What can you do to prevent making a loss?

[Good-Person]

It is necessary to understand the risk that is involved in a business and we know that risk will bring losses. Minimising the risk will also minimise losses in every businesses. Managing the risk will make you sidestep losses on so many occasions.

I think that managing the risk is the job of the management in a business. There are many managers who understand the risks associated with the business and they are employed to minimise those exact risks.

 

[Potuse]

I think that managing the risk is the job of the management in a business. There are many managers who understand the risks associated with the business and they are employed to minimise those exact risks.

The onus lies on the shoulder of the management of the company to take charge of managing the risk that is attached to the business.
If the risks are not properly managed, it could lead to the bankruptcy of the company.

 

[tray59]

To prevent making loss there are some certain set of things which you need to do,first you need to know your profit and capital,you don't need to spend your capital rather reinvest your profit,another thing is avoid excess spending it's going to save you from loss

 

[Justin]

If the loss is a result of product quality, you need to improve product quality. If it is due to bad marketing, you need to fire your marketing team. If the loss is due to bad employees, you need to fire them

 

[Abigael]

To prevent making loss there are some certain set of things which you need to do,first you need to know your profit and capital,you don't need to spend your capital rather reinvest your profit,another thing is avoid excess spending it's going to save you from loss

I love the idea of reinvesting profits. Especially if the business so still small. It will help you grow faster. Then you need to be really frugal with your spending. Unnecessary Expenditures always lead businesses to bankruptcy.

 

[Good-Person]

The onus lies on the shoulder of the management of the company to take charge of managing the risk that is attached to the business.
If the risks are not properly managed, it could lead to the bankruptcy of the company.

Well, I think that this is why managers are quite important for a company. There are many money management firms that have finance a manger and they have the responsibility to manage the money of people. It is a tough job.

 

[Abigael]

Well, I think that this is why managers are quite important for a company. There are many money management firms that have finance a manger and they have the responsibility to manage the money of people. It is a tough job.

I agree with you. Managing business funds is a tough job. You have to make sure that the amount for expenses and amount earned balance well. You have to also make sure to produce a surplus and not a deficit.

 

[Good-Person]

The onus lies on the shoulder of the management of the company to take charge of managing the risk that is attached to the business.
If the risks are not properly managed, it could lead to the bankruptcy of the company.

There are many business owners who have to risk capital because they may have no other choice. This is a kind of scenario when many people also take unwise decisions as well.

 

[Oluwatobitosin]

Well, what to do in preventing loss on Business is one's determination and dedication to the Business. Having a Business is Risky when you know nothing about the so called Business, but if you take your time to get tangible information about the Business, then you will definitely know the Do's and Don'ts

 

[Potuse]

There are many business owners who have to risk capital because they may have no other choice. This is a kind of scenario when many people also take unwise decisions as well.

In the plight to minimise losses as much as possible in each and every Businesses, there is need for proper consultation before judgement are made on any step to take in the business.

 

[Abigael]

Well, what to do in preventing loss on Business is one's determination and dedication to the Business. Having a Business is Risky when you know nothing about the so called Business, but if you take your time to get tangible information about the Business, then you will definitely know the Do's and Don'ts

That is right. You have got to actually have knowledge and skills in order to run the business well. Without which you will make losses and end up going bankrupt. So always learn everything about a business before starting it.

 

[Good-Person]

In the plight to minimise losses as much as possible in each and every Businesses, there is need for proper consultation before judgement are made on any step to take in the business.

Well, it depends on what kind of consultation you seek. This is because not all the people are capable of offering great consultation services. This is why you must seek the opinions of professional consultants only.

 

[Potuse]

Well, it depends on what kind of consultation you seek. This is because not all the people are capable of offering great consultation services. This is why you must seek the opinions of professional consultants only.

If you are to seek ideas, you are to seek ideas from people that are more experienced or the professionals in the field. You cannot gain anything from someone who is in the same level of experience with you.

 

[tyrim88]

To prevent loss, I try to be determined and pray more. I know it is not easy to overcome loss until I decide to change my ways and add prayers to succeed. However I am determined to stop gambling for a while.

One of the things that I have come to understand is that majority of things that happens to us is base on our individual decision,you will need to be decisive enough to be able to make our plan work effectively.

 

[Good-Person]

If you are to seek ideas, you are to seek ideas from people that are more experienced or the professionals in the field. You cannot gain anything from someone who is in the same level of experience with you.

This is why I try to remain in the company of people who are quite experienced. many other people also try to learn things from people who are experienced. This is true if you want to become a Forex or cryptocurrency trader.

 

[Sincerem]

All businesses operating will make losses and profits simultaneously, even the big giants like Amazon. The role of business directors is to develop policies to prevent and minimize shrinkage and loss in the company. For example, if it's a shop, they can prevent loss by hiring a physical security guard at the premises to deter theft and keep the peace. A shop and many other premises can also invest in high-quality HD CCTV cameras to identify the culprits responsible. Lastly, another suitable method to prevent company loss is implementing reasonable stock-inventory counting procedures to ensure everything is accounted for. Of course, dependent on the business will depend on which strategy a business owner will use to prevent stock loss.

If you are a business owner or are planning to become one - What can you do to prevent shrinkage and loss?

Thanks Alexander. Sometimes reasons why many people may have trouble flourishing in business is as a result of inadequate tools and machine.
So many people start up a business with inadequate money and that is the reason why all these tools and machine cannot be properly employed.

 

[Abigael]

If you are to seek ideas, you are to seek ideas from people that are more experienced or the professionals in the field. You cannot gain anything from someone who is in the same level of experience with you.

That is right. It is always best to seek experience from people who are higher than you. That is why mentors are people who have been in the business for long. That will enable you to gain more skill and knowledge.

 

[Good-Person]

That is right. It is always best to seek experience from people who are higher than you. That is why mentors are people who have been in the business for long. That will enable you to gain more skill and knowledge.

Well, I think that this is also one of the reasons why so many people opt for internships in many organisations. They tend to learn many different things from their seniors.

 

[Potuse]

That is right. It is always best to seek experience from people who are higher than you. That is why mentors are people who have been in the business for long. That will enable you to gain more skill and knowledge.

People who have been in the business have encountered variant problems and they have found solutions to them . This means that the problems you may be passing through presently must have been experienced by the mentors and they could give you solution to the problem instantaneously.

 

[Shigobad2020]

Proper planning is the first thing you need to do when you are trying to start a business , if you have a better orientation about your business , it will be easier for you to be succesful in your business.