What advise would you tell your friend to keep the business from failing?

[Bookwormlux1]

Seriously expenses is one of the thing that kills a lot of business right now because when you fail to manage your expenses without being able to get more funds flowing into your business, that business is definitely going to crash.

This happens due to a lot of them not being able to differentiate between their assets and liabilities, so they spend more on their liabilities without thinking about having some assets.

 

[Heatman]

Exactly once you keep having so many expensive than the money that you are getting as profit for your business it is definitely going to run your business because it will turn to a station Where by you don't really have a capital anymore.

 

[FreshKaz11]

I know some of you have friends who are in business, or maybe you, yourself hàve a business. Sometimes, whether we like it or not, som business fails. What advise would you give yourself or your friend to keep the business from failing?

The best advice to give that kind of person is to keep on pushing on and never give up in life, so is best to keep trying and never give up on your dream if that's what you like doing.

 

[Heatman]

Whenever it comes to business I should give you up that is the end so which is why it's very important for you to be determined and focused in your business even if you're facing challenges.

 

[Bookwormlux1]

Some friends do not listen to advise and they always think that you want them to follow your mindset of doing business. So it's best to let them be.

 

[Sotherefore]

What I will tell my friend to keep his business from failing is that he really got to know the type of people he or she is employing into the business, because this are the set of people that can determine how long your business will last.

 

[Bookwormlux1]

What I will tell my friend to keep his business from failing is that he really got to know the type of people he or she is employing into the business, because this are the set of people that can determine how long your business will last.

Some people are very wicked and won't even consider using their initiative to do something that would lead to business progress. They always want to bring the business down.

 

[Fizzy_boi]

They are definitely lots of advices to give them after making myself a point not view to them I will definitely point out alots of business personel who had similar cases and succeeded because they didn't quit.

 

[Emmado]

What I tell my friend about a business is that, at the early stage of a business that is the best time he should try to get the attention of people and customers, you must know that quality is more important to people than any other thing.

 

[Ralphjoe]

Firstly, he should be very dedicated to his business. All forms of family interference that are not directed to the growth of the business should be eschewed. Proper business planning should be done regularly with adequate budgeting. Then could also have a mentor that would give him daily motivations.

Dedication to a business is very important and crucial to the survival of any business and for a business that is failing if anyone is to be able to be dedicated to the business success I think the business fortunes can be changed for good.

 

[Kelly5]

I will advise my friend to always try as much as he can to always save a portion of his business profits for the business to give it the necessary stability it needs

 

[Sotherefore]

Absolutely.

Some people are very wicked and won't even consider using their initiative to do something that would lead to business progress. They always want to bring the business down.

That's some people that if they had the chance to kill you as the owner of the business, they will do it ,as long as after killing you they will be able to take over your business. These people some of them is our friend and we really need to be careful with the type of people we make friends with

 

[Bookwormlux1]

Some of my friends usually do not spend their income on something profitable and would rather spend on ladies that are not really in them. I advise them to avoid such in business.

 

[Alexandoy]

Some of my friends usually do not spend their income on something profitable and would rather spend on ladies that are not really in them. I advise them to avoid such in business.

Do you mean ladies in the bar or ladies that they are courting? I guess that type of expense is a personal one which should not involve the funds of the business. Even if you are the business owner you can still be charged of embezzlement if there are other owners.

 

[Richard92]

I’d advise he takes the financial management seriously and look for a way to cut cost of production in order to balance the deficit he/she has got. Also @Alexandoy has mentioned in his comment to create awareness in every possible way. Sponsor ads, print flyers, banner and many more

I will ask my friend to improve on managerial structure of the business and also the marketing aspect with these dodgy people to sustain the business and help the business grow.

 

[Setfragil]

The advice I will give a friend to prevent his business from failing is not to use the business capital to buy or invest on the things that will not generate profits for the business.

 

[Jlife]

The advice I will give a friend to prevent his business from failing is not to use the business capital to buy or invest on the things that will not generate profits for the business.

Nice advice, I don't think a passionate business will use the money that is meant for business to invest in any other thing that is not in line with the business they are establishing, this means a huge business failure.

 

[Kane]

If someone continues to fail and lose a lot of money in the due course of time, the only thing I can suggest is to stop doing business and instead star investing on someone else's projects.

 

[Melanie Marie]

Simple advice: Just KEEP ADVERTISING. Sometimes I think so many businesses fail simply because they didn’t get enough exposure.

 

[eLdavis]

Seriously expenses is one of the thing that kills a lot of business right now because when you fail to manage your expenses without being able to get more funds flowing into your business, that business is definitely going to crash.

Very true, one mistake most make is to start upgrading their office or store, by adding more decorations and the likes, yes these things are actually good and need when trying to compete in the market but as a growing business for now your focus would be gain more customers and grow the business to be efficient and effective working with customers.