WHY YOUR COMPANY IS NOT MAKING PROFITS.

Most of the directors, managers and the enterprise owners are forced to work for long and tiresome hours to ensure that their businesses are making a profit. Well, this is the goal of each and every company, to do one of the herculean issues. This entails convincing someone to pay you to solve a problem for them. If business is done right, both of you are happy.

When people go out on their first date they assume that it will be a smooth ride on the entire dating journey, but this is not the case. They don’t plan for the ups and downs that they ‘might’ encounter in their love journey. This is a similar situation in some of the businesses.

Most companies only plan their milestones and scaling up their businesses which is not bad, but they don’t take time to indulge themselves in risk management. They think that all their plans will work out as they want them to! This implies that they will beat their competitors, make profit and scale up their businesses. Eight out of ten businesses fail on a yearly basis, their failure can be attributed partially or entirely in the planning of the business.

The planning stage is the foundation of the business and should be cautiously handled to ensure that the timeless existence of the company is not at risk. Things like the location, market research, product planning and development, competition and how to scale up should be dug in depth before the business commences.

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