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

[Immilash]

You need to have deep knowledge about the business you're doing and not just that but to also develop your marketing skills as it's something that's needed in our today's online market.

You have a good point there, if you have the knowledge of what you'll be going for I'm confident you'll have the best results you are looking for, this very important.

 

[Sotherefore]

To develop effective strategy to make use of in this space is actually becoming very difficult. If care is not taken so many people would assume they are not called for the line if business they are in.

Lolz, everyone are capable of succeeding in what they are willing to do. There is no call here. I just believe that everything can work perfectly as long as we are serious . A lot of people may have the interest to start a business but because of lack of seriousness and discipline. That's why they fail. There is no specific people that were called to start a particular business . Everyone can equally succeed and those that are really succeeding much are those with the greatest passion.

 

[Imran_Noori]

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 you can inform them about losses, experts could share their knowledge of business, losses, profits and strategies with startups, in this way someone could help them.

 

[Smiles20]

Seriously it is something that requires a simple understanding and proper following of mentorship. That's the easiest way you can succeed in the online space as long as you are serious.
Exactly and if we need to still go back to the business it is still our responsibility is to raise strategize and understand the eror we did in the past and use it as a point of correction.

That is true , they might get to really understand it from experience. It is not easy. There was a time a was Also seeing it the way they do. I believe they will understand it as they gain a lot of experience.

I have always advise that loses must not really mean that the business is going down. You can see it as an opportunity to learn so that you are not going to repeat that kind of mistake again.

 

[Sotherefore]

I have always advise that loses must not really mean that the business is going down. You can see it as an opportunity to learn so that you are not going to repeat that kind of mistake again.

If the business is not going down entirely then that is not a business loss . There are some certain things you are not doing doing right. Well it is just an experience for you to learn and not to repeat such anymore.

I still believe it is necessary to have the required knowledge because some mistakes are not something that can easily be corrected as you have said

 

[Skysaint]

You have a good point there, if you have the knowledge of what you'll be going for I'm confident you'll have the best results you are looking for, this very important.

When the online market bus involved, I think it's not really about the knowledge you have only bit also how best you can market yourself on this space; that's what I was talking about earlier.

 

[Immilash]

When the online market bus involved, I think it's not really about the knowledge you have only bit also how best you can market yourself on this space; that's what I was talking about earlier.

That's true, but having the knowledge is everything, that's the first thing you need to have before you can even think of trading, despite the fact we have some things that will help you but having the knowledge is the first thing you need.

 

[Skysaint]

That's true, but having the knowledge is everything, that's the first thing you need to have before you can even think of trading, despite the fact we have some things that will help you but having the knowledge is the first thing you need.

Having the knowledge and skills is important but saying it's everything is something that I have been trying to let you understand but it seems you're not getting it. Marketing skills is even more important than skills.

 

[Immilash]

Having the knowledge and skills is important but saying it's everything is something that I have been trying to let you understand but it seems you're not getting it. Marketing skills is even more important than skills.

You are right, I know get the point you are trying to make but in everything you are doing you need to be consistent with it, that's the best way you can gain what you want.

 

[Skysaint]

You are right, I know get the point you are trying to make but in everything you are doing you need to be consistent with it, that's the best way you can gain what you want.

That's what we can do right now on this very space because it has become very competitive and so you would need to be focused and also consistent to even get close to your goals online.

 

[Immilash]

That's what we can do right now on this very space because it has become very competitive and so you would need to be focused and also consistent to even get close to your goals online.

That's true, if you are not consistent with what you are doing I don't think you'll have the chance to make it at the end, a lot of people don't really know this especially those who are starting for the very first time

 

[Skysaint]

That's true, if you are not consistent with what you are doing I don't think you'll have the chance to make it at the end, a lot of people don't really know this especially those who are starting for the very first time

They will get to learn actually. The first is that they will start facing reality and drop their too many expectations for the online market and focus on adding value to themselves. They'd learn how to be consistent.

 

[Shortie]

If someone wants to open a business up they need to understand that losses are normal, especially during the early days of a business. Due to the losses, they will need to ensure they have a little bit extra money to be able to have as a backup for when those losses happen.

Seeing losses does not mean you are failing as a business, it just means you need to do more to ensure that your business will start to see a gain. It's if you are trying every available option to increase your earnings and you are still seeing losses that it may be time to call it a day. Some people think their business will grow and they will see an investment in a week or maybe a month, that is something they need to understand is a bad way of thinking and that it could take a lot longer than that to see any kind of growth and losses will more than likely be seen first.

 

[Connor909]

You should clarify that losses are an inevitable aspect of doing business and are not always a sign of failure in order to help someone understand coping with losses in a firm. Explain that losses can arise due to causes such as economic cycles, industry shifts, and other external factors. Describe the value of predicting and budgeting to help control losses, as well as techniques like diversifying investments, reducing expenses, and generating new sources of income.

 

[Nomad]

Running a business is not for emotional fools. When people are too much attached with the business idea and cannot see what is happening and contin ue to believe there will be better times, they are nothing but emotional fools.

 

[Heatman]

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.

It is very unfortunate in my country today that a lot of people still don't take insurance seriously which is why they find it very difficult to cope when their business hit a very serious disaster along the way.

 

[Jonaville]

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?

The person needs to know that it is not every time that he will make profit from his business. There are times that the person may lose but the person should be able to manage the risk

 

[Heatman]

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

The problem with trying to overlook your current expenses is that they will always keep coming and you will always keep taking care of them because that is what running business is all about but what you can do is to try as much as possible to cut down on your expenses.

 

[Laurentta]

You can make someone understand dealing with losses in a business by showing or telling him or her about big business owners who encountered several losses in their business before becoming successful.

 

[Ernestnari]

You have to let someone know alm the pitfalls in the business from the get go. No need for sugar coating. Tell them about your own practical losses in the business. Be blunt about it and reemphasize it.