Entrepreneur

0 readers

1 users here now

Rules

No Personal Attacks - criticism of ideas is allowed, attacking people is not.
Self Posts Only - links can only provide supplementary material. Your post must contain enough content to have a discussion.
No “How To Get Rich Quick” posts - This community is not about making a quick buck. Posts asking the community how to make $X, without making specific reference to a reasonable idea, are not tolerated.
Avoid unprofessional communication - Please treat fellow entrepreneurs like respected coworkers, label conversations if NSFW and avoid deliberate provocations.

Please feel free to provide evidence-based best practices, share a micro-victory, discuss strategy and concepts with a frame work, ask for feedback, and create professional conversation. Treat every post as if you're at work and representing the best version of yourself.

founded 1 year ago

MODERATORS

communick@indiehackers.space

What was your best business decision? (alien.top)

submitted 1 year ago by dabidoe@alien.top to c/entrepreneur@indiehackers.space

22 comments fedilink hide all child comments

I believe that every business has make or break decisions. Firing, hiring, selling, pivoting can be crucial. Adapt or die as they say.

For me firing and deciding to do the work myself (fix 'n' flipper) hurt short term but paid off huge in the end. For my other business (video production/editing) I'm thinking about hiring for the first time (any suggestions would be welcome.)

What was your best decision for your business?

you are viewing a single comment's thread
view the rest of the comments

[–] Interesting_Tune2042@alien.top 1 points 1 year ago (1 children)

I fired 90% of my team after a disastrous 2 years of only 65% satisfaction rate + lost a tone of money. I was afraid of losing everything if i had fired the 90%. I was a big problem myself too as I was the one who hired them and they were allowed to do as they please because I let them. So one day, I just fired everyone, and decided to move to another location with a better rent and switched up all our structure. It took me around 3 to 6 weeks to process it. after 4 years of that decision, my company is on track for 1 million in sales annually with 300k profit a year for 3 years in a row. so that was the most insane thing I've done....

I still remember the aftermath of the 1st day of letting everyone go..... i was sitting alone in the office and going "what the f have i done", i sold all the items / furnitures and prepare to move to a newer place. Insane heavy loans breathing down my neck, and I just decided I had enough of a toxic environment, and decided to make a change and take responsibility for my mistakes.

So.. for what it's worth.. that's my story lol

[–] dabidoe@alien.top 1 points 1 year ago

....

I still remember the aftermath of the 1st day of letting everyone go..... i was sitting alone in the office and going "what the f have i done", i sold all the items / furnitures and prepare to move to a newer place. Insane heavy loans breathing down my neck, and I just decided I had enough of a toxic environment, and decided to make a change and take responsibility for my mistakes.

Damn that took guts! Congrats glad it worked out well for you