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

[alberello75]

It is obvious that any activity involves an initial expense which is then "reset" if it is possible to reach at least that called: "break-even-point". However, if one having difficulties, it would be reasonable in my opinion to close immediately to prevent higher losses later on.

 

[Eodine]

Yeah, I also do not think that it is the next line of action is to quit a business but instead find a strategy to build the business or find sonething that can be added to make the business boost.

 

[Arman036]

Most small businesses take at least 2 to 3 years to be profitable and become truly successful once they've hit the 7 to 10 year mark. Most small businesses take years to be successful, despite the overnight success of companies like Facebook.

 

[Akinwale701]

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'll say the time to give up is when you have done everything possible to make a business move but it still wouldn't move, or when you know the business idea isn't selling anymore.

 

[Abbeyola]

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?

The point a business organization owners should give up is, when turn over is outrightly poor and expenses can no longer be paid again.

 

[Senator]

A business owner need to know that before giving up on his business, he should have endeavored to have put in all the efforts to safe the business. Then can he resign to fate

 

[Kingsley]

When one is incuring more expenses or when expenditures are far more than revenue, we can also say when average cost outweight average revenue. At this point it will be in the best interest of the business owner to close down and look for something else to do.

 

[Bookwormlux1]

There should never be a reason to give up, though you can think of giving up on a business whenever you realize that you have no passion for it.

 

[Muhammadawais]

Of the hundreds of thousands of business ventures that entrepreneurs launch every year, many never get off the ground. Others fizzle after spectacular rocket starts.

A six-year-old condiment company has attracted loyal customers but has achieved less than $500,000 in sales. The company’s gross margins can’t cover its overhead or provide adequate incomes for the founder and the family members who participate in the business

 

[Good-Person]

There should never be a reason to give up, though you can think of giving up on a business whenever you realize that you have no passion for it.

Many people tend to give up when they think that they are not being profited by whatever business they run. So they tend to shut it down. I actually think that if you believe you are not generating profist, then you should close your business and it's actually not about giving up. If you keep on running such kind of business, then you would end up using your resources and money. So it is better to shut down such kind of business and start running a new one.

 

[Psalmseen]

For me, I believe in starting a business but I don't believe in the word giving up.. It's not the fact that the business fail is failure, it's at that point you give up, that's when you fail

 

[Ayokex]

It's better to realize at the early stage of the business if one is in the wrong business. It is better to quit a business when one realizes that one has made a mistake.

 

[Adebola]

To succeed in a business, then never go into a business you dont know everything about. The first thing to do when choosing a business is to go and learn about the businessls and all it will take

 

[joy101]

A business owner should never give up in a business, no matter what the problem you should never give up only what you can do is to chance location.

 

[Setfragil]

A business owner can give up on his business when it realises that his business has reached a staged where it business no longer yield any profits and it liabilities and debt can hardly be paid for with the little resources.

 

[Dubai]

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?

This is a dicey one. A business owner should not give up at the initial stage or life of the venture. He should keep teying, maybe different strategies. But after many attempts, he could let go.

 

[Cash%]

When the business is already making enough profit , i see no reason why the business owners would like to give up on the business ,at least there should be a reason

 

[nimzy]

As a business owner is not advisable to give up on your business not matter how difficulties it is facing whether lack of financial ability you need to try harder but if the situation is getting worse to avoid any debt is better you quite.

 

[Cash%]

As a business owner is not advisable to give up on your business not matter how difficulties it is facing whether lack of financial ability you need to try harder but if the situation is getting worse to avoid any debt is better you quite.

When the situation get worst , you need to meet an experienced personell that would put you through to start the suitable business of your choice, that is the situation

 

[Fizzy_boi]

I see no reason why you should give up on your business as along as it goes well.You should avoid thins that will definitely leads to you shutting down the business.