Restarting the same business after failing the first time

[Jlife]

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.

about from that, there are some business that do not really need money but experience and other skills is needed for it to be successful,if he understand what it will take to succeed in the business again I don't see the need for him not to start it.

 

[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

Restarting a business simply means going back to the drawing board after failing in a business , think about how you fail, retrategise and come back with full force to be a better business man in the same business.

 

[Razor1911]

Restarting a business simply means going back to the drawing board after failing in a business , think about how you fail, retrategise and come back with full force to be a better business man in the same business.

That does not mean to erase everything and start from the beginning, obviously you will get the experience with you. And that experience will surely will give boost to your skill in your second or third attempt.

 

[Sotherefore]

You should have not given up in the other business already,you should have used that opportunity when you were still in the other business to learn more about how to succeed in the business, starting afresh means that you still need a lot of money to set up everything.

 

[Senator]

Restarting the same business that once failed before might be due to the fact that the business owner had learned some facts that made the business fail the first time.

 

[Good-Person]

I might only consider re-starting the exact sam ebusiness once again if I believe that I failed because of my own bad strategies and decisions. I might evaluate or analyze why I suffered and if I really believe that my plans were faulty, then I might consider re-starting the same business with new, better plans.

 

[GIFTMICHAEL]

Restarting the business for the second time isn't a harm, it can still become successful when we learn from those factors that made us fail by correcting it.

 

[Alexandoy]

If you think that you have learned a lot from the failed business then I guess you can do a restart if you have the capital. There is nothing wrong except that my suggestion is to get new personnel and not to rehire the old ones. Starting on the right foot means all corners are covered including the changes in the system, methods and procedures.

 

[Bookwormlux1]

about from that, there are some business that do not really need money but experience and other skills is needed for it to be successful,if he understand what it will take to succeed in the business again I don't see the need for him not to start it.

That is a good thing if only the person is willing to learn again before starting as you cannot gain experience without learning something.

 

[Jlife]

That is a good thing if only the person is willing to learn again before starting as you cannot gain experience without learning something.

ok in this case if I have someone to employ into my business organisation and the person do not get the required skills that is necessary to run the position successfully, how will the person gain experience because I cannot teach the person.

 

[Bookwormlux1]

ok in this case if I have someone to employ into my business organisation and the person do not get the required skills that is necessary to run the position successfully, how will the person gain experience because I cannot teach the person.

You should consider paying for the person to take the training in any institutions teaching it and this should be after proper agreements have been made.

 

[Jlife]

That is a good thing if only the person is willing to learn again before starting as you cannot gain experience without learning something.

Lolz,most people always gain experience after they have fail in the business and that is when they think of learning from other people, if could have been better for them to learn from people first and succeed in what they wanted to do. I'm also a victim of this.

 

[Ub40]

I don't see any problems in starting again the business you failed on. Restarting will give you even more chance to go back to the drawing board for possible amendments. And remember the saying "that experience is the best teacher"

 

[Psalmseen]

Restarting the same business after failing the.first time is a very good move.. You would have learnt lots as a result of the failure, what makes you fail as well as work on it so you won't fall victim again
.

 

[Haveit]

I am a fan of restarting a business because when you restart a business you have the experience that led to failure from the previous time and then you can avoid such.

 

[Justin]

If the previous business failed due to lack of funds, you can always restart the business by injecting more funds. But before you restart the business make sure to do research

 

[Richard92]

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.

One can start a particular business after filling the first time if he or she has good vision for that business and has a feeling that went he or she start up the business will succeed this time.

 

[Josemendez]

One can start a particular business after filling the first time if he or she has good vision for that business and has a feeling that went he or she start up the business will succeed this time.

I think it is more of him understanding what he failed to do right at the first trial and discovering how he is to do it right at the second trial. This is what will help him .

 

[Niftyyem]

The important thing is to discover where you did things wrongly and rectify that mistake as you start up anew. If a business is my passion, I won't mind start it again and again if need be.

 

[Bookwormlux1]

Lolz,most people always gain experience after they have fail in the business and that is when they think of learning from other people, if could have been better for them to learn from people first and succeed in what they wanted to do. I'm also a victim of this.

It is not their fault though. You know that at first, everything would seem very easy and profitable until you start before getting to understand better.