As a small business owner, you know things don’t always go according to plan. Setbacks are bound to happen. It’s the nature of a growing business that’s reaching for its next goal or milestone.
It can be difficult to make decisions without knowing your outcome. Where should you put your dollars? How do you measure success? How do you prepare for the outcome, good or bad?
We interviewed small business owners (across industries and areas of expertise) to ask about business initiatives that went awry. In the below infographic, they share candid responses to what went wrong and what they learned that could help other business owners.
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Realizing that your small business initiative didn’t work out can be tough to swallow. However, pivoting is simply part of the entrepreneurial journey. Once you’ve decided that a pivot is the right move for your small business, be bold. Focus on what your business does best, be honest with your team and think about your next opportunity. With effort and determination, you might just join the businesses that have pivoted to get to the top.
Sources: Bench | CareerBuilder | Chron | Clutch | MarketWatch | SBA
