Post
Topic
Board Economics
Re: Planning on starting any business?
by
katanic97
on 04/09/2025, 21:52:33 UTC

But on account of proper management structure on ground with even the small size of capital, it can be sustaining to such business's success in the long ... Experience should be considered as a key asset in business planning and as a key factor it's important to always involve those with experience in the area of business when planning. Never neglect this!

Amidst proper management what hinders businesses is debt more especially when family and friends are involved, they'll want you to give them at a discounted price or even in debt and then your business suffers for it in the long run. So when planning any business one should avoid and not allow their family and friends to have such opportunity that's one thing that kills a business after much investment in everything.

You’re absolutely right, i know a friend who owns a company and hired his brother to work there. His experience is basically zero, and he’s actually a beginner in that job. And yet my friend pays him more than all the other employees and even gives him bonuses. Because of that, he’s already running at a loss the way he’s doing things.