Managing business looses

Kerryjoy

Kerryjoy

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Hello entrepreneurs,

We all know that setting up a business requires a lot of investments, especially money, time and many more. But there comes a time when the unexpected happens, let's say a robbery sor during a demonstration or even a fire and everything is gone in a blink of an eye. This is the most worst feelings to a business owner. But how do people manage or this, is an insurance very important in business??
 
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SHAHID987

SHAHID987

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When we start business we know that as we may face loses, so first thing is to get prepared for it. Second thing is to save some money in reserve for sudden crises in business as at the time of losses we can use that reserve money.
 
nomad

nomad

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How can you expect profits without encountering losses. You never make profits from day one, sometines it takes 6-7 months to start seeing sales
 
eldavis

eldavis

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In situations like fire and the likes you make mention of, I think most businesses tend to fall to insurance. For some they try to keep funds for situations like this.
 
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Stardom22

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As for me l think that is the most difficult part of the business as far as the management for the business is concerned.
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As for me l think that is the most difficult part of the business as far as the management for the business is concerned.
 
freelancermaria

freelancermaria

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Yes, having insurance can be beneficial in these cases. It is certainly worth considering, especially if you are a business owner. However, its relevancy greatly depends on the type of business you run.
 
cherry123

cherry123

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Managing losses is not easy but you need to adopt business management skill and operations. In a way that it will help you prevent the loses in business.
 
Starmix

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You have to ensure your business against fire and robbery to a total losses. It it be the insurance company to shoulder all depending on your premiums made.
 

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