Monday, 21 November 2005  Recognising when to get out of a
distressed company  Starting your own business is one of the
most emotionally, financially, and physically straining
processes a person can go through. Personally, I would rank it
up there with divorce, moving house, or other major life events.
Statistically, only 50% of small businesses are still trading
three years after launch, with the vast majority of those which
fail being run until the very last moment as the business is
tipped into the oblivion of insolvency.  Coping with business
failure is tough, whether a sole venture, or if you have
partners involved, and there are a few key reasons for this:  •
Ego & Emotion The stigma of your business failing, and the
assumption that you will then be branded a poor-businessperson.
How your friends, family and business ‘stakeholders’ (suppliers,
employees, etc) will view your failure  Your own emotional
attachment to a business you were passionate and proud of.  The
responsibility you feel towards your e