Responsibility is must:
The responsibility is the important thing that all the members should have compulsorily in a business environment. Even the management people (higher officials) should also follow those. All the members should be responsible for what they do. If not the management will be liable for all that. If the management give any power to some people in their business then the management should also give the responsibility to him. If not the people will misuse the power that has been given by the management. So there they should be careful. They should give the powers and responsibilities to the well trustable people not the one who is not at all a trustable one. If they did wrong that will become a big issue and the company will a bad mark. You cannot find anything from any person if you want confidence you have to see inside you and make the business higher and higher with so much responsibility. Once you increased your business in a high level the customers will have more expectations. So once you have reached high and draw a line you cannot make your business below that line because you have to take 100% responsibility for your business, your customers and your project that you work. Actually when you are taking such a responsibility then you have to skip all your relaxation and you cannot even able to sleep at a proper time. When you think to cheat a person in the business and if he came to know he will act as a mirror behind you. It will give many dangerous situations to you. So when you are about to take a decision you have to be sure for the obligations you required in all the levels.
If you start your business with cash it’s not at all enough to maintain your business till end. You have to be ready for spending more on your business like revenues, expenses for important thing even unimportant expenses are necessary for running a business. You cannot see a reasonable expenses made while running a business. All this has to be rightly checked in a business. The important thing is you cannot spend your business money for any personal issues. This process will be taken place in many of the business. The business income should not be used for the personal use it will create you business debt. If you get business debt, it will destroy your business. You have the best option to protect your assets and that is forming a LLC or a corporation. These will be beneficial for you in two ways, one if will protect your asset and it will also give you advantages in tax payments. So it may also be preferred to maintain it all the time. These are the two major parts of the business, were it teaches how to manage the money in the business in all the levels. Another major thing of the business is to be responsible for all the works done by you and also by the co workers.