Mismanagement- The sureshot to ruin your business
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To Whomsoever it may concern
As a student of business management, I know that excessive experimentation will ruin your online business. Your business is directly related to management and practical matters. You know how mismanagement can ruin your business, but you're ignoring it. Why do you think that by addressing a very low class of users you can grow your business? I know a few will benefit but the ones which really matter, will stay away.
Business success doesn't depend on baseless ideas, investment, or technology, but also on proper management. If a business doesn't operate in a planned manner, there's no cohesion in the team, and there's no balance between expenses and profits, and then business gradually begins to collapse. That's what is happening.
Spending on wrong heads is called mismanagement, meaning the improper or haphazard use of resources, time, people, and decisions. One wrong decision, an unplanned experiment, or an uncontrolled strategy can ruin the entire business.
Don't you think wrong decisions and lack of direction are the biggest risks in any business and they come from wrong decisions? If managers make decisions without proper data or user analysis, the consequences can be dire.
For example, if an online business launches new projects without understanding user demand, it will not only lead to decreased participation but also damage generation of new assets.
Hastiness, arrogance, or an "I know best" mindset in decision-making are signs of mismanagement.
Experiments are fine but excessive experimentation leads to Instability in any business. Every change must be thoughtful. Entrepreneurs often try new ideas and it's okay to take the risk of changing topics on your website, changing your strategy. But do you ask experts before adopting new technology without testing. If you don't, this destabilizes the website's direction.
Your users become confused, and your good users lose trust, and ultimately, the entire system falters. Excessive experimentation is the same mistake that causes more harm than thinking too quickly. Consistency with creativity is essential for growing any business. You must act consistently and follow a limited but meaningful strategy.
Now you can see that Steam's financial chaos and cash flow problems are the most dangerous manifestations of this experiment, leading to financial imbalances. If a business doesn't control its ideas, or properly distribute profits, or puts management in the wrong hands, the result is what it is. Users earn, users power down and come back to repeat the cycle and the most funny part is they remain in the priority list. Good for them but disappointing for others.
Mismanagement also includes unnecessary investments and the constant selection of people. Successful entrepreneurs know that every penny is a responsibility, and every expense must be justified. When this perspective is lost, waste is certain. And I believe this is what is happening.
Lack of team management and communication: Teams are the foundation of any organization. If managers don't understand, motivate, or communicate with their colleagues, dissatisfaction spreads. Lack of communication increases misunderstandings and reduces productivity. I believe that if you don't listen to anyone, you lose your credibility. Gradually, talented people leave the website, and the organization's vitality is sapped.
Today Crypto businesses is growing rapidly, but the challenges are even greater. If a website ignores users and constantly engages in unnecessary experiments without a clear strategy, you are sure to lose unique users. User loyalty can change on digital platforms, so transparency, accountability, and consistency are crucial. Be sure to monitor who is regularly contributing new ideas to your website and who is simply running away with the money.
Mismanagement can turn any successful idea into a failure. It gradually erodes trust, coordination, and control within the company. Without a good strategy, responsible leadership, and planned execution, a business cannot survive. In the business world, it is said, "Slow steps in the right direction are better; fast steps in the wrong direction get you nowhere."
Therefore, as a business student, I understand that every decision should be made responsibly, not just in the excitement of experimentation. Only then will your business survive and grow in the long run.
I invite @pennsif, @josevas217, @adeljose, @weisser-rabe, @sduttaskitchen , @jyoti-thelight, @waqarahmadshah and @disconnect
Hello again! Let me respond to your appeal today...
You are way ahead of me in terms of business management. Not because I am less educated or ignorant, but because my priorities are different. I did not start my own business to maximise profits and achieve optimal growth. My goal was the freedom to work for people I like, whose values I share. This also includes a certain contempt for the pursuit of wealth. My customers live quite contented and, in many eyes, perhaps modest lives – like me. And that's great! These are the important parameters of my business. That and the good and secure livelihoods of my employees. Constant growth and business optimisation would have ruined my concept.
