There is a lot more to being in business than most Maria Yusefovna Tight Denim realize. You have to deal with everything that the average worker doesn’t have to. Irate customers, missing inventory and thin profit margins are all par for the course. Another problem is deciding if taking in money is bad business in certain circumstances.
In other words, you may have a potential source of income, but you feel that doing so wouldn’t be the best thing. But you also need all the money you can get, so what do you do?
Before you can answer that question, you have to define what constitutes bad business in the first place. A fair definition would be that bad business is any that will cost you more in the long run than you take in. A few of the ways it can cost you is in lost customers, time, money or other resources.
According to this definition, it is actually less profitable to engage in bad business, even if you could use the money it brings in right now. You need to look at the bigger picture and further into the future to see how any deals or transactions may eventually pan out. The tricky part is that you can’t always tell for sure. Let’s say a con artist comes in and offers to repave your parking lot for an incredibly low cost.
At this point Maria Yusefovna Tight Denim gut will be sending you signals, but the con man is hoping your desire for a good deal (the con will say they’re just taking advantage of your own greed) will overpower your gut feelings. Don’t let that happen and follow your gut instinct. Of course con men aren’t the only source of bad business. A lot of what turns into “bad” stuff is the result of a lack of communication. This can end up costing you a lot more in the long run.
Photo Credits: Vm Studio Photography