What can be done when a business is crashing

[Peterlight]

Just few days ago, I heard that my friend provision store got burnt cos the gas store next to is blew up.
All is life savings was put into the business and he is still owing alot of people money.
I am short of words that's why I brought the matter here.

What can he do now?

 

[WhiteHouse]

He needs to re-strategize, look for the way forward, I don't think there's insurance on that store?.

 

[Josemendez]

You need to determine what is causing the business to experience a fall and work on it.

 

[Lagazine]

When a business is crashing, the business owner need to investigate the foundation of the problem by rolling out a questionnaire to all the remaining customers and staffs, to know what has happened and how to go about it. I'm sure, the reason why the business challenge starts will be discussed in the questionnaire.

 

[Sariana23]

It is very unfortunate, if you could not recover anything because perhaps you did not have it insured, you should take everything that happened as an experience, act positively and start from scratch again. Never decay.

 

[Lyrrex]

Just few days ago, I heard that my friend provision store got burnt cos the gas store next to is blew up.
All is life savings was put into the business and he is still owing alot of people money.
I am short of words that's why I brought the matter here.

What can he do now?

Is your friends business insured? If no then he has to make other plans I maybe talk to family and close relatives for financial assistance to Forge ahead

 

[greenie]

I'm sorry to hear about this situation but it must be mentally strong and not crash. easy easy everything will return to normal, you have to be by his side and help him as you can

 

[Alexandoy]

If there is insurance then well and good that he can at least have the opportunity to stand up and recover. But without insurance I guess he has to declare bankruptcy. His creditors will surely understand because he can cite the tragedy that happened. A fire can really cause a big loss and it would be so difficult to go back with a new strategy because no more capital, no more stocks and plenty of debts.

 

[Nurudeen]

This now brings us back to the term insurance. Had it been your friend has a plan with insurance company, be wouldn't be scared with what might be the challenges from the hurdle

 

[iamgroot]

Think of a business that fits on his assets(right now) because you said that he lose all his savings because of what happened. But if his past business succeed, lending some money in order to sustain his financial needs to his business will do, because not all people are gifted when it comes in running a business. Just a thought ☺️

 

[ranaabubakar263]

If your business is showing any of these four signs, take a step back to reflect on whether your business is pacing for growth. When you master the practices of focus, routines and recovery you'll help your business perform today while transforming for the future -- without crashing and burning.

 

[Janita]

It's all about your mind levels because if you are able to maintain the crashed things properly I don't think so you will get more loss and to handle and maintain the situation everyone will cooperate with you and they will manage the loss that you had lost in bad time.
There are several ways to overcome these problems like you can concern with experts those experts who are running businesses they will guide you well.

 

[Peppul]

Firstly as a business owner you need to put some things into place concerning your business. First is insurance on your business incase something goes wrong then your insurance can help cover it up, and if your business is crashing get expert to help reactivate your business, do lots of advertising for your business and make sure what you selling is what people need and be good at it. And lastly if the business is not something you passionate about then you need to think otherwise and look for a better business you can do.

 

[Hasan Raza]

When your business is going to crash then you should adopt following points. First lead your team with examples of the person who boost their business when in crash scene. Also determine what is actually on fire and set up the right workflow when you delegate.

 

[Taimoor Jutt]

Oh bad very sad this is. How will the condition of that man who lost his all hardworking money, it will very difficult to move on from this stage. He should to forget this and this phase will be re building for him difficult to stay there. So say come on and go with positive attitude.

 

[joy101]

What can be done when business crash, as the owner of the business you need to take something into consideration, you to find out what the problem is, and work on it, a business owner have to be checking your business everyday to know if the business is crashing.

 

[Asad Ali]

There are ups and downs in life, but the best solution is to forget the past and think about the future.Now it needs to start small and grow slowly What is the cause of the fire and why did the fire start? Keep it in mind and find a solution so that it does not happen again Move on

 

[MarieArie]

Just few days ago, I heard that my friend provision store got burnt cos the gas store next to is blew up.
All is life savings was put into the business and he is still owing alot of people money.
I am short of words that's why I brought the matter here.

What can he do now?

You first need to ask if his company is insured. If it is under insurance, he still has some respite to get some percentage. And if he does not, well, he has to get some findings or other source of government funds to help him out. His shop burning is quite disheartening.

 

[Eyiteepraise]

You must first of all identity the reason behind the crashing and check for possible solutions. Check your desire for right now innovations. Think before you act, keep a private notebook of ideas. Don't tell anyone about them until you have taken time to flush them out

 

[Richard92]

The best you can do when a business is clashing is to restrategise, that is have a new plan. Every business owner must be very innovative and creative In other for them to beat their competitors in the market, you must always think faster than your competitors to improve the brand of your products in the market.