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4 Problems Capable Of Shutting Down A Business.

Discussion in 'General Business' started by Celestina Angel Serome, Jul 23, 2019.

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  1. Celestina Angel Serome

    Celestina Angel Serome Administrator Staff Member

    Many business has folded up today due to some business problem that most small business owners are being faced with. This problems are only known by few business owners, irrespective of the damage this problems comes with, some business owners out there has absolutely no idea about what this problems are.
    Take a look at our world today, almost every one is running into business without proper identification of problems that can shut their business completely. This is a huge mistake most business owners make, they don't want to know what will cause their business to shut down, all they want to hear is progress, but how exactly will progress come when you keep repeating those problems that can shut your business down all the time. It's as simple as a ABC. A man that doesn't know his problem can never solve that problem.
    Remember the fact about business which quotes business to be a delicate organization that should be handled with great care and wisdom. Don't deceive your self that there is nothing capable of pulling your business down. It is very important for every small business to be able to remove any problem the business faces so that it can stop it from experiencing huge damage.
    Here are 4 problems that can turn your business into an ex business automatically. So, after listing i expect those wise business owners to flee completely from these problems to ensure a proper growth of their business.

    Wrong spending of capital :

    if there is anything that keeps a company/business together is nothing but the capital the business generates. When this capital is spent wrongly or used foolishly, it therefore leads the business into huge debts or causes the business to go bankrupt, and when a business starts owing debts or has gone bankrupt, the chances of that business not collapsing will be very few, because capital is one of the most important requirements needed in order to run a small business effectively.
    Most successful businesses that has this problem has always been known for their downfall and wasted effort because they were unable to avert this killing virus from contaminating their business.

    Ill treatment of customers :

    Any business that has this problem is sure to fail because customers are the people who promotes an owners business by selling, advertising and by buying. When a customers isn't properly attended to, it then create a room for what i call " scarcity of buyers". Scarcity of buyers can simply be explained as a process whereby a business lacks customers to purchase their goods and render their services to. When a business faces scarcity of customers, the business will definitely fall due to the fact that almost all the goods might get spoilt due to how long they have been in your shop, plus there won't be any fund at all to buy new goods. This is simply because of the kind of treatment the customers receive from the employees or owners.

    Haven't you heard about the saying; customers are always right? that atleast should give you the significant of their presences in your business. When a business has customers the growth of the company/business increases, while when a business doesn't have customers the business suffer loss and most times collapse.

    And also the appearance of a customer doesn't matter at all, just because the customer looks tattered doesn't mean he doesn't have a right to buy from you, and it also doesn't warrant you to treat them with contempt. The fact that he/she can afford what you sell makes them worthy of your respect and should be treated with respect.

    Ill treatment of employees :

    As customers are important, so are the employees of a business are important, and they deserve better treatment. There is absolutely no way a car can move without an engine and its tyres. if that car has engine but lacks tyre, there will still be no way it can move, same with the car having tyres without engines, there wont still be any way it's going to move. This boils down to nothing else than, a car needs both the inside and the outside to move from the position it is to somewhere else. That's simply how your business is, the employees are the engines which are the insiders they are the one that takes care and maintain the business while the customers are the tyres, they are the outsiders, they are the ones who promotes the business to the next level.

    There is absolutely no way your business will move when you lack any of them, because as much as you need a customer to buy your goods that's the same way you need an employee to help maintain your business. When a business owner start treating his employees in an ill mannered way, it automatically creates a room for that employee to work with a divided mind. So what do you think will happen to your business when such a thing hits your business? it will literally prompt that employee to put little concern and focus on your business, his attention won't be on your business progress anymore, rather it will be done for doing sake. When you give and show people your good side, most especially those working under you, they tend to return the favour by giving their best to whatsoever you are doing to ensure its proper success. How about when you are not always around and you treat them badly?it then becomes a case of a mouse doing whatsoever he pleases just because the cat's away, so any business owner that doesn't appreciate his employees, will one day wake up to find his business completely destroyed, that's why Anne m. Mulcahy said, employees are a company's greatest asset__ they're your competitive advantages. You want to attract and retain the best, provide them with encouragement, and make them feel that they are an integral part of the company's mission.

    Poor quality of goods :

    Don't get your self confused with what the public wants, let me clear one little mistake you have been making in your business. Listen, the public doesn't want goods of poor quality even if it's at a cheaper rate, rather they want goods with high class quality, but at a cheaper rate. So if you have been making the mistake of getting poor goods just to satisfy the public then you are only going to spoil the reputation of your business in the market zone, because there is no way any customer will put up with your low quality goods.

    This will only drive your customers away and equally give your business a bad name that will stop others from coming to purchase anything from you. Most times, it isn't because the owner of a business is poor that's why he keeps buying cheap product, but it is because they are among those business owners that hasn't understood the needs of the public. Yes the public needs cheap things but definitely not a poor and low quality thing, no one will even find your business and everything about it useful to them, so they will stop coming and equally stop others from coming and that will so much affect your business to an extent it will collapse.

    Dear business owners wake up from that slumber of yours. That business you so want to grow to a huge height will only be tagged with a bad name if you continue making these mistakes about the goods you sell. Your business will definitely collapse because you will start losing customers and when that happens your business is already at the verge of collapse, because customers are the people who promotes our business, they help your employees to advertise your company/business.

    when you lack the above listed in your business, your business will have no option but to dance to the tune of downfall & failure.. It has come to the time where your business needs to stand firm despite the hurdles and waves it comes across, because
    knowing the real problem that are capable of shutting down your business will enable you to make hay while the sun still shines; when the sun goes down and the hay hasn't be made then, prepare to dance to the tune of failure and business shutting down, so be wise and make sure you avoid these problems from entering your business.

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