Another Company Closes Down: What Next?
News: Another company closes down!
One of my favorite companies, Wildtree, recently informed their sales force that they will be closing their doors in September! In addition, I just learned that Chloe + Isabel is closing its doors at the end of July.
Unfortunately, we read about failed direct sales businesses too often.
When a company closes down in the direct sales industry it can have devastating consequences for consultants both within the company and those with other companies.
Our sympathy goes out to Wildtree & Chloe + Isabel distributors everywhere!
The news of a direct sales company going out of business puts fear into the hearts of all direct sellers, hosts and supporters of the industry.
No one in direct sales wants another black mark that the naysayers can point to saying… told you so!
If you are one of the unlucky few who must endure your company closure – we feel your pain!
While it may be a traumatic time for those directly involved, remember that all is not lost!
If you decide to, you can choose to start a new business. That does not mean you are starting at zero again.
Your skills and experiences to date give you leverage to grow quickly and chances are many of your team members and customers will join you when you select a new company.
The industry is strong!
The 2017 the estimated retail sales was $34.9 billion for the direct selling industry. (Direct Selling Association)
When A Company Closes Down
When your company closes you must act quickly and also take your time!
Don’t let fear become panic! The result will be that you are likely to make poor decisions about your career and money.
Direct sellers who take control of the fear and use it to motivate themselves to a positive change will move themselves forward.
If you let your fear turn you to depression and take no immediate action, you may miss out on rallying your team, customer service opportunities or closing sales.
Whatever decisions you make for yourself, you want to provide the service and support that your hostesses, customers and consultants need during this tough time.
- So, act fast!
- And, act with deliberation!
Act quickly in reaching out to your team, engaging your client base with sales or end-of-business income opportunities and embracing your client base.
Be deliberate and take your time when making a choice regarding joining a new company.
You may want to read the page on this site regarding how to pick a home party plan company.
The decision to join a new party plan should not be made quickly. Deliberately research and make your decisions carefully, whether you will be joining another company or not.
Pick a company that is best for you after diligent research and thought!
My Company Is Closing Down
You can survive your company closure!
- Tidy up your finances
- Tie up loose ends at the company
- Protect your customers & team
- Support your team
- Decide whether to find a new company
- Grieve – then start again
Company Closing = The Recruiting Frenzy
A company closing often results in a recruiting frenzy!
Distributors of every other company begin to recruit and (probably) overwhelm those still in shock as a result of their company closing!
It becomes an unflattering frenzy that makes the industry as a whole look bad.
Yes, you would like to have them join your team but do it in such a way as to set yourself apart from the rest!
- Offer sympathy – really…when a company closes down the reps are in shock!
- Send a real note – offer support and condolences.
- Support the consultant in any sales or closeout opportunities.
- Stay connected without soliciting!
Both online and offline, friends and not-so-close acquaintances… the answer is to just be there for them.
When you treat the business closing with respect and support those in grief, they will remember you.
Set yourself apart from the frenzy. Stop recruiting and start being a friend!
Chances are you will end up signing a few of the consultants as well!
It is traumatic for everyone when a company closes down! Call me if you want to talk or need some guidance!
Deb Bixler: 717-751-2793