What if the business that you started is no longer working out?

[Stardom22]

I have a cousin brother that had started out the butchery business in one of the suburbs in my country. However the business started loosing out customers gradually since last three months. That was likely due to the stiff competition that had emerged. What is likely to be the possible solution to go about that?

 

[eLdavis]

In a situation like this, you have to look for ways to build back the business. Find out what you competition are doing and look for ways to compete with ths. If it means rebranding the business as a whole.

 

[Springtime]

I do not own a business. If my business is not working out after making hard efforts to save it, I'll close it and find a job to earn some money before thinking of starting another business.

 

[Trush Jodie]

You have to find out why the business is no longer working out. If it worked out at a particular point, then the fault is from management.

 

[neku]

In some cases, the number of investors has greatly reduced due to corruption and other factors, If a business cannot handle the losses due to corruption it may be better to shut down.

 

[King Belieal]

I know a lot of people here would say give up and move on. My business failed twice and I never gave up and I am grateful for that decision not to give up today.

 

[magnus2022]

I have a cousin brother that had started out the butchery business in one of the suburbs in my country. However the business started loosing out customers gradually since last three months. That was likely due to the stiff competition that had emerged. What is likely to be the possible solution to go about that?

Relocation may be the only way out if the competition is too high. Secondly, he have to do business survey and see if the competitors are selling cheaper producer or adding extra value..

 

[Starmix]

Your cousin should transfer to a new location where there are fewer butchers to compete with. He can also advertise his butchery business online to have orders from his friends.