Re: Financial Mistakes
by on 14/12/2025, 10:56:47 UTC
Sometimes in view to setup a business because of the availability of funds we tend to hurry into it without fully gaining proper knowledge of some certain thing's and factors. We feel money is the sole driver of a business neglecting basic knowledge that we would need to keep the business running after it is been set up. These little but important things lead to the failure of the busines which I tag a financial mistake. Below are a few financial mistakes business starters make and you can as well add yours for the purpose of knowledge for us to learn and take note of.
1. Inadequate knowledge of the business
2. Poor management skills.
3. Lack of financial control .
4. Impatience.
5. Failure to recognise targets market areas.
Etc
1. Inadequate knowledge of the business
2. Poor management skills.
3. Lack of financial control .
4. Impatience.
5. Failure to recognise targets market areas.
Etc
Even more often, people face the mistake of delaying for too long and taking too much time to make decisions. They hesitate to start their own business even when they have money and a good idea. They find more and more downsides and come up with reasons why they will lose money, why their business will fail, and in the end they do not start anything at all. So it is quite debatable what is better: to sit and study for half a lifetime, or to simply start doing and solve problems as they arise.