What Is The First Thing To Do After Failing In Business?

[Sannah]

i think that it happened almost to every entrepreneur that he didn't had success when he started his business. But a smart entrepreneur knows, that it is through mistakes that the greatest learning happens. And for sure that he will not commit the same mistake again.

 

[Suba]

If you fail in your business, the first thing you need to do is don't give up, stay strong mentally. be open-minded and patient, accept failure as a lesson. Do an evaluation, the cause of failure, is it the result of an inadequate plan, errors in managing finances, have you made a list of performance well, whether the product is of poor quality, marketing factors are not optimal, your product price is too expensive, If you need support to lift your spirits , can come from your family, close friends, girlfriend or you can also join the entrepreneurial community in your city/country, so you will gain new knowledge and skills. After you can pass the above phase you need to also check your finances whether you have enough funds to start rebuilding a previous business or building a new business. After all the stages above have been passed, now is the time to start looking for new business opportunities. You can repeat previous efforts and correct the mistakes that have been made, you can also look for a completely new business model. Make a careful and detailed plan, be confident and pray.