Curious if anyone has attempted to reboot a business that had a very public collapse? I shut down my event company (marathons and shorter runs) and there were about 1000 people that didn't get refunds. The market in general was shrinking and my personal life drama combined for a nice financial collapse. I owned the business for 8 years and built it to the 1nd biggest run company in the state. The collapse was covered by the 4 main TV news stations as well as the main newspaper which kindly passed on the story to AP which passed it on to a few other papers. Anyhow I did quite well at it, but will need to obviously be creative with starting a new company in a field I took a major black eye in. Anyone else tried restarting a company in a sector they publicly failed in?
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Feel free to reply to any comment by clicking the "Reply" button.Change location, get a business partner and use their name as the primary point of contact, and, of course, use a completely new business name.
I can't imagine you will get good press if you go it alone in the same area....there are already 1000 people rooting for you to fail.....
SkotlandSkye
Level 8
Oct 25, 2018
0
Actually talked to a couple potential partners last week for doing exactly that. One was kind of my right hand assistant and the other is a well known customer. Of the 1000 people I probably only got about 30 complaints. Had a lot of goodwill built up and many of those told me they assumed there was more too it than just what the media covered.
So I've been thinking more about this and I may just settle for a bankruptcy and forming a new race company and hiring a couple new event directors to be the face of the company. I have heard from enough people that it seems even with sort of screwing over my last 1000 customers at least 90% of my customer base understood what happened.
What I'm running into is that so much of our country is based on fear and that spills over into business. I'm not sure I'll find someone in a business partner roll that is going to be any more than a face for the company while I'm still doing most of the work. If that is the case I would rather have a few more skeptical customers and 100% of the business.
@FluffyBunny a fresh out of college "event director" looking to add to their resume may be the answer....getting them cheap! Or, alternatively, a long-time workforce member who was downsized and is now chronically underemployed may relish the opportunity and also be willing to work on a sliding scale as the business grows.
You didn't lose the skill set when you lost the company, take it someplace else that needs those skills more than where you were. That's what I did when the hotel construction industry was in a slump in Canada, I moved to the Caribbean where it was booming and they were paying premium dollars for the same skills they were trying to pay peanuts for in Canada. No winter in the Caribbean either. 
Surfpirate
Level 9
Oct 16, 2018
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