I love your chair spin! Wow, I guess that's not food for kids!

It's becoming more apparent to me that when a company announces bankrupsty it means they are 1. out of channels to making money to repay their debts. This means they have to diversify into areas they were never been before but are seeing that others are succeeding at. For instance an automobile company in making heavy duty trucks has seen a massive slowing down of sales in their trucks so they go into farming to increase the demand for products to be transported. Now the automobile may deside to start making tractors instead of trucks for a while they reinvest in equipments that helps them make tractors and probably inventing better trucks that can be converted into tractors. On making tractors for farms they give farmers the tractors the farmers in return give them produce derived from their farms, and the automobile maker opens shops to resell the gotten farmers produce or ship the produce of farmers to resellers all over the world if the demands come. Ok this could be quite confusing. The bottom line here is when one avenue of your business is drying up you have to adopt other ways/channels for making money. For example you can't say that your salary gotten from a 9-5job will be enough to pay your house rent, your feeding, clothing and then in addition your now growing family, you now have a wife and a child to cater for. Your mentality will switch from having a 9-5 job to also taking a side huddle for a second job in cleaning houses even if you are a nurse. There are men today who when they had money said womens place is in the kitchen but when they now have families change their minds to opening restaurants for their wives to work in and bring an income. For many business owners who looked down on certain industries have found themselves having to entre and compete in them. Just like a man who once eat from golden plates sells it and now not just uses plastic plates but even makes plastics for sale. What helps in finding new channel is when you watch the market for new things that are coming out. Even if they don't have much following are potentials for new turn overs within you industries and others. 2. No suppliers to acheive their business goals. For instance you are into making printed news papers and all of a sudden a textile company opens up that presumably has nothing to do with you but one component like black ink that you use to print the stories of your newspaper is gone from the market because the textile company is ordering it all and even importing more because the stock/capacity of the local market can't meet up to their demands. Are you as a newsprinter going to shut down your operations because you have no black ink or are you going to start making your pages colourful with the abundant coloured ink that is wasting away and would even be cheeper for you to use? A factory that used to make printing machines have shut down operations because printing is almost not needed any more due to the discovery of the internet, so newspaper and magazines are going out of business because they can't find spare parts to fix their most important tool in operations. Are you now going to say that you wouldn't utilise the internet to deliver news because you want to keep doing the same old thing?😩 Tech is enhanced and it is changing the supply and demand. For heavens sake even nature by the findings of people in this industry is said to be changing its pattern. You are a farmer and there is little to no supply of water to your land what you wouldn't dig a hole and find water? Or you wouldn't create pipes to get water from the oceans, convert it to drinkable water and supply it to your land? No supply any more doesn't mean you shut down, it means you rework your previous mode of doing business into a new way, no matter how much it costs get that component changed. No trained experts in their field to sustain the market demand. Loads of businesses are stagnant because they can't find experts. Why is the business world so distant from the institution's where these experts are to be trained? Why is the business world so inactive in the educational industry? Ok if you don't have the time to address the institution's to have staff that can handle what you do, tale an example in what Elon Musk said he wants to do, by opening his own college so that they can handle the demands of the businesses he is investing his hands in. Have a strong training policy within to rework and rewire the minds of people to start handling the business diversification. An accountant can become an engineer with some training if you wish to delve deep into what engineering really means. Doctors working full time jobs are opening businesses in farming, it may be a hobby at start but he is reaching outside his core competence. You can't say a hunter can't be a fisher man with a few months of practice, who knows with his hunting background and mentality he will go after bigger fish than dwell on the lobsters in the deep. To many competitors doing better than they are, meaning the bankcrupt company doesn't plan ahead on how to make their delivery superior. There was a woman who owned a hotel and right a kilometre away another one opens up. The building looks the same with a little differences in the colour of schemes used to decorate the exterior. She goes to investigate deeper by looking at what interiors her competition has and there seems to be nothing different from hers to feel intimidated by. But what the problem is, is the staff training that keeps the customer coming. There is no doubt in my mind that customers are always trying new places before they settle with one, it's like when you enter a shop you would like to try a couple of suits to see which fits you better. There are some hotels that are located in very busy areas, ok that's convenient for business people but tourists are often looking for secluded areas where no noise penetrates. The busy area hotel could improve by having noise isolation. That's enhancing your customer experience. You could have such interior design that your clients would like to buy things off your walls and you replace the bought items with new. kzfaq.info/get/bejne/fr2il5ifrrrXhYk.html Going by this video the first advice is to cut expences. If you invested in opening a restaurant for billionaires you may have to rethink it. Turn your restaurant into a groceries shop because that will give you daily cash, and they say cash is king. This is a form of cutting down your expences. There is a restauranture chef in Dubai well known for making stake's (meat covered in gold) no one but the rich would try it. He may deside to remain in the business but that's cos he has earned his money from doing small jobs or secretly being a cattle ranch holders son you may not know. Why people go into business isn't why you went into business. You may have gone into it for making money but another who is already rich goes into it for pleasure. 1. Cutting costs implies you reassess your strengths against the weaknesses you have. The strength could be that you know how to cook chicken but because your market wants cakes you are on a weak side because you didn't check the environment before you ventured in. If you open a posher restaurant where students are you may find out that a fast food restaurants will take all your clients away. Students don't have the money to sit around in a grand hall sipping on wine no matter how much you want it. Today in Nigeria we have heard that banks have shut down branches and closed down ATMs, they are cutting their costs. Even banks have to shrink back and innovate their operations. They are going online as the market becomes more educated and sofisticated with software and telecoms aiding them. You can ne those who need it for petty trade. Very soon market women will start using POS to receive payments from buyers and farmers having bank accounts instead of using cash. Some times cutting costs would mean you reinvestuseqwfeeqwfng certain materials that come cheaper which weren't available. Instead of buying chicken for your restaurant menu you now buy pigeons that are cheaper and in abundance that you can even slash your price just to have clients buy more. 2. Increase sales. If I am a bottle water maker instead of just making bottle water, I will add some money by taking a loan to buy equipment to make sachet water. The cost One bottle of water for NGN100, that's half a bag of sachet water. With price increase today people will stop buying bottled water and the sales of sachet water producers will increase, this means that those who are making sachet water will have competitors in the market to fulfill the market need. Increasing sales for water makers meaning they will adopt the coca cola style of delivering directly to resellers their produce. Meaning those women who are selling by the road side will be receiving orders directly where they are and they don't need to go to the manufacturers ground. It's like a farmer now buying a truck to not just bring their fruits and vegetables to the main market but packaging their products and delivering it to who ever wants to sell. I wonder why Coca Cola's doesn't make water in tin cans but in plastic? With the global waste problem using recyclable products makes more sense, for instance I make it a principle not to buy Coke in plastic bottles but in glass bottles. What was the effect on business done on the climate when only glass was used? Maybe Coca-Cola company would go into making bottles out of calabash products? You never know what will profit another market. Sales also implies opening new frontiers or reviving old standards like using bamboo instead of wood to make furniture. Bamboo grows faster than trees and is also durable only need is to learn new techniques.

Thank You

Great information, do you offer legal services?

Really i seen many file and keep there companie

So can they go after you even if it was a llc

Thanks catogrants com ,they credited our bank account with 50k for our organization