Restarting the same business after failing the first time

[cowantussie]

Business in general is a risk and it is also filled with opportunity. Yes I will start up a business which I start before but was not successful. From the mistakes I made from the past I will work on that and try to improve on the areas that didn’t work well and add more strategy so that it will succeed

 

[Bookwormlux1]

Sometimes businesses fail because the owners didn't have enough money to fund their business. In this situation, it would be nice to restart whenever you have enough capital.

 

[Shigobad20201]

In business , its not every business that flourish in life, some gain and some loose , so its better to try again and see how it goes, the business might fail at first because of lack of fund to finance the project.

 

[Kunkun]

Well at least this time one has experience having failed before and probably won't fail again where the business ended the first time, I won't say starting the same business again is a bad thing but failing again would be a bad thing

 

[Kelly5]

Sometimes businesses fail because the owners didn't have enough money to fund their business. In this situation, it would be nice to restart whenever you have enough capital.

That is why it is very important for the business owners to be certain that they cover all the basis In their planning process of starting a business before actually launching out

 

[eLdavis]

Before you thinking of restarting a business that once failed, you should make sure its actually worth it and you much have seen the potential in it. Like i once started forex trading and failed more than once but i kept on trying cause i know what i stand to gain if i succeed. While there are some business that are not worth it.

 

[Eodine]

I actually find it wise to continue a business because failure gives room for a better step in restarting as you get to do things right based on the experience you have gotten

 

[Patrik]

If you think that you learned from your mistakes or knew what went wrong that led to the death of that business at the first time, then sure, why not

 

[Shigobad20201]

Business in general is a risk and it is also filled with opportunity. Yes I will start up a business which I start before but was not successful. From the mistakes I made from the past I will work on that and try to improve on the areas that didn’t work well and add more strategy so that it will succeed

I think restarting a business that is already failed needs rethinking and also restrategising, thinking about how the business fail is the first aspect, looking for a solution to the failed business so that it won't occur again is the last one.

 

[Trexxxy]

We need to understand that mistakes are part of life. Restarting a business after failing isn't a bad idea, you learn from the previous mistakes.

 

[cowantussie]

I think restarting a business that is already failed needs rethinking and also restrategising, thinking about how the business fail is the first aspect, looking for a solution to the failed business so that it won't occur again is the last one.

Yes I agreed with you. Rethinking and restrategising will help in the restart of a failed business but also one has to do a market research on what cause the business to fail buy knowing your fault you would be able to succeed in the restart

 

[FreshKaz11]

Business in general is a risk and it is also filled with opportunity. Yes I will start up a business which I start before but was not successful. From the mistakes I made from the past I will work on that and try to improve on the areas that didn’t work well and add more strategy so that it will succeed

I don't thinks there is any law that goes against restarting of a failed business,if you still have passion for it you can go ahead and start the business back but make sure you learn more about it so you won't fail in it again.

 

[cowantussie]

Yes you are correct but note that passion is not all it passion for a business goes with hard work and learning from what you did wrong that cause the business to fail

 

[Richard92]

restarting a particular business after falling is possible when the investor believes so much in that business and have that faith that he can succeed in such business.

 

[Sheyemanu]

Well, in reply to the question in your above post concerning restarting a business in which it has failed before all over again, I do have to say first of all that winners never quit and quitters never win, so this enough for you to know what to do

 

[Ralphjoe]

I see no issue with restarting a business in which you are failed at first as there are very high possibility of you making it the second time as you have learnt from your first business that you opened.

 

[Setfragil]

There is nothing wrong to restart the same business that has failed you before but before you reestablish such business, you need to ask yourself if you have corrected or know the solution to the reason why the business failed in the past.

 

[Razor1911]

There is nothing wrong to restart the same business that has failed you before but before you reestablish such business, you need to ask yourself if you have corrected or know the solution to the reason why the business failed in the past.

But we must first understand the reason behind failing the first time. If we are restarting the same business even after learning from it, then the purpose is not solved. We need to understand the reason behind the fall for the first time and then rectify the faults.

 

[Suba]

Business in general is a risk and it is also filled with opportunity. Yes I will start up a business which I start before but was not successful. From the mistakes I made from the past I will work on that and try to improve on the areas that didn’t work well and add more strategy so that it will succeed

So for restarting your business you must be able to find out the cause of failure, do your business in a simpler way, estimate your business development in the future, and you must learn to pay attention to business finances and cashflow, If you fail due to natural disasters such as earthquakes, floods etc., Then you take property insurance. And most importantly you are more confident and optimistic. Good luck.

 

[Josemendez]

Business in general is a risk and it is also filled with opportunity. Yes I will start up a business which I start before but was not successful. From the mistakes I made from the past I will work on that and try to improve on the areas that didn’t work well and add more strategy so that it will succeed

Ofcourse , once we are able to discover what we failed to do well during our first attempt , in the second attempt we will work on that and hopefully things will turn out well for us.