Running a business is good when your business is doing well. If your business isn’t doing as well as you would like, then you might need to have another strategy to help your business adapt and change. The trouble is, you will need to have the finances to fund this change, which might not be the case if your business is struggling a little.
There are various options for financing a change in business direction. You may be able to find an investor, but you will need to make sure they know about your plans for the business and are happy to focus on this direction. If you aren’t able to find an investor, then you might be able to take out a bank loan to cover the costs, though you must be aware of the cost of paying it back – business loans are not always very good value for money.