That a business will or may fail is part of the equation. Truth is, many more businesses fail than succeed so don’t be too hard on yourself. So just before you quit your business, maybe #MondayMarket can offer some ray of hope in form of #MondayMotivation.
You may have decided to delete the business into oblivion and trash every effort you’ve ever invested into that business, but can you do a final quick assessment of your adventure so far?
Why did you start the business? If it was about your survival, then we are glad to issue your business a death certificate even before you finally pronounce it dead. That kind of business is of no use to anyone except you, so it’s even good that it dies quickly. If it’s a product of an opportunistic advantage, then obviously, the tide had turned and the business needs to die a natural death. But if you started because you wanted to solve a problem for us because of your passion about offering value to your community, then that business cannot and must not die. If you seek to contribute your quota to the socioeconomic development of your nation and improve their quality of life, then we won’t allow that business die.
We’ll be glad to call all the business paramedics, quickly wheel that business to the nearest business clinic theatre for a thorough diagnostic and possible surgery. The possibility of business failure is part of an entrepreneur’s journey but it must be under the most difficult circumstances. So, check the motive. Once your motive is clarified, then ask yourself; are people in need of what you offer and are they willing to pay for it?
Do you still have die-hard customers both within the enterprise, especially your team and guys who patronize your business; your loyal customers? These guys are an integral part of the fuel you need to fire yourself up and keep pushing harder. Again, have you considered that people will disappoint and mess you up? Do you imagine human resource drama is really an important part of business? Hence if human resource issues are a part of your headaches, welcome to the real world. It’s not worth the stress. It’s really difficult getting loyalty in this aspect.
What’s your business finances like? A mess? That’s a major part of the cause of failure. Get a grip on it and set order in your cash flow. A business is more than an idea, it’s coordinated economic activities and it will take a lot of your time, energy, sweat, creativity and innovation to keep it running. Then there is the “law of vineyard” that says “labour at whatever you choose to do for 3-5 years and if it doesn’t make sense within and after that period, you can quit”.
When all hope seem lost, get new hope. Hope is the food of faith, faith feeds on it. Tell yourself, you’ll make our own socioeconomic contributions to your nation despite all.
Remember, our world is waiting for your bloom as the influencers and authorities of our time and the generation next. Go do exploits!