2006-08-14 18:58:12 · 11 answers · asked by "baby" 1 in Business & Finance ➔ Other - Business & Finance
Why would you throw in the towel? Things rarely go right the first time or second or third...ask Thomas Edison.
Change your strategy and try again.
If your business is incorporated, you just dissolve it, no big deal.
2006-08-14 19:01:12 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Well first of all you have to figure out WHY ???
Are you in the negative or did you just not do as well as you wanted to ?
Before giving up your business once and for all, you should try to be more cost effective ! CUT COSTS as much as you can ,
cut over head costs, reduce labor costs, try to look for cheaper suppliers that can give you a better deal .... ETC
Take some of the money you saved by cutting costs and invest it in very basic marketing strategies .... BASIC AND CHEAP....
DO you have debt ? try to consolidate that in lower % credit cards or take advantage of 0 % balance transfers ... even though it might only be for up to 7 months on some o the cards you will be amazed what different it makes ...
I dont know what kind of business you are in exactly ,so this is kind o vague, but basically MAKE sure you getback to Basics and eliminate as much of the costs as possible .....
Hence you have a chance to be more profitable and who knows maybe even keep your business ... :)
If you really have to let it go however , i suggest leasing or selling it ... either way ;)
2006-08-14 20:31:19 · answer #2 · answered by Armenianchick1978 2 · 0⤊ 0⤋
Are you the sole proprietor?
sit down with management and see what the problems are...It could be somethings wrong with the books, so things look like there bad. small business's sometimes have corrupt managers who steal.
If you have the money and are willing to give it one last shot, go for it, but if your not willing to lose it get out.
2006-08-15 01:11:01 · answer #3 · answered by christopherjruiz07 2 · 0⤊ 0⤋
Please study why your business didn't make a good profit, try to improve the weaknesses if you can, otherwise sell your business strategically so at least you can recover your loss. Ask help from a good broker if necessary.
2006-08-14 19:05:46 · answer #4 · answered by sastra 3 · 0⤊ 0⤋
Sell the business...if you can't find someone to buy you out...then bankruptcy I suppose. It seems to be the latest trend in business. *shrug*
2006-08-14 19:01:07 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Declare your business bankrupt.
2006-08-14 19:00:34 · answer #6 · answered by Anonymous · 0⤊ 0⤋
find some partners that have new ideas or find some buyer willing to try your business
2006-08-14 19:02:19 · answer #7 · answered by Hoa N 6 · 0⤊ 0⤋
Try and revive the business and if it starts to sink abandon ship. ;-)
2006-08-14 21:55:06 · answer #8 · answered by fistfull-of-$ 3 · 0⤊ 0⤋
There isn't sorry I tried that serval times myself and all failed
2006-08-14 19:01:09 · answer #9 · answered by Paul G 5 · 0⤊ 0⤋
what kind of business?
What is your inventory?
Are you the sole proprietor?
2006-08-14 19:05:43 · answer #10 · answered by evangelionDude 3 · 0⤊ 0⤋