Three top ways to survive a business failure

[Augusta]

Starting a business is one thing but succeeding at it is another. The hardest part is always about succeeding at it. When the business you start fails, you need to see it as a set back and not the end. You can still succeed if you believe in yourself. These three ways can help you make it out

Start a new business

You might have failed in your first business, but start all over again maybe with a different business idea

Apply learned lesson

Experience is the best teacher; you need to apply all that you learned in your previous business to this new one to succeed

Have a positive mindset

Remember you become what you believe, continue to think highly and positively of your new business. tell yourself you can drive the business to success

What your own thoughts?

 

[Mika]

Let us be realistic, when a business fails, it is not just your business fails, it is the failure of your dream. Once your dream fails, you may not be able to start another business for a long time. Even if you manage to overcome th stress, you may still not be able to start another business because failing of a business means a great financial loss.

 

[AmaliaTG]

Starting a business is one thing but succeeding at it is another. The hardest part is always about succeeding at it. When the business you start fails, you need to see it as a set back and not the end. You can still succeed if you believe in yourself. These three ways can help you make it out

Start a new business

You might have failed in your first business, but start all over again maybe with a different business idea

Apply learned lesson

Experience is the best teacher; you need to apply all that you learned in your previous business to this new one to succeed

Have a positive mindset

Remember you become what you believe, continue to think highly and positively of your new business. tell yourself you can drive the business to success

What your own thoughts?

You are absolutely right on all those ways you can do to rise back a failed business. Also someone has to be more creative the second time not just with ideas but with his strategies, designing his business in a new way. Equipment improvements which will require a lot of capital but then again one needs to understand his personality traits are suitable for him to be an entrepreneur. If not they should consider to employ quality qualified employee who will bring improvement and growth in the business.

 

[Sherman198]

To survive in a business you need avoid unreasonable loans.... excessive loans could ruin a business because if you borrow a loan and you are not able to pay back the amount on the right time, this may wreck someone's business while trying to pay back. That's why I don't advice people to borrow money to start a business

 

[Alexandoy]

Starting a new business after a failure is not a good idea for me. When I experienced a failed business what I wanted was to be alone for some time to think things over. No business, even talks of business was taboo to me. I wanted to go to other fields so I enrolled in a writing workshop for the recovery of my bearings.

 

[Setho]

I think you should look for a way that you are going to clear your head and know that sometimes it is not about you that a business is feeling. You shouldn't be able to identify why the business field or is feeling so that you will not make the same mistake in the future. Then you should not be so scared of starting another business but this time approach it with a better strategy.

 

[Wiserr]

I always say this, everything depends on you how you control your business will determine how you'll succeed, I have seen different individuals that ends up losing it simply because they don't plan anything, my main point of view here is plan, there's a saying that says if you fail to plan you have plan to fail, most things that contributes to failure if most business is failure, don't let failure let you down.

 

[sincerem]

Its never secrete that business experience downtime, everything doesn't move all the time smoothly in our respective businesses. That's why we need to be we'll prepared when it comes to business operations to avoid issues of failing prematurely. And again, when our business is facing uphill struggles, we shouldn't just relax and think the issue is from enemies, we should simply device an idea in order to put back our business in order. Everything isn't about enemies, the business we're operating can collapse unexpectedly, due to the world we are living, where unbeknownst occurs.

Nothing moves smoothly till end of time, if we hear the stories of most successful business men and women today, which they experienced in the past, we wouldn't lament much, we'll simply learn from them, stay strong, act smart in order to protect our business when it is sinking from us. That's where creativity comes in, we must be creative in order to be called successful entrepreneurs. That creativity will always stand in to make our business stand due to how we're channeling our business using different strategies to Dave it during rainy days.

 

[Caramelle]

When a business fails, I will likely take time to digest everything and not rush into a new business as a rebound. Let's face it, you just lost a business, and that also crushed your vision for that business and for yourself. It goes beyond losing money. It'll take some time to grieve and get over it. While in this process, it would be better to reflect on what has gone wrong and try to learn lessons from the mistakes. I have gone through this stage when I had to give up my public transport business due to losses brought about by the pandemic and the need to invest more for the vehicle's upkeep and registration. I'm a very sentimental person and it really hurts to just give it up but sometimes, we had to make hard choices.​

 

[Chibson]

Sometimes, when you have a business setback and you want to go into another business there are some major things you must put in place you know that to succeed in that particular business. It is very much important that you don't allow your past business failure to becloud your reasoning and mindset. Before then, your past business might have given you a lot of knowledge and experience. It is very important you understand I know the reason why your past business was not able to succeed and from there you can start a new business and become successful in it. It is very much important you are financially ok if you really want to succeed in a business because there are a lot of things you will be doing with finance. Being positive is also very much important because positivity attracts productivity. It is very much important you have a positive mindset about your new business and try as much as possible to eliminate anything that could lead to business failure. It is also very much important that you employ people that are hard-working and focused because they will be determinant whether your new business will be successful or not.

 

[TOZZIBLINKZ]

There is absolutely no business owner , employer , manager , entrepreneur etc. Who established a business only to go bankrupt or liquidate in the future. But rather the m as always been to satisfy consumers thereby making more and more profits. No matter how hard we try to sugarcoat the situation most businesses today still fail and most of these failures are caused by internal or external consequences as a result of action embacked by members and workers of the business environment.

One important reason why most business fail today is as a result of poor research and experience . The joy of establishing your own business idea is heart trilling , yet not all business ideas are actually good business ideas no one that most businesses whose intention of vision is to make profit fail , liquidate or go bankrupt in some couple of days , years , weeks and decade etc . that is why it is advisable that before implementing business ideas it must be well thoughtful and interacted with advance or experienced business owners.

Another reason why most business fail is lack of capital to keep the business in proper condition . Most business owners develop the habit of irrelevant and excessive spending thereby forgetting the act of inventory control practice in the business environment . Thereby causing goods or commodities to finish before time as expected.