Now, I don't see Steem as a company, and I don't see my presence here as work. Steem is a decentralised platform that is available to people and is used in many different ways. In many cases, it is used well and sensibly, in others... well, we all know. Steemit Inc. is the operator of this platform. It is a company. It operates according to business principles. It is not my place to judge this, because it has nothing to do with what happens on the platform. What is done here is up to the users. Up to each individual, up to the Communities in which they organise themselves. They, in turn, must not make the mistake of seeing themselves as a company and acting according to business principles. The Communities should be exclusively about the social component; about attentive assistance, support and encouragement.
I am not entirely alone in my view, but we are in the minority, I realise that. Unfortunately. I am very sorry about what has become of what was actually a great idea for a decentralised online platform. A carbon copy of Facebook, where freedom of expression and general goodwill now depend solely on whether you resteem the right posts, belong to the right club, burn the right amount of Steem and post sufficiently long comments on predominantly stupid and interchangeable posts.
You are right to regret the absence and departure of good bloggers. I'll tell you something: we can't attract them and we can't keep them. Because Steem has become exactly what we see every day. I'll tell you something else: a revolution is not enough to reverse this. We need a fresh start – where each of us starts from exactly Zero. Those who go through with this have a genuine interest in the cause of this platform. Then Steem, as an institution and as a cryptocurrency, will have value again.
I agree with all what you said but there is a saying in our local language which if translated will read, "no one can do it alone especially when he is nobody in the system."
I agree with you that we come from different schools but don't you think I never said it keeping money as a point behind all this? My question is why rules always favor the ones who take full advantage of the system?
You know my age and other facts well, so I am sure you know what I mean. As far as money is concerned it comes to everyone who works sincerely here no matter they use it or leave it in the system.
You’re absolutely right: mismanagement doesn’t always come from bad intentions. Sometimes it’s born out of confusion, ego, and constant “experimentation” without a clear soul behind it. That is exactly what has been happening here.
Once upon a time, Steemit was not just a platform. It was a movement. It was where creativity met community, where ordinary voices were heard, and where effort truly meant something. But somewhere along the way, that spirit was traded for short-term gain, unchecked changes, and favoritism disguised as “innovation.”
Instead of nurturing loyal contributors, rewards went to the same few power accounts.
Instead of stability, we got constant shifts in direction: new projects, new “visions,” and yet the same old problems.
The result is disillusionment, power-downs, and people leaving quietly. Those who once poured their hearts into this platform now visit it out of habit, not love.
— A longtime Steemian, watching the lights dim but still hoping for dawn.
Cc: @dove11, @weisser-rabe
it's sad, almost poetic
Hi Dev, please let me sleep on it overnight – I'll get back to you with a detailed response tomorrow. Off the top of my head, I can think of both pros and cons. Let's see which side wins out tomorrow ;-))
https://x.com/simaodev11/status/1982612717493211561
Upvoted! Thank you for supporting witness @jswit.
can we look at this "experimentation" from this angle;
Many businessmen that are successful today are people who dared to do what others were scared of doing. As a big businessman, i believe you know that experimentation is the heartbeat of innovation and without that, it will be very difficult to know what works.
i am a living testimony. i have this goat meat business that i usually do before now but as times went on i was contemplating if i should add fish business to it. i was scared of going into it because were i am running the business is in a riverine area, so, there is abundance of saltwater fish there. one day i just chose to give it a trial by introducing fish in the business although mine was fresh water fish... and boom! it sold more than the goat meat. i did not see it coming.
so, imagined, if i had not experimented on that line of business, i would have still been held back believing that nobody will buy fish from me because of the environment i am doing the business.
@steemcurator09, Thanks for everything but you read my words and let me make it clear that what I have written is not about the changes. Not about the business model and not about experimentation. Everything is fine as long it goes in right direction and kept in right hands. As soon as it goes to wrong hands it ruins everything.
It not only happens in businesses but is also true for running the countries. You handover the power to greedy and corrupt ones and see where your country or business lands to. Changes are okay but they should be planned and calculated, as you gave example of goat and fish. Didn't you plan for them before staring them?