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What are the many ways to prevent business failures

Brain

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I don't think anyone will get into a business to fail. But sometimes it always beyond our control and before you know a business we started with some huge capital collapses. What are there ways and things we can do to prevent business failure. I know taking feasible study is very important. What are the others things we should do to arrest failure.
 
before starting a business , you gotta think about every possibility that can interrupt your business , with other words , you have to think about every possible thing that can happen in the future and put a solution for it or even find a way to prevent it from happening at the first place , and in case if it happens , you find that you have a pre-made solution for it .
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I think you can't avoid all problems and go to straight succes
the best thing to avoid failure is to not risk what you can't lose
this is the best advice
 
The bad management is a reason, before even thinking about starting a business you have to think about every situation that's considered as a risk for your business so you can think about solutions too to avoid them or solve them quickly whenever they occur .
 
Another factor to consider is having full knowledge of the business, financial prudency likewise employing people who you can easily set target for to deliver with time.
 
Another factor to consider is having full knowledge of the business, financial prudency likewise employing people who you can easily set target for to deliver with time.
I don't thnik you can have a full knowledge about something as a business like it's impossible to be able to know every corner of it but you can have and idea about it this is why when you start it you will start learning things and know more
 
My take is that risks always remain with a business. I have seen the example of a businessman Anil Ambani in India. He and his brother Mukesh Ambani split a big Business empire inherited from their father.
Anil Ambani took the relatively faster growing or new emerging field Business like Power, Telecom, Media, Finance.
Mukesh took Petrochemicals, Textiles etc.
Yet down the line, Anil who too was foreign MBA educated and intelligent started suffering badly as his well planned and growing ventures started to fail miserably.
Finally, he had to apply for debt restructuring and took help of many banks.

Yet, if one can plan ahead, adapt to change fast and have a good top management team, then one can do much better.
 
Risk is inevitable for every busineses to survive and be sustained, commitment and prudency is also very important. Mukesh must have his business collapse as a result of certain factors he didn't take into consideration, I wish you can dog further on why he experienced such great loss. Bigger busineses takes bigger calculated risk.
 
everything related to businesses is a risk, you can't enjoy a job without risk.
you must study very well your situation and be ready for all the results of that whether it's positive or negative.

just do your plan and ask people who have experience in the field that you want to work in, maybe they will help you or give you some experience that happened with them
 
everything related to businesses is a risk, you can't enjoy a job without risk.
you must study very well your situation and be ready for all the results of that whether it's positive or negative.

just do your plan and ask people who have experience in the field that you want to work in, maybe they will help you or give you some experience that happened with them
Yeah , another thing people fail to understand is that the way to grow a business from scratch is far different from expanding or effecting changes on already existing busineses.
 
Try out small first, if a business is profitable, time to scale it larger. Trial-and-error in this part is important. If an idea doesn't work then ditch it.
 
The best shot of starting a business is to test run on a small scale and if you succeed then scale up , if it is a business that you inherited don't be hurry to make drastic changes , let the policies and people roll for a while so that you check out and learn morebbefore making decisions. The moment the threat of a business and you work on it, failure will not find a way.
 
You should avoid falling in risk thats a big rule. Before a company dies it passes risk stage so your responsibility will be to avoid such condition. Do not try to get unusual profit that may boomerang sometimes. Rather small normal profits are better to have.
 
Sometimes you can't get success without taking risk. Constantly challenging yourself to get better and better so that you won't get stuck in your comfort zone is important for your own self-development. No risk = no gain.
 
You should avoid falling in risk thats a big rule. Before a company dies it passes risk stage so your responsibility will be to avoid such condition. Do not try to get unusual profit that may boomerang sometimes. Rather small normal profits are better to have.
if you have a project with no risk then learn us that method, it's impossible to make much money with no risk in that life
to success in any field, you have to use your mind and your experience and start ^^
 
The bad management is a reason, before even thinking about starting a business you have to think about every situation that's considered as a risk for your business so you can think about solutions too to avoid them or solve them quickly whenever they occur .
This is so true. You need to first learn to manage the problems that might occur. You need to know them before they occur and know their solution. You don't wait until a problem has occurred is when you want to solve it.
 
Business management entails a lot which include risk, financial, occupational safety and human resources management so it very important that every business manager ensure he or she have basic knowledge on these aspect before managing a business so that success can be achieved.
 
if you have a project with no risk then learn us that method, it's impossible to make much money with no risk in that life
to success in any field, you have to use your mind and your experience and start ^^

yes there is risk. almost everywhere if money is involved. if any businessman just see the risk first he may have a habit of avoiding upcoming trouble. that was my suggestion.
 
I don't think anyone will get into a business to fail. But sometimes it always beyond our control and before you know a business we started with some huge capital collapses. What are there ways and things we can do to prevent business failure. I know taking feasible study is very important. What are the others things we should do to arrest failure.
I think in addition to having a feasibility study and plan . it is paramount you check your competitors and see what their products are lacking and look for a way to improve on it with yours .
It is also advice you use a survey to access what people think about the product
 
Another factor to consider is the nature of the business and marketing skills available, some companies have good products but if they don't market it well, it will not sell and the business may find it difficult to make profit and eventually collapse.
 

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