Closing a business that has been fetching your money and paying your bills can be very painful. That is the reason why it is important for people to have enough knowledge I've been kind of business than venturing into.
Have You Ever Felt Sad About Closing A Business You Do Not Want To?
- Thread starter Good-Person
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This is that really why it is very important before you start up a new business you must research very well into the business to understand exactly what you're going into before you make a very big mistake.
As long as the business is no longer profitable there is no point in trying to push the business further because the only thing that you will be making from the business is constant loss.
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I've never felt sad about closing a particular business because i haven't owned any business but i've felt sad about not being able to start a particular business i had in mind.
I didn't want to stop my transport business but I didn't have much choice. I was already attached to the vehicle and I've gotten used to its operating cycle. It was difficult to finally give up on it but the pandemic and its effect on the business was the final straw. The vehicle is now up for sale but there are no takers yet. I still have to renew its registration and that would be my last expense for the vehicle.
When you don't actually planned well before starting any kind of business that you want to start it is always not going to end well for a business which makes it a viable decision to end the business.
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Once you are actually plan yourself very well before starting any business it is going to be very hard for you to get to the situation whereby you will be forced to shut down the business and close it up.
Closing down a business you started well and its fetching you money at first is not easy and it doesn't actually mean that you didn't planned well before starting your business, sometimes you meet some certain unfortunate event that destabilized the business.
If you've put all the time, effort and money it take to start a business and it folds you're in the pits. BUT, you've also been through one of the most stimulating and educational experiences you can possibly have. You can't buy this knowledge in any other way. They don't teach you this in college no matter how much you pay for a degree.
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One business I felt bad when it decided to close down was a friend's business who was into pharmacy but then the lock down reduced cash flow to the extent it had to close. It's why I am planning to build a business that won't be affected by government policy because I don't want my business to close.
It is actually why it is very good for you to have a back-up plan for your business because it is the only thing that can be able to save your business when it faces such unforeseen circumstance.
As long as I'm concerned there is no need in holding onto a business that is not to be profitable for you to still put your effort into it which is why starting a new business is more likely the good decision.
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I agree with you because I have not experience a loss of business so I don't know how to feed up with a business that I've not engaged.
It is very important for you to find out in such situation the reason why you started experiencing a lot of losses from the business so that you can be able to fix it.
I beleive when you have tried your possible best in reviving a business and you couldn't fix the problem ,mthe best thing is to let the business go and start thinking about the future.
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It is always frustrating when it gets to the point where you can not really finance the business anymore because it is not paying you any profits based on the money you invested into it so you have to shut it down.
It is very painful when you get to shut down the business that you started with a decent amount of money which ended up not going very well for you and if the person is not really that strong he can't really get into any other business.
Yes then that I was operating a chicken farm and the chicken were dying before maturity. Omo I did not have any other option than to close it down and that is the best decision I make, even when I was very much interested to do the business. It wasn't really my interest to close it down though but because they were dying.
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Never had such experience before. I only have one business. And this is the business I have established personally and I don't see any reason I will be quitting the business over time soon.
Though i have never been in any situation where I have to close down my business because of some circumstances but closing down a business you have worked all your life on is very bad.
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