Assignment 2

According to some reading and research, businesses usually crash for a lot of reasons, one of them is because they are not in touch with customers through deep dialogue. I believe customers are fundamental for any business success, dialogue is the key, knowing what they are searching for, good services and quality are very important to keep selling your product, also, it is fundamental to be good at it and be unique, because nowadays there are tons of businesses offering the same product or service, but being ahead and making a difference is essential, one example of this situation is evaluate the market and come up with new ideas to make it convenient for clients.

Other reason of what makes a business crash is also lack of planning and research, it is crucial in every aspect of setting up and running a business, methodical and strategic planning, underpinned by extensive research, will enable you to determine, analyze, and monitor the viability and functioning of your business and the market in which it operates.

Another point to be made is running out of money. Whether financial issues are a result of understanding startup or running costs, an inability to obtain financing, low sales, unexpected tax bills, or unpaid customer invoices. The majority of new business owners have little understanding of cash flow, which is not at all surprising. Planning and can help to structure the finances of the company and manage cash flow affectively.


One thought on “Assignment 2

  1. Mariama Diallo

    Hey, Milena I agree with you if the businesses are not in touch with they customers find out what products they want to see more in they factories some people might lose interest in their product just because they not seeing what they like. And yes customers are fundamental for any business because they they one who’s going to help your Business to rise.

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