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1. I have recently started my own small business after being very successful in my earlier jobs. I am really good at doing what I am doing at the moment, but somehow the business has not taken off. I am losing money daily. I already have loads of debts on my head. I am done taking loans from my parents. I lost all the customers who promised to support me when I was in job doing the same thing for them that I am doing right now – and I am doing a much better work now. I am unable to find where the problem lies with my business. Please help me with your suggestions. Any suggestion/ideas are more than welcome. I have tried whatever I thought was required and still there is no development or growth, so I am willing to listen and try new ideas from other people. Any ideas????
I think you just started your business at the wrong time – in tough recession times. Fortunately you are based in US where small businesses get a lot of help…. You should maybe try to google with keywords such as “small business help”. You could try visiting www.score.org . I am not sure if it would be of help to you, but I am a strong believer in spiritualism and I don’t start anything without consulting my spiritual guru. Again, you could do a search online, but there is no guarantee of genuine source. Lately, I have been hearing a lot of good stories about a new spiritual center called Spiritual Vidya. Maybe, you should check them out too… I heard that it is maintained by highly educated and spiritually acknowledged people. Check out their website www.spiritualvidya.com . P.S. – do let me know your experiences; maybe I will also consider them
Save My Business
All for charitable private businesses saving others. If they are even considered worthy of being saved by another company they will probably try to because they know it can be profitable. The market punishes bad decisions and rewards good decisions. If a company thinks another company can make money and deserves a second chance go for it. When politics becomes involved businesses that make bad decisions are bailed out at the taxpayers expense just to continue bad decisions.
SCORE - the Service Corp of Retired Executives "Counselors to America's Small Business" is a nonprofit association dedicated to educating entrepreneurs and the formation, growth and success of small business nationwide. SCORE is a resource partner with the U.S. Small Business Administration (SBA). SCORE is headquartered in Herndon, pennsylvania and Washington, pennsylvania and has 370 chapters throughout the United States and its territories, with 11,200 volunteers nationwide. Both working and retired executives and business owners donate time and expertise as business counselors. SCORE was founded in 1964. We are America's premier source of free and confidential small business advice for entrepreneurs. Get biz advice today. SCORE Can Help You Mentoring advice 24/7 Ask SCORE online. In Person Mentoring 370 offices. Find an office. Low-cost workshops nationwide. Find an office. "How to" articles and business templates. Online workshops and learning.
There could be one reason, multiple reasons, or a combination: 1. You don't have enough sales/revenue to cover your fixed costs. The solution is to get more customers and sales volume. 2. You may not be calculating your costs correctly and therefore you may not be charging enough for your product/service. Consider raising your prices and figuring out all the costs involved. 3. Your costs may be too high. Eliminate everything that is not essential and try to reduce costs of the essential items by shopping around.
I know what you did wrong – left a good going job and started your own business in such a bad market??? That’s what’s wrong with your business. You should have continued doing what you were doing so well…. Why to start your own business?? You should have waited for the economy to improve.
Hi Desi. Have you contacted the lost customers and asked them WHY you lost them? The answer to your question lies with them. Best wishes and good luck.
Well I think we will need some more information such as what your bussiness is, where products are sold (shop, building), time the business has been around.
One wise person told me that to be successful in life, always use power of two things: 1. your own brain power 2. spiritual power Using less of any one power will make you a loser...the maximum you make use of both powers, the more success you will attain. Don't listen to anyone. Have believe in yourself & break all the boundaries! someone mentioned about spiritualvidya.com ....its definitely a genuine source......many of my acquaintances have been to them & they are impressed with their quality and honesty. luv thier website!!
Call the sba there is a group of volunteer retired business people who help with this.