How to avoid losses in new and old business.

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(Edited)

Hello Hive

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Everyone desires a business and an Investment where they can invest their money and watch it grow instead of encountering a loss.
Losing money to a business has always been seen as a pointer that such business is not a good one and advice will fly out like insects spreading the news for others not to invest in such businesses.

The truth is there is hardly any business where someone has not lost money before.
In fact an Investment that has earn your trillions of dollars might have wrecked someone else in the past.

The important thing to lookout for in business includes the strategy and policy used to run such businesses.
These policies will determine if you will make more profit and grow your investment or if your business will collapse in the end.

Many haven't done a thorough business plan to determine what will sell well and in which community.
You can't set up a beer shop in Muslim residented area as alcohol is a taboo for every practicing Muslims neither can you start a book selling shop in a village where study isn't valued.

Many factors affect the output of businesses and some of these can be

  • Business location

  • The quality of staff or personelle employed in the company

  • Management of funds and accounting.

And several others, all of these have to be put into consideration to determine if a business will thrive well or is heading to doom.

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11 comments
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Bang, I did it again... I just rehived your post!
Week 119 of my contest just started...you can now check the winners of the previous week!
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You can't set up a beer shop in Muslim residented area as alcohol is a taboo for every practicing Muslims neither can you start a book selling shop in a village where study isn't valued.

Lol, you made my morning its time I go for breakfast Monica.

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Ive lost too much in prior years on bad trading. Trying to be smarter from now on. Keep rockin Monica.

!LUV

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Thesame as I too.
Thank Goodness we have learnt better on Leofinance.

Am sure we will do great.

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