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Business strategy
Friends and family can ruin your business
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[QUOTE="Kendy, post: 215728, member: 63869"] No doubt, friends and family can and have always ruined businesses for a lot of people and this is the more reason people do not prefer partnership in business. Business on a normal level should be free from sentiments or affiliations. It is best to run a business where you are not disposed to your acquaintances this is because in most cases, no matter how you vow not to sell your products on credit or compromise, you would always find yourself in a state of dilemma where you would have to make a quick review on your initial stance or position. In business, when once you start compromising, then you do not need a soothsayer to tell you that the business would never reach the apex or peak of sustainability. Most businesses are ruined because the entrepreneur had compromised through pity for friends and family and it is not always surprising that eventually, when the business declines or crumble, the same acquaintances would be the first set of people to apportion blame to you for mismanagement. I have had such encounter where I started a business which did not thrive even upto a year and this was because the business was operating near my family house and virtually I was selling the food items on credit which I never got to get the money and this was how the business went down the drench because of lack of funds to reinvest. [/QUOTE]
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