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

[MizzLala]

It's not a good idea to give up on a business too early. What those people need to know is that business takes nurturing, a lot of hard work and patience to get it to where you want to take it. If you're impatient, then you probably shouldn't be in the business world. But you should also know when to quit. If after many years of ploughing money into your business and it's still not yielding any dividends, it's time to quit, regroup and re-strategise!

 

[Setfragil]

To own a business is a good thing but to manage it to the stage of making regular profit it is not an easy task. When a business Keeps having a lot of expenditure than the income the business owner have to go back to the table and rethink what are the major causes of this expenditure. But if it get to a stage where there are lot of bad debts that the business has incurred, the business owner can close down the shop for sometimes and open it later after some adjustments have been made.

 

[Ltherman]

We can take the signs of companies who file for bankruptcy or those involved in some form of mergers and acquisition to actually know what this companies face before the pull the trigger on ending the company.
If all options has been exhausted and the problems ain't abetting then the company may have to be dissolved.

 

[jimmann247]

I don't think there is a given up stage on business, you have to keep up going and make sure you overcome what ever difficulty you were facing then, try and fix things in other and not planing to give up.

 

[Ezzyoj]

At the point, when all the methodologies are tried, all marketing skills have been tried, all the business strategies have been tried, you start lacking passion for the business, you can't longer see growth, no more customers to patronize your business. At this you have look elsewhere

 

[WhiteHouse]

It depends. Surely toward the finish of five years and no benefit or progress (route one against the other). As a rule, the "make back the initial investment" point where incomes surpass costs is required for another business to be productive. However, at that point you need to cover owner's salary and show a profit. I like two years for new companies to show a benefit.

 

[Nurudeen]

We all know Business is established because of profit or to accumulates wealth. So to me if a person is doing a business and the business isnt brining the desired results after so many trial's and attempt to ensure the business is going smoothly and it turns not to grow

 

[Dubai]

Giving up on a business is not something advisable and it shows that one was not even sure about his career in the first place. You might to keep trying even if he business is failing. Try to understand the cause of the downtime and fix the issue.

 

[Esther]

A good business minded person will never think of quitting or giving up. It is okay to take a break and think of everything think of what you're not doing right and the mistakes that should be corrected but quitting shouldn't be an option. Good things don't come easy.

 

[Georgeadawara1]

Giving up is no part of any business orientation. As a business man or woman you don't have to give up at any condition for you to be a good business personal.the thing that is supposed to be found in you is correge and endurance being strong enough to stand. Solve all the problem that rises but not to run away from them.

 

[Layefa94]

Rome was not built in a day, after starting a business the return I not directly automatic, at first you might not be getting your desired returns, keep pushing, consistently work more harder and before you know it, you will start getting returns little by little

 

[Josephjossy]

You shouldn't have that mindset of giving up in your business, why are you giving up for, you have to keep moving the business, so far you are physically and mentally fit, you can run the business, don't just quit a business because your getting old or something, instead hand it over to a staff or someone with high experience that can run the business

 

[Sheun450]

If you're convinced that there really isn't a market for your products and services, if there aren't enough people who will pay you the amount of money that you need in order to make a profitable business, or if the costs are unsustainably high, then it may be healthy and prudent to wind down this part, or all of the

 

[Queentener]

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?

A lot of business owner tends to give up so easily, but I will say this it's a two way thing some lack patience, they want breakthrough immediately forgetting Rome wasn't built in a day. While on the other hand some business owner don't have passion for the business they just went into it because of the gain and when the money is not coming as they have thought they give up.

 

[Victor72]

I don't think a true business owners should give up his business at any point in time, if his trust and Believe in the business. If you are courageous the business might still rise up again, it all depends on your choice in the business.

 

[Victor001]

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?

As an enterpreneur, is good to cast your net in various spot in the water, that is just the secret, but be watchful to note at what expenses. Some business might work for one person, but may not work for you. There is no limit to continous trying but apply wisdom to know when to diversify as there are countless opportunities.

 

[IamDozzy]

It's just so sad to see business owners liquidate their business at an early stage simply because of getting a loss or not breaking even. What this business owners lack is persistence. Persistence is a virtue all business owners should have if they want to develop a toughskin to failure in business

 

[Fabatsam04]

If you are aware that others alreadydo, but better, with the same strategies of boosting the business and yours is like you are not doing anything, the business owner can give up its business.

 

[Popular]

Starting up up a business with no time for debts is the best call to every business partner because debts kill your business mentally,or when you start managing your company when debts is high you start losing your key staffs because of no payment of salary

 

[Sanusi]

I think the particular point a business owner should give up is when there is no alternative for him and also when they must have tried all the possible best to move the company forward.