When should you give up?

[japancool]

You suggest you need investment to get a better structure and fix all the current issues. I don't know what other issues you are experiencing, but have you worked out how you're going to fix them? And how you intend to restructure? The worst thing you could do is get finance without a concrete plan.

One of the key questions is the part underlined above. Have you worked this out?

 

[mantftf]

Good Morning All,

Everyone who has messaged me and offered kind words. I have been in the hospital and am currently in the care of the crisis team.

I will contact you / people who have offered to help and discuss my issues.

Thank you

 

[mantftf]

Dear Pentel,

We have done the cash flow, but in the last 30 days, the sales have completely stopped - we moved over from Platform B to Platform A (Shopify to Opencart), and since the switch, sales have disappeared. The SEO company blames the Opencart company - The Shopify company could not care, and I am left to pick up the pieces.

 

[japancool]

Who did the move?

 

[mantftf]

Who did the move?

The sales have dropped by 98% in the last four weeks as I mentioned. I thought about calling it a day and perhaps speak to some like minded people here who won't judge you and have unbiased opinion.

I am also working on raising funds as the business in its good times did £8m when I had this weird idea of expanding and tried to do too many things and find myself flat on the ground !

Hindsight is 20/20 - and I wish I had never made any those decisions but now I can learn and live and try may be one more time before I finally give up - The thing is you seem to take more and more and get sucked into this deep hole and no matter how much you try, you can't get out.

I am looking for investment and to see if I can revive it to old glory - difficult Yes - Impossible No.

Have a good Evening
M

 

[japancool]

The sales have dropped by 98% in the last four weeks as I mentioned. I thought about calling it a day and perhaps speak to some like minded people here who won't judge you and have unbiased opinion.

That's not what I asked though - I asked who did the move, was it an external company or did you do it yourself?

I am looking for investment and to see if I can revive it to old glory - difficult Yes - Impossible No.

I see a problem here - you're limiting yourself to a single route, and I think you've convinced yourself that this is the only way.

Bear in mind as well - if you have bills or debts due that you can't pay, you may be trading insolvently.

You really need to look at your recovery plan and see if it's viable. It seems quite nebulous from the information you've provided in this thread. It needs to be as watertight as possible with clear goals and knowing how to achieve them.

 

[Paul FilmMaker]

Exactly - as most businesses will have cash flow issues - I am going through the same - the business is profitable and has taken nearly £2m - IF this was not a viable business then I would have found out in the first couple of months -what I do now is the key and sometimes you just can't breathe ...

So it's a first year biz with cashflow issues. Question is 'how profitable?' Are we talking 400 grand profitable or 40 grand profitable?