What can you do to prevent making a loss?

[Sotherefore]

This is why I will always advise that you should do a lot of planning and research before setting up your business. There are a lot of businesses that have very good ideas and they hire good employees but then they will fail because they did not set it up in the right place.

That is exactly the truth. So many people believe that most business will likely succeed in urban settlement but sometimes not all business will always survive in such location even when the the is high population of people. When the population is not in demands of the product you are offering then the business may not likely moves perfectly.

 

[Immilash]

Loss is an inevitable part of business and Investments, it is a premium pay for a greater insight . The important thing to learn is to know how to behave when you find your self in a losing position .

That's just the fact sir, if you are running a business I believe you must have face this,a lot of people have given up because of the losses they make, given up is not a good idea.

 

[Danny4cash]

This is why I will always advise that you should do a lot of planning and research before setting up your business. There are a lot of businesses that have very good ideas and they hire good employees but then they will fail because they did not set it up in the right place.

Yes, location matter in a business. Location is one of the factor that determine the growth of the business. To have a successful business, these three things are crucial: Knowledge, capital and location.

 

[Smiles20]

What I would also do is to put a very strong punishment to perpetrators, let's say for instance after taking stocks, if the books does not tally, and there is a loss whoever shift that has that loss would pay for the goods that is not accounted for.

This is actually a very good thing to do because some people are just held bent on spoiling your business. You should also employ measures like hiring managers to oversee them .

 

[Good-Person]

I always try as much as possible to make sure that I take time to study the platform or investment opportunity before jumping on it.

This has helped me a lot to make sure that I don't run into losses.

Well, this is what I also do as well. The fact of the matter is that I have decided that I shall never invest in Hyip sites and this is what I am doing to avoid scams.

 

[Ayojesu]

Snap out of it, losses are inevitable but can be minimized to the very bare minimum if you learn more about your business and you engage in calculated risks

 

[Immilash]

Well from the little experience I'm having, you can't escape from loss, you can only minimize it but you can't escape from it, the only way that you can minimize loss is by having the right knowledge of what it is you are doing.

 

[Setho]

What I would also do is to put a very strong punishment to perpetrators, let's say for instance after taking stocks, if the books does not tally, and there is a loss whoever shift that has that loss would pay for the goods that is not accounted for.

I believe that this is definitely going to serve as a lesson to people. You really do not have to be stealing before you are going to make money and if you think your salary is not enough then you should demand for a raise.

 

[GoldenLady]

I work in a pharmacy and it's common to lose money when some of your drugs expire. The key to reducing it is to sell it at lower prices and in more locations a while before it expires so it can all be used earlier.

 

[Skysaint]

You literally cannot prevent yourself from making losses but you can prevent from making more losses than you make profits or gain. Failure in business is inevitable.

 

[Good-Person]

That's just the fact sir, if you are running a business I believe you must have face this,a lot of people have given up because of the losses they make, given up is not a good idea.

Well, excessive losses is something that makes many people worried. Their business would eventually close down and this is what happened during the pandemic.

 

[Shigobad2020]

Making proper preparation ahead before jumping into a business or an investment is very important if you don't want to run into a loss , you must make research about everything to know its authenticity .

 

[Genie01]

That's true, if you don't know how to behave yourself I don't think you can continue,a lot of people quit if they lose money, quitting is not a good remedy for this.

That's the truth, quiting is definitely not a good idea when it comes to Investments.
Every trader incure some loses at some point in time, but the profitable one are indifferent to making or losing money.

 

[Immilash]

That's the truth, quiting is definitely not a good idea when it comes to Investments.
Every trader incure some loses at some point in time, but the profitable one are indifferent to making or losing money.

That's true, just like the popular sayings quitter's never win and winners never quit,if you are good at quiting you are not going to earn a dime online, that's just the truth.

 

[Laurentta]

I don't own a business currently but i'm planning to own one in the nearest future and it would likely be a fashion based business. I would try to avoid losses by ensuring CCTV cameras are placed in the business and are carefully monitored to reduce theft.

 

[Good-Person]

That's the truth, quiting is definitely not a good idea when it comes to Investments.
Every trader incure some loses at some point in time, but the profitable one are indifferent to making or losing money.

The main issue is that sometimes, you may need to quit when you start realising that the investments are not proving to be profitable at all. Under such kind of circumstances, your decisions might change.

 

[Shortie]

Preventing a loss for a business is not something you can fully avoid, it's something you will have to happen to you at some point and you have to look at ways you can minimize the losses rather than letting them continue. Having strict routines in place when taking count of profits made during the day is always a great way to prevent losses keeping note when you do notice losses and seeing if there is a pattern with the losses to help eliminate any problems that could be causing it. It's all about keeping everything noted down and checking to see if there is a pattern. Every business will have a loss regardless but limiting it will help a lot.

 

[Immilash]

I don't own a business currently but i'm planning to own one in the nearest future and it would likely be a fashion based business. I would try to avoid losses by ensuring CCTV cameras are placed in the business and are carefully monitored to reduce theft.

That's a good idea, but sometimes the camera's and the securities won't help, that's the reason I don't like offline job's, that's why I'm always online looking for ways to earn money.

 

[Abigael]

Preventing loss in business starts right from the start. You need to be aware of possible causes of loss and start making strategies to prevent them. Loss through theft can be prevented by increasing security. Then loss caused by bankruptcy requires good bookkeeping and management.

 

[Genie01]

The classical definition of an entrepreneur is that he/ she is a risk taker. But it is important to know that doing business involves risk and the tendency of making losses is still there.
You can minimize the chance of losing by finding out the right way of conducting the business.