first year broke even, second year income increasing but can barely make it. credit shot and no capitol, no more savings. just got a super nationally renowned accountant who says to wait a few months, then we'll decide to sell or not. he wants me to expand. yet i'm broke and can barely pay the bills. have a buyer now. business has huge potential if done right financially. sell now or keep it?
2006-09-10 08:01:29 · 9 answers · asked by pete cochino 3 in Business & Finance ➔ Small Business
didn't you do a cashflow projection and business plan before you enter this business?? you have to find out what went wrong before deciding to keep or sell.
2006-09-10 10:20:40 · answer #1 · answered by Peter_F 3 · 0⤊ 0⤋
Sell out. With the money, start something different or similar.
This might be a one-time opportunity.
You can always start another business on a smaller scale with less capital and then slowly expand. That's what I would do, anyhow.
2006-09-10 15:06:05 · answer #2 · answered by Anonymous · 0⤊ 0⤋
The first 5 years are the hardest. If you see the potential in your company, keep it - get a small bussiness loan to keep the doors open; however, if you aren't sure what to do to survive the tough times and it's becoming a stressor, Sell!
2006-09-10 15:08:24 · answer #3 · answered by Tissa 2 · 0⤊ 0⤋
sell
2006-09-10 15:04:08 · answer #4 · answered by mynameissecret 1 · 0⤊ 0⤋
hi Pete!
If you are so financially straspped, sell. Peace of mind is more important.
2006-09-10 15:04:30 · answer #5 · answered by -------- 7 · 0⤊ 0⤋
sell sell sell
2006-09-10 15:04:32 · answer #6 · answered by Cap'n Donna 7 · 0⤊ 0⤋
sell it
2006-09-10 15:04:31 · answer #7 · answered by Neil G 6 · 0⤊ 0⤋
Given the chance, I would bail!!
2006-09-10 15:06:58 · answer #8 · answered by Anonymous · 0⤊ 0⤋
keep or sell or keep or sell..
hm.
seep!
2006-09-10 15:07:22 · answer #9 · answered by Anonymous · 0⤊ 0⤋