My Business is Failing….What Now?

Have you ever had a time when you feel like your helpless? No matter what you do nothing seems to work and yet, those around you seem to be doing incredibly well. This is what it’s like to be in the grip of a business failing.

Escrow.com

Running a failing business is a scary proposition. There isn’t enough cash to pay all the bills and creditors start hounding you for money. You never know whether you should answer the phone or not because you’re not sure if it’s someone about to bring some business in or someone chasing you for an outstanding debt.

The stress levels at work increase dramatically and this often impacts loved ones as the days disasters spill over into home life. Is running a business supposed to be like this? Isn’t the reason why you’re working so hard is to provide a better life for your family?

If the business completely fails, then what is the outcome? Many people (especially males) tie their self-worth to their businesses and they end up getting more and more depressed as they scramble to save what is often unsaveable.

The first thing a business owner needs to realise is their self-worth has NOTHING to do with their business but has a LOT to do with their personal integrity while going through the tough time. The measure of a person is how they behave during adversity not how they act when things are going well.

Over the years I’ve helped a lot of business owners out and without exception they believe either;
1. A big deal that’s just on the horizon will solve their problems OR
2. If that investor just put a lot of money in then all will be good.

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Wolftalker
Good advice.
14 July 2018
Rawgi
I will agree Good advice. Can't ever feel too good to eat some humble pie and roll back to square 1. It actually makes you stron... Read More
14 July 2018
Guest — Robin John Parnaby
Michael : You sure nailed it,unfortunately a lot of people will never get to read the above. I did and have taken it on board.I ha... Read More
14 July 2018
3236 Hits
4 Comments