what will be your reaction once your business fails?

[Janita]

I will try more and more time for the success because once I failed than I will get the right way for the achievement.
I think when we failed in one thing we easily understand the mistake that what mistake we should avoid doing again so it's obvious my reaction will be bad but I will try to handle it.

 

[Pirate]

I think my business has gotten to a level where failure is not an option, even if failure were to be around the corner I'll percieve it from a mile away and put things im position to make sure the business doesn't fail.
But naturally anyone who's business fails will feel sad and dejected but the right attitude is rising up to the challenge.

 

[EMMANUEL]

Accept failure
Failure is part of the process of starting a business and being an entrepreneur.

You might hear about lots of “overnight successes.” In most cases, these stories don’t reveal the missteps behind the eventual achievements.

For instance, researchers and doctors often invent thousands of failed vaccines before they finally make one that works.

Similarly, entrepreneurs sometimes start several businesses before they find a formula that results in profits.

Some business owners, on the other hand, are so scared of failure that they’re debilitated with fear. This fear stops them from acting, pivoting, creating, and founding.

If you find that you’re scared of failure, try to find acceptance.

As I said before, you’re not alone.

There are many reasons that startups fail. According to a poll conducted by CB Insights, business founders stated that their businesses most often failed because of a lack of market need.

 

[Chumzy]

Business failing doesn't exactly mean that it is the end of the world for the owner of the business. Most times it is normal for an idea to fail and then we have many more ideas to bring to life. So the most important thing is to learn the cause of failure and learn to grow over it.

 

[Thosynho]

we all know that failures can't be predicted most of the times, that's why people should be careful and put their plans before starting a business so they don't feel shocked when something bad happens, what's the first thing you do once you find out that your business is about to fail or failed already, what would you do?

A failed business is not the end of life. As a matter of fact, if ones business failed, it could be as a result of many things which one needs to carefully consider and then re-strategies on how better to go about it and make it in that same business.

 

[joy101]

There is nothing one can do when business fall but that should not be the end of life, we should keep in mind that failure can occur at any time in the business, but that should not make you not to start again,

 

[Eyiteepraise]

The first thing I will do is that I will analyse the failure, I'll check the causes of the failure and also check my decisions that had led to those causes. Then I'll try to get my finances in order, and then try to work with other entrepreneurs.

 

[Kennysplash]

we all know that failures can't be predicted most of the times, that's why people should be careful and put their plans before starting a business so they don't feel shocked when something bad happens, what's the first thing you do once you find out that your business is about to fail or failed already, what would you do?

If it happens to me I will certainly feel bad and discouraged. It may take time to get over it but I will eventually, and then I will restrategize and try to determine what went wrong. I will try hard to improve a d not make the same mistake again.

 

[iCesarkevin]

One of the biggest fear of every businessman is that their business fail. Honestly it could be very hurtful though it's a part of doing business but I hope it won't happen. Just check the possibility first before going to something.

 

[iamgroot]

A problem in a business why it fails, but before it comes to a failure, know what causes the problem. Being PROactive is better than REactive.
An example of a problem that entrepreneurs face is a decrease in their income. What I see as the reason for this is the decline in consumer interest in the products or services you sell. Of course, as a consumer, you want to keep up with today's trends. Just like buying good shoes, you want to have trendy shoes now so you buy. But before you buy, you should check them out at various stores. What your buyer is looking for is a good pair of shoes and good value for the pocket. But your product that your consumer is looking for is not that good. Easy to break and expensive at the very price of the shoe. That will be the reason for your income to decrease because your customers will be reduced. The solution I think is as much as possible to find a supplier that you can afford to get the product your customer is looking for. Also check the prices of your product at another store so that someone can at yours, he will buy your product because your price does not go far from other stores and the quality of your product is good and worth the pocket. Every problem that a business faces must be accompanied by a solution. Because if you just ignore it, your business will collapse.

 

[Richard92]

If my business fail I will take a drastic action to bring my business back to life. When a business fails it is the negligence of the management, because it is the management that overseas such business in every organization.

 

[Ifective]

I believe failure gives you opportunity to start again without making the same mistake. If my business fails, then I will restrategise and look for another means to do the work. Failure is not the end of the journey. Its another opportunity to start again in a better way

 

[Abibatabosede]

Any one planning business should always prepare for it's good and bad as it is known that business is a risk so as to be able to handle it if something like that happens. You should always have a plan B to back up your business in case you need it.

 

[Hdre3m3n]

business failure is not the end of the business, it does not determine the future of the business. It is just to correct some mistakes you made when managing the business. All I do is highlight the causes of the failure and think of a way forward

 

[Donolatunji]

Starting Over: How to Move on When Your Business Fails
Practice acceptance and self-care. Failure happens even to the best of us, so don't be too hard on yourself. ...
Evaluate what went wrong. ...
Figure out your finances. ...
Build a support network. ...
Reinvent yourself.

 

[haider00]

we all know that failures can't be predicted most of the times, that's why people should be careful and put their plans before starting a business so they don't feel shocked when something bad happens, what's the first thing you do once you find out that your business is about to fail or failed already, what would you do?

Firstly i feel bad after that I will be careful for next time and try to that not repeat those mistakes which is caused my business failure.

 

[Adventurer]

we all know that failures can't be predicted most of the times, that's why people should be careful and put their plans before starting a business so they don't feel shocked when something bad happens, what's the first thing you do once you find out that your business is about to fail or failed already, what would you do?

No one ever wants to be in this situation but if it happens, dust yourself up and try again! And no need to beat yourself mistakes do happen. But you must take a break before trying again to analyse and identify where the mistakes happened to ensure they do not repeat themselves.

 

[Mujahid12]

we all know that failures can't be predicted most of the times, that's why people should be careful and put their plans before starting a business so they don't feel shocked when something bad happens, what's the first thing you do once you find out that your business is about to fail or failed already, what would you do?

Before starting any business plans and preparation are necessary because with planning and preparation should step into the business and achieve success in it, if you do not do it then you will struggle and face difficult to achieve success.

 

[Jassshhhhh]

You'll surely be hurt and feel miserable. Imagine putting all what you have on something then it'll just fail. But for me, it's not how you fail, it's rather about how you bounce back from that failure and learn your lesson. A business will always have successes and failures. Analyze what went wrong and use that lesson to build a better business.

 

[Hassan14]

we all know that failures can't be predicted most of the times, that's why people should be careful and put their plans before starting a business so they don't feel shocked when something bad happens, what's the first thing you do once you find out that your business is about to fail or failed already, what would you do?

Post automatically merged: Jan 23, 2021

we all know that failures can't be predicted most of the times, that's why people should be careful and put their plans before starting a business so they don't feel shocked when something bad happens, what's the first thing you do once you find out that your business is about to fail or failed already, what would you do?

Once I fail in my business it will teach me a lot and again I can run my business well and work in it quite well because it is a challenge when you fail. We become successful in our business and again when we start that business we succeed in it because what ever fails can never be more failed it succeeds one day