How to Bounce Back From a Failed Business Due to the Pandemic

Here’s how I’m redefining myself after my two businesses failed in 2020

Danny Forest
Entrepreneurship Handbook
5 min readSep 30, 2020

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Photo by Maksim Goncharenok from Pexels (adapted)

Everywhere around me, I kept seeing businesses crumble. Some had been in operations for years. Where I live in Old Montreal, it seems as if every other shop on the street is closed permanently. Even the best restaurants had to shut down.

This week, the government even announced we’re in lockdown again. More businesses are about to shut down. This isn’t looking pretty.

So, needless to say, 2020 was a sucky year for entrepreneurship.

I’ve lived it full well, having shut down all operations on one of my businesses, and rushing another one to market with close to zero hope of success after working seven years on the project.

But now that reality has settled in, how can we flip the situation around?

This year was filled with hopelessness and negativity (with reason), but it doesn’t have to remain this way. It’s time we stop saying “I can’t…” and start thinking “how can I…”

I’m very close to rock bottom. My income went down by about 75 percent, my expenses went up by $1,100 per month (due to having a child mostly), I dealt with postpartum depression, and my wife is right in the…

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