User:Claytonfisher07/sandbox/Clayton Fisher's lessons of entrepreneurship

Clayton Fisher's lessons of entrepreneurship Lesson 1 in business, always put it in writing ...

I am the youngest of 7 children who grew up in Boksburg, Gauteng, South Africa. I was born in Germiston on the 3rd November 1991. I grew up in a middle class suburb and matriculated from a government school in Sunward Park. My father, Alan Fisher worked extremely hard as an entrepreneur to provide a good life for his household of 9. His father set the example for me to follow in the business world. In this write up I will share a few of the lessons that I have learnt that assisted me in being an entrepreneur in South Africa.

Lesson 1

I left school and started working for a curtain shop in springs at a daily wage of R50,00, that is equal to $3.30. After working at this rate for 3 months ,I approached the owner of the business with a proposal to be a subcontractor for the business to streamline their installation processes. This arrangement would save the business money and protect their reputation as the full time employees were continually making costly mistakes that negatively affected the business finically and with regards to damaging their reputation. The owner agreed verbally and the plan was put into motion. Once a sale had been confirmed, it was the duty of the subcontractor to go out to the client, measure, relay all the relevant information for manufacturing that was confirmed with the client on the site visit, return to the site for installation. Any mistakes as mismeasurements, wrong colour, or damages to the clients property was for the bill of the subcontractor, therefore the subcontractors would pay attention to detail and workmanship which was the opposite from the full time employees that were paid minimum wage who would not care as no matter the effort they put in their wage would not increase. The additional money paid out to the subcontractors was for the clients bill and therefore the business would not be making a financial lose as their pricing structure was including installation with a lead time of 3-4 weeks or the client had an option to pay an additional 15% to have a subcontractor out within 24 hours, this resulted in quicker installation process with reputational benefits. About 90% of clients were happy to pay the addition for the speedy installation. At the end of month one Clayton handed in a statement for payment of just over R25,000.00, bare in mind the overheads I still had to pay such as petrol, tools, consumables and wear and tear on my vehicle. At this point I had learnt one of the most valuable lessons in business, Always put it in writing'Italic text'. As there was no signed agreement, the owner reverted to my old contract and paid me R50,00 for the days worked, this was a massive loss as the R50,00 per day wage did not even cover half of the overheads I had incurred. After this I had a resolve to never work for anyone ever again. I would make my own living. I was determined to do it on my own, later I learnt that no man can succeed on his own, we all need others in business, from competent staff to ones clients, no man is an island. That will be discussed in the up coming lessons.

Lesson 1 in business, always put it in writing.