Practical ways to fix a business that is about collapsing

[cherry123]

What are the real ways that business owners can fix a business to avoid it from collapsing finally. it is on the verge and needs to be salvaged

 

[Shavkat]

I think their businesses should be insured before they declare bankruptcy. If they do not have like this, it is not a good thing in the end.

 

[Carson20t]

The only way to fix a business is to ensure there is more investment in the quality of a product but if you are sure that the product is of quality then you should look at the marketing and sakes section and ensure it is given the much attention to ensure the business start to generate more sales again.

 

[cherry123]

I think their businesses should be insured before they declare bankruptcy. If they do not have like this, it is not a good thing in the end.

Maybe this might help, it is good to insure the business if that will help the business not to collapse

 

[Stardom22]

I think one can revive the collapsing business by boosting it with funds from external sources of the capital. They can use funds from their own savings or relatives provided it's not borrowed or loans.

 

[Sanjeev]

One needs to try to get a loan or a sponsor. One should analyse where things are getting wrong and find a consultant to take some course of action to revive the business. It's not easy but not impossible.

 

[Mikky]

When planning a business there should be a revenue to fall back on just in case the business didn't work out as expected. A business that is on it's way to collapse without a backup fund will have to get a load to support itself or invite more partners with similar ideas to the business.

 

[cherry123]

When planning a business there should be a revenue to fall back on just in case the business didn't work out as expected. A business that is on it's way to collapse without a backup fund will have to get a load to support itself or invite more partners with similar ideas to the business.

Your last line is apt, bringing in investors might just help the business to resurrect again.

 

[Mikky]

It have helped a lot dying business, some business owners can't survive on their own, its either they lack the capital to run the business on a long term or rather they lack the skills to run the business effectively.

 

[cherry123]

It have helped a lot dying business, some business owners can't survive on their own, its either they lack the capital to run the business on a long term or rather they lack the skills to run the business effectively.

Yes it will help to resurrect a dying business but one still have to be careful with investors to avoid long stories when it comes to profit sharing

 

[Mikky]

Yes it will help to resurrect a dying business but one still have to be careful with investors to avoid long stories when it comes to profit sharing.

That should not be a problem if there have been agreement between the shareholders about how to share the profit then if a partner feels his cut is not fair enough he can either voice out for a readjustment of the sharing or better still withdraw himself.

 

[cherry123]

Yesh the partner has the right to the agreed profit. You need to allow the partner share in whatever percent of the profit you both agreed on

 

[Bisolami]

What are the real ways that business owners can fix a business to avoid it from collapsing finally. it is on the verge and needs to be salvaged

I think the best way to bring back a business that is about to collapse is by re-strategizing. It will help

 

[cherry123]

I think the best way to bring back a business that is about to collapse is by re-strategizing. It will help

Definitely, it will help just try to restrategize and see if it will work if not then you just let it be

 

[Starmix]

That is why business operators are required to put up a bond. They must have a surety bond to protect their business from its downfall, The downside of that business getting to the verge of bankruptcy will be manifested in how it was managed and d, how the services materialized. There might be loopholes that lead a business to closure.

 

[cherry123]

I agree with you some businesses go down because of the way it was being managed. people might need to study the act of management to manage a business well

 

[Starmix]

You're absolutely right, if the business is poorly managed, rest assured, it won't last meaningfully. It may end in a tragic way if there is an order of closure unless temporary closure if not it will be a mess of the big capital and refutation of the management. The management needs to hire a business consultant.

 

[cherry123]

This is what business owners should know they need to get good experts to help them manage their business it is for their own good

 

[Starmix]

Yes, they have to if they want their business to prosper if not, they better sell it to the next interested buyers to protect the business from its downfall. Even banks do sell or find other banks to assume or merged the downfall bank. It must be saved for there are depositors.

 

[Suba]

You as the owner will fix your business that will collapse, the first thing you have to do is don't panic. You need to evaluate and analyze why your business is collapsing, is product quality low so sales are declining, expenses are high, employee fraud, etc. Use your skills to find additional capital, for example joining a public accountant, contact a partner to become an investor.