Have you ever taken over a failed business?

[Grant]

Have you ever taken over a failed or failing business? I think it would be interested to be given a chance to take over a business that's failing, because if you can revive it, that'd be awesome.

Have you ever succeeded in bring a failed or failing business back to life?

 

[Heatman]

When it comes to the kind of business that I would like to get into, I am usually going to be in favour of starting out a new business from the scratch and go through the whole process of growing the business into becoming successful instead of trying to revive an already failed business.

 

[btaliat]

Though I have not done this before but I don't see anything wrong with it. If the business has not failed totally and I have much knowledge about it, I can take the control.

 

[Grant]

When it comes to the kind of business that I would like to get into, I am usually going to be in favour of starting out a new business from the scratch and go through the whole process of growing the business into becoming successful instead of trying to revive an already failed business.

That's fair. A lot of people would rather start their own companies instead of trying to revive a failed one. Especially since it's going to cost a lot to revive a defunct company.

Though I have not done this before but I don't see anything wrong with it. If the business has not failed totally and I have much knowledge about it, I can take the control.

Oh for sure, there's nothing wrong with it. But it can be a challenge to bring an old business back from failure.

 

[Ja Sa Bong]

I won't take over any failed business if I don't have a solid plan on how to revive the business.

It's going to be more difficult to revive a dead business compared to starting a new business. You will need to rebrand the failed business to have a chance of seeing it resurrect.

 

[Heatman]

That's fair. A lot of people would rather start their own companies instead of trying to revive a failed one. Especially since it's going to cost a lot to revive a defunct company.

Businesses that have failed have already lost their say when it comes to what customers are interested in buying. This is why it is going to be very difficult and going to require a very rigorous process for you to be able to revive the business and getting the people to appreciate patronizing it again.

 

[Nomad]

I have failed multiple businesses, and sometimes I get a feeling that I need to start these businesses as I have managed to build better skills and knowledge to run these businesses. However, I have never tried to take over these failed businesses. I am focusing on the businesses that are alreayd making me money.

 

[Shortie]

If I were to want to get into a new business, taking over a business that had failed would probably not be something I would do. Some people may do this, especially if they know why the business failed in the first place and they had ideas to prevent it from failing again but I feel it would be too much work to take over a failed business as opposed to starting up my own from scratch.

 

[Skysaint]

Why would I do that? Well, I haven't and I would do everything to make sure it doesn't. There are those who suggest that people buy a business establishment from other business owners and that's just not right.

 

[Heatman]

Why would I do that? Well, I haven't and I would do everything to make sure it doesn't. There are those who suggest that people buy a business establishment from other business owners and that's just not right.

Seriously, I don't have any business with a failed business project because I know how difficult it is going to be for me to work on bringing back to life a business that have already failed.

Customers would no longer be interested in patronizing that business and it's the reason why I see it as a wasted effort trying to grow back a business that have failed into becoming relevant.

 

[Good-Person]

Seriously, I don't have any business with a failed business project because I know how difficult it is going to be for me to work on bringing back to life a business that have already failed.

Customers would no longer be interested in patronizing that business and it's the reason why I see it as a wasted effort trying to grow back a business that have failed into becoming relevant.

Well, in case if I face such kind of scenario, then I would re-brand my business entirely. This might be crucial because if customers have lost their trust completely, then I would have to create new policies and restart the business from a new end.

 

[Heatman]

Well, in case if I face such kind of scenario, then I would re-brand my business entirely. This might be crucial because if customers have lost their trust completely, then I would have to create new policies and restart the business from a new end.

From my observation and experience, I can actually tell you that customers are definitely going to be more open towards trying a new product that haven't been in the market and seeing if it is something they are going to like than being open to giving a business product that have failed before but is now rebranded to give something new to them.

 

[Henrywrites]

When it comes to the kind of business that I would like to get into, I am usually going to be in favour of starting out a new business from the scratch and go through the whole process of growing the business into becoming successful instead of trying to revive an already failed business.

I have always preferred starting a new business. I don't have the experience to buy off a failing business and steer it to success. I am still learning the ropes of business and won't like to make investments on businesses that I am not the one that setup their foundation.

 

[Good-Person]

From my observation and experience, I can actually tell you that customers are definitely going to be more open towards trying a new product that haven't been in the market and seeing if it is something they are going to like than being open to giving a business product that have failed before but is now rebranded to give something new to them.

If a business has failed, then re-branding the business may also involve selling products that look completely different. This may also include changing the packaging of the product and changing the way it looks. This means that you would be technically starting a new business.