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Covid-killed your business, what next?.

So we can see that the economy is coming back somewhat at least around the world in May 2021.

But let us not fool ourselves that all is back to normal, it is not.

And as business consultants we have a first row seat to the show and it is not pretty at the moment.

mrlifeadvise

So we can see first hand that even if a lot of smaller shops and restaurants are re-opening again, 35% are not.

Brick and mortar stores might be able to switch online for some of their business.

But lets face it, many brick and mortar stores survived for years due to loyal customers and a good amount of foot trafffic.

Going online also means that you are competing with Amazon and other online retailers, and that is very tough unless you have a superior product for a better price point.

And restaurants and coffee shops can not go online.

empty restaurant
Empty restaurant

So what we hear from many clients that have been forced to close their doors that they are unsure where to go from here

Covid killed your business, what next?.

First of all you will have to deal with the closing of your business and it is for most people like a death in the family.

All the hard work, sweat, tears ,time and money that you put into it, is all gone.

And now you are stuck with a bankruptcy and all the fallout from that.

We are sad to say that most business owners are on the hook personally also for business loans.

Because it has been common practice for over 30 years now that you have to guarantee the business loan personally with your home as equity or otherwise.

This process usually takes up to a year to sort it all out, and then you will know where you stand after that financially.

But this is also then an opportunity to maybe go after your dream job or dream move.

Maybe you have lived in New York all of your life and you have always dreamed about moving to Florida to the sunshine state.

https://statesymbolsusa.org/symbol-official-item/florida/state-nickname/sunshine-state

This can then be that opportunity for a fresh start that you might have always dreamed of.

Florida sunshine
Florida sunshine.

Now we want to make this very clear to our readers, usually there is that 12 month period after you lost your business where you will have to make your move, if you are looking to make that change.

Because there is a lot of research on this topic that says that if you stay in the same place where you lost your business, you will not move for a long time if you stay longer than 12 months after your business closed.

And this is due to you then having found another local job and you have your friends and family and the move will not happen.

Because now you are committed to staying put again, before it was your own business, now it is your new job that keeps you in that old familiar place.

We are not saying that it is a bad thing to stay put and find a new job and move on with your life in that familiar area that you are from.

But after a business has closed its doors usually this is then the perfect time to sit down and take inventory of your life.

What is working for you?, and what is not working for you?.

Changes are always hard to make, but sometimes for your own well being you at least owe it to yourself to give it a try.

Let say you go to Florida for a two year stint and you miss home, you can then always go back.

Never let anybody tell you that you can not go home, or go back.

You can always go back and you should go back if you feel that it is something you want to do.

People are way to often afraid of what other people might think when they turn back home again.

These are usually people who have never left their community or town, so who are they to judge?.

But make sure you give it a real go, if you decide to leave your town or city for greener pastures.

green grass
Green grass

If you try one other city and you do not like it, try one more, and then after 2 years turn back home.

At least you then know that the grass is not always greener on the other side.

As always if you need business consulting for a good price check out our different options in our shop.

See the link here below to our shop.

https://mrlifeadvise.com/shop/

And here you can have a look at our company on Youtube.

So take care out there.

Mrlifeadvise.

It is never too late to learn.
mrlifeadvise

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