17/09/2026
One YES Cost Me A Whooping Sum of Money In Our Business Yesterday
Yesterday, I made a business mistake that cost me a big financial loss in our business.
And the painful part?
Nobody stole the money from me.
I wasn't defrauded.
I simply made a mistake in the way I handled a client's purchase.
A few weeks ago, a client was negotiating to buy one of our estate plots.
Because of the person who introduced him, I decided to give him a special consideration on the price.
He requested an even bigger discount.
I declined and explained clearly why I couldn't go further.
I thought we had settled the matter.
Then yesterday, while I was in a meeting, the client called me.
“Sir, I want to make the payment now. Can I go ahead with ₦XYZ?”
I was in the middle of something.
Rather than asking him to wait while I checked the details, I simply said yes.
He made the payment.
Shortly afterwards, the person who introduced him called to confirm the agreed price.
That was when I realized something painful:
I had not documented the agreement properly.
I had relied on memory.
And that mistake had now cost me a substantial amount.
Could I have called the client back and asked him to pay the difference?
I could.
But I didn't feel comfortable doing that.
He had paid based on the figure I had personally approved on phone.
Going back afterwards could make it appear as though I had deliberately allowed him to pay before changing the terms.
I wanted my word to remain my bond.
So, I accepted the loss.
But I also accepted the lesson.
THESE ARE 3 BITTER LESSONS I LEARNED
1. If It's Important, WRITE IT DOWN.
Never rely on memory for financial agreements. Your memory can fail you anytime, but what is written, never does.
2. Never Rush An Important Business Decision.
“Let me confirm and get back to you” is sometimes the most professional answer you can give. I wished I did that. But it is already late.
3. Integrity Must Be Supported By Systems.
A system, designed and consistently followed through keeps memory very strong with the relevant information.
Yes, your word matters, but proper documentation protects your business, your client and your reputation too.
I’ve lost a whooping sum of money for our young business.
And sincerely, I’ve been in pains since yesterday.
But hopefully, this lesson will prevent me, and perhaps someone reading this, from losing much more in the future.
