What are the mistakes that people make in Business that gets them bankrupt or at risk?
I'm just curious because I've seen so many good businesses with potential go bankrupt and I never found out why so I want to know the types of mistakes they make that brings them down
Asked By: - 9/30/2010
Best Answer - Chosen by Asker
There are a myriad of reasons and it depends on the business. but too many businesses do not add long term equity items to their businesses portfolio when their times are good such as land, bearer bonds etc. Instead they buy their son a corvette or the wife a fat diamond to show off their success... More
Answered By: rabidkitty - 9/30/2010
Additional Answers (1)
Most business failures are a result of poor planning or lack of start up capital. New businesses will burn through cash their first two years while trying to establish themselves and paying start-up costs. Read "Small Business for Dummies" to get an idea of the things you must consider.
Answered By: falsi fiable - 9/30/2010
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