Business Failure and Bankruptcy

[Heatman]

My milk tea business in the mall has only one employee, my sister. She was trained on how to handle the mixing based on business franchising. I have offline work, so I cannot mange it by myself. I pay my sister weekly.

This is what I'm talking about hiring someone that have knowledge about the business so that the person can be able to engage and manage business very well even when you are not around as the business owner or that you don't even have much knowledge on the business.

 

[Starmix]

This is what I'm talking about hiring someone that have knowledge about the business so that the person can be able to engage and manage business very well even when you are not around as the business owner or that you don't even have much knowledge on the business.

Yes, you are so right. At first, my sister was so hesitant for fear that she might not be able to mix the milk tea properly. But the trainer graded here perfectly. She is now a very good partner in my milk tea-selling business. She can dispose of 150 bucks weekly.

 

[Heatman]

Yes, you are so right. At first, my sister was so hesitant for fear that she might not be able to mix the milk tea properly. But the trainer graded here perfectly. She is now a very good partner in my milk tea-selling business. She can dispose of 150 bucks weekly.

This is why training is very important in any kind of business even for those that are already experts in the field. They need to undergo training from time to time so that they will sharpen their skills in their business in order for them to be outstanding all the time.

 

[Bisolami]

If you lack experience in taking care of your business very well and you should also ensure that you have the capital to hire human resources with experience to run the business for you so that they will do all the work and you will take the profit and be the one to pay them.

I believe that the person will need to monitor the business in one way or the other because he stills needs to monitor what the experts are doing.

 

[flower]

Sometimes bankruptcy may be inevitable because there is no way you can ensure that your business is not bankrupt by not engaging in proper business management . That is why it is important to ensure that you manage your business properly.

 

[Starmix]

This is why training is very important in any kind of business even for those that are already experts in the field. They need to undergo training from time to time so that they will sharpen their skills in their business in order for them to be outstanding all the time.

That's right ignorance is not an excuse, To undergo training means a lifetime advantage because it will not depart from you but could help us build a very strong business foundation. I am for training first before acting.

 

[Reedex]

Bankruptcy and business failure are the same thing because when a business bankrupt, it has failed.

 

[Starmix]

A business could fail but not bankrupt. It might fail in some aspects unlike in bankruptcy hard for the business to stand where it falls. It might fail on serving people what they need or services poor, but these could be remedied.