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

[Setho]

Different people might want to approach different measures of evaluation for their businesses but as for me, I should know a business has failed right from the point where I am planning for it. This is not to mistake it with the fact that you have gluten stuff like advertising or location of the business wrong. Generally if you try all rescue mechanisms and it doesn't work then the business has failed.

 

[Ralphjoe]

The point through which you can totally give up on a business is when you notice that there is no way that the business can ever be Salvaged as such it is advisable that you give up on the business. At this point you will notice that the business is not selling anymore and you don't have the capital to invest in the business, even if you have the capital to invest in the business, the business always drain the capital without being revived.

 

[WhiteHouse]

At that point when you are no longer deriving joy from it or when you have lost the enthusiasm for the business, it could also be that the business is running into loss and you don't see any future possibilities that it will be a success.

 

[Tito4u]

A business owner should not give up at anytime because circumstances are not permanent. So no matter what the situation might be or whatever the problem, efforts should be geared towards making the business a going concern and this must be done at all cost .

 

[GIFTMICHAEL]

After using every strategy to resuscitate your business and it is not even flourishing you need to employ other means like trying to know the root cause if that is not the reason for sudden collapse in your business you don't have any other options than to shut down.

 

[Abu4exel]

A business man or woman should not give up so easily because he or she is not getting what he or she expect to get from the beginning. Patience and perseverance should go with business. And if at all, he or she wants to quit because he or she is not making return, he or she should run the business for at least 6months.

 

[singlej007]

It is not advisable to give up at early stage, because most business that is succeeding and growing today got to that stage but they don't give up rather push harder and device more strategies of winning.

 

[Ibrahim1]

As for me, if am going to say anything I think the best time and point should a business owner gives up on a business is when there's no hope again and he or she's doesn't have anything on head again on what to do about the business or company again but if am going to say I will advice such business man not to give up but keeps trying and going because things will change because there's up and downs in any business you doing
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As for me, if am going to say anything I think the best time and point should a business owner gives up on a business is when there's no hope again and he or she's doesn't have anything on head again on what to do about the business or company again but if am going to say I will advice such business man not to give up but keeps trying and going because things will change because there's up and downs in any business you doing

 

[Erik4150]

A business owner should give up on his business if there is no chance of the business survival. But first he should try every option possible to revive the business, even if it means taking loans. If that doesn't work he should just give up and sell the business.

 

[Olubayo12]

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?

At the point when you have established beyond reasonable doubts that the stress is no longer worth it and that there is a better option that is readily available than for you to he dragging a dead dog on the floor. Then it is advisable to give up on that particular business

 

[Richard92]

A business owner can give up on a business when the business is no longer in line this means the product that you are selling is no longer existing in the market or it has gone out of fashion.another factor that can make a business owner give up on the businesses when the business goes bankrupt and you don't have enough finance to run such business.

 

[Philip Omotayo]

To give up in a business, that means such a person has gone through a lot. A business owner who guve up means that there is no profit comjng in. Neither is it an investor who chose to invest in the business or perhaps he has spend every profit and capital. Then the business may like give up.

 

[Shaffy]

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?

Sometimes you have to let go of a business, if it yields no positive results before it's too late.

Also, hanging on to that one may hinder you from actually exploring options that are better, so it's best to let it go.

 

[westmania]

For a business owner to leave a business is not easy decision. He has emotions attached to it over years. So he needs to ensure after his retirement all business process and profit flow will be maintained perfectly so someone alternate needs to take his place.

 

[Zakir5051]

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?

I think given up on a business is the opinion of the business owner, if the business is growing, definitely one one would want to give up, but when the business is going to the negative side and even getting worser day by day, it would now be more advicible to give up.

 

[tuna89]

The best time to give up on any business is when you notice that the debt is on the rise and the profits you make cannot payoff the debt or when you notice that you have to take debts to stock your store and still you are not making profits, such a business has to be abandoned, whatever money is left should be used to invest in something that would enable you pay up your debts, you can as well sell off the store.

 

[Alexandoy]

There is a saying that if the faucet is getting dry you have to think of tomorrow. What if the funds of the business would be zero balance and that your business has debts piling up which you think you cannot repay anymore then that is the time to quit. I have experienced that twice although the 2nd business was not due to bankruptcy. I know of several entrepreneurs who closed shop when the business has been down for months.

 

[EMMANUEL]

Giving up on a business varies on the level at which you intended to give up on business, there are some people that the main reasons they tend to give up didn't worth giving up.
Giving on business might not be the best idea but when decision is made up about giving up I guess the main reasons could be based on low patronage, or insufficient dealings towards funding the business.

 

[Usama Iqbal]

I personally think that a business owner should never give up his business. The moment when someone start his business he feels that he will make his business successful . But lack of strategy some problems cause the failure of business. I think they should solve the problems and work hard so that he make the business successful

 

[Dowenship]

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?

I have yo my business when the fund I used in finding the business closed up. I'm not advising anybody to give up on the businesses but whenever the capital is no longer flowing in it shows that its time to work for a job.