EP29: Closing An Area of Your Business: Insights for Entrepreneurs to Bounce Back Stronger
Whether it’s a product that’s not working, or a facet of your business that just didn’t catch on, or an outright need to shut your business down, there’s no shame in having to let something go when you’ve done all you can do to make it work. So many entrepreneurs facing the demise or change of some area of their business find themselves trapped in a cycle of negative emotions, unable to see a way out. Despite your best efforts, the desired outcome may continue to elude you, leaving you feeling defeated and questioning your abilities as an entrepreneur.
Toa Green underscores the importance of distinguishing personal value from the success or failure of your business endeavors. This differentiation prevents self-worth from becoming entangled with business outcomes, allowing for a healthier entrepreneurial journey. Tao's insights provide a valuable perspective for entrepreneurs to cultivate resilience and personal growth, critical attributes for navigating setbacks in the business landscape, and keys to coming back stronger.
In this episode, you’ll learn to:
Delve into emotional intelligence strategies for coping with the hard decision of shutting down or changing a business aspect.
Separate your self-esteem from the inevitable highs and lows of a business, reinforcing inner stability for yourself.
Explore how aligning business strategies with your individual aspirations and principles ensures a satisfying entrepreneurial journey.
Develop a communication plan to alert your community and stakeholders of a shuttering or change in your business.
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Resources Mentioned in Episode
Subscribe to the Crank & Boom substack for deeper insights and behind the scenes looks: https://crankandboom.substack.com/subscribe
Learn more about Taiyaki Fish Ice Cream Cones
Learn about the famed ice cream dessert at Rupp Arena
Quotable Moments From the Episode
“Once you've gotten to the other side and you've seen that either letting go or closing a business is going to be better for your life or your family or your business overall, then you'll know that you've made the right decision.” - Toa Green
“Your success or your failures are not tied to your self-worth. Just because something in your business does not work out doesn't mean that something is wrong with you." - Toa Green
Connect with Toa!
C&B Podcast website
*Production by Four Eyes Media*