Business Ideas How to prevent business from failing

[btaliat]

Business owners should not run away from failure but rather should try all his best to prevent failure. And if the failure is inevitable, he should try to learn from the failure. He can learn from the failure by doing the followings : A business owner must look back to know what caused the failure. He should change his strategy. If what he did before is to go after profits first, then he should change the tactics by satisfying customers first before he thinks of profits.

A business owner must study his location, at times, location determines the success or failures of businesses. If the location is not suitable, he should change it lest the business fails again. For instance, setting up a alcoholic business in a Muslim area.

In conclusion, a business owner must take to consideration, the views of his customers. There should be effective after sale service. He needs to listen and listen attentively to the reviews of his customers whether negative or positive.
I think all these will prevent a failing business of properly managed.​

 

[IamDozzy]

Salient points you have given concerning the prevention of Business failure. A lot of young business owners do not know what is means by perseverance in the midst of failure in business. Most business owners should developed the habit of always learning from failure to further improve on their business. A lot of scientist such as Michael Faraday, Isaac Newton even Elon Musk all failed initially on first or second trail but they kept pushing and eventually succeeded in their endeavors.

 

[Setfragil]

You can prevent your business from falling by taking the right decision and the right steps at the right time. There is no business that is not threatening by challenges, when the situation arises we must be decisive in our decision to solve it. We can also learn from those that are in the same line of business to educate you on how to successfully manage the business to prevent it from falling.

 

[Janiya]

To prevent business from failing we can only do one thing that in every case in every path of business we have to take better decisions related to the business and the employees is well because most of the time we only consider the the profit and business condition not the employees condition and we all know that our complete business depends on the working of employees so we should consider all these things and we all should try our best to take good and better decisions and concerned with the elders are the business partners as well because everyone shares their experiences to you greatly so in this way we can prevent or business going on bed side.

 

[Doradorwa]

When you are starting a business, all you need to do is too put your best in it and watch it well. The fact that your best was invested does not mean that the business might not fail. Infact a successful business person is the one who know when to stop, rethink, then stop again, then rebuild. That's how success stories are spelt out.

 

[TOZZIBLINKZ]

Many business fall today because of poor management,so i think the best way to prevent the falling of business is to have a good managing system,have a records of what you sale daily,budget well,also know what you spend by this way i think you will be able to prevent your business from falling

 

[Alexandoy]

I don't think there is a sure fire way to prevent business from failing because if the textbook is accurate then all businesses will be successful. But at any rate the focus of the manager or business owner can be a great contribution to prevent the failure of the business. There are so many factors for failure so we really cannot determine.

 

[Mellorando]

There a lot of factors that could make a business to crumble or fall buddy most common one that most business owner fall victim to his giving goods on credit to customers this is risky because in most cases this lead to bad debtand when a business owner and kills a lot of bad debt the business financial standing will fall

 

[Samuel72]

As a business owner you should learn never to give up in your business, every business owner should learn never to run away from failure, and also should have believed in their business. You need to be hard working and hold on to your business, for your business to become successful, when it comes to business they're bad times and they're good times but we need to hold on.

 

[Dora Wi]

Persistence and learning from your mistakes are both very important things, like you said. It's best if you can stick to your goals, but changing the way you approach those goals is always possible. It often takes quite a bit of trial and error to get to a point where your business is truly a successful endeavour.

 

[TOZZIBLINKZ]

Many business operators find it difficult to grow their business,why? Maybe most of their customers get their products in credit, promising to pay back within a few days but as time goes on they can't pay back the credit in time, when it happens this way there business owner find it difficult to get more products into the shop, if care is not taken the business will fall or scramble, so I think avoiding more credit will help to stop business failure.

 

[Mika]

A business fails due to two reasons. Well, there might be many but I will focus on two common reasons. A business will fail when customers do no return, in other words, your customers do not come to you to buy again. This usually happen when the they are not satisfied with the product they bought from you are you are not doing enough to make them return.