Earn Money should failure make you quit a business?

[AfriPeeps Official]

Sometimes things don't go the way we planned it to go and as a result of that we may become depressed especially if it has to do with our business.

If you have started a business of which you definitely have great hope for, and eventually you started experiencing some issues and failures in the business, you may feel like quiting at a point in time.

Something certain about all busineses is that they all have their ups and downs, you never can tell which one will come first, sometimes the good time may come first followed by the bad experiences or vice versa, what should you do in times like this?

What will help you overcome the heat is understanding that things don't always go smooth with busineses, so all you need to do is to restrategise and change plans so you will rectify the fault and probably start again if the need arises.

 

[btaliat]

Failure is the best teacher. In fact, failure should teach the business owner better. It is just a way to show that the bhsiness has tried but not enough. We only need to know the reason for the failure and prepare against it when next we want to do the same thing.

 

[Jonaville]

He who embarks on a business venture without expecting some levels of failure at one point or another is just building castles in the air. Failure is what gives lessons and experiences which will come in handy anytime the business owner is about to make an important decision. So failure should not be viewed as a dead end.

 

[Skysaint]

No, failure shouldn't make you quit a business and it's even inevitable that one must encounter losses or failure at some point while running his business. So when we encounter failure, I think that gives us the ample opportunity to retrace our steps, identify our mistakes and learn from them as it's all part of experience and we will be needing it in future while making decisions

 

[Sotherefore]

Failure in our life is always a lesson that we have to learn and move on .this is what will give us a lot of experience to know how to handle a complicated task in the future and I don't see this as an excuse for you to quit your business. You should rather concentrate on how you can improve your business if it is a good business.

 

[Carson20t]

My yesterday lecture on personal development by James clear was "leave room for disappointed".Yes in many situations we project about something and only focus on it to happen the way we have projected. Many are the times we ignore the room for things to take a twisted turn. It is very important to prepare ourselves for such a development. Infact it helps us to learn more and fortify ourselves through failure.

 

[Aokejotor]

I don't think so, one should not put failure in front of an idea

 

[btaliat]

In life I always prepare for the worse even when I am expecting the best. I do know that there are many times that we need to be down as a result of having plans that didn't work out but we should not see it as the end of the road.

 

[Chibson]

It is very important not to just give up on your business quickly because you failed in it and that is the reason why I always advisable to have proper knowledge of any business before venturing into it.if you find out that your business is failing then it is important to you go back to the drawing board and find out where the mistake is from.

 

[Augusta]

Well having a business and making good of it isn't easy but the good thing is that it is doable because people are making the best of their businesses and turning them from small scale to very big ones .Some businesses have been turned to conglomerate. if you approach them they will tell you that it took them a lot of sleepless nights to achieve

So I'm one person that don't discourage people on whatever they have their mind on. I'm no motivational speaker, I'm a realist so I try to give practical solutions as much as I can.

if one is just starting out and it looks as if things are not going the way it should then it is better to thrive hard and see how it goes. But if one has tried and it seems that it is not going as expected. it might Just be time to quit and give it a rest.

 

[Etini]

I always say that any person that has not failed in business has not earned the right to counsel me in business. You must show me your track record of failures to counsel me about business. To answer your question, I have to say that failure defines success and in business, there are many pitfalls that would make you fail. You don't quit, you learn from them and restrategize to overcome them in future. The succesful businessmen of today have failed greatly. It is their persistence and determination that made them to overcome the failures and turn it around to success stories.

As a business person, I have failed greatly. I have lost 343 birds out of 350, crashed entirely. But I dusted mysekf , found out the mistakes I made, learnt from them and today we are operating in a higher capacity. Quitters don't win and winners don't quit.

 

[Ithedicious]

So many things are to be considered here , failure does not really mean that the business was not meant to be a successful business . There are so many reasons why so many people may not be succeeding in the business they have establish, one of the most important reason for business failure is improper planning. Many people are just diving into business without really planning on how the want the business to be.

If after your first attempt and you find out that you were not succeeding in the business and you are able to identify the reason that might have possibly lead to the failure then there's nothing wrong with you making a second attempt just to correct the mistake and have a successful business.

So many people are engaging in different business and some of them has failed multiple times before they are able to achieve the success they have today.

 

[TOZZIBLINKZ]

In as much as a business isn't established or implemented for the purpose of failure is obviously seeing that majority of businesses usually fail as a result of one major factor not putted into proper consideration and examination by either the business manager or the business owner. For example lack of proper business transaction bookkeeping or the lack of observing early business threats can totally end up being the cause for a business failure. Talking about whether failure can cause one to quit a business, well that is the decision of the business owner of the business managers. Majority of business owners and business managers end-up refurbishing the failed business and trying their best to do things right this time, while some of them might just give up at the spot and try establishing some other kind of business suitable to the ability and capability.

If the business owner or managers where to refurbish The failed business it is absolutely necessary for them to put into proper consideration the necessary factors that may have possibly caused the business to fail initially. If the business had poor customer service it is best for them to improve in the quality of their customer service and if the business failed to sell and render the right quality goods and services it is now time for them to be more effective in the Southern and rendering of the goods and services to customers and clients so as to make expected and reasonable profits.

 

[Activator230822]

For me I would say this concerning this; Every business has its own ups and downs. So the best thing that the businesman should do is that they must understand their businesses well so that they can identify the challenges of the business.
Upon realising the downside of the business they can eventually find a lasting solution to it.
For instance if you realize that there is an issue affecting the business, you ought to know that one as the business failure. After having known the failure there after you need to put in place plans and policies that can help you to fix the issue bearing in mind that quitting sometimes can't make the best solution.
The common challenges and business failure nowadays is caused by insufficient business funds for funding the business and inadequate market for the business. The business failure concerning lack of market for the business can be fixed by relocation of the business to another are where the market exists.