There are reasons why a business transaction already set may fail. This is a big problem especially if you're expecting a positive result from it. One reason might be the agreement stipulated in the transaction that confuses the other party like interest that doubles once failed to pay on the transacted business. The transacted party might dislike the idea. The expectations didn't come to reality. Money was at waste.
Failed business transactions
- Thread starter Starmix
- Start date
In some cases it could be that one party is not being honest. I have come across some customers who are not honest at all in their dealings. They have already made plans to buy from someone else but they would still come to me, giving me hope like they are ready to buy it instantly.
- Thread starter
- #3
There are reasons why a transaction did not prosper. Perhaps the agreement was changed without consulting the other party. Of course, before signing a deal, both parties need to read the agreement thoroughly and if there are changes without the notice of the other party, that would lead to mistrust.
This has happened to me many times, if you are running a business for a long time, you will notice that this is a frequent phenomenon. For instance, one of my recent transactions involving $150 was rejected by the client.
- Thread starter
- #6
Things happen like that when the other party is not honest. I also cannot fathom the thinking of that person who fails us. There are business operators that rust a person without knowing that person is a fraud.
That's true, that's why business owners should be careful who they dealing with. Just as we have the wrong business owners, there are so wrong customers that we business owners pray not to encounter.
- Thread starter
- #10
There are businesses like that, they are only after their own benefits. They never tink about the struggles of the customers once a transaction is fraudulent. They must be reported to the authorities.
Business transactions can fail because of pressure from stakeholders from the other party. That might cause them to change their minds in the transaction.
We have to use banks that have a high success rate to ensure that we don't frequently have failed transactions.
