How long should one be patient with a failing business before quitting?

[Tochi]

Most times, we don't make enough profits from a business as we imagined and would want to quit, though we are always advised to be patient. How long should one be patient before quitting to focus on another one?

Just because your business appears to be failing is not enough reason to give up on that business. You might have taken years, months and weeks to build such business, just becaus it not yielding fruits as expected you decided to give up, it doesn't just speak well. Challenges arises in business, and it is within a business man capacity to overcome such challenges.

 

[Setho]

If the business is building by the reputation and it has gone by that you think you cannot be able to avoid it then it is only fair that you give up on the business and try something else.

 

[nimzy]

Been patient is one of the quality of an entrepreneur to be with his falling business at all time ready to accept his past mistakes as guid for the future by searching available information and solutions to settle his failure at all time.

 

[Tislad]

Well depending on the person because to me quitting is not an option so like the saying get rich or die trying, so it till I succeed in what I do before I give up.

 

[Peskyblaise]

As long as it's not eating up your capital and as long as you are not borrowing much to invest in the business

 

[Ghost1]

I believe that when you start a venture, and the profits are not what you expect, you should evaluate where the fault lies, what you are doing wrong and try to correct it. When you start a business you should project and know if it is viable according to the demand in the community. If after reviewing it and there are definitely no options to restart, it is better to stop.

This is definitely true. I've been advising a friend for sometimes who is running at loss in a business he said giving up is not in his dictionary. Maybe someday it'll pay off for him

 

[Senator]

How long you should wait on a failing business before you should finally pull the plug or quit depend on your ability to see the obvious on time and make the decision to simply quit

 

[skyliequiz]

If you don't understand how your firm earns money and aren't interested in learning, it's time to go. In most firms, one core sector generates 80 percent of the earnings.

 

[Seno inyang]

Patience and persistence... One should keep trying and trying. It will one day sail through.

 

[Sariana23]

This is definitely true. I've been advising a friend for sometimes who is running at loss in a business he said giving up is not in his dictionary. Maybe someday it'll pay off for him

It is like this @Gebieter, if your friend is doing something wrong, he has the opportunity to correct it and maybe in time he will see its fruits, we must be aware that success takes time to arrive, but if on the contrary his company does not have a good marketing or there is not a good demand in the area, it is better to give up.

 

[Tislad]

If you are doing a business and you are failing and you believe strongly in what you ate doing before you quit i will advise you to do it for 39 years before quiting trust me.

 

[Maayong]

I think one should never think of quitting his/her business instead he/she should be thinking of how to move the business forward

 

[Expert]

It is like this @Gebieter, if your friend is doing something wrong, he has the opportunity to correct it and maybe in time he will see its fruits, we must be aware that success takes time to arrive, but if on the contrary his company does not have a good marketing or there is not a good demand in the area, it is better to give up.

Location, demands, and marketing are all key factors that a business depends on to continue to exist. The owner that is using an old business model that is becoming a fail should look to change one of the key factors so that it continues to thrive.

 

[Toyoabasi]

Most times, we don't make enough profits from a business as we imagined and would want to quit, though we are always advised to be patient. How long should one be patient before quitting to focus on another one?

Once you're convinced that waiting would not solve the problem...quit!
It is better to start up something else than to keep wasting money and resources on an unachievable business.

 

[tyrim88]

There are a number of factors that make a business unsuccessful, so when you analyse these factors if there is no improvement, dust yourself up and try again

That is just what is needed from a tough and ressilent business entreprenuer,because most of the time things might not go as planed,then you need patience and perseverance to be able to stay in the business.

 

[Shigobad20201]

Before starting any business , you must first do a thorough research and after starting , you realised the business is having a huge problem, you responsibility is to try your best to revive the business until theres nothing else to do in reviving the business.

 

[Kvngsammy]

I think the time one should give up on a failing business is when you've exhausted all the legal ways of investing or putting your best and standard practices into the business; then you know that other factors beyond your control are what made the business dwindle.

 

[Laurentta]

I believe one should not quit a business until it is declared bankrupt. Only then will one the business be beyond saving.

 

[Immilash1]

I'm not the type that quits business easily. When your business is failling it definitely means there is something wrong.just find time and resolve the situation.

 

[Stnicholaz]

Most times, we don't make enough profits from a business as we imagined and would want to quit, though we are always advised to be patient. How long should one be patient before quitting to focus on another one?

When you start losing passion from it, you force yourself to go to work everyday, the profit is not enough or not fault coming. Is enough signal for you to quite the business. Patient is good but once observed the it is near impossible to revive the business, it best your quite and start a new business.