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Wealthy Way

How to Recover From Significant Financial Losses in Business

Wealthy Way

Ryan Pineda

Business, Entrepreneurship

4.82.1K Ratings

🗓️ 17 March 2025

⏱️ 33 minutes

🧾️ Download transcript

Summary

Every entrepreneur hits rough patches, so what do you do when your business is failing? In this episode, I break down the exact steps to stop the bleeding and get back on track. We’re talking about cutting unnecessary expenses, renegotiating debts, and, most importantly, selling your way out of the problem. But here’s the thing, most businesses don’t fail because the idea is bad. They fail because the owner didn’t adapt fast enough. Maybe you’re spreading yourself too thin across multiple ma...

Transcript

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0:00.0

I've had many business failures over the years.

0:02.0

Some have resulted in millions of dollars lost, lawsuits, bad press.

0:06.4

You name it, I have failed at it.

0:08.4

And even my most successful businesses have come very close to failing.

0:12.0

And so if you are in that position right now, your business is headed in the wrong direction.

0:15.7

You might be at the brink of failure.

0:17.6

I'm going to show you how you can turn it around and what steps you need to

0:21.1

take right now today. First off, let's define what failure actually is. For most people, it would be

0:26.6

if a business is currently losing money, but that's not failure for a lot of other people. There

0:31.4

are certain startups where they know they're going to lose money and they're okay with it. There are

0:35.4

certain businesses that are profitable, but they're

0:37.6

considered a failure because they didn't grow to where they needed to go and they just weren't

0:41.7

worth doing anymore. Now, before we jump into the steps, we got to first define what failure

0:45.8

actually is because failures are relative term for different people. For example, if somebody

0:51.4

is just starting out in business, failure to them could be not selling a client.

0:56.1

Man, they just never really got it off the ground.

0:58.5

For another person, they could be in business for years and it's just not growing, or now it's starting to lose money and they don't really know what to do.

1:06.0

They could be headed for bankruptcy.

1:07.5

They could be headed for shutting down the business.

1:09.6

And therefore, it's now on the brink of failing. For others, they might have not made money for bankruptcy. They could be headed for shutting down the business, and therefore it's now on the

1:10.9

brink of failing. For others, they might have not made money for years, but they're having success.

1:16.4

You see this with startups and tech companies where they know they're not going to be profitable.

...

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