Reason Why I Think Most Of The Upcoming Business Liquidate Easily

It been so common among the upcoming small scale business which are operating with the aim of having a large number of customers so as to become a large scale and world known business. What I think is the major problem is Sentiment.

Sentiment to business means the relationship,emotion and fellings that exist between you and your clients/customers. For your business to grow faster you have befriend your clients/customers don't let it stop once you deliver your service. As a small scale business that is just getting it own customers from the larger market you have to make sure sentiment exist in the service you render to your customers, let them feel you care about them but that doesn't mean you should become their slave but let them feel that you care about them and Sentiment of thing help you when there's an error in the service rendered or there's a case of unsatisfied,what will make them overlook the mistake or error is sentiment. So my dear upcoming entrepreneurs, sentiment is really important to determine the increase rate and life span of your business.

If there's anything you know that can help the increase rate and life span of the upcoming business please share. Thank you

Comments Reply
  • the main reason a business would choose to liquidate their assets I due to insolvency.insolvency essentially means that a business reaches a point where it is not able to make necessary payments when they due.

    - Dalhatu Halliru - 2019-09-27 16:40:10 Quote

  • People should get rid of some behaviours like greeds, jealously, copying others. For your business to grow, you need to visualise it, take time and study it to know the advantages and disadvantages of it and also absorb strategies when operating the business.

    - Iniobong Akpan - 2019-09-27 16:51:04 Quote

  • During the growth of a small business, a company will go through the stages of the business life cycle and encounter different challenges that require different financing sources. For example, the business will require a different strategy when it comes to market penetration, business development, and retaining market share. As the business matures, operations and priorities will change therefore requiring business financing to also change as well.

    A business will go through the stages of a business lifecycle similar to a tree’s lifecycle. As a seedling that sprouts and matures, the tree will require different amounts of resources through the stages of its lifecycle. Understanding the different stages of the business lifecycle will help you prepare for the obstacles that your business will needs to conquer in order to succeed.

    - Isomkwo Clement - 2019-09-27 17:28:15 Quote

  • Lack of adequate capital. Some start businesses and are going bankrupt because not enough capital was invested at the start of the business. It the capital is not enough they depend on profit and that also might not be enough for an upcoming business. 

    - Mofolu Ayo - 2019-09-27 17:36:28 Quote

  • One trend in Nigeria concerning businesses is the rate at which other peoples businesses are beig  copied. If one person brings up a idea which turns out successful, in a matter of time, there will be 7-10 people who have opened the Same business thus limiyin  the success rate of the original business. Nigerians should pls learn to think out new and innovative business ideas other than waiting for someone else to think while they do the copying

    - Bright Fred - 2019-09-27 21:54:31 Quote

  • Many people jump into business without knowing anything about most people thinks that business is only about buying and selling. Business has a lot to do apart them. Convincing your customers and creating a good relationship between them is one of the main ingredients of a successful business 

    - Daniel Chidera - 2019-09-27 23:51:59 Quote

  • I dont think sentiment is the reason, small business tend to collapse due to lack of formalities. when u befriend your customers too much they become a liability in the sense that, they will see u as a small business and start requesting things on credit. You dont see people going to malls and ask on credit and dont forget the mall never befriend their customers, its all about having the goods that are needed

    - Yusuff Abdurrahman - 2019-09-28 08:22:10 Quote

  • I think why small companies liquidate easily is because of their negligence to the complaints lain by customers. The management at times neglect or fail to take action against this complaints much to the dissatisfaction of their customers.

    - Onekeneke prince - 2019-09-28 08:53:57 Quote

  • There are many reasons why businesses liquidate these days some can be due to, inexperienced management and staff, no thought about what the future holds, strong competition from other people in same business as you, low capital leverage and bad loans

    - George Belema - 2019-09-28 09:39:44 Quote

  • If I want to add, I will suggest that upcoming business man and woman should always read about great people in business and how they made it to they level. Reading matters a lot. But most people don't know it. Reading about what you invest in will give you more insight about it. 

    - Arowona Muhammed - 2019-09-28 15:51:59 Quote

  • Most bussiness liquidate due to lack of proper planning to make the business last for a long period of time and also not having the right staff to carry out the designated plans and duties. From finances to day to day operations adequate plans has to be put in place to ensure consistency and growth.

    - Ndukwe Ikechukwu - 2019-09-28 16:30:51 Quote

  • Business has many stages of development just like a child growing up. From being a new born baby to pre-teen age they get alot of attention and care. So also is business. Everyone likes something different and that is what a new business or startup should offer. We need to use its uniqueness to attract customers and investors.

    As it is growing we should note the changes in the needs of the customer based on societal changes and values. Big coroporations like Nokia and even Microsoft did not key into the changes in the society and they lost oppportunities 

    - Oluwaseyi Oyedokun - 2019-09-28 18:54:25 Quote

  • Most upcoming businesses liquidate for lack of clarity of operations and purpose of services. 

    They also crash as a result of their failure to establish a professional track record or research of their target audience before embarking on the business. 

    Lack of proper representation by the marketing teams, and their little knowledge to defend the company's roles and explorations esp when it matters. 

    Failing to understand that customers are the reason for them coming into business and failure to establish goochstimer relations can also be a cause, as it affects the gains and profitability of the company. 

    - PETER MMADUEKE - 2019-09-28 21:58:24 Quote

  • This is actually true, small scale business owners lack sentiment of various kinds

    Most petty business sellers with the hope to owned a large open business scale environment and yet opens the shop between 8am to 9am daily, how is it supposed to work? 

    Most at times they hardly have change thereby telling you to go away, How is it supposed to work?.

