Practical ways to fix a business that is about collapsing

[Bisolami]

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

It should work and if does not, the person can change his entire business and begin to do something else with the sand shop

 

[Mikky]

Changing the business entirely is also a good point and that means demolishing the collapsing one completely while building a new one from the scratch but it's easier said than done because starting a business all over is way hard compare to saving a collapsing one at all cost.

 

[Bisolami]

Changing the business entirely is also a good point and that means demolishing the collapsing one completely while building a new one from the scratch but it's easier said than done because starting a business all over is way hard compare to saving a collapsing one at all cost.

You're right. When one changes the business entirely, the new business may boom

 

[Mikky]

If I am to advice a firm I won't bother bringing up the idea of starting a new business in place of the collapsing one , not until it has finally collapsed. New business require a lot compare to an existing one .

the new business may boom

And also the chances of the new business blooming better than the previous one is 50/50

 

[Bisolami]

If I am to advice a firm I won't bother bringing up the idea of starting a new business in place of the collapsing one , not until it has finally collapsed. New business require a lot compare to an existing one .

And also the chances of the new business blooming better than the previous one is 50/50

This is very true. So let's just say that the best way to save a business from collapsing is by restrategizing about how to go about the business

 

[Starmix]

That business needs to retrench people to save the business. They may come back when the business is back to normal.

 

[Bisolami]

That business needs to retrench people to save the business. They may come back when the business is back to normal.

That is true and there are some times that a business may just collapse because of external factors like hike in price of products

 

[Starmix]

That is true and there are some times that a business may just collapse because of external factors like hike in price of products

Possibly, and we are caught unaware. Life is getting crazier this time.

 

[Bisolami]

Possibly, and we are caught unaware. Life is getting crazier this time.

It is really getting crazier and things are getting more expensive than what we can afford

 

[Starmix]

It is really getting crazier and things are getting more expensive than what we can afford

This is a worldwide problem. It's hard to solve by strong leaders. We just survive thru our own initiatives how to defeat hardships and struggles thru hardwork.

 

[Enxx]

The best way to help a business that is about to collapse is to first detect what the problem of the business is and find a solution to it.

 

[Springtime]

Get new investment and make good use of the new funds to hire good people, improve on products and marketing.

 

[nomad]

reduce the running cost by cutting your staff and other operational costs, then start marketing aggressively.

 

[cherry123]

Get new investment and make good use of the new funds to hire good people, improve on products and marketing.

Yeah it isn't about just quitting it's more of looking for good ways to make the business work again.

 

[Magnus2022]

The first step is to reduce expenditure and cost of running the business. The next step is to find the reason why the business is collapsing and fix it.

 

[cherry123]

The first step is to reduce expenditure and cost of running the business. The next step is to find the reason why the business is collapsing and fix it.

Exactly it should start with reduction in expenses and this will help.

 

[hastral45]

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.

That is the only solution to business that is about to collapse. It should have been insured against this so that that incidence won't occur.

 

[Reedex]

Identifying the root cause of the problem would be the best approach because that is where you are going to start from.

 

[eldavis]

It depends on the case at hand. If you want to find out solutions that would work, you need to first find out the problem. Take time out to find out the cause of the problem, that way you can be able to come up with the right strategy.

 

[cherry123]

it is always good to take time out to find out the cause of the problem, so that the real cause can be ascertained then the right solutions adopted as well