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  A Healthy and Wealthy Enterprise:
 

If you are not able to make profits and pay the installments of principal and interest to the financiers, you are in for trouble.:

 

The reasons could be many, for instance:

  • high production costs
  • high levels of stock
  • lack of marketing techniques
  • poor product quality
  • competition
  • wasteful expenditure in the production process
  • change in the policies of the government

Sickness in an industry causes frustration in the entrepreneur and dampens your spirits – but, one should not be upset over temporary setbacks and losses.

Entrepreneurs should not be shy of informing their banks and financial institutions which have lent them money about the setback.

You should also be prepared to change your product line, adopt modern cost control techniques, diversify his production, maintain his plant and machinery in good condition, and be prepared to cut down his staff and personnel if production volume does not justify the number of workers.

You should share the profit with workers and persuade the workers to co-operate with you in hours of difficulty and crisis

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