Managing business looses

[Kerryjoy]

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??

 

[Shavkat]

The best thing is to monitor the business management and operations. In this way, it can prevent the loses in business.

 

[SHAHID987]

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]

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]

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.

 

[Stardom22]

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

Post automatically merged: Aug 2, 2024

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

 

[King Belieal]

That's where insurance would really help. If there are losses that you can't control, the insurance company would help.

 

[freelancermaria]

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]

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.

 

[Fidelia]

Losses can entirely demoralize a business person, especially one that has given best efforts to make the business work.

 

[Starmix]

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.

 

[Stardom22]

I can say that losses is the most bad thing for the entrepreneurs to experience on the businesses.

 

[Starmix]

I am new to my online and offline businesses, so I have to be cautious to avoid business failure. It's crucial.

 

[timewo]

Reducing business expenses, and doing everything to increase business revenues is the only way to manage business losses.

 

[Kosi G]

To manage the business losses, there would be a need to brainstorm on possibly causes of the losses as adjust accordingly.