How to make someone understand dealing with loses in a business?

[Claraviolet]

I know someone who wants to open up a business. I told them to keep a fixed budget(in case they encounter loses). However, they keep saying that, if they encounter loses then it means, they are not doing it the right away.

Their thinking is not incorrect but however, it could easily make us go bankrupt, if you don't know when to quit. So, how would you make them understand when to quit? Or do you think we need to keep on trying till we succeed(however not everyone can succeed)?

What are your thoughts on this?

 

[Syldan]

Actually someone can never understand the losses in business without engaging or investing into business. he can only be guided and directed on some specific strategy but not on lost.

 

[Good-Person]

Actually someone can never understand the losses in business without engaging or investing into business. he can only be guided and directed on some specific strategy but not on lost.

I think that a person should realise that suffering from losses in a repeated manner is a sign that your business might be in jeopardy. Many people may not understand that not all the businesses are made for all types of people.

 

[GoldenLady]

I know someone who wants to open up a business. I told them to keep a fixed budget(in case they encounter loses). However, they keep saying that, if they encounter loses then it means, they are not doing it the right away.

Their thinking is not incorrect but however, it could easily make us go bankrupt, if you don't know when to quit. So, how would you make them understand when to quit? Or do you think we need to keep on trying till we succeed(however not everyone can succeed)?

What are your thoughts on this?

I'm currently dealing with such. The owner of the business is expecting more returns than possible, and this is causing some areas of the business to lag. Some people are simply not meant to run any business due to their expectations.

 

[Syldan]

Actually I don't think it's an easy task to let someone understand how lose goes in business when the person has not they running the business. unless he is directly engaged into the business he will understand.

 

[nadiel sahmen]

These are some tips in dealing with losses in a company
Make Sure You Are Not Impulsive.
Assess Your Losses Carefully.
Relook at your current expenses. ...
Increase your Income From Various Sources.
Seek Assistance to Cope Emotionally

 

[Agbalagbaa]

I'm currently dealing with such. The owner of the business is expecting more returns than possible, and this is causing some areas of the business to lag. Some people are simply not meant to run any business due to their expectations.

You have a point there,if you invest your money online or offline just expect that money has gone, that's the challenges that a lot people are facing in there business.

 

[Claraviolet]

I'm currently dealing with such. The owner of the business is expecting more returns than possible, and this is causing some areas of the business to lag. Some people are simply not meant to run any business due to their expectations.

That's true and if they can cut their loses in time, then it's all well and good. However, if they don't know when to quit, then they would even make their loved ones suffer.

I am facing such a situation with my in-laws family at the moment. They made too many debts for the sake of business and my husband had to pay all those debts. Now, it's up to me and him to earn and close those loans.

I wish people know their own capacity, tolerance and limits first. I am sure it's a harsh statement but rather than regretting everything at the very end, it's better to be careful from the beginning. Also, people should learn how to accept the reality as well. Or else things will go terribly wrong not just for them but for their family as well.

 

[eenya00]

business is not something that is very easy and it is not for the faint heated certainly, you always hope for the best but you should also expect the worse as well, but in all it is worth doing.

 

[Lynaia]

People just have to believe know that things much not be going smoothly to you in life irrespective of whether you're doing it correctly or not. You have to be expecting every situation in life

 

[HayKay]

Losses will definitely be made in business - one cannot win all the time. But you can advise the person to have a good insurance cover so that some losses can be mitigated else it'll be dangerous.

 

[Chibson]

I think that a person should realise that suffering from losses in a repeated manner is a sign that your business might be in jeopardy. Many people may not understand that not all the businesses are made for all types of people.

sometimes a lot of people suffer losses in business but I start some period of time they will be able to recover. this is why it is always important to have a plan B before venturing into a business.

 

[Mohammed Rashid]

Sometimes a lot of people lose money in business, but after a while they will be able to recoup. This is why, when starting a firm, it is critical to have a backup plan.

 

[eenya00]

i do not believe there is a holy grail or a manual that teaches person how to avoid loses or how to deal with the issue, we all have our various forms of dealing with griefs as humans.

 

[frederick_9]

In reality, someone who doesn't work in or invest in company will never fully comprehend commercial losses.
Only a special tactic may be directed at him; he cannot be lost.

 

[Alisco]

Telling someone how to deal with lost in a business ensures that he a beginner. So first you make sure he knows that business is about risk and involving gain and Lost. If he ready to risk then he is ready to deal with lost

 

[Bigron]

I know someone who wants to open up a business. I told them to keep a fixed budget(in case they encounter loses). However, they keep saying that, if they encounter loses then it means, they are not doing it the right away.

Their thinking is not incorrect but however, it could easily make us go bankrupt, if you don't know when to quit. So, how would you make them understand when to quit? Or do you think we need to keep on trying till we succeed(however not everyone can succeed)?

What are your thoughts on this?

To offset failures, you can recommend the individual to obtain adequate insurance coverage just so some liabilities can really be alleviated, otherwise, the situation will be hazardous.

 

[Rolly_blen]

I know someone who wants to open up a business. I told them to keep a fixed budget(in case they encounter loses). However, they keep saying that, if they encounter loses then it means, they are not doing it the right away.

Their thinking is not incorrect but however, it could easily make us go bankrupt, if you don't know when to quit. So, how would you make them understand when to quit? Or do you think we need to keep on trying till we succeed(however not everyone can succeed)?

What are your thoughts on this?

I do not believe there is a strict procedure that shows someone how to prevent losses or how to deal with the problem, and as business people I think you would need to understand that repeated losses puts the business in grave danger.

 

[Immilash]

If that person don't have a good plan or experience I don't think he can make it, if you want to succeed you need to have those two things I made mentioned of.

 

[Joseph555]

The owner of the business is expecting more returns than possible, and this is causing some areas of the business to lag. Some people are simply not meant to run any business due to their expectations.