btaliat
VIP Contributor
Many people have many motives for establishing businesses but to be blunt, the principal motive is to make money. While others may be to serve as legacy for children, social responsibility among others.
How will you describe a failed business? And when does a business even fail? There may not be general yardstick to measure the failure of a business. While people may be seeing business as being a failure, the owner may not even see it that same way depending on his motive for the business.
A business that's not making enough revenue for itself maybe termed as unsuccessful business. And in the real sense, if the owner is not after the revenue generated, he won't even see this as failure. I know of a school owner that's not making money through this business but he's not bothered. He always want the best for the students rather than the financial aspect of the business.
How will you describe a failed business in your own term?
How will you describe a failed business? And when does a business even fail? There may not be general yardstick to measure the failure of a business. While people may be seeing business as being a failure, the owner may not even see it that same way depending on his motive for the business.
A business that's not making enough revenue for itself maybe termed as unsuccessful business. And in the real sense, if the owner is not after the revenue generated, he won't even see this as failure. I know of a school owner that's not making money through this business but he's not bothered. He always want the best for the students rather than the financial aspect of the business.
How will you describe a failed business in your own term?