Rogue clients were my biggest business risk
By ANNIE AWUOR | 2 months ago
Nancie Amunga runs Dana Communications Limited which offers logistics solutions and corporate deliveries:
When I started my business in 2015, I did not know anything about the risks attached to running a logistics solutions and corporate deliveries business.
In fact, I thought funding was what would get me in trouble. But now, a couple of years in, I have discovered that one of the biggest risks that my business faces is in logistics.
For example, I may deliver goods to a client unaware of the fact that this person is a crook. We had a case where one of our riders delivered a laptop worth Sh100,000 to a client who upon meeting, sprayed some substance on his face rendering him unconscious.
By the time he regained consciousness, the client was gone with the laptop and was nowhere to be found. That was Sh100,000 gone down the drain.
We also had a woman who would make orders online and upon delivery, she would ask to try the outfit, but would disappear through the back door without paying.
Then there is the issue of people using other people’s bank cards to place orders. Unfortunately, to the best of my knowledge there is no law that adequately protects the card holder and the business.
I learnt the hard way that the best step to manage this type of risk was taking insurance. We now insure all goods, including things that might be stolen by employees themselves.
My advice to anyone who wants to be an entrepreneur is that although there are risks that you only learn about once you start a business, there are those you can identify even before starting.
Do your research and learn all you can about the business you want to invest in and figure out what might interfere with your profits and take the necessary measures.
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