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

[Kingstone]

Business shouldn't be rushed. It is not easy to start a business and begin to earn immediately. Give it some time to grow. The money generated at first should be invested again to keep the business running and it will generate more money.

 

[Good-Person]

I reckon that you must move on as soon as you realize that the business you are conducting is not your cup of tea. However, you must be careful before getting into business and never get into business you have no knowledge about. I also made the same mistake and invested into cryptocurrencies. In the end, I lost money.

 

[Sotherefore]

This will always be a very confusing state to a lot of business owner because at this time will make it very difficult for them to make a decision whether to forget about the business or to continue, if there is no possibility of improvement in the future there's no need to continue in such a business.

 

[Skysaint]

Although I wouldn't suggest to anyone to just quit their businesses due to some minor challenges but when you discover that you're not made for a business then I think it's best you quit it and go for the stuff your made for

 

[Abigael]

Patience is advisable if the failing business has some good solutions that could work. So you stay patient while to try out those solutions. But in the case where you have tried everything and nothing seems to work, it is best to just quit and try something new.

 

[Justin]

This should depend on your financial position and risk tolerance level. let say your business failed and you have $1000 outstanding loan, and if you can afford to pay at least $2000, you can wait for sometime before you close down your business.

 

[Kennysplash]

Nothing is rosy at the very start. When it comes to business especially, one needs to be very patient and persistent to make it. And there is no specific time for that, some might be just a few months while others can take years. But as long as you are doing the right thing it will eventually pay off.

 

[Godspower]

Don't stay too long in a failed business. Once you've expended a large amount of resources in a business and yet it doesn't seem to improve, then it might be wise to quit to avoid running into debts.

 

[kayode10]

I would not advise you quit the first moment you encounter problems. You should see it an opportunity to learn something new about building business. You can consult the veterans in your industry to help you with the problem.

 

[Sotherefore]

I would not advise you quit the first moment you encounter problems. You should see it an opportunity to learn something new about building business. You can consult the veterans in your industry to help you with the problem.

You really have to analyse your business to know if it will be profitable in the future, quitting at the first moment is not even the right thing because the business might be gaining the attention of people but early quitting can even be more dangerous which is not to be done

 

[tyrim88]

Well from my opinion if being patient with the business that you see that it doesn't have any future it's actually useless for you to stick around the business because you are just there wasting your time that you're supposed to invest in something useful.

One thing about any venture is that there is uncertainty about the future of the business,it is when you are fully involved that you would be able to know from certain indices,before you would be able to draw a conclusion.

 

[kinqzbitz]

I don't think one should ever quit from his or her business in stead the person should try more and hard to actually sustain the business, businesses are Al all about taking risk

 

[Skysaint]

I don't think one should ever quit from his or her business in stead the person should try more and hard to actually sustain the business, businesses are Al all about taking risk

Well am thinking very differently, I actually believe that sometimes you will have to just quit the business. This is when you have exhausted all available options, and the business is still not improving then it's best to quit and try something different; maybe a new business line.

 

[Elfinito]

It doesn't matter how long you habe patience, what matters is how much improvement you are making to get back your business on track.
If you are making efforts to pull back, then you have to be patient till it is well again

 

[eLdavis]

It doesn't matter how long you habe patience, what matters is how much improvement you are making to get back your business on track.
If you are making efforts to pull back, then you have to be patient till it is well again

What about in a situation where there is no visible improvement in the first, second and third year, would you suggest the business owner continues or give up?

 

[Bookwormlux1]

It is very unfortunate that we have so many people these days who are only interested in making it big, and won't exercise patience in any business.

 

[kayode10]

If you believe in this business idea you don't have to think of quitting when you are facing. You should see the problem you are facing as opportunity to learn something new about building business. If you quit you might not learn anything.

 

[Robust]

One should quit his/her business when he/she find another one sweet able and income able for he/her. So that he will not do two zero. Quitting means stopping and if you stop where you are, you will not progress.

 

[Syldan]

To me, one of the best qualities of an entrepreneur, is someone who never gives up on his business, someone who is ready to sacrifice through finance and also research in other to find solutions to his business failure. to me as long as the entrepreneur is ready to find solutions to his business, he can wait that longer.
[automerge]1638002917[/automerge]
Patience ness Is something that is always required in business. either a new established business or the business that is experiencing backwardness. patienceness, can makes a business stands and revive from it bankruptcy.

 

[YERUS]

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 have given the business a second trial and it still is not making profits as expected, i think it is best to quit.
You could start up another business instead of wasting resources on the failing business.