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

[eLdavis]

I will like to advice my friends when going into business them should really plan about their business very well, so that the business will keep growing because business without good planning will not succeed.

True planning is everything in a business but where would you advise them to focus on when making their business plan?

 

[tyrim88]

Reason for not failure of business is marketing strategy selling of market demand goods

There are variuos reason for the failure of most busineses,one of them is the lack of proper accountability of financial records,and another is the issue of lack of good marketing strategy to be attracting customers on a constant basis to the business.

 

[Smiles20]

If i have a friend who is business is failing then I will allow him to go back today drawing table and try to identify exactly what is wrong with the business. In this way we can carefully look out for a permanent solution to it.

 

[greenie]

Firstly, the failing is a nature of business that happened in a while without able to prevent it. But it happens you need to make research on the causes of the failure?, what is the problem you have about your business?, what is your weakness on the business?, from there you will able to find solutions to it.

 

[Swazykid4all]

I'll advise him to have a journal or a book in which he records all day to day transaction,he should not be a wasteful person and add value to his business.

 

[Sotherefore]

I'll advise him to have a journal or a book in which he records all day to day transaction,he should not be a wasteful person and add value to his business.

So won't he has an accountant to take care of all the record-keeping of the business organisation ? A business owner will not be able to do this except in a business is just at the early stage which does not grow to a full potential business.

 

[Grandeur]

To keep a business from falling is simple, just keep learning and growing find your weak areas and work on them, carry out feasibility studies and learn from there and continue building consistency.

 

[Lens]

To keep a business from falling is simple, just keep learning and growing find your weak areas and work on them, carry out feasibility studies and learn from there and continue building consistency.

For a friend to keep the business from failing, you will have to understand the risk that the business has and look for ways to combat the risk. Once you know the risk the rest is history.

 

[Setho]

Whenever someone notices that their business is failing I think that the advice I am going to give them is that they should be very intentional about it. This means that they should sit down and actually do research into exactly what is causing the business to fail and then bringing solutions on how they can be able to avoid it or make it slower.

 

[Shigobad20201]

For a friend to keep the business from failing, you will have to understand the risk that the business has and look for ways to combat the risk. Once you know the risk the rest is history.

The advise is to be consistence and not get weary , because most of the time in business , you just feels like quitting but if he or she can focus , the business might stand on its feet,

 

[Setho]

If I have a friend that his business is failing or inside the risk of failing I am going to advise them that they should try as much as possible to cut down things that they do not need. This is going to be some company assets or some ongoing projects.

 

[Shigobad20201]

Advising him to think about the negative effects on the business by going through all the issues that the business might be facing And working towards the possible solution .

 

[Sincerem]

It is quite evident that some business fail because of wrong positioning or location. So if that is the case I will advice such a friend to change the location of his business so that he can attract the right kind of customers so his products can sell efficiently and thus maximize profit.

 

[Bookwormlux1]

I advise my friends t make sure they acquire the necessary knowledge needed first as this is the only way to get it right and not expect to get rich over night. This keeps them going always.

 

[tray591]

I advise my friends t make sure they acquire the necessary knowledge needed first as this is the only way to get it right and not expect to get rich over night. This keeps them going always.

knowledge is always the key and I do beleive that when you have the knowledge you can manage your business properly to bring good profit,I also advice them to spend less when the business is new when your business start bringing profit you will know and start enjoying the benefit from there,also treat your customer well so they can come back

 

[Shigobad20201]

Before he or she can start a business , he must have made the neccesary research and gather the knowledge needed for the business before starting and he also need consistency.

I advise my friends t make sure they acquire the necessary knowledge needed first as this is the only way to get it right and not expect to get rich over night. This keeps them going always.

 

[Bookwormlux1]

I would advise any real friend of mine to make sure that they acquire the necessary knowledge before even getting to start business so they don't end up in regrets.

 

[Shigobad20201]

Firstly , working harder and being consistent is the only way to keep the business moving forward and he need to study his business to know where he's making mistakes and correct the mistakes .

 

[Sotherefore]

In just a simple explanation if you can be able to establish a business in a good location , and you have a deep understanding of what you are dealing on then you can definitely succeed in your business.

 

[Bookwormlux1]

I tell my friends to try as much as possible to see to it that they find out what is wrong with the business, and proffer a possible solution first before thinking about quitting the business .