How do get over a business failure?

[Espn]

I have a friend whom recently lost a business that he had suffered to build for about 3 years, and right now it is affecting his health.
I want to know if there's anybody that has experienced something similar and how the person was able to cope and survive.

 

[Bilal0087]

Oh I'm feeling very sad for your friend, may Allah bless your friend with success and health.
I think behind every failure there is some mistakes and also luck.
Every business must have a backup plane to survive in emergency situations.

 

[Farhan Aslam]

I have a friend whom recently lost a business that he had suffered to build for about 3 years, and right now it is affecting his health.
I want to know if there's anybody that has experienced something similar and how the person was able to cope and survive.

Buisness is failed due to wrong decision and poor management. We should start buisness according to the area requirement. We should deal it will full attention. We should work it out. The area requirement is must thing to start buisness.

 

[Espn]

Thanks for your contribution, I will pass the message over to him,and he try to apply the lessons he learnt when starting up a new business.
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Thanks for your contribution, I will pass the message over to him,and he try to apply the lessons he learnt when starting up a new business

Buisness is failed due to wrong decision and poor management. We should start buisness according to the area requirement. We should deal it will full attention. We should work it out. The area requirement is must thing to start buisness.

.

 

[Ridorz]

Your friend should take heart, and let him know that life's goes on. He should find another business to or continue with the same busines and try to figure out or realize his mistakes. So that he will not repeat the same thing.

 

[ahmedo24]

It is not easy to manage loses in business but the truth remain that moving forward is the next option, he should seat to analyze possible reason for his failure and solutions to avoid such reoccurrence, tell him not to stay alone , he should attend more business seminars so he can easily recover.

 

[Tariq Shehzad]

To over come the business failure, it is necessary that you should very firstly find out the business failure, then take some precautions and steps to save the business from that mistakes and failures.

 

[btaliat]

Failure is not a bad thing. Not going over it is the problem. For every failure we may encounter, we should learn how to rise again. Avoid what led to the business's failure and try another strategy.

 

[Donkiz]

In life there are bound to be ups and downs and most of us have had our share of it, that a business venture failed does not make one a failure. What I do whenever I tried something and it didn't work out as expected is to sit down and analyze my actions and inactions to understand where I made mistakes, learn from them and move on.

 

[giddy]

You do not have to come up with full contingency plans for any type of failure. Although, being mentally prepared for failing and difficult times is critically important. If you have expectations that things are going to go perfectly according to plan, then, once they do not, those hard moments will be more difficult than you will expect.

 

[Trojan8]

I think one can move on from a business failure by focusing on the positives instead of the negative side of things. Having learnt some good lessons from that failure, that could propel one onto performing better in a new business.

 

[Ralphjoe]

Business failure is no to happen in life because there is nothing that one does that is not capable of failure even with a well articulated plan.
So what I do in situations when I find myself failing in business or failed totally in business, I feel so bad and depressed, even to the extent of locking myself indoors for a time, but I soon get over it and even try again.

 

[Presido]

The first thing you must do to get over the failure of your business is to adopt a forward thinking attitude, manage your cash flow efficiently, you also need perseverance, determination and a positive mindset.

 

[Abibatabosede]

Before you start any business, you need to have a set goals and work towards achieving these objectives if it doesn't work out as planned, you must not stick to that plan rather you re strategize for better improvement.

 

[Ehizzy1]

I think one of the best way to get over it is by changing your plans and goals , because if one certain part did not work for you , then its best to try another part and see if it would work for you , i have experience such before , so change plans

 

[Richard92]

You can over come business failure by planning properly, before starting a business, you must have a good business plan on how the business structure will look like, your working capital, numbers of workers, proximity to raw materials market and also you must have to consider your consumers which is the Paramount reason of starting the business .

 

[Zubair]

Mental failure is injurious for the Person, if you accept that You are failed, your efforts will go in vain. So, You should Help Him Out To stand up again. Because if he Lost all the Concentrations, you will be The only One Who Can Urge him to grow up. Take Him away From Mental failure, he will definitely get success in his Business.

 

[MastetG]

Really sorry, but one thing is that loss can not be avoided in business is a sure thing
Losing one's sweat is the next worst feeling after the loss of a loved one or an accident. It is okay to brood and feel depressed over his loss. But he should never forget that he started the business in the first place, if he picks up himself now, he would do better because he already learnt another lesson on how not to run a business.

 

[Adexgrace]

Have not experienced such and I really don't know how failure in businesses feels like. And it is not anyone prayer to experience failure in business. But to prevent such things one have to plan business to results into success and also avoid excess spending.

 

[WhiteHouse]

Psychologically, it is just another event. Maybe later i will assess what happened. You really cannot let these things get to you. Just move on to the next project. But when you are alone or with someone trusted do you come to grips with the reasons for your failure. When you are responsible for a failure there is a real need to come to terms face to face with it. It is a learning experience above anything else. It should not drag you to despair.