How to make someone understand dealing with loses in a business?

[Immilash1]

The owner of the business is expecting more returns than possible, and this is causing some areas of the business to lag. Some people are simply not meant to run any business due to their expectations.

That's true, some people are not having a good mindset when it comes to Businesses, such kinds of people are expecting something that's not even possible sometimes.

 

[GIFTMICHAEL]

I know someone who wants to open up a business. I told them to keep a fixed budget(in case they encounter loses). However, they keep saying that, if they encounter loses then it means, they are not doing it the right away.

Their thinking is not incorrect but however, it could easily make us go bankrupt, if you don't know when to quit. So, how would you make them understand when to quit? Or do you think we need to keep on trying till we succeed(however not everyone can succeed)?

What are your thoughts on this?

Well if you are going to open a new business it's quite obvious that there is gain and loss. So, if you are facing the loss you should be patient and try to overcome previous mistakes gradually that leads to a successful business don't become hopeless and disturb and leave that business because this is not a good idea to leave.

 

[Shigobad20201]

These are some tips in dealing with losses in a company
Make Sure You Are Not Impulsive.
Assess Your Losses Carefully.
Relook at your current expenses. ...
Increase your Income From Various Sources.
Seek Assistance to Cope Emotionally

Sometimes loosing during business is inevitable but dealing with the loss so that it won't affect you in future is what you need to study , know the reason why you fail and get a good solutions the problem .

 

[Eli342]

It goes without saying that there will be gains and losses when starting a new firm. Therefore, if you are experiencing a loss, you should be patient and work to gradually learn from past mistakes in order to build a profitable business. You shouldn't lose faith and decide to abandon that firm because doing so is not a smart option.

 

[Georgeadawara1]

These are some tips in dealing with losses in a company
Make Sure You Are Not Impulsive.
Assess Your Losses Carefully.
Relook at your current expenses. ...
Increase your Income From Various Sources.
Seek Assistance to Cope Emotionally

Yes that's just the reality about it, I believe this are some of the basic steps one should follow in other to succeed and be free from Loses in your business as the case maybe.

 

[Syldan]

I believe everyone is supposed to be educated about losses in business on the fact that it's inevitable no matter how hard you worked. but It can be managed. someone can only understand when he has started and been guided upon steps.
I think the only ways to make someone believe of the risk and losses associated with a business, that person most have to directly involve or introduce into the business.

 

[Shigobad20201]

We are suppose to know we cannot be winning and making profit everytime we do business ,there are times when we have to deal with loss in business , and we should know that lossing does not say we are a bad business man.

 

[Bigi_]

In fact, you cannot understand business loss unless you have been involved in or invested in the business. He can only be guided and steered towards a specific strategy, but he cannot get lost.

 

[Sincerem]

Do you really think there's a way this can be done ? I think for them to really see it in your point of view , The really needs to understand what exactly you are trying to say. you have to say it in a much more easier way they could understand.

 

[Chibson]

i do not believe there is a holy grail or a manual that teaches person how to avoid loses or how to deal with the issue, we all have our various forms of dealing with griefs as humans.

This is actually true to an extent. Different strokes for different folks because people have different ways of dealing with issues pertaining to their businesses.

 

[eenya001]

Sometimes loosing during business is inevitable but dealing with the loss so that it won't affect you in future is what you need to study , know the reason why you fail and get a good solutions the problem .

Knowing why you fail is a very important and critical step to closure for you and the business as well and it would ensure, you do not repeat such error again in your life.

 

[Skysaint]

That's why there's a saying that experience is actually the best teacher although I most times comes with consequences. They are just reasoning based on their imaginations, they just have to be faced with the reality of things.

 

[Sotherefore]

This may be very difficult to be understood. You just have to know the future potential and the potential of your business generally before you even think of establishing it in the first place.

 

[Shigobad20201]

Dealing with loss in business is not easy , it can kill some people if you are not strong , most especially if you start your business with a loan , trying to see the main reason why you failed , getting the best way to solve it and try again.

That's why there's a saying that experience is actually the best teacher although I most times comes with consequences. They are just reasoning based on their imaginations, they just have to be faced with the reality of things.

 

[ganibade]

Actually someone can never understand the losses in business without engaging or investing into business. he can only be guided and directed on some specific strategy but not on lost.

Of course for a business man their must be a check balance in every thing he is doing. There may be falling of business at anytime,so we must prepare our mind to tackle any loss of business.

Actually someone can never understand the losses in business without engaging or investing into business. he can only be guided and directed on some specific strategy but not on lost.

Of course for a business man their must be a check balance in every thing he is doing. There may be falling of business at anytime,so we must prepare our mind to tackle any loss of business

 

[Chibson]

Knowing why you fail is a very important and critical step to closure for you and the business as well and it would ensure, you do not repeat such error again in your life.

if you don't know the reason why you failed, you will continue to fail over and over again. the first step towards solving any problem is knowing the cause of it and from there you can devise a strategy to avoid such problems.

 

[Syldan]

Personally I believe people have different ways of understanding and also learning and I believe the beat way to make someone understand loss in business, is to get him directly involved into the business and he will learn by himself.

 

[Smiles20]

I think the way to go about it is to tell them about the numbers game. It is virtually impossible that you are going to be getting wins every time but then you should ensure that the wins are more than the losses.

 

[glitch]

Most businesses are in debt for several years before they turn a profit. Look at Netflix. They are in massive amounts of debt yet they are still going and still making money.

 

[Skysaint]

Dealing with loss in business is not easy , it can kill some people if you are not strong , most especially if you start your business with a loan , trying to see the main reason why you failed , getting the best way to solve it and try again.

I wouldn't use the word kill, instead I would go for the phrase 'throwing people to depression' as the case may be. And that is also why taking loans ain't really the best for a starter.