How to survive when your business is in a dead industry

[kayode10]

It can be very hard to make money when you find yourself in a dead industry. I think the best way out is to look for compliments products to sell that goes along with the business you are into.

 

[eLdavis]

I don't really know much but in terms of movies, these days there are so many online streaming sites, it has become a common thing right now, you can move your play to these streaming plathfrom and make money from there with time

 

[kayode10]

I think the best thing is to look for another business in another good industry. it is better to cut your loose and ride on winning. There is nothing bad in starting all over again.

 

[joy101]

In this pandemic it is very difficult for business to survive but as a business owner you need to try to hard in order for business to survive in this pandemic.

 

[Lens]

It will be a bit difficult for the business to survive in a dead industry. You wouldn't want to go against the government laid rules. Your business could still survive if you maintain the social distancing . You will have to think on how to make moves around the laid down laws.

 

[Mayox25]

There are some businesses in the dead industry that can do turn a part of their activities to such that can do delivery services at home, offices etc.

 

[kayode10]

What's the find yourself in a dead industry, you need to get out. This is the reason why it is very important to have multiple streams of income.

 

[Grant]

Well a dead industry doesn't necessarily mean businesses dealing with the pandemic. A dead industry could be any industry that no longer works or is successful. In regards to the pandemic, I wouldn't say it's dead, but more so on break, or hiatus.

 

[tyrim88]

Well,life has returned to normal in my country so no more restriction. Aside from that,you can convert a business or offer something related to it. If your business is restricted by the pandemic, especially if you're in the entertainment sector, you can always deliver online content.

In a situation that one found himself deu to the pandemic,innovation is the only way to the resque,one will have to be creative and think of ways to beat the tide so that he would not be thrown out of business.He can swith into online.

 

[Snazzy001]

If your business is in a dead industry does not mean it will not survive at home.It is left for you to develop some skills and find some new creative ways of raising your business to its peak once more

 

[Thinker009]

I think it's difficult for business to survive in this pandemic ,And I think many business had to borrow loans and others to avoid their business liquidating further I think

 

[Kubiat-Abasi]

Before you venture into a business be upsurge of the pandemic has taught us to always have a plan B in case of unforeseen circumstances, so we can restrategize.

 

[joy101]

Dead business can be disturb but one should never give up when experiencing such business, you should try to work on such business so that it will back again.

 

[Trexxxy]

I think it is going to be hard, especially for people who have a lot invested in. I think what they can do is to weather the storm and perhaps bid their time till everything goes back to normal.

 

[Kvngsammy]

Asides selling of stuff or diversifying, a lot of businesses began engaging their customers in the online space - some created virtual shows and the likes, home deliveries (for eateries and such).
Even those in the tourism industry can package videos of places and sell or give virtual tours.
It's all about innovation in this times.

 

[Godspower]

It may be wise to keep on persevering as these businesses will surely bounce back after the pandemic. Most businesses and entertainment centres have re-opened gradually and people are beginning to patronize them again.

 

[Seno inyang]

It's really difficult finding a better way to bring back into life the following areas of businesses affected by the pandemic rules such as bars, hotels etc but one wouldn't just fold his arms and stare at the whole situation without struggling to find positive ways to getting back up. There are alternatives. In bars, if it was a kinda closed door stuff then you can bring the venue outdoor and observe the pandemic guidelines.

 

[joy101]

When business is about to fall you need to add some capital in order to help the business to stand, and also focus on the business, I believe that you can make the dead business to grow back again.

 

[Kaffyfolla]

The way you think about your failures is key to your success. After re-evaluating your company, chances are you have found where you went wrong and are ready to redefine and rethink your strategy. You have decided to not give up, and are determined to succeed. This is a great step in reviving your dying business

 

[tray591]

The way you think about your failures is key to your success. After re-evaluating your company, chances are you have found where you went wrong and are ready to redefine and rethink your strategy. You have decided to not give up, and are determined to succeed. This is a great step in reviving your dying business

Giving up is a failure it self you dont have to give up when your business is fail what you need is proper examination where the business starting failing seal those hole and correct those mistake then you can have your business back,you also need to manage your intial capital very well and ensure your business fund is not misuse