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Real entrepreneurs’ stories of small business struggle

By Samantha Garner | July 12, 2014

closing a businessA couple of years ago, we wrote about when it was time to throw in the towel and exit your small business. It’s a reality for many entrepreneurs – no business lasts forever, and many close within a few years.

Of course, here at GoForth Institute, we want to give small business owners all the tools they’ll need to succeed in entrepreneurship, but we also know that the end of a business is a part of every entrepreneurial life cycle.

That’s why we were interested to read an article in Entrepreneur this week, Is it Time to Give In? How to Know for Sure. Here’s an excerpt:

“I really started noticing my judgment became very clouded, and I wasn’t open to people’s ideas,” says the chairman of Camping World and host of CNBC’s The Profit. “I was so caught up in my own world I couldn’t even see new ideas.”

Have a look at the article – we think it’s important for all entrepreneurs to recognize the signs of a small business in crisis, and what can be done about it.

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Topics: Small Business Tips and Advice | 2 Comments »

2 Responses to “Real entrepreneurs’ stories of small business struggle”

  1. Enviro Equipment, Inc. Says:
    July 13th, 2014 at 12:18 pm

    I suppose it’s easier for people running a business for a year or so old can go home, but for those of us in business for decades, you might as well ask us to give up one of our children then to coldly determined that a business is no longer viable and should be shut down. Is it no wonder most of us only to so kicking and screaming when the debt is so large as to make operating impossible

  2. Samantha Garner Says:
    July 13th, 2014 at 1:41 pm

    Shutting down a business is often a very difficult decision. That’s a big reason why we encourage small business education – there’s less of a risk of sudden crisis for businesses of all ages!

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