Augusta
VIP Contributor
We all know that business involves risk taking but sometimes it's always good to weigh some business risks before taking them to avoid a disaster. One thing about business disasters is that it might just be the end of the business.
So business owners need to guard their businesses jealously to avoid getting into trouble in a bid to take a risk that might not have been necessary.
So what are the unnecessary risks
Taking up a business contract without an initial advance payment.supposing you don't get paid at the end of day. Law suit also need good money if you would be going this route.
Selling highly on credit to customers that you doubt their integrity. This is an unnecessary risk.
Not Hiring experts to do periodic assessment of the business book. How do you intend to quickly unearth theft.
Employing people based on sentiments especially if they are family and friends. You are taking a high risk employing people not fit for the job.
Add yours
So business owners need to guard their businesses jealously to avoid getting into trouble in a bid to take a risk that might not have been necessary.
So what are the unnecessary risks
Taking up a business contract without an initial advance payment.supposing you don't get paid at the end of day. Law suit also need good money if you would be going this route.
Selling highly on credit to customers that you doubt their integrity. This is an unnecessary risk.
Not Hiring experts to do periodic assessment of the business book. How do you intend to quickly unearth theft.
Employing people based on sentiments especially if they are family and friends. You are taking a high risk employing people not fit for the job.
Add yours