Knowing When To Close Shop And Go On To The Next One

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There are times in business just as in life when you have to know when to close shop and move on to the next one. I’ve recently had to make such a decision and am in the process of making a few more similar to that. If you think long term, it’s not so bad. Honestly, it isn’t. However in the moment it is difficult. You don’t want to let go, you put so much money or time or effort into a project. Now you have to shut it down. This is the case for my first Shopify Store. This was my first crack at e-commerce, and I put a lot into it. And now I’ve shut it down.
 




 

Why I Closed Shop On My First E-Commerce Site

 
First off, let me get into what my first e-commerce site was. It was a fitness apparel shop. I only felt right since I was in the health and fitness industry online, that my first e-commerce site should follow in suit. I was wrong. And actually now I’m thinking the whole health and fitness industry in general, is not for me. We’ll get into that later. First off, I have to close shop because I wasn’t making any sales. It had been three months with no sales. Now, that’s not the main reason I shut it down though. No the main reason was I was looking around and I realized that for one the market is oversaturated. Two, I see products offered by so many other companies that I WANT, I prefer, over mine. Now could I have worked towards something different, yes. But I also figured out one thing, the most important factor at that, which is I’m not really into it. This isn’t what I want to sell. So I shut it down.
 
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It Wasn’t Easy To Let Go And Pride Is To Blame

 
Pride cometh before the fall. I don’t plan on falling, and I’m not going to keep throwing wood into a fire that’s destined to burn out. This fire is not worth maintaining. I opened up a second shop because I came across a product that I KNEW, or my instinct and my gut screamed at me, would be a hit. I saw it, and I instantly saw how a game plan (a rough draft of one anyways) in my head as to how to split, sell and market this product. So again, I opened up shop with a new product in a completely different niche. And you know what, the reception for it was completely different than my first shop. I made my first sale on this second shop after 5 days. Again, my first shop, ihustlefitness.com went on to almost three months with no sales! Pride was hinting the notion that I should keep both stores. I knew better.
 

 

Where Do I Go From Here And How Do I Move On

 
This isn’t easy, but this has shown me a couple things. One, I’m grateful for my failure(s). It made me wiser, and I was still able to learn a lot of skills within that failure. I’ve learned how to make a pretty good online store. A really good one actually. Aesthetically and functionality wise I can make an amazing store. I also learned I am capable of picking out profitable niches. We all are, but I proved it myself by doing so. That makes a world of difference. There are those who “know” and those who KNOW. Another thing this has shown me is that I am capable of moving forward. I don’t get stuck, or worry about what’s been lost. Yes, I account for it, but I don’t let it hold me back. Instead I am looking forward, planning my next move. I like that, because I lived a long time “living in the past”. Now, I also realize the whole health and fitness industry just may not be for me. I continue to fine tune what I DO. Narrowing that niche, until I master one, then I can slowly expand. Going full circle as they say.
 

 

Conclusion

 
Now what’s left for me is to decide on what to do with the rest of my health and fitness industry related projects. Well, project. I have a health coaching services site, where in I invested a lot of time and money into becoming a health and wellness coach. Do I stick with it? Well, now that I’ve recently closed shop on my fitness store I feel more confident that I will come up with the best decision possible. I could merge it onto this blog The Hustle Never Ends. We will see. In either case, my conscience is clear because I know I’m heading in the right direction, whatever my decision may be. This blog is my primary focus, in creating my online presence anyways. And of course y’all know how important that is for me, and I believe should be of importance for many others. The take away I hope others can get from this is that you steer the ship as best you can, and some times you make the right choices, sometimes you don’t. That’s what being a HUSTLER in today’s day and age is all about. Those last two lines were inspired by the character of Corrado Soprano in an episode of The Sopranos where he is explaining to Tony how a captain runs his ship, or how a boss runs his crew. The same applies to us in our day to day. We make choices, then move the fuck on!
 
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Mike Alonzo

I'm a father, first and foremost. Writer, blogger, business graduate and online hustler. The hustle never ends for me, neither should it for you!

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