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

[Haveit]

Failure is usually the next step to success because one can be sure of what led to the failure and avoid them, develop a better strategy that would result in success except thee is no such strategy again.

 

[GIFTMICHAEL]

I was very patient for more than four years, before seeing substantial income coming to me via my offline food stock business. I'm gradually moving, you shouldn't stop pushing it high till success hits your side.

 

[Sotherefore]

in whatever business you are doing and no matter how the business seems to be I think quitting is not actually the best option because there are a lot of things you can do to revive your business, changing the location is one of the things you should consider.

 

[Justin]

First analyze how much money you have lost, and then think about whether you are in a position to lose addition money without harming yourself. base your decision on these two things.

 

[Razor1911]

First analyze how much money you have lost, and then think about whether you are in a position to lose addition money without harming yourself. base your decision on these two things.

There is a study needed before giving up the business. The study should findout the reason of such losses and impact of further losses. And according to that only any decision should be taken.

 

[Delight]

You should understand when you need to give up on a business and I think the best sign that is a red flag that you should give up on a business is when the business is not generating enough money for the running of the business and for payment of employees

 

[Justin]

There is a study needed before giving up the business. The study should findout the reason of such losses and impact of further losses. And according to that only any decision should be taken.

Your business has failed and yet you want to spend more money to study why it failed? That's preposterous. When business fails to the point of no return, just leave it

 

[Richard92]

Your business has failed and yet you want to spend more money to study why it failed? That's preposterous. When business fails to the point of no return, just leave it

It doesn't depend the time or the longativity of the failure of a particular business before quitting it is for the enterpreneur to understand whether he or she can be able to run on manage the business or to quit.

 

[Ray1]

There is a simple formula, you can stick with your business as long as you can or as long your capital allows you to. If you believe that your business is worth but you need to change the strategy do it or take the help of an expert from the same business line. Offer them profit sharing option!

 

[Josemendez]

I think if it was a business we took time before opening , I don't think that it is ideal to give up easily. It is never easy succeeding in a new business most times

 

[Chibson]

I always advise people to seek knowledge and understanding of whatever business they are venturing into because that is very important and the case of a failing business will not emanate.

 

[Snazzy001]

Be patient with a failing business until it crumbles finally and cannot be woken again,while you are being patient, work hard and device means of surviving again.

 

[akinlolu99]

I accept that when you start an endeavor, and the benefits are not what you expect, you ought to assess where the flaw lies, what you are fouling up and attempt to address it. At the point when you start a business you should project and know whether it is feasible as per the interest locally. In the event that subsequent to assessing it and there are unquestionably no choices to restart, it is smarter to stop.

 

[Razor1911]

Be patient with a failing business until it crumbles finally and cannot be woken again,while you are being patient, work hard and device means of surviving again.

Waiting patiently does not mean to do nothing when your business is sinking. Patience is good but we need also hard work in that time. Hard work to find out the problems in the business and rectify it.

 

[Kayzzy3]

Waiting patiently does not mean to do nothing when your business is sinking. Patience is good but we need also hard work in that time. Hard work to find out the problems in the business and rectify it.

Exactly, it doesn't mean folded hands or hands to the chin and watch while everything goes south, during the wait, stocks should be taken, changes made and fresh air injected to business to try to awaken it.

Quitting should be the very last thing to consider while facing an ailing business.

 

[Richard92]

Exactly, it doesn't mean folded hands or hands to the chin and watch while everything goes south, during the wait, stocks should be taken, changes made and fresh air injected to business to try to awaken it.

Quitting should be the very last thing to consider while facing an ailing business.

One should be patient with a falling business at least to an extent that you know the business is no longer invoke in the society because they are some products that are no longer a news in a particular society and if you are into such business or product you have to quit or induce some innovative skills to improve such products.

 

[Razor1911]

One should be patient with a falling business at least to an extent that you know the business is no longer invoke in the society because they are some products that are no longer a news in a particular society and if you are into such business or product you have to quit or induce some innovative skills to improve such products.

The statistics will show you if you are about to collapse. If your balance sheet shows that your capital is decreasing, and when it decreases by more than 50% I think then you should quit business.

 

[Kelly5]

I think it should be reasonable for someone to try out other ways he has not tried out in the business to keep it from failing. Not necessarily that he should keep on pumping funds aimlessly. Of all has failed, he should move to something else

 

[joy101]

Business is all about patient because is not every time that you expect good in the business, but actually we want our business to be grooving but if it not working the way you want it,you can change yo another one.

 

[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

Consistency is the rule of the game here in business.When things are not going the way you expects,persistence should be what one shoul d hold unto.And with time things will pick up.