How will you describe a failed business?

[btaliat]

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?

 

[Sherman198]

As you have stated up there, many people have different reasons for setting up a business but I will say the cogent reason why almost 90% of people, if not all, set up a business is to make some viable profits.

You can't run a business and not want to make a profit, is it a charity? Or are you a philanthropist? Even at that, you will still have a source of income, maybe through funding or some other ways.

A failed business: I will say a business can be seen as a failure, if it's not adding any crucial value to lives and for this reason stop yielding any profits.

 

[sincerem]

Everyone's motive of establishing a business initiative is to drive money, nothing like building up legacy for children. If you don't make money how will you carter for those children?? So you make money, you invest more and save more for emergency relief funds for tomorrow. Then maintain the business long time, when you're no more, your children can continue from there.

 

[btaliat]

Everyone's motive of establishing a business initiative is to drive money, nothing like building up legacy for children. If you don't make money how will you carter for those children?? So you make money, you invest more and save more for emergency relief funds for tomorrow. Then maintain the business long time, when you're no more, your children can continue from there.

I made an example of a school owner that doesn't have much but he cares less. He said his motive it is not the miney first. He said in as much the products of this school are making it in their exams, that's his primary motive. He told us never to make money out primary motive while setting up a business because we may be discouraged to continue if the money doesn't come as expected.

 

[sincerem]

I made an example of a school owner that doesn't have much but he cares less. He said his motive it is not the miney first. He said in as much the products of this school are making it in their exams, that's his primary motive. He told us never to make money out primary motive while setting up a business because we may be discouraged to continue if the money doesn't come as expected.

That's nice encouragement the owner of the school carried out. We shouldn't make money our primary priority when starting a business. Even if money drives, we should do the needful, drive passion for what we choose to offer. Be consistent with it, work hard surely money will come.

 

[Good luck]

A failed business can be described as a building without a solid foundation and as we know a building without a good foundation will definitely fall.A business is something that requires foresight and good orientation.

 

[btaliat]

A failed business can be described as a building without a solid foundation and as we know a building without a good foundation will definitely fall.A business is something that requires foresight and good orientation.

I am in love with this short but powerful message. Many people have been thinking a business that's not making money has failed. But with your post, it shows that a business may be making money and still be described as a failed business if it lacks insight and foresight. There are some business owners that can't even vouch for the existence of their business in the next five years despite making money now.

 

[btaliat]

That's nice encouragement the owner of the school carried out. We shouldn't make money our primary priority when starting a busineybirientstss. Even if money drives, we should do the needful, drive passion for what we choose to offer. Be consistent with it, work hard surely money will come.

Ever since my daddy has told me that we don't work for money but we work for value. I had changed my orientation. He said it is only a man without vision that works for money. He only thinks on how to satisfy his basic needs. But a man with vision will allow money to be working for him by creating value for himself first and he will now be the only one suitable for any circumstance.

 

[sincerem]

Ever since my daddy has told me that we don't work for money but we work for value. I had changed my orientation. He said it is only a man without vision that works for money. He only thinks on how to satisfy his basic needs. But a matter with vision will allow money to be working for him by creating value for himself first and he will now be the only one suitable for any circumstance.

You spoke maturely no doubt. We shouldn't put money first in whatever business we're doing for life. We should have vision, with vision we can move forward and drive steady income without ceasing. Those who only needs more at quick time to solve their immediate needs, aren't futuristic, they end up facing financial degradation in the future.

 

[Alexandoy]

I consider a business is failed when the capital is exhausted and there is no clearer means of recovery. When the option of closing is the only way to stop the losses then that is a failed business. However, some business owners have ways to push some more especially those with assets that they can sell.

 

[Mika]

The general rule of thumb is when your business is not generating enough revenue to run the business and manage the running cost, your business is heading towards failure. If your business debt keeps on increasing and there is no way to drive more sales, I think you need to liquidate your business.

 

[Chibson]

Whether anyone agree is or not the primary purpose of any business is to make money. It is therefore very easy to describe a business that does not generate enough profit has he supposed to be and the owner is not doing anything to better the condition of the business, as failed. Any business that does not serve the purpose in which it was established and there is no solid plan for it to serve that purpose can also be described as failed.