What should business owners avoid?

[Mostee501]

From your descriptions business owners should avoid taking funds from the business to handle personal issues at an early stage in the business.

 

[dan2]

Businesses should try and avoid obsessing over follower counts on social media and trying to 'get big' on various channels. It's much better for business to have 10 paying customers and a small circle of clients than lots of followers that don't buy anything.

You need to look at the metrics that are important.

 

[Ayokex]

Business owner should avoid any act of disloyalty and distrust. No matter how well a business is performing once the owner introduces any act of disloyalty then the business is tending to fail because the moment the customers find that will be an undoing of the business.

 

[btaliat]

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

You are very right. Business owner should avoid selling less quality goods and products in order to make more profit. If he does that, he may easily lose customers.

 

[Eodine]

Business owners especially business start ups should avoid bad debt resulting from giving credits to customers all the time so that the business does not go bankrupt.

 

[Kelly5]

If you are a business owner with some level of increase in the number of staff you employ, make sure you don't have an over blotted number of staff that you don't really need to keep you from running down your business yourself. Employ relative to improvement.

 

[Alaba]

Business owners should avoid unnecessary spendings, also they shouldn't sell on credit to large number of people and borrowing of money can also affect them

 

[Alaba]

Business owners should avoid unnecessary spendings, also they shouldn't sell on credit to large number of people and borrowing of money can also affect them

 

[Sheyemanu]

Concerning your question in the above post on what business owners should avoid, first of all i think business owners should avoid leakage in finances, this means that an imbalance in the books showing money spent and money earned

 

[Senator]

Avoiding the temptation of investing into a new business when you are still yet to get things running for the one are currently on. That will amount to an attitude of gambling your heard earned money just like that

 

[BrolySSJ]

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?.

I think that the number one thing to avoid is alienating a portion of your customer base. You should always try to rake in as many people as possible and sometimes when you are too specialized you alienate a lot of the community and this will affect your business moving forward.

 

[Shigobad2020]

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.

Borrowing money should be the last straw for a business owner, so he must avoid loan at all cost because loan normally drags the business down and he should also avoid making mistakes.

 

[Grant]

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?.

For one, don't ever rush into a new business opportunity. Research, brainstorm, test, test and do more testing. Another thing is, not budgeting your profits and what money you do have. People also make the mistake of hiring too many people, or making too many promises. Start slow, and grow gradually. That's how I see it.

 

[GIFTMICHAEL]

Avoiding unnecessary spending spending of the business to family needs, paying utility bills, and paying for recreation etc. Business profits are meant to be re-invested until it grows so high then we can take some to service our needs and re-invest too.

 

[tyrim88]

A new business should avoid by all means to give his products on credit,because he would'nt have funds to go back and restock.He must get a proper account records of cash in flow and expenses on daily basis.

 

[Chibson]

Business owners should avoid mixing business with family issues. They also need to avoid bad employees who will not add any value to his or her business..

 

[IamDozzy]

Always avoid making excess expenses when running the business for sustainability. Ensure your profits is always more than your cost of business.

 

[Richard92]

A good business owner should avoid overspendingin his or her business because overspending kills the business finance and can make you as a businessman to go bankrupt.

 

[FreshKaz11]

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?.

What matter most mad most business owner doesn't see it as a big deal,is when joining business with friendship which is not suppose to be like that, because joining them together would ruin a business in anyway you don't even think of I guess.

 

[Kelly5]

Also as a business owner, you should make sure that you don't employ the services of lazy managers to run your business for you because that will spell doom for you and for your business enterprise