Skip to main content

The Unthinkable… What If You Go Out Of Business?

I thought about this blog post for a long time.  I’m a strong believer that it’s a business person’s attitude that goes a long way towards being successful.  My entire life’s work is about helping CEOs, presidents and business owners become MORE successful. Not less successful. But every once in a while, because of overwhelming conditions people can have the misfortune of going out of business.

This is a devastating experience that I would hope no one has to face but it does happen.

  • If you realize your business just isn’t going to make it is consult with your attorney and CPA/accountant to get all the necessary information and understand exactly what course of action you will need to take.
  • Formulate a personal survival plan as to how you are going to keep yourself and the family fed and housed while going through this life changing event.  This is the time when you will find out exactly who your friends are.  Most people you know, personally and in business, will scatter and they will not be there for you.

In the wake of losing your business, as you put together a plan for survival, you must think about how you are going to provide the necessary income in the months ahead.  Don’t look to others or the government to help you because most of the time the help isn’t there and it’s just wasted energy hoping and wishing.  You need to be proactive to move your personal and business life forward.

There are two points that I would like to emphasize in this type of business situation:

  • The first point is:  If your business must close, for whatever the reason, all is not lost.  You take with you years of experience and understanding.  You may feel depressed.  You may feel down and out.  But it’s not over.  You’ll work your way through the survival process.  Clear away the old debts and old problems whether by bankruptcy or by paying off the debt.  Although you will promise yourself never to put yourself through this again and never go into business again, it’s only a matter of time before you are back in business and back on top.  If you are a business person, it’s who you are.  It’s how you think.  You’ll find the lure of being in business too irresistible to not do it again.  Besides you can’t imagine working for someone else when it’s all said and done.
  • The second point is:  Do everything you can to get your business back on track if your business is not profitable or breaking even so you don’t have to experience the devastation that going broke and losing your business dreams creates.


Business expert and strategist, Howard Lewinter, guides – focuses – advises CEOs, presidents and business owners throughout the United States to MORE success – MORE profit – less stress. Business problems? Business issues? Get MORE from your business! Talk business with Howard: 888-738-1855.

Want More Success And More Profit In Your Business?
Sign Up For Free Business Tips And Strategies from Howard.

Your privacy is respected. Will never sell, rent, trade or share your email or information.