Why Business Owners Must Have ‘Eventuality Funds’ – Don Jazzy

Mavins record lable CEO, Don Jazzy has stated business owners, particularly in this clime, must make it a point to set aside what he termed ‘eventuality funds’.

As a widely acknowledged music mogul and entrepreneur himself, Don Jazzy explained the relevance of the above mentioned.

The legendary music producer noted that it helps give the workers, especially succour in the advent of a sudden turn of events in the economy and also keeps the business afloat until things get back to normalcy.

On the fourth episode of the ‘Crea-ri-vi-ri’ on the Zero Conditions Podcast, the MAVIN Music frontliner provided details on this while addressing the current realistic state of the economy as it influences his lifestyle and business.

He further stated that he hasn’t made any lifestyle changed since the economy took a different twist, But then obviously, he has to cater for the people working with him because as they are being affect by the adverse effects of the dwindling economy.

Don Jazzy also revealed that they are also augmenting to ensure they are not affected too much, but of course, it’s crazy yet they hope that it gets better along the line.

Probing further, one of the hosts of the podcast inquired: “As a business owner, a lot of businesses are struggling because the money has also devalued for them. Maybe they are increasing the value of the services they provide but now you also have to increase the salaries of people working for you despite the face that your money is not also going up. How do you balance that reality?”

In response to the question posed, the top-class music executive and sound engineer stated that, when running any business, as they do in their place, they already have ‘uncertainty funds’.

He went on state that, as a business owner, whether you like it or not, you have know idea what can happen next.

Don Jazzy added that he is not going to say they jinxed it but as they’re budgeting for the year, they are also making plans for any eventuality.

The singer and award-winning Nigerian music producer disclosed that we are in a terrain where you can just wake up in the morning and be shocked by what has happened in the economy, so yes, by the Grace of God, there’s money already set aside for eventualities.