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When a Company Closes Down: What Next?

By: Deb Bixler


When a Company Closes Down

Unfortunately, these days we are constantly reading about failed businesses.

When a company closes down in the direct sales industry it can have devastating consequences for fearful consultants both within the company and those with other companies.

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!

Home Party Plan – Direct Sales Viable

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, you can choose to start a new business and 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 2013 estimated retail sales of USD $32.67 billion for the direct selling channel were up 3.3% in the United States, from USD $31.63 billion in 2012. (DSA)

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 when determining their choices 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!

Be fast 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 whether you will be joining another company or not and which one is best for you.

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!

Published: March 1, 2017

Source: Create a Cash Flow Show

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Deb Bixler

Direct sales party plan educator, Deb Bixler, host of the Cash Flow Show - Direct Sales Radio is the leading authority for home party plan business training. Recognized worldwide, Deb provides corporate consultancy, party plan coaching, online and live training events as well as social media management for the home business consultant.

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