What are the possible loss mitigating strategies for online businesses.

[Xtynehappy]

As we all know that, most businesses come with inherent risks, so what are the possible loss migrating measures for online business that deals with a boutique?

 

[Stardom22]

I bet that people should be in the position to choose the online businesses wisely. There are other online businesses that are more risk inherently than others.

 

[Augusta]

Avoid selling on credit or selling your products to get payment on delivery. Some buyers are scammers you need to avoid them

 

[Xtynehappy]

Make sure you make very accurate orders for your clients to avoid the potential risks on delivering to the wrong addresses

 

[eLdavis]

Always ensure you get the orders right so you do not deliver the wrong products to your customers. In situations like this you will have to spend double on collecting the products and resending it back.

 

[kit_hung]

I bet that people should be in the position to choose the online businesses wisely. There are other online businesses that are more risk inherently than others.

Right. choosing online businesses carefully is important because some of them come with higher risks than others. People assume that all hustles are safe but that is not the case. Work on the side before you dive in will help you avoid getting into trouble later. These two things - trust and reputation - are what people really rely on. Risky things often seem attractive but they don't last long. Wise decisions will always ensure that your progress is ‍‌‍‍‌‍‌‍‍‌steady.

 

[Augusta]

Encourage employees to report any suspicious activities or incidents promptly.Conduct regular inventory audits to identify and address discrepancies.