What should business owners avoid?

[ahmedo24]

There are businesses that have grown or are already growing gradually but the challenge some business owners do have is how to sustain such businesses. In your opinion what are those things to avoid in running and sustaining a business?.

 

[Alexandoy]

The entrepreneur should avoid neglect and borrowing. Those are the 2 factors that I think would contribute to the downfall of the business. Especially when you borrow money from usurers that you have to pay a high interest rate that would make a dent on your profitability. With neglect your mind should always be focused on the business otherwise something will go wrong that is beyond your knowledge.

 

[Sariana23]

If the company is booming, you should avoid making unnecessary or family expenses with the company's money. When many relatives see that they are doing well they begin to ask for credit that they never pay or, failing that, they ask for money. It is not bad to help them, but you must have limits and know how much and to whom. Otherwise you may have losses instead of winning.

 

[tuna89]

The owner needs to watch the outflow and inflow of money within the organization and make sure that they are not overspending as regards the expenses, do make sure to also provide effective customer services, motivate the employees with great benefits and always make research as regards new available products.

 

[Bookwormlux]

Business owners should avoid being dishonest with their dealings. Things like this make customers to seek better alternatives. Things like this would make your business crumble.

 

[ahmedo24]

Thanks to you guys comments , i can see from your opinions that one need to be financially disciplined and try as much as possible to limit the loan taken to grow business.

 

[Sariana23]

The owner needs to watch the outflow and inflow of money within the organization and make sure that they are not overspending as regards the expenses, do make sure to also provide effective customer services, motivate the employees with great benefits and always make research as regards new available products.

This is a very valid point "motivate employees with great benefits" since they are the ones that keep the company moving. Each employee who performs functions within a company deserves the recognition of his immediate boss and temporary rewards

 

[Kunkun]

Business should avoid getting into a bad debt. Bad debts are the debts are not beneficial to the business on the long run. Incompetence also among the workforce is something else to be avoided because the workforce determines the output of businesses

 

[Shigobad2020]

A business owner should avoid running into debt and if he runs into debt, he should not allow the debt swallow the business, he should avoid disagreement or fight with his/her customers.

 

[ahmedo24]

Business should avoid getting into a bad debt. Bad debts are the debts are not beneficial to the business on the long run. Incompetence also among the workforce is something else to be avoided because the workforce determines the output of businesses

You're absolutely right it is the more reason why many companies try to to employ very few people that are active and can easily make the company to be more productive in a very short time so it is better for a wheel company or a business to employ a few beneficial lots of people without output.

 

[btaliat]

Business owners should avoid friends and families that buy on credit. And business owners should avoid workers that don't treat customers right. These two set of people are to be avoided.

 

[Bookwormlux]

A business owner should avoid running into debt and if he runs into debt, he should not allow the debt swallow the business, he should avoid disagreement or fight with his/her customers.

Yeah, Debt makes it difficult for a business owner to achieve the goal he or she has got in mind. Debt makes you to lose focus, by always thinking of how to repay.

 

[ahmedo24]

It is the more reason why experts do advice that new businesses should not be start on loans or that because they find it very difficult to break even at the right time so adept itself is what every business man to transfer much as possible to avoid especially from the beginning of the business up to the point where the business is mature and due for expansion.

 

[solalal36]

Business owners should avoid talking rudely to customers because customers are always right. They shouldn't spend out of their profits. Instead they should pay themselves salary. They should be punctual to work and supervise the workers also. They should also pay salary early and include bonuses

 

[Bookwormlux]

Business owners should avoid taking loans when they are not sure of the prospects of whatever they may be using the loaned money for. Things like this would result to losses when they cannot repay.

 

[Shigobad2020]

Thanks to you guys comments , i can see from your opinions that one need to be financially disciplined and try as much as possible to limit the loan taken to grow business.

The things a business owner should avoid is bad debt and bad reputations, running into debt will ruin the images of the company.

 

[Sincerem]

Running into series of debt and having low reputation and trust will run down such business prematurely.

 

[Nomad]

The first thing you need to do cut expenses. Sometimes expenses are so high that it exceeds your income, and finally the business fails.

 

[Sincerem]

Expenses jumps so high when the business owner is busy, using the business funds to carter for home bills. That cripples such business, we should avoid it. Only make use of some profit and re-invest with the other to grow the business higher.

 

[joy101]

As a business owner you should avoid selling credit the business or involving friends the business, business owner should never sell low product.