How can a business provide financial security for itself

[cherry123]

This is to help business owners how can one run a business to be financially sufficient to fund a lot of projects that might want to be carried out by the owner

 

[Bisolami]

This is to help business owners how can one run a business to be financially sufficient to fund a lot of projects that might want to be carried out by the owner

The company should have a very good accountant and people that can manage the companies fund effectively so that money will not be wasted

 

[Augustus kparobo]

Well for one business to continue in success and be able to funds all it projects are dependent on the fact of how well are you know for your work and what can you do that others can and also how do you plan to satisfy your customer always

 

[Shavkat]

If the business turned to be profitable, then the expected outcome will lead to financial stability to the owner or owners.

 

[Carson20t]

Well there are many factors but what is key is the fact that a business must be self sustaining.So the business nust have a structure in place that helps it to grow and growth means generating more sells and planning what other ventures the business plans to engage in.This will help to project and execute the very plans and what is needed.Mostly more advertising and marketing then more sales.

 

[Starmix]

There's always be auditing and changes of strategies to have monitoring.

 

[Bisolami]

Well for one business to continue in success and be able to funds all it projects are dependent on the fact of how well are you know for your work and what can you do that others can and also how do you plan to satisfy your customer always

And how you can manage the business. A person may have every good quality of a business owner but if he or she cannot manage the business, things won't go well

 

[eldavis]

Most business owners out there do not actually rely on a single business. I know of a business owner who has other small business he runs like pos services and the likes, and he is also a land agent. The profit he get from these things, he includes it in his company.

 

[Bisolami]

Most business owners out there do not actually rely on a single business. I know of a business owner who has other small business he runs like pos services and the likes, and he is also a land agent. The profit he get from these things, he includes it in his company.

That's great. Relying on a single business is never a good way to run a business anymore. We gotta find other means

 

[eldavis]

That's great. Relying on a single business is never a good way to run a business anymore. We gotta find other means

Exactly anything could happen at anytime, and worse there are cases where business becomes slow, due to one thing or the other. Imagine in a season why customers do not come to you, you would just be stranded.

 

[Bisolami]

Exactly anything could happen at anytime, and worse there are cases where business becomes slow, due to one thing or the other. Imagine in a season why customers do not come to you, you would just be stranded.

That's very try
This is even why people who have single business do not sell just one thing. The sell variety of products so that if one does not sell, one will sell

 

[Suba]

You as a business owner certainly have to separate personal money from business money. Record all business income and expenses. Make a financial statement and analyze whether your funds are sufficient to finance a new project. Make a budget for a new project or for each project that will be carried out.

 

[Bisolami]

You as a business owner certainly have to separate personal money from business money. Record all business income and expenses. Make a financial statement and analyze whether your funds are sufficient to finance a new project. Make a budget for a new project or for each project that will be carried out.

Some people are not very disciplined to separate their personal money from their business money and that is why they always spend their business money and at the end of the day they will go bankrupt

 

[Suba]

If so, he is not gifted to be a businessman, he better be a good consumer.

 

[Bisolami]

If so, he is not gifted to be a businessman, he better be a good consumer.

Hahaha
I have seen someone who kept on spending his business money to the business went bankrupt and they even tried to open another business for him but he did the same thing so there is no point for that kind of person to have a business again

 

[cherry123]

If the business turned to be profitable, then the expected outcome will lead to financial stability to the owner or owners.

Yeah a business can only be sustainable with profit making. so profit should always be made

 

[Bisolami]

Yeah a business can only be sustainable with profit making. so profit should always be made

And if you buy more goods with the prophet that you have made you will make more profit by doing that instead of spending all the money that you make

 

[hastral45]

The company must be ready to run good accounting policy. Its expenditures must be regulated such that it doesn't surpass revenues.

 

[Bisolami]

The company must be ready to run good accounting policy. Its expenditures must be regulated such that it doesn't surpass revenues.

And this is why they need a very good accountant that can account well for all the money that goes out and comes in

 

[cherry123]

And this is why they need a very good accountant that can account well for all the money that goes out and comes in

Sure, for the business to be a counted for properly an accountant needs to be hired for the business