GOING OUT OF BUSINESS: WHEN TO THROW IN THE TOWEL ON YOUR BUSINESS

Black Handled Key on Key Hole

“When to shut down.”


closing time

You look around your business and then you find that you are not receiving as much traction as you once did, or the fact that your business has not taken off yet. Now you must ask yourself the question of whether I should close shop. And this is something that a lot of business people find themselves asking on a daily basis. So what are the steps one must take when they realize that the doors must go closed? Well for starters, you need to purchase yourself a lot of cleanex because you will spend a lot of time crying trying to piece together the travesty that has taken place.

accept it

Once you realize that you are facing closures, just deal with it. There is nothing worse than seeing someone that knows they need to close shop holding on. Realize that it is over and close the doors. Because the people who hold on longer than they should waste time and wind up losing more money than they need to. It’s hard for them to look at reality and say to themselves, this is it. But you have to do it before you become even more depressed and destitute.

paperwork

With every stroke of the pen, you are realizing that your baby is going down the drain. And the paperwork you have to fill out makes your heart sink a little each time you sign. It seems as if the paperwork to close the doors took longer than the paperwork needed to open the doors. So finish this an move on to the next steps.

money woes

Here is why you should be quick in trying to get the doors closed. Because the longer you keep that business open, the more money is wasted in the time period. So work on getting that in order. Also, if there is any equity left in the property, that can be used to pay any debts that you may have accrued. Just because the doors are closed don’t mean the bills stop coming. You have to still pay off any outstanding loans that you signed as well.

hand in the keys, on with life

Once the keys have been turned in to the business, on to the next thing or venture. You cannot for any reason stop. Easy to say, but if you stop, then your issues will start to really surmount. So throw in the towel, but realize that so many successful people failed their first attempt. You have to keep going and never give in to the losses.


My Personal Website: www.faheemjackson.squarespace.com

Instagram Me: @theefaheemjackson

Twitter Me: @2320howe

Tumblr Me: @fjackson44

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