keysha Posted July 29, 2010 Group: Members Followers: 0 Topic Count: 38 Topics Per Day: 0.01 Content Count: 70 Content Per Day: 0.01 Reputation: 1 Days Won: 0 Joined: 06/28/2008 Status: Offline Birthday: 04/01/1978 Share Posted July 29, 2010 I'm having a hard time trying to figure out what i need to do about a business decision I made. Business has been real slow, and I been using my own savings to keep it open. Its been 7 months and is been complex trying to pay bills for business and being late on bills at the home. Im about to pull my hair out. Its really hard and I on the edge of it all. My contract, my life, my motivation is all on the line. There is no profit because what is made is spent back in the business. Please help. Thank you... Link to comment Share on other sites More sharing options...
ladypeartree Posted July 29, 2010 Group: Royal Member Followers: 37 Topic Count: 542 Topics Per Day: 0.08 Content Count: 33,043 Content Per Day: 5.05 Reputation: 23,856 Days Won: 237 Joined: 06/21/2006 Status: Offline Birthday: 02/23/1953 Share Posted July 29, 2010 Only YOU ( and maybe an accountant ) can tell you if it is worth keeping the buisness going. Many many people have had to close down due to this world wide recession and lots that HAVE managed to keep open have had to " scale back ". Try praying about it then looking with clear eyes at how things are and make a decision based on fact and not sentiment ...I know it is hard but sometimes you have to cut your losses and wait till the time is right to start again Link to comment Share on other sites More sharing options...
Guest man Posted July 29, 2010 Share Posted July 29, 2010 What advice would you give someone in a similar situation? Try looking at it through the eyes of an outsider. I know it's hard because it's yours, you built it, it's personal. Weigh the pros and cons of keeping it open vs closing it. What kind of business is it? Link to comment Share on other sites More sharing options...
Guest Posted July 29, 2010 Share Posted July 29, 2010 Praying! Link to comment Share on other sites More sharing options...
MorningGlory Posted July 29, 2010 Group: Royal Member Followers: 0 Topic Count: 1,022 Topics Per Day: 0.16 Content Count: 39,193 Content Per Day: 6.09 Reputation: 9,977 Days Won: 78 Joined: 10/01/2006 Status: Offline Share Posted July 29, 2010 First let me say how much I admire your initiative. Starting a business is ALWAYS hard and nerve wracking (from what I'm told; I've never done it). Please take your concerns to an accountant and let him/her advise you. Is there a possibility of bringing in an investor or two? I hope you are able to keep going because, as you know, small business is the life blood of any economy. I will pray for your venture, Keysha. Link to comment Share on other sites More sharing options...
EricH Posted July 29, 2010 Group: Royal Member Followers: 3 Topic Count: 366 Topics Per Day: 0.05 Content Count: 10,933 Content Per Day: 1.57 Reputation: 212 Days Won: 1 Joined: 04/21/2005 Status: Offline Share Posted July 29, 2010 Moved from General Discussion to Looking for Advise Link to comment Share on other sites More sharing options...
wyguy Posted July 29, 2010 Group: Royal Member Followers: 1 Topic Count: 373 Topics Per Day: 0.07 Content Count: 3,331 Content Per Day: 0.59 Reputation: 71 Days Won: 10 Joined: 10/15/2008 Status: Offline Birthday: 12/24/1965 Share Posted July 29, 2010 Burn it down for the insurance money. Am I the only person that still believes in the old fashioned way of dealing with a failing business? Just kiddin' Seriously, one of the best things you can do is go to your local Chamber of Commerce for a little advice. Or perhaps you can take on a business partner or two to pump some needed funds into your business in exchange for a percentage of profits. If all else fails, banks are starting to lend money again... Link to comment Share on other sites More sharing options...
ladypeartree Posted July 29, 2010 Group: Royal Member Followers: 37 Topic Count: 542 Topics Per Day: 0.08 Content Count: 33,043 Content Per Day: 5.05 Reputation: 23,856 Days Won: 237 Joined: 06/21/2006 Status: Offline Birthday: 02/23/1953 Share Posted July 29, 2010 is that with or without the use of a gun ???? Link to comment Share on other sites More sharing options...
MorningGlory Posted July 30, 2010 Group: Royal Member Followers: 0 Topic Count: 1,022 Topics Per Day: 0.16 Content Count: 39,193 Content Per Day: 6.09 Reputation: 9,977 Days Won: 78 Joined: 10/01/2006 Status: Offline Share Posted July 30, 2010 is that with or without the use of a gun ???? Link to comment Share on other sites More sharing options...
georgedrw81 Posted July 30, 2010 Group: Royal Member Followers: 0 Topic Count: 7 Topics Per Day: 0.00 Content Count: 1,823 Content Per Day: 0.33 Reputation: 36 Days Won: 2 Joined: 04/10/2009 Status: Offline Share Posted July 30, 2010 Close it down. It is not worth the problems it creats to yourself and your family. You can allways re-start one in the future. Blessings Link to comment Share on other sites More sharing options...
Recommended Posts