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- #21
Sure they are businesses that will do well with capital. if you have the capital to run a business you would do it better
Top reasons you failed at a business
- Thread starter cherry123
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I agree with you. Money makes the world go round.
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- #23
Without money you can strive perfectly with a business. it is good to Always have funds to run a businessI agree with you. Money makes the world go round.
Yes, it is important to have the funds first and then start a business.
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- #25
This is one area that people fail in it. When you don't have the right funds to finance a business it might just die a natural dead.
I think that not being consistent is one of the main reasons why many people usually fail. People must understand the importance of consistency.
Correct. For this reason, we must make sure that we have the funds and then we start our business. In this way, we can succeed.
The cause of the failure of a business is due to accounts receivable that are difficult to collect. Causing a lack of capital for business operational costs, profits that are too small are also often the reason for business failure.
When we start business we should not use it's selling amount for personal use, once we started doing this my experience tell me that we started moving towards failure. Business profit (up to some percentage) can be use but the money which remain in circulating should not be use personally.
One thing all these small business owners fail at woefully is proper record keeping and this is one of the major contributors to the failures of their businesses. A good record keeping routine is essential for businesses.
This is why it is very necessary for you to have a financial accountant because their duty is very vital when it comes to managing the financial aspect of the company.
One guy in my area closed his phone accessories business because the phone chargers he sold would blow up in two days. Everyone avoided buying anything from him and his business died a natural death.
