I had a meeting with my former dealer today. We settled her accounts payable to us. Her purchases started on April until July 2010, which amounted to Php 96,950. And take note, she had never paid a single cent. I admit, it was our fault. We trusted her since we are friends and business associates. If we could only turn back time, we should have not lend her anything.
To make sure that we can set legal actions against her, I made new sets of "Trust Receipt Agreement." I made a clear and clean copy of TRA. FOr those who do not know, TRA is basically used to make the dealer/networker to pay for each and every items that he borrowed from you. Most people has a notion that nobody's been imprisoned because of debts...
Well well, not this time peeps. The trust receipt agreement is very much valid to get a person arrested and imprisoned. All you got to do is to keep the TRAs intact, clean and filled-up clearly. You have to file a complaint against the dealer involved in local courts. They have a room that accommodates this kind of stuff. After all the legal matters, you can even accompany the authorities to arrest your dealer. If the dealer wishes to settle the account, he/she have to pay the gross amount or the amount stated in the TRA. In addition, he/she also has to pay for the legal costs.
So, next time you encounter this situation, be sure to always use the TRA for your protection.
Business Management 101
After months of hibernation from our direct selling/networking business, today is the start of rising up... After all the failures that I mentioned in my previous post, I have finally made my feet stood up to strive more to succeed.
Do you want to know how will I do it? Well, i had months and months of mind setting and self-motivation. I tried not just once, but, countless times to get back on the business and make it profitable. However, these countless times never seemed to work. By that time, the idea of failing haunts and hurts me deep. I just realized that one of the main reason for not recovering instantly is fear... fear of prejudice...fear of not making it right for the second time. These are just normal reactions, right? But, it took me months to accept it. I guess this is still normal, tho'.
This post is titled "Business Management 101" basically because this will be the beginning of our reborn business. I may have not studied business management academically, I believe that my experience provided me more lessons learned.
From now on, I will be sharing with you my daily steps towards my goal. We all learn together! :)
Do you want to know how will I do it? Well, i had months and months of mind setting and self-motivation. I tried not just once, but, countless times to get back on the business and make it profitable. However, these countless times never seemed to work. By that time, the idea of failing haunts and hurts me deep. I just realized that one of the main reason for not recovering instantly is fear... fear of prejudice...fear of not making it right for the second time. These are just normal reactions, right? But, it took me months to accept it. I guess this is still normal, tho'.
This post is titled "Business Management 101" basically because this will be the beginning of our reborn business. I may have not studied business management academically, I believe that my experience provided me more lessons learned.
From now on, I will be sharing with you my daily steps towards my goal. We all learn together! :)
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