THE EMPLOYER THAT LOST 20 MILLION TO HIS SALES REP - LESSON ON WHY EMPLOYERS LOSE MONEY.

A story ON PREVENTING FUND DIVERSION BY SALES STAFF BY EMENNE IFEANYI THE WISE KANSELOR

The MD of NewLine Pharmaceuticals limited rushed into the office of the WISE ONE and slumped into his chair.

One of his sales rep could not account for over 20 million worth of goods given to them.

The MD was asking himself how he allowed himself to fall into such trap.

The reps concerned could not even account for what they did with the money.

The wise one asked him HOW LONG HAS THIS STAFF BEING WITH YOU?

Two years replied the MD.

The WISE ONE then asked him if he did any training for the staff on PERSONAL FINANCE MANAGEMNT in the last two years?

The MD said NO

The WISE ONE asked him if the staff involved had ever handled up to five million naira before they joined his firm?

The MD said most were fresh graduates and had not handled such sum before.

The WISE ONE asked the MD if he remembered the story of the Talent in the bible where it said

A business man was about to go on a far journey and called his three servants and gave them talents to go and do business with.

The story said that to the first he gave five talents, to the second he gave two talents and to the third he gave one talent.

The WISE ONE then turned to the MD and asked him

WHAT WAS THE CRITERIA THE BUSINESS MAN USE TO GIVE OUT THE TALENTS?

The MD replied,

EACH MAN WAS GIVEN ACCORDING TO HIS ABILITY.

The wise asked him again,

What would have happened if the business owner had given five talent to the one he gave one talent?

He would have buried all the five talents like he did with the one talent that was given to him.

You gave 20 million to someone you should not have given more than one million said the WISE ONE to the MD

The MD now saw clearly his mistake.

YOU DONT LOAD UP FINANCIAL RESOURCES ON A YOUNG SALES MAN OR WOMAN BEYOND THEIR FINANCIAL ABILITY

If you do that, they will waste the resources down to their financial capacity.

If you give a sales rep goods worth five million where his financial management ability is at one million, he will waste the money until it gets to ONE MILLION.

Unfortunately, he will not be able to tell you what he did with the four missing million.

IF YOU WANT TO INCREASE THE FINANCIAL ABILITY OF YOUR SALES TEAM, ATTEND OUR UPCOMING MASTERCLASS TITLED

EFFECTIVE BAD DEBT MANAGEMENT AND CHECKMATING SALES TEAM FINANCIAL SHARP PRACTICES

DATE? 19TH AUGUST 2022