What do you do when you realise the business you started doesn't work for you?

[Stardom22]

It's a bit frustrating when you made what was required for you including researching, making due diligence about the business you intended to start, good marketing strategies but after starting the business there you are the Idea seems not working at all. What do you do

 

[Asfa]

I will search for new marketing strategies may be I will do a gum shoe research for the same business of others for give it a try

 

[Bisolami]

It's a bit frustrating when you made what was required for you including researching, making due diligence about the business you intended to start, good marketing strategies but after starting the business there you are the Idea seems not working at all. What do you do

The best thing to do if you realize that your business is not working out too well is for you to leave the business because he will just keep on wasting your time

 

[misha]

i will stop the business and try something new

 

[Bisolami]

i will stop the business and try something new

Since there is always room for trying something that is name I will try something new to because I already know that the business is not working for me

 

[freelancermaria]

I will review my business plan which includes my short and long-term goals. I will see what I can do about it. Also, I will try to boost my marketing strategies.

 

[Shavkat]

That's the reason why we need to think not only once but many times before having a business. If it is not working out, then it is better to close the business.

 

[Hate2Wait]

It'll be a tough situation but we need to try to save our business and find ways to revive it

 

[SHAHID987]

Two years before I started general store business but after applying all knowledge and strategies I found it out that it failed so I must accept the failure fact and close it completely before its too late.

 

[Magnus2022]

Am passing through similar scenario now. My business I started since last year is collapsing. Am looking for fund to relocate the business or close it down. Am faced with another challenge on how to sale off office equipments. It is quite unpleasant experience.

 

[Sanjeev]

It's a bit frustrating when you made what was required for you including researching, making due diligence about the business you intended to start, and good marketing strategies but after starting the business there you are the Idea seems not to work at all. What do you do

I will search for a person who may be able to give some tips so that my business may not sink. Also, I will find out someone who may buy my business.

 

[Carson20t]

The key thing is identifying the outcome of the risk analysis,looking at the compenents and pre-requisites that are necessary to ensure the business is still floating should be of primary concern.Can you still afford to source for funding for daily and monthly expences or you are now struggling to do that.Above all you look at the big picture which is as to whether the product will sell eventually on the market.Just conrinue to make yourself relevant on the market even if you will be taken seriously on the long run.If you are not able to determine the potential SCALABILITY and VIABILITY then you will have a hard time to know the future of the company.

 

[Suba]

You need to review and analyze your entire business, starting from planning, whether there are activities that deviate from the plan, you also need to research the quality of the product whether it is worth buying by consumers (low quality), you also need to research whether the price is too expensive compared to competing products, and lastly Have you done maximum marketing and also utilized digital marketing?

 

[Springtime]

I'll try to analyze the cause of the problem and see if there is room for improvement. If I cannot seeing any light to continue, I'll close the business.

 

[Johnson2468]

I will quit the business as fast as possible not to wait my time

 

[eldavis]

Remember no business startup is easy, once you have come to the realization that the business you just started is not working for you and you are completely sure about it, i think the next thing to do would be to try something else.

 

[hastral45]

The facts that a business does not work out as you envisaged does not mean you should abandon the project. Quitters don't win. You have to continue persevere but re-evaluate your system.

 

[iyanpol12]

I had a business before which is good at first. Situation has gone worse, and no way to save it so I stopped instead of drowning in debt. I'm glad I stopped or else it will be a problem during pandemic.

 

[gammarays]

I once had a business that failed. I wasn't getting good patronage and expenses were piling up. I had to close down and strategize again so I won't make the same mistakes.

 

[Niyi Briggs]

You sit down and analyse why it is not working for you. From there, you make a move to rectify and fix it.