What should business owners avoid?

[Koldej]

Business requires a lot of experience to grow...I believe the aim of every business is to put a smile on the face of the customer after every transaction, i.e customers should be treated with fairness, never be rude to customers, and most importantly avoid My family in business

 

[BrolySSJ]

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

This is very important and very integral in teh success of any business. When this starts to happen then there are funds that could have been used in teh business that are not available and will quickly lead to distrust in the business and the failure of the overall business.

 

[Dowenship]

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?.

Hmm business that have growned gradually must have been able to overcome some challenges which are enough to quench the growth of the business.. But as long they where able to grow to some level then it can survive sustainability...

 

[Mostee501]

This is very important and very integral in teh success of any business. When this starts to happen then there are funds that could have been used in teh business that are not available and will quickly lead to distrust in the business and the failure of the overall business.

That's the point and also the honest truth, taking money from your business at an early stage of the business and solving personal needs is very dangerous to that business.

 

[Shigobad2020]

A busines owner should avoid going bankruptcy and must do everything to secure the business, he should avoid going into debt and also avoid a bad manager.

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

 

[ahmedo24]

That's the point and also the honest truth, taking money from your business at an early stage of the business and solving personal needs is very dangerous to that business.

It is one big factor that kill business easily it is very important as a beginner to take care of your mind from the profit that comes in when starting a new business let the business break Even first before you begin to spend.

 

[tyrim88]

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.

yes i quite agree with you,becoming a philatrophic at the liitle money you have gathered from your business will not do your business any good.Because the most strain to come from any business is to use the fund for reinvestment and start giving it out.

Post automatically merged: May 19, 2021

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.

yes i quite agree with you,becoming a philatrophic at the liitle money you have gathered from your business will not do your business any good.Because the most strain to come from any business is to use the fund for reinvestment and start giving it out.

Post automatically merged: May 19, 2021

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.

yes i quite agree with you,becoming a philatrophic at the liitle money you have gathered from your business will not do your business any good.Because the most strain to come from any business is to use the fund for reinvestment and start giving it out.

Post automatically merged: May 19, 2021

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.

yes i quite agree with you,becoming a philatrophic at the liitle money you have gathered from your business will not do your business any good.Because the most strain to come from any business is to use the fund for reinvestment and start giving it out.

Post automatically merged: May 19, 2021

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.

yes i quite agree with you,becoming a philatrophic at the liitle money you have gathered from your business will not do your business any good.Because the most strain to come from any business is to use the fund for reinvestment and start giving it out.

Post automatically merged: May 19, 2021

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.

yes i quite agree with you,becoming a philatrophic at the liitle money you have gathered from your business will not do your business any good.Because the most strain to come from any business is to use the fund for reinvestment and start giving it out.

Post automatically merged: May 19, 2021

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.

yes i quite agree with you,becoming a philatrophic at the liitle money you have gathered from your business will not do your business any good.Because the most strain to come from any business is to use the fund for reinvestment and start giving it out.

Post automatically merged: May 19, 2021

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.

yes i quite agree with you,becoming a philatrophic at the liitle money you have gathered from your business will not do your business any good.Because the most strain to come from any business is to use the fund for reinvestment and start giving it out.

Post automatically merged: May 19, 2021

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.

yes i quite agree with you,becoming a philatrophic at the liitle money you have gathered from your business will not do your business any good.Because the most strain to come from any business is to use the fund for reinvestment and start giving it out.

 

[Mostee501]

It is one big factor that kill business easily it is very important as a beginner to take care of your mind from the profit that comes in when starting a new business let the business break Even first before you begin to spend.

Thats right, the business is supposed to be allowed to grow big and generating adequate income/profits before one should consider spending money from the business.

 

[BrolySSJ]

That's the point and also the honest truth, taking money from your business at an early stage of the business and solving personal needs is very dangerous to that business.

Also I think that if you have to spend business money on personal Ventures then you are working your business with your personal life which is a sure Recipe For Disaster. Especially since your employees will actually see you doing this and this can create a lot of tension within the business as well.

 

[Mostee501]

Also I think that if you have to spend business money on personal Ventures then you are working your business with your personal life which is a sure Recipe For Disaster. Especially since your employees will actually see you doing this and this can create a lot of tension within the business as well.

It will definitely create tension amongst the employees especially if the spending rates are not proportional to the income rate generated.

 

[BrolySSJ]

It will definitely create tension amongst the employees especially if the spending rates are not proportional to the income rate generated.

Yes. This would result in teh business starting to make a loss, and this will often be seen in the quality of the business products or even the reduction in teh employee salaries which will create problems and result in a business closing down.

 

[Damscooguns73]

Concerning what business owners should avoid. Well, as a business owner, such person should avoid unnecessary spendings, i.e the inflow and outflow of money should be monitored, he should be transparent to his customers or clients and avoid been partial

 

[Trexxxy]

A thousand list could be made about things to avoid. I think there is no blueprint to entrepreneurship, you just have to be prudent in spending and always ensure that you improve every day.

 

[Mostee501]

Yes. This would result in teh business starting to make a loss, and this will often be seen in the quality of the business products or even the reduction in teh employee salaries which will create problems and result in a business closing down.

This will be a major problem for the business all round because once a business starts to drop down, customers will notice and look for alternatives.

 

[Sariana23]

yes i quite agree with you,becoming a philanthropic at the liitle money you have gathered from your business will not do your business any good.Because the most strain to come from any business is to use the fund for reinvestment and start giving it out.

I have seen companies go bankrupt for that reason, a friend of mine had an excellent business and went bankrupt because of the credit he gave to family and friends. It is not a good option to be that good at a business because you can lose everything.

 

[Sotherefore]

Lolz,as a business owner you should try as much as possible to make sure that you behave nicely with people who have come to do business with you because with this is what will make your business grow,it is not advisable for you to give goods or services on credit expecting the person to come and pay later as you may be disappointed which can affect your business nagatively.

 

[cowantussie]

5 things business owner should avoid
Incomplete business plan
Trying to grow too quickly
The owner trying to do too much
Failure to adapt
Ignoring customers feedbacks

 

[Elizaukpe]

Business sustaining and growth is independently dependent on some factors like individual choice,natural phenomenons and economic inbalance,it's imperative to plan ahead as it will not always be rosey.

 

[Sariana23]

5 things business owner should avoid
Incomplete business plan
Trying to grow too quickly
The owner trying to do too much
Failure to adapt
Ignoring customers feedbacks

Very interesting, and these are things that often happen. The incomplete business plan is something that is seen in some cases, because they are not patient and want to start too fast and try to grow too fast, when the best way is to go slowly but surely.

 

[cowantussie]

Yes most business owner want to grow fast and make money without taking their time to complete their business plan which is very important for a business to survive. Business plan is the road map of the business