Building a solid business foundation in order to walk steadily is a tough job. Especially in the first year of the business stand is very risky because there are many obstacles that must be solved carefully. Issues related to operations, equipment, employees, or marketing are part of the problem to be solved at the beginning of the business. When a business steps in the second year but still not running smoothly, it can threaten the business continuity or in other words the potential of bankruptcy.
Tips for preventing your business from going down
In order to avoid these conditions, the following simple tips to prevent business going bankrupt:
1.Manage business planning
A well-planned plan will be a hand in running a business. With careful planning, it will minimize the risks and can prepare for action when the situation is not desired.
2. Determining the right business and in accordance with the interests
Running a business that suits your field of interest will keep your spirit in doing it without feeling overwhelmed. Starting a business where you have no passion or expertise in the field should be avoided. Because if there is a problem, then you will be difficult to solve it because it does not master the field. Intel will threaten your business continuity. Start doing business according to the field you are in.
3.Getting started with a small-risk business
Any business, of any kind, must be at risk. For the beginner, entrepreneurs should be careful in choosing a business that is run. We recommend choosing a business that low risk to avoid the big losses.
4. Hard and hard work
After finding the kind of business that fits the interest with a small risk, the next is to execute the business with sincerity, hard work, and tenacious in order for the business to grow.
5. Not Wasteful
Growing a careful, thrifty, and independent attitude is a must-learn attitude and continues to nurture within you. If you can still manage your own business, then no need to rush to find employees. Refraining from things that will weaken financial conditions, such as buying goods just because of prestige. One of the most important factors in managing the new business is good business management, especially finance.