even when the nature of that business is seemingly novel like say…selling akalas. In the course of interaction, we make the strong suggestion that the entrepreneur register their company.
I spoke to a young lady recently and she told me that she is looking to secure contracts with a number of government agencies and various offices at the county level. However, when I asked her whether she had registered her business, she responded that she had not. Even as she was responding, she realized that she could probably not be able to hold her own when pitching her business to these organizations; when she did not have the papers to demonstrate that hers is a business that is established and that she can be trusted with major projects. This is also why it is highly beneficial for entrepreneurs to get an outside, objective perspective on their business and this, from an established business owner who has been there, done that, and has the t-shirt to prove it.
Registration: Burden or Edge?
Look at it this way, if you were in charge of awarding a contract or tender, would you be more inclined to award it to an unregistered company that has been around for seven years, or to a registered company: with NHIF, NSSF and tax compliance papers that has only been around for two years? The former is a chicken, while the latter is an eagle. Regardless of how long it has been flying, the important thing is that it has actually been flying.
Many entrepreneurs shy away from getting their businesses registered because they will then be obligated to pay taxes, and their businesses are probably not making any money. If that is the case with your business, then I have good news for you! It is possible to file ‘nil returns’, which basically means that the business did not make any money. And even with this, your business still gets a certificate of tax compliance.
So, if your business is an eagle, let it be so from the beginning or at the very least, from the moment you finish reading this article. See your business today as the huge empire that you would like it to be tomorrow. After all, chicken never grow up to be eagles, eaglets do. Therefore, even when setting off at the most basic stage, set off as an eaglet and not a chicken.
Feel inspired and challenged by The Eagle and Chicken Chronicles above? If so at least the purpose of this post has been served. Keep reading through our website for more inspirational stories.