That's very good. Learning from people who are experts is one of the best ways in which you can succeed in anything. This is why there are mentorship programs everywhere and there are also business school.
How have you been able to avoid bad debt in business?
- Thread starter maventiger
- Start date
I have never been able to avoid bad debts because I have always tried to avoid bad debts. I am not conducting any business right now. I am earning money online and trying to manage my budget for a good future.
Bad debts are experiences we are bound to encounter in business one way or the other. But we can still try to reduce it by not selling on credit to people no matter how close they are to you.
Bizdustry Advertising
In-Conversation/Thread Advertising - Click Here to Advertise
I've never seen a business school before, well it will be stressful for me to go to business school. I rather get in touch with people who have better understanding of the business I am establishing and also people who are willing to help genuinely.
In this part of the world there is a business system in which you have to stay under someone to learn it for some years and after then he or she can settle you. I think that is one of the best ways you can start a business and become successful.
Learn ? I didn't know this can be done with business . I only know you can stay with someone here to learn a particular skill like electrician or plumbing. Then after some years you can choose to leave and start your own.
Bizdustry Advertising
In-Conversation/Thread Advertising - Click Here to Advertise
The key to avoid bad debts is to make sure that you do not borrow huge loans that you cannot pay. Moreover, getting interest-free loans is also a great way to avoid bad debts because interest increases debts.
Of course it can be done with any kind of business and that is the only way you can be able to establish your own business if you do not have the capital and the experience. It will make you to gather a lot of experience because you might have practicalize the business with that of your boss'.
Personally one way i have been able to avoid bad debt is not to borrow in such a manner that you can not be able to pay back,expecially when the business is just starting,because it will definetlly weigh the business down.
Bizdustry Advertising
In-Conversation/Thread Advertising - Click Here to Advertise
Discipline is needed to achieve anything you need in your business. You just have to make rules and stick to the plans and arrangement you have made to avoid bad debt after you have established a business.
I wouldn't do this with any types of business like supermarket personally. It is just a waste of time for me to spend years learning how to manage this business. If I don't really know how to do it , I rather employ someone to manage it for me while I also learn at the same time.
You do not need to spend years learning it, instead you ask questions from people who have been into the business for some time. You can also employ someone to manage it for you if you have the money.
Bizdustry Advertising
In-Conversation/Thread Advertising - Click Here to Advertise
Bad debts in business can be avoided by setting the limits to depth that can be taken at a given period of time so as not to overdo it. And that should be given to trusted individuals with a good record of paying back debt.
Not borrowing loans is one of the main reasons why people do not get in bad debts and this is at the high level, too. For example, many companies are financially strong because they do not borrow money that they cannot afford to pay back,.
one of the things that makes an organisation to be very competitive in the esctor they are operating is the capacity they possess and that is a function of adequate funding for projects they are embarking on.They know their balnce sheet and can definitelly pay on schedule.
Bizdustry Advertising
In-Conversation/Thread Advertising - Click Here to Advertise
I'm not a business man but bad debt in business is something every business man or woman should avoid, your customers should be aware of your market plans that buying on credit is not permitted and so on.
A lot of people will always find it very difficult to stop this most, specially from people they really know, like friends or family members.
It is very important for a newly business to avoid unnecessary debit when it's comes to owing a new business you should avoid it, you should never take a loan to start up a business for you never fell into debit.
Bizdustry Advertising
In-Conversation/Thread Advertising - Click Here to Advertise
I don't really have a business , but the most important thing that will help people in this situation is just discipline and by sticking to your plans and preparation. This would help prevent bad debt
This is something that I have always tried so that my business is not going to be over exposed to it. I only give out them to people who have proven to be loyal customers and can be able to refer a lot of people.
Newest Directory Listings
Expand your business scale with over 200 million clean IP addresses, stellar features, and affordable prices provided by 922S5Proxy.
WWE Hub is a discussion forum for all things wrestling! Share and chat with other wrestling fans throughout the world!
ABCProxy is cost-effective, ethical residential proxies network!
Similar threads
