Tell them that you understand and you hope they have success where ever they choose to go. This is business and in business you will need to invest time and money wisely. For the first few years most traditional businesses are in the red. The internet has change this for online businesses. It does not take as long to be in the black but you may find that you need to beef up your skills. This will require an opportunity cost of time. If you are not able to spend time then you may need to leverage some capital to set up advertising that you don't have the time to learn how to do for yourself.
If you are willing to sit it out for a number of years, while you overcome the learning curb that's cool but if not be ready to absorb calculated risks. Anytime the rewards are outweighed by the risks it's worth the wait. But when you are bankrupt - you are out of business. It happens. So wish them well and keep moving toward your goals. If they reach out to you for recommendations that they are willing to follow then advise them to curb their expenses and stick to a strict budget. Set time and money aside and build slowly over time. Never advise people to spend money they don't have or to go deeper into the abyss. If they will accept your advice offer them some tips that you follow to minimize risks.
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Tell them that you understand and you hope they have success where ever they choose to go. This is business and in business you will need to invest time and money wisely. For the first few years most traditional businesses are in the red. The internet has change this for online businesses. It does not take as long to be in the black but you may find that you need to beef up your skills. This will require an opportunity cost of time. If you are not able to spend time then you may need to leverage ...more
