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

[Sotherefore]

This will not be easy. You have to understand that in most cases it is always safer for this decision to be taken than for you to continue believing in something that will still fail you in the future. This can only be done if the business is not generating profit after a long time of good maintenance and commitment.

 

[Shigobad20201]

If you start the business with your hard earned money , most especially frommthe scratch , then you will realises that its not easy letting then business go and at the same time , there's no point deceiving oneself if you know that theres nothing you can do to revive the business.

 

[Good-Person]

I guess that not all the businesses are made for all kind of people and this is why people should try to start businesses that they might be able to conduct easily.

 

[Sincerem]

There are many reasons for business failure. For me personally I will try to find out the reason why my business is not succeeding . If I can't do anything about such reason then obviously I wouldn't hesitate to quit the business or maybe go for something that will be successful.

 

[Godspower]

There are many reasons for business failure. For me personally I will try to find out the reason why my business is not succeeding . If I can't do anything about such reason then obviously I wouldn't hesitate to quit the business or maybe go for something that will be successful.

Instead of still devoting my hard earned resources to the business, I will prefer to start another business. If a business fails, there is no point wasting time trying to salvage it.

 

[Sincerem]

Instead of still devoting my hard earned resources to the business, I will prefer to start another business. If a business fails, there is no point wasting time trying to salvage it.

Is not really easy to start over again and if there is any way you can try to raise but the business you should try as much as possible to do it because business generally requires a lot of money . Considering how much you have spent so far.

 

[Shigobad20201]

There are some failing business that will always fail no matter how hard you try to revive the business , so its better to see the future ahead and know when to withdraw from the business.

 

[Robust]

I do not think there is really a specific period of time when some one should stop or quit his or her own business when it is business is drooling down. It just depends on how patient he the business owner could be when his business is it drooling down.

 

[nana kwasi1]

You ought to close the company down if your debt load starts to rise. You'll get into deeper debt if you keep running a failing firm.

 

[Immilash1]

You ought to close the company down if your debt load starts to rise. You'll get into deeper debt if you keep running a failing firm.

That's true, but I don't think if quitting will be a good idea, you are not going to gain anything out of quitting, if you start something you are expected to finish it up.

 

[Good-Person]

Is not really easy to start over again and if there is any way you can try to raise but the business you should try as much as possible to do it because business generally requires a lot of money . Considering how much you have spent so far.

Well, definitely it is never an easy thing to start over a thing once again and conducting business is definitely not an easy thing to do at all. The fact of the matter is that almost all the businesses found it harder to start all over again after the pandemic.

 

[Immilash1]

You ought to close the company down if your debt load starts to rise. You'll get into deeper debt if you keep running a failing firm.

That's true, I think that's just the best thing to do if you find yourself I this kinds of situations, you can also decide to find remedy to the situation, I think that will be a good idea.

 

[Good-Person]

That's true, I think that's just the best thing to do if you find yourself I this kinds of situations, you can also decide to find remedy to the situation, I think that will be a good idea.

Sometimes, you really need to take quick decisions in order to avoid mistakes. However, you need to assess the conditions of the business before taking any decision.

 

[Immilash1]

Sometimes, you really need to take quick decisions in order to avoid mistakes. However, you need to assess the conditions of the business before taking any decision.

That's true, I completely agree with what you've said sir, but sometimes if you make quick decision you are going to hurt yourself, because you might have do the wrong thing.

 

[Smiles20]

If you have a business that is failing I believe that you should try to keep as much time as possible until your idea on starting the business itself is invalidated. Starting a business does not mean that it is going to be all rosy.

 

[Good-Person]

If you have a business that is failing I believe that you should try to keep as much time as possible until your idea on starting the business itself is invalidated. Starting a business does not mean that it is going to be all rosy.

It might be possible that certain kinds of business might simply not be for a specific person. All the people are different and different people are suited best for different kinds of businesses.

 

[Sincerem]

Well, definitely it is never an easy thing to start over a thing once again and conducting business is definitely not an easy thing to do at all. The fact of the matter is that almost all the businesses found it harder to start all over again after the pandemic.

Seriously people that were only enjoying the pandemic were the government workers and those working online. Private business owners were not smiling during those period of time.

 

[Imran_Noori]

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?

This is the biggest problem that many start-ups are facing, being patient doesn't mean to wait and do nothing instead you should change strategies and fix what is wrong with the business.

 

[Skysaint]

There's no fixed amount of time for you to wait before quitting as you've said because it would be your choice to make. You can quit the business if you have tried all options and the business is still not moving forward.

 

[Sotherefore]

Sometimes you have to be very careful because situations like this are always critical. What I will do now is to research on the business and to understand the possibility of reviving such business after putting location into consideration. That's how I will know