What should business owners avoid?

[Ralphjoe]

You're very correct with your submission. Every business owners should avoids unnecessary spending of their business funds, they should avoid buying or spending on things that will not have positive effects or promote the growth of their business.

This is actually the main way through which a company can stay afloat for a very long time without going down because believe you me, finance is the sole Heart of a company.

 

[IamDozzy]

The most important thing for business owners to avoid is bad debts. Bad debts usually cripples businesses. Also the business owner should make sure revenue is more than expenses so as to make profit.

 

[Setfragil]

As a business owner you should avoid selling credit the business or involving friends the business, business owner should never sell low product.

To be sincere, selling and offering credit facilities kills a business faster than any other thing in your business. When many customers default in payments, the business is likely to fail.

 

[Patrik]

fast earnings i would say, business are a lifetime investment, if you hurry up in it, it might take another path you aren't planning for, so take your time and behave wisely

 

[Prettyjanie]

Business owners should avoid familiarity in business be it family or friends. They should also learn to be honest in their dealings with their clients. Business owners should most importantly avoid running into debt.

 

[Psalmseen]

Business owners should avoid dishonesty and make integrity his or her watch word. When customers notices that you ain't a man of your words, they'll discourage other potentially customers and by that the goodwill of the business is declining

 

[Chibson]

There are some certain things business owners should avoid such as indiscipline and lack of self-control. Any businessman who is disciplined will surely succeed.

 

[Snazzy001]

Business owners should avoid leaving above their means, caring less about the welfare of the staff and they should embrace innovative ideas

 

[Razor1911]

Business owners should avoid leaving above their means, caring less about the welfare of the staff and they should embrace innovative ideas

That seems like a very common problem everywhere. The higher authorities are rude and talk harshly with the subordinates. Sitting at the top positions at least they should try to be polite .

 

[Psalmseen]

There are lots of acts that drains and kills business that every business owner must avoid. One of these is borrowing excessively. Too much borrowings ruins a business. You need to raise funds through another means

 

[Josemendez]

The possibility of sustaining a business starts from the onset . The business need to pass through a feasibility plan , needs constant monitoring and good management plans

 

[Razor1911]

The possibility of sustaining a business starts from the onset . The business need to pass through a feasibility plan , needs constant monitoring and good management plans

the three components you have mentioned is the most vital of sustaining any business. Feasibility of plan followed by execution of plan these are the main two pillars of successful business.

 

[Jlife]

Running into series of debt and having low reputation and trust will run down such business prematurely.

This is one of the things that can also bring down a business, I think that giving goods and services on credit as a business organisation can also bring down your business because this people you are giving credit to do no really take your business serious

 

[Justin]

There a re a lot of things that business owner needs to avoid and some of them are unnecessary expenses and over staffing. These two things might cause business failure.

 

[GIFTMICHAEL]

Its not easy managing a business, it require steady cash flow. If a business owner is mean, resilient, and doesn't take his or her business for fool's stuff, spending money unnecessarily, surely the business won't grow.

 

[Sincerem]

This is one of the things that can also bring down a business, I think that giving goods and services on credit as a business organisation can also bring down your business because this people you are giving credit to do no really take your business serious

Sure, we should be somehow strict, resilient when dealing on business. Not given credit to people, but few trusted customers. Excessive credit will lead to too much owe and can hinder the business progress.

 

[Ralphjoe]

Its not easy managing a business, it require steady cash flow. If a business owner is mean, resilient, and doesn't take his or her business for fool's stuff, spending money unnecessarily, surely the business won't grow.

One of the greatest problem that impedes most businesses as you have said is the ability to be financially reckless and if any business owner is able to be financially disciplined and the cost of running a business that business would definitely become successful as it mostly finance that is the heartbeat of any business.

 

[Jlife]

Sure, we should be somehow strict, resilient when dealing on business. Not given credit to people, but few trusted customers. Excessive credit will lead to too much owe and can hinder the business progress.

don't you really think it will be a wise decision not to even give credit to people at all even if they are trusted ?I just believe when you give an opportunity for that a lot of people will start taking you for granted.

 

[Sincerem]

don't you really think it will be a wise decision not to even give credit to people at all even if they are trusted ?I just believe when you give an opportunity for that a lot of people will start taking you for granted.

You're right dear. Some customers don't value your benevolent act. Even when you trust them by offering them goods in credit, they start joking with you.

 

[Hena101]

When a business is booming the owner first need to avoid collecting debt to add to the business, avoid unnecessary expenses to his family and siblings and also avoid been dishonest to his customers if he or she want the business to continue he must plan ahead.