    - Kubiat Udoisong - 2019-09-28 23:53:43 Quote

  • i think lack of planing, and a good study of the business one wants to go into will be great.Is like dating someone you don't know anything about. So have a good knowledge about your business and also apply sentiments  with clients/ customers and everything will  move fine, so i think.

    - Anaekwe Chidinma Perpetua - 2019-09-29 09:03:36 Quote

  • Anyone that is having an upcoming business should know he is there to compete and he should know it requires alot to strive in Other to compete therefore the factor of customer of clients should be handled appropriately to ensure the business survival 

    - Akinwole Blessing - 2019-09-29 09:23:24 Quote

  • 1. The will to continue going when things get hard.

    2. The urge to get successful immediately 

    3. The inconsistency 

    4. Lack of branding and right packaging

    5. Poor marketing skills 

    6. Inability to form the right network 

    7. The "I can do it on my own" mindset.

    Theses and a lot more are the reasons small businesses remain small.

    - Jamiu Babalola - 2019-09-29 14:09:32 Quote

  • In industry business like bank business they don't allow member to get married to each other and at the same time working in the same bank because of family matter, favoritism... ETC can lead to backward on how effective they work which can make them loss customers 

    - Sylvester Okoye - 2019-09-29 16:20:31 Quote

  • Sentiment is not all there is to business, especially small scale businesses 

    If you'll do anything do that shii right 

    Give the best quality and the most quantity 

    Be consistent and at the long run you'll start reaping your fruit

    - Osho mimolewa - 2019-09-29 16:49:24 Quote

  • I can see where you are coming from and I agree completely,an entrepreneur should be able to separate his business from family and other relationship sentiment in other for that business to grow.

    - Mohammed Ibrahim - 2019-09-29 18:17:35 Quote

  • Most upcoming businesses liquidate for lack of clarity of operations and purpose of services. 

    They also crash as a result of their failure to establish a professional track record or research of their target audience before embarking on the business. 

    Lack of proper representation by the marketing teams, and their little knowledge to defend the company's roles and explorations esp when it matters. 

    - Niniola Abdulazeez Omololu - 2019-09-29 19:38:30 Quote

  • Another thing I think upcoming business's should look into while coming up is patience and quality, most of this businesses no longer want to patient to get to the top they just want to fly from bottom to the top just like that! Things are not done like that, have some quality and with time hardwork will pay, Take a look at Jacob in the Bible and you will see what it means to have patience and quality ! Thank you and God bless NNU forum

    - Usiagbada Samuel - 2019-09-29 22:40:04 Quote

  • I really don't understand sentiment in the sense you're bringing. Speaking of friendship, small business are usually run down by friends and family because everyone wants to eat from there instead of waiting for the business to grow and assisting in the growth of the business.

    For example I'm into shoe making, friends and family all want free shoes, how do I grow from there. 

    Speaking of befriending too. For some clients just do a good job and leave it to testify for you wherever. Do your job and leave befriending.

    Imagine if I was befriending all my male customers, they'd also find a way to get free products and services

    - Jones Isaac - 2019-09-30 05:17:01 Quote

  • At the stage of small scale, people shud avoid greediness, or copying others with their prices. At first, prices can chase a customer, but keeping them by doing a little discount can keep your customers. 

    And always ask to know their feedbacks on the stuffs they bought from you. Feedbacks from the customers gives them the impression you care for them

    - Adelokun Temidayo - 2019-09-30 10:02:49 Quote

  • For me starting up a business need proper knowledge by the owner and also good feasibility study of the business location, as per sentiment in your opinion its two ways situation cos it comes with its advantage and also disadvantages 

    - COURAGE AGBONS - 2019-09-30 18:31:02 Quote

  • Sometimes sentiment is the main reason most business liquidate, for instance a rich member of your family or a rich friend of your request a product on loan instead of you to kindly reject the request, you give them just because you believe they are wealthy meanwhile that person might be living a fake life and refuse to pay his/her debit 

    - Sheriff Usman - 2019-09-30 23:18:30 Quote

  • Whether your business is growing month after month or continuing to generate a stable amount of profit,poor habit and cash management can often cause it to go from stable and successful to insolvent in very little time.                                       Businesses become insolvent for a wide range of  reasons.some businesses face a cash flow crisis caused by customer non payment while others simply fail due to changes in market conditions or  increased competition from other businesses.

    - Akinrinade Sheriff - 2019-10-01 14:01:44 Quote

  • most people just rush into business without having intensive knowledge about the particular business....  Which could lead to the business being collapsed before it even started....  People should sort for knowledge about the bussiness they intend to invest their hard earned money on...  So as to reduce the risk of it Being a failure before it get started 

    - Ridwan Adekunbi - 2019-10-01 18:19:29 Quote

  • In every bussiness there are risk and a small business dont be afraid to take some certain risk dont try to play safe and shy away from things that will boost your business

    - Naomi Oghenede - 2019-10-01 19:23:10 Quote

  • Businesses that liquidate should never have started in the first place or maybe it is just that the managers or owners of the business have little knowledge about how to grow their businesses.

    Upcoming businesses these days and in this dispensation make use of Digital marketing to build their brands and grow their business sales and revenue, avoiding liquidation from happening. 

    Digital Marketing has been known to keep upcoming business alive and allows the use of digital channels to communicate effectively with prospects. This will help increase customer base and prevent liquidation in the future to come. 

    - Daniel Nwafor - 2019-10-02 18:33:51 Quote

  • I love business post. Also, as an entrepreneur, you need be social, meet people, talk to people about your business. Advertise your business, on social media, on air so people get to know about it. It will really help boost the business

    - Ealefoh Adesuwa - 2019-10-02 21:55:03 Quote

Others are reading