Coping With the Loss of Your Business - and Turning It Into a New Beginning

Tips to help you find the right direction and move forward

Taking a business from idea to startup, to growth is not only hard work - it also takes you on a roller coaster ride of emotions. After going through this and then deciding to close your business, you’re probably feeling the emotional drain of it all, plus confusion about what comes next. At a time when the path may not be clear, these tips will help you find the right direction to start moving forward.

Start Exploring Ideas

When you feel down about your business closing, the best thing you can do is start exploring new ideas. While some people may return to a previous job, others know that entrepreneurship is what they’re meant to do. Even if you aren’t sure, one of the best things you can do now is to work with a business coach to get guidance on navigating that next chapter.

Opportunities for Entrepreneurship

If you know that entrepreneurship is in your future, but you aren’t sure the form that should take, it may help to know there are opportunities like e-commerce that you can get into with very little capital. Starting this kind of business is great for transition periods in life, especially if your finances took a hit from what you put into your previous business.

Not only is e-commerce an ideal business for someone with limited funds, but it’s also an opportunity that’s easy to start. With just a little research through online e-commerce resources or wikis, you can learn everything you need to know to start strong and stay competitive in the market. They cover topics like the best methods of advertising, how to provide top-notch customer service, and what it means to build your business through growth hacking.

Resources like these search tools are invaluable for breaking into a new industry but don’t make the mistake of thinking you no longer need help once your new business is growing. People are perhaps your best resource, and when you need that extra hand, many small business owners find that hiring freelancers work best. This is a trend that’s on the rise because of how easy it is to post freelance jobs and find qualified professionals through online job boards. These boards can help you find someone to fill just about any role, whether you need administrative support, a web designer, someone who is skilled in sales, or something else entirely.

Take Care of Yourself

It’s common for entrepreneurs to let self-care slide, but doing that is a serious mistake. As you go through the process of moving on, be sure to focus a little more on what you need, then make a plan for continuing this practice. Use this time to start some healthy habits, spend time with loved ones, and implement some relaxation techniques like stretching or massage.

Along with spending fun time with the people who matter most to you, Business News Daily explains why you should lean on your support system, too, including mentors and fellow entrepreneurs. You want to be around people who will lift you up, plus these connections can give you guidance on making the right decisions for your next move.

Last but certainly not least, make sure you take care of daily routines that help promote self-care. For example, don’t let your cleaning routine fall by the wayside. Disorganization and clutter can cause you to experience increased levels of stress, so make sure you take some time to keep your surroundings clean. Clutter can also trap negative energy in your home, which can affect you and everyone else in your household.

Find Your Way Forward

Part of practicing self-care involves healing from the loss of your business. It’s perfectly okay to grieve this loss, to feel all the feelings, and to examine what you could have done differently. In fact, it’s smart to think about what makes a business fail in order to learn and avoid future mistakes. However, as one Medium contributor points out, it’s equally important to give yourself credit for what you have achieved because this can help you move on with a sense of peace.

Even when you know that closing your business is best, it’s a change that’s highly emotional. That’s why self-care and self-exploration are essential to this process. Be sure to continue these good habits, even as you get busier with your new endeavor. That way, you will be more successful in whatever opportunity lies ahead!

For more helpful and informative articles about self-care, health, and wellness, be sure to check out the other incredible posts on ChristalDiamond.

Carla Lopez retired a couple of years ago, but she didn’t lose her entrepreneurial spirit. She created Boomer Biz for retirees like herself who still have a desire to work and achieve. The site is a resource for people in their golden years who want to start their own business or go back to work doing what they love.

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