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

[Shigobad20201]

I would advise my friend that if you fail in business, don't panic, what happens is for the good, today is bad, today is bad, tomorrow will be better for you. If someone does business, we have both profit and loss, so we have to face such situations. You lose money in business so you learn from that loss how to make a profit we have to think well and we have to face all situations.

I will advise him to keep going on no matter the problem because consistency is the key of making it in a business world , if you grow weary on the way , the business will be affected negatively.

 

[Felixko]

I know most of us have friends who are into business and most of us are also running business . But note, no matter what you do you business must sometimes fails . To me I will always advise a friend who’s always fail never to give up

 

[Setho]

I will advise him to go back to the drawing board immediately and find out the exact cause of what is making the business to fail then he should try to reverse it immediately.

 

[jeff87]

For a business that is not doing good my advice is to hire a business consultant who is also good in marketing. There are business owners who think they can do everything like the marketing and even the selling (if it is a store). When I had a boutique I did the selling but customers were turned off by my face, not a joke, they were scared of me. I had to hire an amiable person to handle the selling. Another thing is the capital. Get more money to spend for the promotion of the business whether in online or offline means.

You have all the correct answer here. There must be business consultant and more capital for advertising and promotion.

 

[Heatman]

If he has tried very well to be able to get the cause of the failure and try to avert it then and was not successful, then he should hire a business management expert instead.

Seriously, I have good reasons to believe that when it comes to any businesses having challenges, it's definitely going to be very obvious to spot the issue.

 

[Setfragil]

For you to keep your business from failing, you need to have the knowledge and experience needed to run and manage a business successfully before you establish it.

 

[Ralphjoe]

I was a passive finance business partner with one small firm. It failed even if it had good products and sales. My advise would be - do not try to grow very fast, do not run into many variety of products, and do not try to capture all type of markets. Go slow n steady and do not try to win a race.

I believe that in a situation like this you can keep the business afloat by introducing new products that would appeal more to the environment and the people that will boost the sales of the business.

 

[Filicit]

I want my friend to be successful so I would always advise him from time to time depending on the present challenge that he may be facing

 

[Chibson]

If I have a friend who have a business that is failing then I will definitely advise him to work with the right people and team.

 

[Thinker009]

I think I would advise him to adhere to financial management And he should certainly know the way and method , he would actually use to manage his own resources properly

 

[Chizfab]

He/she should be first of all, conduct a feasibility study to know how viable and profitable the business is. It also shows you the Strengths, Weaknesses, Opportunities and Threats of a certain and get to know if he can work with what he got from the study.

 

[Hena101]

My advice to everybody not only friends on how to keep his business from failing is he must be focus on the it and not be distracted by what other people are saying.

 

[Alexandoy]

He/she should be first of all, conduct a feasibility study to know how viable and profitable the business is. It also shows you the Strengths, Weaknesses, Opportunities and Threats of a certain and get to know if he can work with what he got from the study.

When the business is already operating and the failure is already starting then a feasibility study is not appropriate to do. The feasibility study is a research to check if the business is feasible or not. When you find the business as feasible then you can do a start up. That is the use of the feasibility study.

 

[Setfragil]

The advice that I will give a friend to prevent his business from failing is to know how to treat his customers very well and not to spend his money on things that doesn't add values to the business.

 

[Kunkun]

I would advice him or her to first try and find out in the business what prompted or started the misfortune because that way it can't be repeated also next is to work on better promoting the business

 

[Shaffy]

It depends on if you have my experience with that type of business. Like I do know about cryptocurrency trading and my first advice would be to know how to diversify your portfolio.

 

[Immilash]

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?

yes that's true ,these are many best ways to keep a business away from falling ,if you ate a business individual you have to be honest in everything you do ,and also you have to plan everything accordingly

 

[Shigobad20201]

To keep your business going , you must be dedicated to your work and also be upgrading your product from time to time , and more so you also need to be advertising your product .

 

[Ezekiel]

The major thing I feel that makes business fall is lack of publicity, inability to create awareness,so of customer,and looking into staff welfare like promotion.

 

[Heatman]

It is very important before you start a business that you should always analyse the strengths and weaknesses of the business in order for you to know exactly what is going to work and not work for the business.