What's the worst business strategy you've ever seen?

[Abigael]

The worst business strategy that I have ever witness among my neighbors is family members taking things from the shop without paying. This lead to the collapse of that business so early. Moreover, there was no specific person running the business, so anyone from the family could and do whatever they wanted in the shop. No records were kept and some even gave out goods on credit without asking for payment soon.

 

[FunkE]

For me, the classical one is lack of adequate knowledge of a business before setting it up. You don't know if the business is a long term one and went into it with short-term plans or not realizing a business was based on trends at that moment that wouldn't last but putting your long term investment on it.
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For me, the classical one is lack of adequate knowledge of a business before setting it up. You don't know if the business is a long term one and went into it with short-term plans or not realizing a business was based on trends at that moment that wouldn't last but putting your long term investment on it.

 

[adazeez1995]

It's poor spending habits. As a good business man, especially newbies, you have to be conscious of the way you spend. Your spending should be from your profits and not your capital. And for a better business growth, 40% of your profits should be added to your next capital, otherwise you will still remain in the same spot.

 

[Ayoknl]

One of the worst strategy I've seen is having a poor idea/knowledge about an enterprise before venturing into it. It's a risky model to follow, Even the employees have a good knowledge the business owner still has to have a good knowledge so as to follow the business development

 

[Adebola]

The worst business strategy i have even come across will the going into business because you feel it is a trending business. That others are making it there doesn't mean you will look for what works for you

 

[Adventurer]

Some sellers making videos and begging for sales on Instagram! That's the worst I've seen, no matter how bad it is you must not display your weakness, some even go as far as saying they haven't eaten and that's why you should patronise them

 

[Dowenship]

This is an open conversation, so you are free to make contributions let's learn together.

Well i wont really call it a worst strategy but heartless. Although there was pandemic during that time and the organisation decided to pay a ransom money to the government to sack their staffs

 

[Ziki]

People start up business without a business plan. This should not be done. No matter how small scaled the business is, it should always have a business plan.

 

[Kunkun]

Having a poor customer service is a bad business strategy to me, also thinking about your customers after setting up is also bad and can be detrimental to such business

 

[joy101]

The worst business strategy I have ever see, to start a business without proper planning, it can bring the business down never to perform very well.

 

[btaliat]

The worst business strategy I have seen is using family members to run a business. There won't be effectiveness in this case. Because there won't be effective sanction if a member fails to perform his functions well.

 

[GIFTMICHAEL]

I don't own a business that is outdoor. I have a plantations farm, and garden where i plant fruits. That one i manage well, at the moment i have no business failure.

 

[Victor001]

Knowing when to stop taking risk, running a business on debt, using debt to settle debt, poor decisive skill, always wanting to fall in the trend.

 

[Jlife]

The worst business strategy i know is going into a business with the aim of making profit only,sometimes if you're going into a business with this mindset you may not likely to succeed because there are lot of challenges that can slow down the rate of profit you will make in your business.

 

[Sincerem]

Those who started a business in a very bad location with low population rate, without ideas of such business, no vision at all.

 

[Kane]

Trying to start multiple businesses at the same time can be considered one of the worst business strategy because you are likely to fail when you re doing multiple businesses

 

[Senator]

The worst advertising strategy I can also talk about is the way in resent times, though it's now been happening for a while now, naked and unclad ladies for products advertising is becoming so normal

 

[FreshKaz11]

This is an open conversation, so you are free to make contributions let's learn together.

To be candid not the type that do watch or listing to advertisement so I really don't know about this,but open this thread to see members comments as well to know their own experience about it.

 

[Good-Person]

I have seen many people getting involved in business about which they had no idea and I believe that it is the worst strategy to begin with. They ended up suffering from loss. Starting a complex business without proper planning is the worst business strategy. You should start with small capital and run a business on small scale if you have no experience. There is no reason to invest big capital if you have a lack of experience.

 

[Kelly5]

The worst advertising strategy I can also talk about is the way in resent times, though it's now been happening for a while now, naked and unclad ladies for products advertising is becoming so normal

This has been going on for much more longer than recently now. This is the internet age and the jet age they'll call it. If you don't see any of these, they'll think something went wrong