Entrepreneurship is about taking risks. But why should you sometimes also have to bear the risk that others fail to honor their commitments?
When I decided to start my own business, I knew it wouldn’t always be easy. Finding new clients, making investments, building relationships, and working hard to create something meaningful—that’s all part of the process.
However, there is one aspect of entrepreneurship that I find myself reflecting on more and more: the financial risk of doing business with parties who do not keep their promises.
And this cuts both ways.
1. You provide a service, but you don’t get paid.
You’ve invested time, knowledge, and energy. You’ve delivered what you agreed to and sent the invoice—but the payment never arrives.
You send reminders, try to make contact, and end up spending valuable time on something that should be straightforward: getting paid for work you’ve already done.
For a large corporation, an unpaid invoice might just be an administrative nuisance. For a small business owner, however, it can have an immediate impact on cash flow and the very continuity of the business.
2. You pay for a service, but you don’t receive what was agreed upon.
This happens, too.
You place your trust in a supplier, pay an invoice or a deposit, and expect the work to be carried out—but the delivery never happens. Deadlines are missed, communication goes silent, or it eventually becomes clear that you’ve paid for nothing.
Not only have you lost your money, but you’re also left scrambling to find someone else to get the job done.
What do these situations have in common?
In both cases, the financial risk is shifted onto the entrepreneur who is actually taking responsibility.
Of course, I understand that things can sometimes go wrong. A client might run into financial trouble, or a supplier might encounter unexpected circumstances.
However, there is a big difference between having a problem and evading your responsibilities. A quick message, a phone call, or an honest explanation can go a long way in preventing frustration.
My appeal is simple:
If you have received a service and it was delivered as agreed, pay your invoice.
If you have received payment for a project, deliver what you promised.
Unable to do so? Communicate honestly and in a timely manner.
Fulfilling agreements shouldn’t be a unique selling point; it should be the standard.
I have been an entrepreneur for a relatively short time, and fortunately, I’ve had many positive experiences with clients and suppliers. Most people simply do what they promise—and I am grateful for that. But let’s not make things unnecessarily difficult for one another as entrepreneurs.
Behind every small business is a person who is investing, taking risks, and trying to build something.
Good business doesn’t begin with signing an agreement; it begins with honoring it.
