Recovering from the Loss of a Business: Recovery, Reversal, andCoping Strategies

The loss of a business is global, like the "death" of a lovedone. Both personality of an entrepreneur and difficult workhave went to a business, that when tragedy strikes, the reason forwhatever and the company is forced to declare bankruptcy or toclose, the emotions experienced by the business owner are nothing serious shortof and comprehensive! Since the loss of a Business is considered a stress factor, "life important," along with divorce and the death of a loved one, a businessowner who loses a business can be just as emotionallydevastated.



In this perspective, it is desirable that the owner thebusiness to consider the five stages of griefthat occur in a big life event or "stressful." These stages according to the work of the famous Swiss born psychiatrist Dr. Elisabeth Kubler-Ross: 1. Negation. This stage is a stage when the sound individualasks the question: "Why me?", And develop strategies to developdefenses against stress.2 imminent. Anger or resentment. Fault occurs in this stage.3. Bargaining. This is a period of "truce" in which a individualmakes "offers" in their minds, if "only" things do not carry outthe so they have to do so.



4. Depression. This is the stage of real pain, and especially individualwill feel discouraged and hopeless.5. Acceptance. This is the reality in which it is treated and theprocess of "going on" begins. Withdrawal from others may occurtemporarily here.Although Dr. Kubler-Ross developed the five stages Tobe used primarily when dealing with terminal illnesses that lead to death, his work can be easily applied to many more major life stresses, including the loss of a business. Also, do not go through every stage allindividuals routine in order, with stops someskipping, or staying in one stage than others.



Business owners who suffer a catastrophic loss businessneed to allow them the flexibility and time foracceptance that other stress factors major life require. They need towork through five stages until the fifth stage, acceptance is achieved. They also need to put the loss in perspective ifthey can, and only determine "why" and "how" to defeat the businessfaltered and end failed.With, sometimes knowledge is attained, and if a businessowner can work through the stages of grief successfully, and usethe knowledge attained enlightenment, so maybe cansuccessfully start another business in the future, and achievebetter owners results.



Business should make a list after they have been feetagain exactly "what" went wrong, and inThe future methods of prevention, since it can then use this to their advantage. Thelist may include information such as: 1. Because the company has global business that was the kind of wrong for the wrong type of clientele? Was targetedincorrectly? Was too unusual to be successful? It was the work of marketing is not correct? Costs were too great? Thebusiness plan was flawed and Outlook or realistic? 2.



What mistakes led to failure: has the corporate growtoo quickly or too slowly? There were effective methods in preventing placefor, or was the business "reactive" rather than "proactive"? 3. What can the contractor correct / correct in the future? This is the most important question, and a list of all methodsthat can be used as a measure against future failures should bemade.Business owners need to give them time to heal and sortthrough their feelings, though. Any loss is so emotionallydraining, that jumping right back into the fire "business" withanother is not necessarily a good idea until the owner thebusiness recovered their energy and worked throughtheir feelings of completely.



Defeat pain can be an experience of learning, and many people successfulbusiness have also experienced their fair ofdefeats and loss of business. Turning the negative "in theloss business willsoon in a" positive "learning experience to find the owner and the business recovered nextpositive transition to phase in their business life!