Restructuring Your Business Marketing After an Initial Failure

It’s tough to get a small business up and running. In fact, a majority of small businesses fail. But that doesn’t mean that all hope is gone for you, even after you’ve run into your first failure. In fact, most of the most successful businesses out there aren’t their owner’s first foray into the business world. They could be several down the pipeline from that initial attempt.

Rebuilding and restructuring business

But, you may have to do some fairly radical restructuring with your marketing specifically, if that’s part of what caused the initial issue. And topics to consider when doing that will include dealing with foreclosure and credit repair, resetting social media and branding, still maintaining transparency, writing blog posts about earlier experiences, and making sure you don’t repeat the same mistakes again.

Foreclosure And Credit Repair

Before you work your new marketing angles, you have to take care of old business. And if you had a physical location that foreclosed, or if you really hurt your credit ratings and need help restructuring legally, those are things that need to be considered during your new marketing projects. You may have a tougher time getting investors, and a bad mark on difficulties with loans can hurt your cause as well. But, with a good enough new idea and plan, you can make it work.

Resetting Social Media and Branding

If your last business failed publicly, then you don’t want your old social media accounts and branding structures hanging around. Delete them all and start from scratch, following modern business social media advice and suggestions from successful people in the industry. Every few month, social media options change, as well as opportunities to learn how to engage people. Use that constant transition to your advantage.

Maintain Transparency

Though you might not be enthralled about your last failed business, and indeed even deleted the non-working parts of it, it’s important that you’re at least transparent about the fact that you were a part of that. Transparency means admitting where your failures occurred even as much as it means showcasing your successes.

Write Blog Posts About the Experience

Want to help out your new marketing strategies? Learn to write great blog posts. Make your personal experience in creating this new company part of your narrative. But definitely include the lessons that you learned from your previous attempts in there as well. It will make you seem more human and relatable.

Don’t Repeat Your Mistakes

As great as your last business idea and marketing ploys were, don’t go down the same road again. Tweak your methods. Change your format. Not only do you have a new product, you have a new framework to work with. Don’t let your ego get in the way of creating new and better results your second and third times around.

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