Trendrians! How Long Have Your Current Business Lasted?

[Rachael]

We all know that managing business is not easy because of the frequent fluctuation in prices of booth goods and services. Operating and managing a business demands a lot of sacrifice which includes; determination, perseverance and hard work. There are two types of business owners, the one who would rather die in his business than give up into another line of business and the one who would quit at the emergence of a slight challenge or obstacles. This does not in any way posit that those who quit are faint-hearted. It could be that they have tried all possible measures to salvage the business effect and the best alternative might just be to quit and engage in other ventures.

There are some business owners who are so keen and tend to care about what people would say about them if they eventually quit their businesses due to challenges, they would rather remain there and not progress than quit because of a mere stereotype belief. There are some businesses that were built on a faulty foundation and once the business plan is faulty, there is every tendency that a business would crash sooner or later. I have stayed in my janitorial cleaning business for 5months now and still counting. What about yours?

 

[Kendy]

Presently, I am not operating a business due to some challenges I had faced in the past. Two years ago, I was running a poultry farm of about 100 chickens but with the upsurge of the covid-19 pandemic, my business crashed even before I could reap the first dividends coupled with the fact that I was constantly being owed by my customers. During the time, people were so skeptical on eating livestock because of the fear of flu or the pandemic.


The few people who patronized me either used the current economic recession to make me sell to them on credits because at that point I had no choice and I could not continue feeding them when no one was buying plus food were so scarce and to even see them was triple of the original price. This is one of my bitter experience because they business did not last up to two months. Well, I had learnt some valuable lessons and in case of next time, I know some things I should avoid and I should not take loans to start a business and never to reinvest all my profits at once because the future has a way of being unpredictable.

 

[btaliat]

I don't have any business at hand now but I am very sure that when I have a business, I will make sure that the business last longer and may even bequeathed to my children. There are some things that I have already put in place to make sure that these things work out.

The first thing I believe that will make a business last longer is that the business should be established based on some certain passion. When we have passion for a particular stuff, there is tendency that the business will last longer. Business that's created out of passion always last longer.

I will also make sure that I introduce the business to my children. When a business is introduced to children. There is tendency that it will sustain and live beyond normal life expectancy. There are some times when some business owner decides to employ external hands in all there businesses. This always to the situation where no one will take over the business from the person's children maybe during the old age or when death comes.

I have also planned to make sure that I incorporate new technological gadgets to what I am trying to do. When our business is in vogue, then there is tendency that it will last us longer than we expect. So we need to make sure that we make use of new technological items.