What should business owners avoid?

[Syldan]

Actually there are alot of things that business owners are always advise to avoid most especially involving personal and family issues into business and also unproductive spending of funds.

 

[Lucy ID]

As a business owner there certain things you should naturally avoid and be, first make sure you have an account of everything you do especially financially, avoid been greedy, avoid spending anyhow, save and make good investment as much as possible and many others

 

[zelalem]

Owners monitor the outflows and inflows of funds within the organization, ensure they are not overspending in terms of spending, provide effective customer service, benefit employees significantly, and make available. You need to make sure that you are always looking for new information about your product.

 

[Setho]

I think that as a business owner you should try to avoid bad debt as much as you can. This is especially when you are having a small business and this kind of money is going to be important for your growth.

 

[Smiles20]

Business owners will try as much as possible in order to avoid situations that is going to put them on a negative image in the public. This is going to include things like not paying their taxes or involving in scam.

 

[Setho]

A business owner should try as much as they can in order to avoid any kind of conflict between employees . This is going to have a very bad effect in work ethic and might affect production on the long run.

 

[Shigobad2020]

Being careful is a good attributes of a business owner and also being consistence , a business owner should always avoid going into a business with bad debt which might ruin the business.

 

[Bookwormlux]

Business owners should avoid people who come to make it look as though they would be able to scale up to other profitable schemes. There are several such scams out there already.

 

[Josephjossy]

Every business owner needs to avoid so much spending, you don't have to spend so much money more than you make, they need to avoid spending much to avoid business fail

 

[Holluwaphemmy]

Business owners should avoid giving unnecessary attention or privileges to subordinates. Also, business owners should avoid pride, but rather, they should always consider their subordinates and give them a say in the company's administration even if their advise may not be really implemented.

 

[Sotherefore]

Business owners should try to avoid partnering with people especially dubious people that could leads to business failure.. In whatever business anyone is doing honesty is always the most important thing we shouldn't avoid to apply.

 

[Ektalakra]

As a business owner here are some of the mistakes one should avoid:
1. Being afraid of failure: Fear of anything will cause only a negative impact.
2. Not having a plan: Having something planned before starting gives you a rough view of what you are going to do or how you are going to do it.

 

[Matan_z]

They should avoid treating their employees in a bad way, because everyone wants to work in a nice atmosphere and not where his owner is insulting him everyday. They should also avoid stopping contacts with other business owners which are good for the business just because they don't like them, bringing self thoughts to a business might cause it great losses and we don't want that as business owners. They should also avoid hiring people who don't fit the job, or people who don't do their job well because then the business might get hurt and stop being successful just because of those employees. They should not invest huge amounts of their company as well, because if those investments will fail it might cause the whole business to go bankrupt.

 

[Ektalakra]

Some people start a business just because they think it is cool while others start a business to avoid competition in the field of their job and such people are at high risk to get failing. One should only do business if they what to do if they consider business as their passion.

 

[Lens]

The most important thing that a business owner should avoid as much as possible is losses. If a business owner try in all ways to avoid losses, he has made remarkable impact in his business.

 

[Matan_z]

A business owner should't be taking too many loans which are risky and won't be necessarily recover, it doesn't worth the risk and can hurt both the business and the owner himself. He should also avoid inviting his relatives to his business because then it will be harder for him to introduce a discipline, after all you appreciate and love more a relative than just a random person, and it can effect your relationship with them in a bad way and that's a thing they should avoid.
They should also avoid investing too much of the business earnings in companies, or giving it away to charity because a business must have a lot of money behind in banks as a back-up for harder times, just in case the business suffers from losses, but if the owner is giving away or investing too much of that essential money the business simply wouldn't have a back-up and that's putting it in a risk.

 

[Castelione]

If you have a business, avoid mixing your personal money to your business money. Once you do so, you won't be able to see if your business still profiting. If planning to expand your business, do not borrow money with higher interest than your expected profit.

 

[Gandiba]

Business owners should avoid competing with those who are doing better than them in business, because this would definitely cause them to lose out of the original purpose for which a business was founded.

 

[Lens]

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

This is basically one of the important thing that must be taken care of, because when you sell on credit to customers you are gradually killing the business because most of the people that buy on credit may not be able to payback and that may mark the end of the business.

 

[Chibson]

As a business owner you must try as much as possible to avoid unscrupulous behaviour because they can lead to your customers are running away.

Honesty is very important in business because it will bring about trust and therefore, taking your business to the next level. You must also avoid unnecessary expenditure and try as much as possible not to over-employ.