what will be your reaction once your business fails?

[Shivay]

First of all, he can even get depressed because business failure is a very big issue and the person can even go in depression but he has to overcome this, he has to learn from that lesson and not to cry about his failiure and if he does learn a lesson then, next time he will surely succeed.

 

[Planet408]

The truth is that you can't kill yourself if your business fails. You just have to be strong and find a good way to move on. At same time you need to make good plans on how to start a new business. Always remember that failure is not the end of life.

 

[Adetayo100]

Expose yourself to more entrepreneurs, whether that means attending more networking events, connecting with more entrepreneurs on social media, or just introducing yourself to business owners. Share your experiences and ask about theirs; you’ll get some new perspectives, and make new contacts along the way. Ideally, you’ll learn new ways to deal with the problems you faced as a business owner, and you’ll get some sympathetic support at the same time.

 

[Adebayonle7]

Business failure definitely isn't the end of the world and one can always try again. If my business fails, I won't begin to lament immediately. I will sit down and calculate my business. Calculate as in think about all possible ways or where I might have gone wrong with the business. I'll check every aspect of the business. Once I find the reason for failure, I'll contact other seasoned businesses and owners to learn how they've dealt with such, or if they've not experienced such in the past, I will find out how they've been able to avoid such. I'll learn, grow, restrategize and come back better.

 

[Sariana23]

You'll surely be hurt and feel miserable. Imagine putting all what you have on something then it'll just fail. But for me, it's not how you fail, it's rather about how you bounce back from that failure and learn your lesson. A business will always have successes and failures. Analyze what went wrong and use that lesson to build a better business.

Very good comment and yes, indeed, when there is a business failure, you have to analyze where the failure is, correct and learn the lesson. We all would be affected by failure, the important thing is the actions to take, and as you describe "use that lesson to build a better business", is the best option.

 

[Kane]

My last business failed two years ago, am not thinking about another business anytime soon. I want to get rest and not think about business when my business fails.

 

[Setho]

First off, I try to go into any business or investment with the hope in mind that I could fail. So if it does, I just give myself a break to try to put my head in order then try to find out exactly what I did I wrong for it to have failed. Then I will go back straight to the drawing board.

 

[Adebola]

What business fails, it not right to quit or blame yourself rather restrategise and launch better because you are not starting from the scratch again

 

[Victor001]

I will definitely rise up,what makes great men is how they can handle failure,how do you know the path of success without establishing the path to conquer failure

 

[Sheyemanu]

Well I do think the question should be rephrased what will be my reaction if my business fails, because no one prays for their business to fail, no one does. Per adventure this happens, well I'd first go back to the start, what was the reason i started

 

[nimzy]

it is publicly says the fall of a man is not the end of his life so the fall of business should not discourage you from trying another thou I will feel very bad but I have to let it go.

 

[Setho]

If I am going into any business or investment, I always have the notion at the back of my mind that it could either go good or bad so I prepare myself for the warning signs and avoid loosing too much money but if I do I go back to the drawing board.

 

[GIFTMICHAEL]

No one feels happy succumbing to business failure(s). If I'm the victim of the failure I'll feel bad, and very weal to carry on. But due to I'm eager to see success I'll give a go.

 

[Mostee501]

I will react in different ways depending on what made the business to fail, if it's lack of finance, I'll look to go into partnership or request a loan to rise the business.

 

[Setfragil]

When a business fails, the first thing that set in is demoralization. You will be demoralised and you will want to give up on everything concerning your business. When you are demoralized you will stop going to work and likely sleep all day.

 

[Richard92]

No one wants his or her business to feel when your business fail you will feel bad but one thing you have to know is that you have to keep trying and not to give up, giving up is very bad but being dedicated will help the business rise again.

 

[Spicywilfred]

The first thing I will do is to gather resources, and prepare for my back up plan. Having a back up plan will help save a business owner once the initial business fail. That is why it is very advisable to have a business plan.

 

[Georgeadawara]

My reaction when my bussiness fails will be change of another type of business and also know the possible cause of the failure and knowing the possible solution to it

 

[Kelly5]

No one just sits back and want to watch his or her businesses to fail. But after putting all the necessary effort and pulling all manner of strings to make the business work and it still didn't work, I guess I have to accept the fact that it has failed and move on to something else.

 

[Good-Person]

Well, if my business fails, then I would bes certainly devastated because I am already old enough to establish my own business. I am 29 years old and I believe that people at this stage should be settled in their lives. Unfortunately, I am not yet stable enough. I have yet to start my career and make money and do a lot of stuff required to make money. If I fail at this stage, then I would be certainly devastated.