Being successful or failing is a part of life. However, would you ever start the same business again if you become unsuccessful and fail to run it in the first place?
Would You Ever Start The Same Business Again If You Ever Fail To Make It Successful?
- Thread starter Good-Person
- Start date
It depends on the reasons for the failure of the business in the first place. If I could be able to analyse and understand the reasons behind the failure of the business and I think I can manage it successfully without failure again if given a second chance, I will start the business again.
Once I'm sure that the business is good and I have a strong passion for it, then failure is never a barrier for me to continue pursuing it. The fact that I failed in it once is a sign that I didn't plan well initially so I have to go and recoup myself for a better performance.
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Failure is not the end of life , if you fall just embrace it and think about what makes you fail , work on it and conquer it the next time you face a similar problem so yes, I will gladly start a business again if i fail in the first try,
Personally, I would restart the company again, I just have to make a good evaluation of the reason for the failure. Correct the mistakes and move forward. If you abandon a company or the beginning of any idea because of failure, you will never achieve anything.
If I'm able to figure out what really went wrong in my first attempt and realize that I could still make something out of the business, I can restart using new strategies.
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That is the right attitude, at least I share it as long as I can get the mistakes out of the way. With a good evaluation you can restart and move forward until you reach your goals, which is the main idea to achieve success.
Well it depends íf I would start that same business again, I would probably do that if there's something new have learnt that could be a gane changer for the business ànd drive it to succeed other than that one could venture into another
- Thread starter
- #9
The fact of the matter is that the people who do not give up are the ones who always succeed. However, it might be possible that you never gained success because that particular kind of business might not be your cup of tea. Perhaps it might be a better idea to choose a business that suits your needs and interest.
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If i had the money to start a business again then clearly yes
I might start such a business again if I can see at what areas I have failed in the initial attempt. If I could not get a convincing area of my failure, I won't go back to it again.
Business niche isn't what makes us to fail at first time. Some factors contributed to that. If we don't find better plan, work hard around it, with diverse strategies of driving the business to become a profit rich business.
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- Thread starter
- #13
Good planning and effort is the key to success. Unfortunately, not all the people are great planners when it comes to running a successful business. They tend to give up and think that the business is not profitable when the fact of the matter is that people were the one who never planned the business right way. So before closing a business, a person should think where he went wrong.
Yes , mistakes is part of the lesson we learn in life that we are not perfect and we are prone to make mistakes, so its our duty to wake up and work on our mistakes.
- Thread starter
- #15
I think that business niches are indeed important. This is because not all the people can be successful in any business. You have to choose the right business for you and what suits you the most. Moreover, you must only conduct the business you are interested in doing. This way you are more likely to become more successful.
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It is the right action to take to "work on our mistakes" because as you describe, we are not perfect and anything can slip or be forgotten. Making mistakes teaches us lessons along with wisdom for new actions.
David2008
Familiar Face
It really depends on you if you still want to do it then do it ,but first find your mistakes which made your first attempt fail and find a solution to it .
This is a good question. I have 2 businesses that failed but I have the confidence that I have clearly learned good lessons from the failures. Now I give advice to young entrepreneurs who consult me from time to time. If ever I would start up with another retailing business then I guess I could ace it this time because I have already built up a list of PPA - potential problem analysis.
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It depends on what I am able to realise from what led to the failure in the first place, if the failure cod have been have been avoided since I have the experience then I would try again.
The most important thing when retrying is to know where the mistake is and to correct it. Otherwise, there is no point in trying again, as you will make the same mistake again. You must be sure that you have found the problem.
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