Tuesday, July 5, 2011

closing shop

it's been exactly three years since i started this enterprise experiment. out of a whim, i invested in this. with nary an experience in running a business of this size. it was good, very good for the first two years. because of this, i was able to generate additional revenues to fund the construction of the house.

then things started going south. first it was the protracted construction of the road in front. customers started shying away. then the perpetual challenge of attracting and keeping personnel. especially cooks and help.

then finally, when the road was done, competitors started mushrooming all over the place. they sell at lower price points that i cannot match.

a perfect storm for the nano-enterprise.

pc asked me, what's the MBA solution to this? that question put me in the defensive. yes, with my MBA with honors, with my track record in my industry, yet i can't solve the problem of this itsy-bitsy teeny weeny little enterprise!

but it was an honest question that deserved an honest answer.

i would have to review the revenue-generation first and foremost. study how to bring those customers back in. and that might mean lowering the price points. and do grassroots promotions like flyers, consumer promos. then look at my cost structure and try to maximize that. pump in more capital to 'renovate' and attract attention again.

a lot i could still do. and that meant a lot of effort. which is the bottomline of it. i do not have time (and admittedly, the patience) to turn things around. just too much effort. and with so much on my lap in my day job, i just can't bring myself to exert all that effort.

there will be displacement of the employees. and that is what i still have to think about. i just cannot 'let them go' without thinking of where they will go. i will have to pray about that.

so i will be winding down this month, taking inventories and pulling out. it was good, very good while it lasted. and in the process, i got to know many people, a community actually. and that is fulfilling in itself.

time to say goodbye.

- Posted using BlogPress from my iPad


mavey said...

my condolences. i know it can feel like your child.

closet case said...

@mavey and yesterday was its last day. mixed emotions. sad and nostalgic. but also relieved.