What do you do when your business closes

[Grant]

When a business closes, new opportunities arise. Of course, sometimes we don't want to end up closing shop, but sometimes there's nothing we can do. But, let this be known, it's not a failure to fail a business. It's part of the learning experience and you are bound to find something new down the line.

Just let it be known, don't worry if you encounter a roadblock like this. Time will prevail and you will get through it.

 

[Sincerem]

That's life, we can't keep on grumbling on our failed business attempt. If we failed on a particular business, based on the lack of adequate plans, and vision for it. We shouldn't give up, we should continue chasing and learning strategies never to fail again.

 

[Josemendez]

I believe that when our business fails , we should first of all be able to fight at the onset to save it ,and when we are not able to do , we will thus look for alternative way to earn.

 

[Nomad]

When my first business shut down, I did not think about another business for two years. Then I got a new idea and finally launched my second business. My second business failed two years ago and I am not thinking about another business any time soon

 

[Mandypaul]

Well,when my business closes i didn't give up,i go to and fro so as to get enough capital to start up a new business,i borrowed some money so as to continue with my business,i later found out what makes my business to be closed,i worked towards that,pray to God for help, I changed my system ,that is the way i used to operate,and now ave seen a positive change

 

[Setho]

It is very sad whenever someone loses or is forced to close down a business. In this case you should accept it as the way of life and try to get yourself back by taking a break and relaxing and after you have then go back to the drawing boars again.

 

[Godleads1]

At the beginning of this year, a close pal of mine recorded failure in his 5years old business. But the good part of it is that his eyes got opened to another dimension of doing the same business which is quite favourable than the way he was doing it before. Let's always see or look for what lesson the failure wants to teach us. It could be a blessing in disguise.

 

[Mandypaul]

1. Collect outstanding accounts receivable (before you notify customers you're going out of business). ...
2. Sell off inventory. ...
3. Notify your creditors (suppliers, lenders, service providers, and utilities). ...
4. Notify your customers and deal with any remaining contractual obligations. ...
5. Terminate your commercial lease.

 

[Mostee501]

When a business closes, it is not the end of the world, rather one should work on a new business plan/strategies, and devise new means of carrying out the business.

 

[Ralphjoe]

When a business experiences failure, the first thing that someone is supposed to do is to have an introspection on what caused the business failures and try to avoid it in the next business.

 

[Nicklas22]

Starting and failing in your business is not the end, you just have to recoup and start again, you just have ensure this time around you learn from your previous mistakes and make a better plan before starting your business

 

[FreshKaz11]

When a business closes, new opportunities arise. Of course, sometimes we don't want to end up closing shop, but sometimes there's nothing we can do. But, let this be known, it's not a failure to fail a business. It's part of the learning experience and you are bound to find something new down the line.

Just let it be known, don't worry if you encounter a roadblock like this. Time will prevail and you will get through it.

As for me I never give up on anything am doing, because as a winner that. Sure that I am I never give up on anything am doing,but if I inventually close my business for one reason or other,I go and start up something else because I don't wanna settle for less.

 

[Pauljonnes1000]

Life goes on and that doesn't mean you can't raise again. It's part of your life and business experience. Although is never a palatable experience but you have to take it like that. This now should give you another way and zeal to forge ahead. Go and meet the more successful one over the business and try to let them know what you are facing and learn some other things from them. All will be well.

 

[Queentener]

Failing is not bad it's an experience, I have done more than 4 businesses that has hit the rock but I am determined to break through so I keep trying and I know that I will get there pretty soon.

 

[Dowenship]

Hmm.... A closed business is the birth if anther new one which might be more prosperous to the formal. This I believe because its happening to me today....

 

[Sheyemanu]

Concerning the topic at hand, i wiuld say that starting and failing in your business is not the end, you just have to recoup and start again, you just have ensure this time around you learn from your previous mistakes and make better workable plans

 

[Akinwale701]

When a business closes, new opportunities arise. Of course, sometimes we don't want to end up closing shop, but sometimes there's nothing we can do. But, let this be known, it's not a failure to fail a business. It's part of the learning experience and you are bound to find something new down the line.

Just let it be known, don't worry if you encounter a roadblock like this. Time will prevail and you will get through it.

This is a very devastating issue for a business which was once functioning well to close down, but no matter what, you have to move on and find another business to do.

 

[Psalmseen]

When a business closes, it's never the end. It means you have to re strategize but first and foremost, you new to determine what led to the failure so it will serve as a lesson and experience and it will help you to re strategize

 

[Ehizzy1]

When a business closes, it's never the end. It means you have to re strategize but first and foremost, you new to determine what led to the failure so it will serve as a lesson and experience and it will help you to re strategize

Yeah true you have to restrategise if you are willing to earn money from your business ,a lot of business have gone broke ,because of failure to restrategise the business

 

[Mastercoded]

When starting a business, have two things in mind, one is, it will succeed and two, it might not succeed. When any of the above option becomes possible, it will not come to you as a surprise.