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

[Kelly5]

When it comes to running a business, we must know that no one knows it all. There are aspects of the business that your strength is shown and dominant and some not as dominant. Let people with the necessary skill handle that less dominant aspect for you

 

[Chibson]

it is very important that anyone who wants to venture into any business must have knowledge and understanding of how such business works well.

 

[Setfragil]

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.

Some people don't really care on what they spend their money on. They will spend money on frivolities, parties and on things that does not have positive impacts on the progress of the business till they finish the business working capital.

 

[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

An advisor that will tell my friend for keeping the business from falling is to improve in creativity and brand of the product with this year she will be able to keep his product alive.

 

[Heatman]

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.

Exactly, whenever it comes to a new business, the most important thing is to grow the business background by growing your customers base to have trust in your business.

 

[eLdavis]

Exactly, whenever it comes to a new business, the most important thing is to grow the business background by growing your customers base to have trust in your business.

You are right. For a new and growing business, building customer trust in your business is a very important factor. Customers plays a major role in your business, so to have a successful and profitable business you need to make your customers trust you so they can be regulars.

 

[Jlife]

Some people don't really care on what they spend their money on. They will spend money on frivolities, parties and on things that does not have positive impacts on the progress of the business till they finish the business working capital.

Such people are not naturally business inclined individual because a talented business personnel can never do such a thing, even you ,I know you will not be able to do such a thing in any business you are doing.

 

[Heatman]

You are right. For a new and growing business, building customer trust in your business is a very important factor. Customers plays a major role in your business, so to have a successful and profitable business you need to make your customers trust you so they can be regulars.

Exactly, all businesses are set up to be sold to one particular set of customers and without them, the business is as good as dead because the business products and services won't sell.

 

[Immilash]

There are many advice to give a friend who's business is falling
You need to encourage him or her tell him all sorts of inspiration and motivational quotes which might help him allot

 

[eLdavis]

Exactly, all businesses are set up to be sold to one particular set of customers and without them, the business is as good as dead because the business products and services won't sell.

Very true. Just like what you just said now, there are certain persons who go into business without actually knowing the set of persons they need to attract for their business. They end up targeting the wrong set. This is why most might complain about not having customers.

 

[Setfragil]

Such people are not naturally business inclined individual because a talented business personnel can never do such a thing, even you ,I know you will not be able to do such a thing in any business you are doing.

It is not that some are not business inclined but they are not financially discipline in their spending and managing of business resources at their disposal.

 

[BrolySSJ]

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?

I think that the most important piece of advice that you can give to anyone getting into a business is to ensure that they do the correct research and take the time to ensure that all of the competition within the area is also accounted for.

 

[Jlife]

It is not that some are not business inclined but they are not financially discipline in their spending and managing of business resources at their disposal.

But a responsible and business inclined individual should know how to spend responsibly in any business they are doing because this is an automatic habit for every business owner.. if they are not able to do it then they are not qualified to start a business.

 

[Heatman]

Very true. Just like what you just said now, there are certain persons who go into business without actually knowing the set of persons they need to attract for their business. They end up targeting the wrong set. This is why most might complain about not having customers.

Seriously, this is one of the biggest challenges and mistakes most people make when it comes to starting a new business with half cooked information.

 

[Chibson]

if I am in the position to help my friend to reposition his business then I will definitely tell him to make a lot of research about the business venture he's into.

 

[eLdavis]

Seriously, this is one of the biggest challenges and mistakes most people make when it comes to starting a new business with half cooked information.

Exactly, and this mostly happens because we tend to not want to learn, we do not take our time to study about the business before we go into it, or ask relevant questions. We just feel because someone we know has done it and is doing fine, do we should do it as well.

 

[delnovem]

He or she has to be focus, diligent, discipline and also open his or her mind to new idea no matter who is giving the ideas.

 

[Chibson]

running a successful business is not easy and anyone who wants to venture into any business should have proper knowledge of it.

 

[skyliequiz]

My key piece of advise would be to pull yourself up. Start moving again, even if you're not sure where you're going. Once you've started your journey, look at failure as a chance to learn from your decisions so that you don't end yourself in the same scenario again.

 

[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

1 advise that I will tell my friend to keep his business on falling is for him to be able to manage expenses because most times are necessary expenses run down businesses.