At What Point Should A business Owner Give Up On A Business?

[Josemendez]

I believe that it is not ideal for one to give up on his business when the business is not yielding much fruits. He should endeavor to work towards improving the success of the business.

 

[babdud02]

Although many will tell you Rome was not built in a day that you should still continue with the business even though you’re not making any profit but losing all your money.It’s working for someone doesn’t mean it will work for you maybe you just need to back down and do what will work for you
[automerge]1624608735[/automerge]
They say patience and commitment are really helping in life but there is a particular time to back down although you might not wanna admit it’s not working for you but you’re not making any profit but losing all your money after some years on the business.

 

[Bookwormlux1]

We all know the purpose of any business venture is to make money or reasonable return on whatever is being invested in the business. I see most inexperienced business owners abandon their startups because they couldn't make profit or break even at such an early stage in business.

is it a wise decision to close a business at such an early stage?

Giving up is not supposed to be part of one's plans when starting a business as this would not give you motivation when things go south.

 

[Jlife]

Giving up in a business can be a very hard decision for people to do because it is not easy to just give up on business you suffered to start ,when the business is giving you a lot of headache and inconveniences you really need to give up.

 

[Kane]

When I gave up my restaurant business, I was already suffering huge loss, I had not paid my staff since months, I had not paid rents since months, and I also had to pay to the bank.

 

[Bousine123]

We all know the purpose of any business venture is to make money or reasonable return on whatever is being invested in the business. I see most inexperienced business owners abandon their startups because they couldn't make profit or break even at such an early stage in business.

is it a wise decision to close a business at such an early stage?

Everyone has their reasons for letting go of a business, and if someone closes his or her business, I won't blame he or she. Although we as humans need to learn to hold on a lot longer, that's what successful entrepreneurs have that other normal business owners don't have.

 

[Good-Person]

I think people should not start any kind of business until or unless they are sure that they have a good plan to deal with the problems related to their business. They should not start business until they think that the business they are about to start actually suits them and interests them. Until or unless people have a good plan, they will most likely fail in business again and again.

 

[Thinker009]

I think you should actually not think of giving up , but instead make plans of building the business and try increasing the growth of the business to make it sucessful ,it might be that the time you gave up the business becomes sucessful

 

[eLdavis]

This is a very tricky question, personally I believe there is no specific timing to give up in a business, the man who create the light bulb, tried over a hundred times. There are others who gave up in times lesser than that. So it depends on how much you believe in your dream and your ability to wait.

 

[ahmedo24]

You give up business when you discover all your strategies has been put to use and the profit is coming despite having full knowledge about the business.

 

[Dagm1]

An entrepreneur ought to desert a company, when business is actually triggering them reduction after that increase for a lengthy time period. However in many cases, very most companies proprietor really quit as well as quit attempting when they lack funding in proceed operating business.

 

[Yusuf1]

The best time for a business owner to give up on a business is when the business owner had deployed all possible means to save the business and the business didn't progress

 

[Setfragil]

Giving up on a business is not a very easy decision to make. When you have tried every strategies that you know and spent all your resources on a business without improvements, you can give up on such business.

 

[Setho]

If you have strong reasons to believe that you can no longer return back the business to its normal truck then it is ok for you to give up on it.

 

[btaliat]

Business owners do not give up. No matter how hard the situation of the business is, a business owner should not just give up on the business

 

[Ralphjoe]

If you want to succeed, you can't micromanage every little detail of your business. Give yourself a break. Even if you love your business, you need time away from your business. If you don't allow yourself to take time off, you will burn out and ultimately fail.

I am of the opinion that no matter how a business at died there are still people that can resurrect that business and bring it back to the pothole successful store it all has to do with the owner of the business restructuring and bringing 4th innovations that will drive inclusive growth to the business.

 

[Immilash]

yes the essence of business is no make profits ,but if you are someone like me who don't easily give up on business ,you can look for a way to sought it out .I think if you reach to a point were by you don't get the money you've invest talkles of profits I think that is the exact time to quit

 

[eLdavis]

Business owners do not give up. No matter how hard the situation of the business is, a business owner should not just give up on the business

This is the right mindset to have as a business owner though but I believe why most finally give up in the end on their business or business ideas when it nolonger goes as plan, it's usually mostly because of capital, they nolonger have the capital to keep pushing and trying

 

[Abigael]

I don't think it is wise to close a business at such an early stage just because you are not making profits. I think you should first take your time and investigate on what you are not doing right. Maybe even as those who gave succeeded in the business what they are doing. You might find solutions and start making profits.

 

[mcjerry]

Failure in some business at early stage is due to there willingness to have the business but not doing some findings on the business and the location that fits the business