Do You Have Plan B For Your Business

[Mika]

Plan A means starting a business and running it. Plan B means if your business does not go according to plan A, you have plan B to execute. When a business does not succeed, you will have to do a lot of things from shutting down your business, selling your business, inviting new partners, liquidating business, etc. Your plan B includes your possible methods to work in case your business does not go as you planned. Are you running a business, do you have a plan B for your business, what is your plan B? My plan is selling my business to another person

 

[Spencer]

I don't have much of a plan B and people that have plan Bs mostly fail and hold onto their plan B because from their kind of calculation their plan A Isn't worth much, ask yourself if you are starting a business why would it fail, get that part checked, if it's because of funding find a cheaper business to start, or create a business plan according to your budget, cross your t's well and you'll find out that business failure is mostly self orchestrated.

Its also a bad mindset to start with thinking what if your business fail, I wouldn't fund such business owner if I'm an investor.