Post
Topic
Board Economics
Re: It ain't meant to be easy
by
arimamib
on 26/11/2023, 18:20:46 UTC
This doesn't only apply to the forum but to every aspect of life.
Take a business for example.
The goal of a business is to make a profit but you can't make a profit if certain things are not done right. If you just pursue profit without thinking about other factors, your business will fail.
Yes profit is the motive of every business man or woman. But when you focus only on profit without outlining the risk assessment or analysis that would help you, you'll definitely fall. Like (1) lack of business orientation (2) lack of feasibility study (3) mismanagement of funds and taking everything common, Can lead to business collapse.
Profit is undoubtedly a driving force for businesses, but it should never be the sole focus. Entrepreneurs should be careful consideration of potential risks and a thorough understanding of the business landscape, the pursuit of profit can lead to disastrous consequences. Entrepreneurs should be able to increase their chances of achieving sustainable success and avoiding the pitfalls that lead to business collapse.

A basic understanding of business principles and practices is an advanced key of success. Without this knowledge, entrepreneurs may make uninformed decisions that jeopardize their venture. They may fail to identify market opportunities, mismanage finances, or overlook critical legal and regulatory requirements.