Do you have reserve savings for your business when it goes shambles?

[Shigobad20201]

A good business man must have at least three reserved options to lean back on when the the first plan of the business is falling apart, the first one is to have a reserve fund for the business, and the second one is to have another method to keep the business running.

 

[Kunkun]

A good business owner should always have a savings reserve in case there be rainy days and days like that are common, so savings should be an important aspect in any business

 

[Razor1911]

You're correct dear, we ought to have future back up funds. Incase one option failed, we can initiate revival using our reserved funds. That's why having diverse escape business route is better.

Always we should have plan A and PlanB as backup. Any kind of busines is risky and you need to prepare for the worst. And also you should not invest money at once. Staggering method of investing is very much useful.

 

[Sincerem]

Always we should have plan A and PlanB as backup. Any kind of busines is risky and you need to prepare for the worst. And also you should not invest money at once. Staggering method of investing is very much useful.

I agree with you, having diverse business plan makes it better the most. We shouldn't stick to one plan, and we should have reserve funds to take the business up incase something wrong happens to it in the future.
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When I was operating my offline businesses, I did not have reserve funds. I invested what ever I had. IN the beginning when I was making profits, I continued to reinvest.

Maybe that's what caused you losing it untimely. As a business owner you need to have reserve funds entirely different from the one you are using to re-invest in the business.

 

[Richard92]

It is always good to have a reserve savings somewhere for the business you are currently running to serve as saving grace ton over for some lack in the running of the business to prevent it from running down

it is important for every business man who have reserved savings or his or her business this will enable him to rise up again when his business go shamble.

 

[Fizzy_boi]

Yeah definitely we should always have reservations for the unforseen circumstances that might occur later on in a business that's why we should always save for the future.

 

[Bookwormlux1]

This was a mistake I was doing in my crypto currencies trading business. I didn't have a backup plan and it affected me when the things have gone wrong with crypto currencies generally this month.

 

[Razor1911]

Yeah definitely we should always have reservations for the unforseen circumstances that might occur later on in a business that's why we should always save for the future.

Emergency situation may come anytime. You can never predict when such adverse situation may arise in your life. So a safe haven should be maintained so that we can use them in such unforseen situations.

 

[Senator]

True, but truth be told, it's easier said than done. Everyone knows the importance of saving but business also has it perks especially the ones just starting which is why it is important to have financial advisors.

Very true. Some new startups knows this fact to have reserved savings for the business, but things don't usually happen that way to make them keep that savings for the business most of the time. Business just running on autopilot

 

[Eodine]

Very true. Some new startups knows this fact to have reserved savings for the business, but things don't usually happen that way to make them keep that savings for the business most of the time. Business just running on autopilot

Although most individuals have a major role to play in affecting their company's decision but still the government ought to help start ups by providing funds for them because unforeseen circumstances is one of the reasons start ups don't go far

 

[Sincerem]

This was a mistake I was doing in my crypto currencies trading business. I didn't have a backup plan and it affected me when the things have gone wrong with crypto currencies generally this month.

That's a devastating one, that you never had a back up funds back then, to help raise your investment or place another alternative to savour your investment. The volatile market have been acting strange, sending all the coins to be on the bearish.

 

[Bookwormlux1]

That's a devastating one, that you never had a back up funds back then, to help raise your investment or place another alternative to savour your investment. The volatile market have been acting strange, sending all the coins to be on the bearish.

The only option right now is to continue holding since selling would result to a very significant loss. At least there's a hope for another bullish season.

 

[Sincerem]

The only option right now is to continue holding since selling would result to a very significant loss. At least there's a hope for another bullish season.

Yes, you spoke well dear, their is a hope for another bullish run. I've always known that after the bear market comes the bull market. I've never heard about bearish all through, never.

 

[Dubai]

Every sensible business man should and must have a savings or reserve money that ought not to be touched for business. It should be meant for emergencies and critical periods.

 

[richee84]

Savings is a very good concept to adopt in running any business. Every business need a backup or support fund to boost the business when things seems to be going down. Savings help to safe the business in the face of bankruptcy but without adequate saving for the survive of the business things might get really bad in time of challenges.

 

[Chibson]

This is one of the reasons I advise people to always save some part of their money and invest some part. Invest all your money will not give you what to rely on in terms of financial bankrupt.

 

[Bookwormlux1]

Every sensible business man should and must have a savings or reserve money that ought not to be touched for business. It should be meant for emergencies and critical periods.

Unfortunately, some do not have this in mind and they always invest all their income, not thinking of any case of emergency. It doesn't usually end well with them though.

 

[Sincerem]

Every sensible business man should and must have a savings or reserve money that ought not to be touched for business. It should be meant for emergencies and critical periods.

Some business owners doesn't know about that, all they care is pumping money every now and then to earn future investment return, forgetting that uncertainty do occur. And they forgot they need reserve funds to clear such issue when it falls in the future.

 

[Bookwormlux1]

Learning to understand the best places to invest money is one fundamental financial education that one needs to get in order to avoid gambling with your money in the name of investment.

 

[Sincerem]

Their are money that should be used for investment, either re-investing it in our business or investing in other prominent venture is worthwhile. Then we still have funds for research, and shouldn't be used for investment options, or paying of bills. It is strictly used to wake our business up when emergencies hit it hard.