What should business owners avoid?

[Ghost]

Business owners should avoid borrowing as much as possible. This is one of the bedrocks of failure. It gives you the sense that you have money while it's not actually yours

 

[ahmedo24]

Business owners should avoid borrowing as much as possible. This is one of the bedrocks of failure. It gives you the sense that you have money while it's not actually yours

That is true you see if one is able to start a business with his own money and patiently grow it till it break even it is better to rush and take loan to fund a business but even the long run the business has established itself fully then taking loan won't be an issue.

 

[Lucy ID]

As a business owner there some certain things you should avoid in your business, don't give out your goods and services on credit, don't borrow or takes loans, avoid spending unnecessary when needed and employment trustworthy staffs

 

[Stnicholaz]

Things a business owner should avoid especially new business is to avoid bad debts, unnecessary spending and try as much as possible to avoid family taken advantage of your business, using emotional blackmail to rundown your business.

 

[Heatman]

As a business owner when your business is still very new, it's very important that you try as much as possible to eliminate all unnecessary expense from your business.

 

[Maayong]

If a businessperson wants to succeed he/she should avoid spending money unnecessary and also to avoid selling things on credit

 

[Toyoabasi]

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?.

As business owners, we should avoid the following:
1)incurring debts
2)overspending
3)dishonesty to staff or clients

Post automatically merged: Oct 14, 2021

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?.

As business owners, we should avoid the following:
1)incurring debts
2)overspending
3)dishonesty to staff or clients

 

[Ghost]

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.

Not running into debt is key of running a successful business. It's very hard but a little self control in financial management is very crucial

 

[Kubiat-Abasi]

Business owners should try to avoid incurring unnecessary debt, they should be firm and critical thinkers who can carefully evaluate and make proper decisions.

 

[Tislad]

It is better to avoid Unnecessary company mixing business with pleasure let business be business and pleasure be pleasure if not it will bring down the business as it grew.

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?.

 

[ahmedo24]

It may be very difficult for a business person not to incure debt at any point in time except the business is not that big but what matters is that the debt incure for the purpose of running your business or expansion shouldn't exceed 20% of your total investment.

 

[Godspower]

Business owners should avoid taking unrealistic loans. They should also avoid selling goods or providing services on credit to people especially family members.

 

[eLdavis]

Business owners should avoid taking unrealistic loans. They should also avoid selling goods or providing services on credit to people especially family members.

Well said, the two things you made mention of have succeeded in killing so many business today. Most times business owners tend to give out their goods and services for credit simply because they feel they can trust the said person, but in the end they get the results they do not expect.

 

[Adebayonle7]

Avoid customers who buy on credit or who try to owe you, accumulated debts from customers can ruin a business, make sure your products are quality and adopt great customer services, these makes customers refer others, always revise your marketing strategies and improve on them, you can as well take your business online for better publicity, engagement, customers, sales and profits

 

[tray59]

Business owners should avoid taking unrealistic loans. They should also avoid selling goods or providing services on credit to people especially family members.

I accept the fact that too much loans can be so boring settling it but in case where the business operator has ability to run the business successfully and win he can take the loan,another thing is giving out credit to third party and customer let me put it that way this has completely make some business closed within a matter of time

 

[Kaffyfolla]

As an entrepreneur, you should avoid been lenient to the extend that the employee will do whatever he or she likes

 

[Ub40]

First, I want to commend you for bringing up such a wonderful topic for discussion among us here. Though it has already been stated above, am still particular about a company avoiding borrowing money, especially the one that has big interest to pay back. And should always take statistics of how the business is doing so as to make the necessary adjustment if need be.

 

[eLdavis]

As an entrepreneur, you should avoid been lenient to the extend that the employee will do whatever he or she likes

As a business owner, you need to be approachable, your employees should be able to freely relate or discuss things with you. How would a business owner know when he or she has become too lenient form your point of view?

 

[Abigael]

If a businessperson wants to succeed he/she should avoid spending money unnecessary and also to avoid selling things on credit

Yeah, those are two most important things that a business owner should avoid. Indeed giving things out on credit can really lead to high loss in business. And spending money unwisely can lead to financial instability in a business.

 

[Immilash]

Business owners should avoid being rude to their customers. I've seen many businesses folded because on how they treat their customers.