Why He Got Hospitalize Because Of Too Much Thinking

posted in: Entrepreneur | 0

Being successful in business really takes time and lot of efforts to achieve while some succeed, there are others who failed.

Sometimes it might be based on luck people are able to be what they are today but that’s just destiny and they didn’t miss out their chances when they got it.

In here we got a story about how an entrepreneur got hospitalize because of too much thinking. It’s not possible to be in business without having the trouble of thinking beyond your limits. It’s just the nature of an entrepreneur.

Starting up a business there are lots of issues and challenges he had to face to be successful in his business, at first he felt he could handle it since it was just the beginning but as he keep getting far there are a lot of things that hinders his way to success.

Thinking up solutions to such problems is his major responsibilities as an entrepreneur but not everything can be solved by him. He had to face a lot of risks and problems just to get to the midpoint of it but things sometimes don’t work out as people planned it to be.

Here are some of the issues he had to face and solved but he couldn’t due to certain circumstances:

 

He had a low fund to operate the business

Funds are generally in form of money so in here he had a low amount of money to operate the business.

In business it is right to believe in the impossible because when it would be possible you will be prepared for it.

When he first started the business with a sum of capital he saved some funds incase he needed it in the future to solve some problems in the business.

That was really a wise decision to make until he was faced with a problem he couldn’t solve with the funds he had both at hand or in bank.

He underestimate the word “business and entrepreneur“.

How?

At first when he started the business he had a lot of money saved to replenish his expenses and as his business continues to grow, his expenses also increased as well which is something he failed to realise at first.

Suddenly, a problem came knocking at his door which only with enough funds he could solve this problem and let it pass him by. He checked out his current funds and his savings, it wasn’t enough to tackle the problem.

So he hope to gain more from his business to solve the current issue but before he could solve the current issue another problem came knocking at his door and before he knows what’s happening he already got a lot of problems waiting right In front of him.

They became a hindrance between him and his business, so he was faced with two choices; either to withdraw or shutdown.

Insufficient resources

Resources are what is necessary to run a business, it all depends on the kind/type of business you operate.

Resources are what he needed to operate his business perfectly and smoothly but due to low funds he had to think twice before making use of his current funds.

Having a low fund limit his access to resources necessary for the operation of his business and because his resources are limited he had to think of ways to make up for that.

At first he thought of borrowing some funds to purchase the resources he needed to operate his business, he had been all prepared to take the risk and courage to borrow some funds then, he got stuck with a thought right at that moment;

“Will I be able to pay it back?”

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Increase in losses of the business

Loss is an unwanted disease in a business whose only cure is profit. Feeling and knowing you are suffering a loss in your business is another way of saying you are losing your business.

Due to being not able fund his business properly and having insufficient resources to run the business, his business started showing negative effects.

The losses started increasing bit by bit and little by little till it got to an extent he knows he couldn’t solve this all by himself.

After thinking of various ways to solve this issue he had no choice but to finally admit he is losing the business.

High spending on advertising his business

Is not possible for customers/people to know your business if you don’t take it up to them. Advertising is creating awareness into the minds of the people about your business.

This comes with its own risk as well; if you ain’t able to advertise your business well then you are losing but if you are able to advertise your business better, then you are one step closer to Success.

Having no option he had to invest some funds into advertising his business to the public.

That was really a great idea until he decided to spend all his savings on advertising his business to the public hoping once his business gets known by the people he could gain back all the money spent, but is it that easy to gain the trust of new customers?

No, it’s not.

Having known this so late, he lost almost all his money trying to advertise his business.

Now he is faced with questions whether he could continue the business or not.

Customers going off

Customers are the sole pillar of every businesses out there, no customer no business. New customers and returning customers is a sign of business being stable and progressing while leaving customers is a sign of business becoming unstable and regressing.

As he focused too much on advertising his business to the public while neglecting to try to keep his old customers, his old customers started leaving one by one.

At first he thought it was a temporal thing that they would come back once he introduced another product to them but to his surprise the number of customers he keep getting kept on reducing.

He asked himself why is all this happening to him.

Now he had to focus on trying to get back his customers but it was already late because one of his competitors already got hold of his customers.

This is all because he focused too much on getting new customers while neglecting the fact that his old customers are more important.

Should he still continue the business? He thought.

No choice! But to close down the business

Finally coming to the point where he had no more funds and resources to continue the business, he had to give up.

He couldn’t find anymore reason why he should continue the business because his loss is far more than his profit, his customers kept on leaving day after day and his expenses kept on rising non stop.

That was all his efforts! He thought.

Is it possible to get back up again? He thought.

How am I going to feed my family now? He thought.

Should I just commit suicide and die? He thought.

Should I……………

Before he knows it he woke up the next day in the hospital.

Business is really a tough profession but is always worth it because only through that can you get your daily meal and feed your family.

If you ain’t ready to take a risk then you are not qualified to call yourself an entrepreneur but before taking a risk, why not judge yourself first and know if it’s worth the risk.

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coming up next: Start with a plan and finish up with a strategy.

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