What is the advantages or disadvantages of Business?

Discussion in 'Growing and Managing a Business' started by kimipatel, Oct 3, 2012.

  1. kimipatel

    kimipatel
    uix_expand uix_collapse
    Member

    Joined:
    Apr 30, 2012
    Messages:
    414
    Likes Received:
    17
    Hi,

    All new People or Any one Of this world Who always want to Business in that whole Life. So many people tried but some people will Success or some are not. So I want to know Advantages or Disadvantage of Business, Why those people fail to improve them Business. n How Those people Success in that Business Why? Any suggestions?

    Thanks.
     
  2. MarkTaylor

    MarkTaylor
    uix_expand uix_collapse
    Member

    Joined:
    Aug 8, 2012
    Messages:
    192
    Likes Received:
    62
    Ultimately, running your own business is about controlling your own destiny. In my experience, there are no shortcuts and we constantly need to be learning and adapting our businesses. Failure is often blamed on external factors but we, as business people, need to take control and responsibility... success will come in due course!
     
    • Like Like x 1
  3. Fergal

    Fergal
    uix_expand uix_collapse
    Premium Member
    Premium Member

    Joined:
    Nov 18, 2007
    Messages:
    10,575
    Likes Received:
    1,165
    I agree with Mark, that the main advantage of having your own business is that you are the one in control of the results you receive. For some people that's a disadvantage, because they have no one else to fall back on or to blame, when you own your own business the buck stops with you. Another disadvantage of having your own business, is that unlike a job you don't have a steady wage / salary coming in every week.
     
  4. jason clifton

    jason clifton
    uix_expand uix_collapse
    New Member

    Joined:
    Oct 3, 2012
    Messages:
    4
    Likes Received:
    1
    The vast majority of people on the internet fail or any business fail because of a lack of planning, research,and strategies,these should never be stopped, i find it helps to set goals,where do you want to be in a years time 5, 10 years time it keeps you motivated, focused and keeps your thinking fresh.

    jason clifton
     
    • Like Like x 1
  5. mauricecowell

    mauricecowell
    uix_expand uix_collapse
    New Member

    Joined:
    Oct 1, 2012
    Messages:
    24
    Likes Received:
    0
    When it comes to owning a business there are advantages and disadvantages in here. The advantages to succeed in business is to have a marketing plan and knows how to deal with other people. The disadvantages would be the competition but you should know the healthy competition you will go through.
     
  6. MarkTaylor

    MarkTaylor
    uix_expand uix_collapse
    Member

    Joined:
    Aug 8, 2012
    Messages:
    192
    Likes Received:
    62
    I agree with Jason - a good business will match what customers really want or need with what we can realistically deliver - beware of shortcuts or get rich quick schemes but build from the bottom and persevere! M.
     
  7. Mark T

    Mark T
    uix_expand uix_collapse
    Active Member

    Joined:
    Dec 28, 2011
    Messages:
    1,201
    Likes Received:
    230
    Some advantages of having a business are:

    1. You get full control and responsibility
    2. You build your own goals for your business
    3. You can venture out on different needs of your consumers / clients through your services as you are able to cope with your ROI and earn the real benefits after.
    4. You don't get stuck with a regular paycheck like regular employees do receive on their pay days.
    5. You are the boss.

    Some disadvantages may be are:

    1. You should know how to control well your business when it comes to external and internal factors, as well as in terms of competition. You should know how to take responsibility - as "knowing what your responsibility" is different from "taking responsibility". Without it, business may fail.

    2. Businesses have too many goals - so knowing what your priority for your business may help you out determine your chances.

    3. Depending on how much you have invested, you may not be able to get your ROI as you expected - depending as well on the trend on your target market.

    4. Your pay only relies on what your business earn. The lower your business may earn, the lower you could get back, sometimes nothing at all due to bills and other payments and possibly, manpower for your business.

    5. You are the boss, so you get all the paperwork. That is, if you don't want to get some people to work under you to do those stuffs for you, and you just get to manage and analyze them all.


    There are my own views.. :) Well, not all but some of my..


    Thanks,
    Mark T.
     
    • Like Like x 1
  8. jackjohan7299

    jackjohan7299
    uix_expand uix_collapse
    Member

    Joined:
    Sep 20, 2012
    Messages:
    98
    Likes Received:
    5
    The main drawback i found in doing a business is risk factor.There is a huge risk in doing your own business if it doesn't grow then you have lost everything.And the benefit is that if it works then you can win anything.
     
  9. Mark T

    Mark T
    uix_expand uix_collapse
    Active Member

    Joined:
    Dec 28, 2011
    Messages:
    1,201
    Likes Received:
    230

    Well, everything you do always have a risk. A business cannot grow without any risk or problems to go through. The lesson is that, know the risk and learn how to overcome it. If you failed, it does not mean you have to stop. It only shows that you have to learn from that mistake to improve what you currently have. When you business did not grew, it means you have wrong decisions made in time - then you can start again and try another one, incorporating all the mistakes you have done on your failed business plans before.
     
    • Like Like x 1
  10. Portal88

    Portal88
    uix_expand uix_collapse
    Member

    Joined:
    Aug 7, 2012
    Messages:
    139
    Likes Received:
    7
    Yes completely agree with your statement. We learn from the mistake. The most important thing we need to keep the spirit in the business. If we dont have any spirit anymore, your business will fall. Every business have the risk, we cant omit the risk, but just minimize the risk. :)
     
  11. jackjohan7299

    jackjohan7299
    uix_expand uix_collapse
    Member

    Joined:
    Sep 20, 2012
    Messages:
    98
    Likes Received:
    5
    I agree with you Mark T risk factors can be reduced but i was just telling the benefit and drawbacks of doing a business.
     
  12. MasyWilliam

    MasyWilliam
    uix_expand uix_collapse
    New Member

    Joined:
    Oct 10, 2012
    Messages:
    5
    Likes Received:
    0
    well said Mark, i agree with you. thats the true definition for advantage of business
     
  13. sigma

    sigma
    uix_expand uix_collapse
    Active Member

    Joined:
    Aug 31, 2009
    Messages:
    1,944
    Likes Received:
    283
    this happen only you have backup fund or/and the mistake not a big mistake. Learn from the mistake and overcome the mistake to avoid re-occur is right but it is not good enough. Business people nowadays is taking about preventive rather than corrective, that's why risk management is important
     
    • Like Like x 1
  14. Jack Simmons

    Jack Simmons
    uix_expand uix_collapse
    New Member

    Joined:
    Sep 19, 2012
    Messages:
    28
    Likes Received:
    2
    Maybe those people lack patience and trust in their business because for a business to succeed the owners of those businesses must have faith in their business...
     
  15. masterbizcoach

    masterbizcoach
    uix_expand uix_collapse
    Member

    Joined:
    Sep 18, 2012
    Messages:
    45
    Likes Received:
    2
    There are many factors you need to consider when starting a business. Paper works for your permit, right people on your business, appropriate pricing, marketing plan, and most importantly the system of your business.
     

Share This Page