Business Torments

[Starmix]

QUIT. Why suffer the torments of your business when you can resolve it immediately by closing it? One reason why feeling tormented in business is the customers’ unpaid debts. You feel guilty for letting them purchase goods through installments. Only very few paid you, thus giving you sleepless nights. Your capital is at stake. It is best to do the following:

• Summon those debtors (See the court first);
• Let them sign a waiver if failed to pay; let the sheriff confiscate their valuable things, and
• Refrain the customers from purchasing goods through installments.

This may be a harsh decision but you need to save your business. Do not close your business for the more those who owed you never will ever pay. What idea could you add to this issue of business tormenting the owner?

 

[IB D]

You have to be very ruthless when dealing with debtors as they can run your business to the ground. They don't have conscience and you should not be treating them as if they are angels.

 

[Starmix]

Yes, you are so right, those business owners failed to control the people buying through installments. It would be better to prepare a compromise agreement before letting them purchase through installments so that it is easier to sue them if there is an agreement.

 

[Shavkat]

If I were in a situation, I would definitely declare bankruptcy. It would lessened my stress for having this business of mine. Besides the point, I do not want to merge with another company as an option.

 

[Stardom22]

I think if you want to succeed in the business you must go with the strickly no credit policy. This is because if you encourage debtor's in your business soon you would close the business.

 

[Starmix]

I think if you want to succeed in the business you must go with the strickly no credit policy. This is because if you encourage debtor's in your business soon you would close the business.

Very good advice, I like it. It is best that way so no one dares to buy in credit. We can add: Credit is good but we need cash hehehe. But the problem is if it's the family members who keep on doing it. It will be a suffocating problem.

 

[Niyi Briggs]

If there's anything that kills business is giving out products without payment. You stand a chance of getting frustrated if they don't pay back on time so to deal with it, avoid it.

 

[eldavis]

This is why it is best to never start your business by giving out credits, cause the truth of the matter is that there are so many businesses today that have fallen due to debts customers refused to pay.

 

[Starmix]

There are debtors that are not sincere in their promises. They cannot anymore be reached. They're hiding signs of refusal to pay. It's good not to allow credit no matter what.

 

[astutimeliana723]

I've been in that situation, when selling offline. Many neighbors like to owe money but they don't pay it. The solution: I stopped the business, because it continues to make my mind uneasy. Instead of causing new problems because I don't allow him to go into debt. I switched to a surefire online business with no one to owe. LOL

 

[Starmix]

There are thick faces and shameless people. They do not have conscience. What did the eat when the store was not yet there. That's good you close your store to avoid adding stresses.

 

[astutimeliana723]

There are thick faces and shameless people. They do not have conscience. What did the eat when the store was not yet there. That's good you close your store to avoid adding stresses.

So instead of stress I better close the store and open it online. I deliberately did not stock items, when there was a new order I made it. So that they don't have a reason to be in debt, I say if there's something there is money. This trick turned out to work. LOL

 

[cherry123]

Debtors are just tomentors I agree with you. The runin businesses with their inability to pay up it is stop the customers from purchasing goods through installments or even on credit

 

[Starmix]

So instead of stress I better close the store and open it online. I deliberately did not stock items, when there was a new order I made it. So that they don't have a reason to be in debt, I say if there's something there is money. This trick turned out to work. LOL

That's good to hear from you that your trick works for you. Offline business is good if the neighbourhood are good payors. If not your business will be affected much.

 

[astutimeliana723]

That's good to hear from you that your trick works for you. Offline business is good if the neighbourhood are good payors. If not your business will be affected much.

That's right. The environment is very influential on business. Sometimes people here prefer to buy things in cash from people they don't know. But buying things from your neighbors is a debt, and so is not paying. LOL.

 

[Starmix]

My cousin cousin has a store but no-one dares to buy on credit. The business owner posted outside that they entertain only buying in cash. Credit is not allowed in my store.

 

[astutimeliana723]

My cousin cousin has a store but no-one dares to buy on credit. The business owner posted outside that they entertain only buying in cash. Credit is not allowed in my store.

It means that the environment there is good, people still know shame. I am glad to hear it. Here even writing like that doesn't give any effect, because many people are shameless. LOL

 

[cherry123]

No need running a business on credit because you would lose big time I know a lot of people do it to attract or keep customers but humans are not worth the trust

 

[Starmix]

It means that the environment there is good, people still know shame. I am glad to hear it. Here even writing like that doesn't give any effect, because many people are shameless. LOL

Why can't you refuse people buying in credit? Can't they understand simple explanation that your business needs cash? It's not good to entertain them, better tell frankly in a polite manner.

 

[astutimeliana723]

Why can't you refuse people buying in credit? Can't they understand simple explanation that your business needs cash? It's not good to entertain them, better tell frankly in a polite manner.

Maybe they can, it's just that they will be hostile to us because they don't want to give debt. They don't want to know if we have money or not, the important thing is that their needs are met. Yes, that's how selfish people are.