I have had to drop 3 out of my 13 companies this year. Put 27 people out of work. It hurts, but some others are doing well and i have hired at least 15 new people this year alone. Dont think because things are going well now that it is anything but luck. keep cautious. you might just be on a different point of the business cycle.
The problem on one company is this. Last year sales are at a record...what recession? you go to a show last month and suddenly nobody is taking orders. just dead. all rivals are just twiddling their thumbs. 85% drop across market. Good product already selling to all possible buyers. what do you do?
answer: close down, hide under covers and spend time on rescue package. you can die a death of a thousand cuts and slowly lose say £10k per month for the next year or so, or you still get the £100k and get all soldiers in a row for relaunch when market picks up. anyone who has been through a liquidation knows how much it hurts.(i have nearly hit 10) but par for the course in early stage finance)). but at least you get to start again. Many rivals will still be alive when things pick up. but they probably wont have the money to spend on marketing secondly they will probably have had supply trouble and have a damaged reputation. you will instead be a new company with all the knowlege and none of the baggage.
it hurts to go down, but try to have something left when you do. Yes you can fight like mad but be honest. is there really a chance? Business failure is just that. try not to let it be personal. A business is not for life, it is just a tool to work with.
