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

[Lens]

I am an entrepreneur and I quite understand the poster, but I need to ask you certain questions because closing the business depend on certain factors. For instance, I run a business and I have 5 outlets in different locations, but one of the location isn't living up to expectation. The sales was very low to the extent that I run it from my purse. I adopt various strategies , put in lots of innovations but still there was no development. I nurtured it for 18 months before I decided to close the outlet.

 

[Setfragil]

Quitting a business is not something that is easy to do especially when you have invested so much in the business but when you realised that the business has become a curse rather than a blessing and you can no longer sustaing it, it is better to quit it at that point.

 

[Delight]

the mistake most people make in their business is continuing to stay in the type of business they themselves know is not profitable,when a business is no longer profitable I think that is the best time for you to quit the business to avoid continuous wastage of money.

 

[Ralphjoe]

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.

There is no time frame that one is supposed to wait for a business before it can become successful because all businesses faces different challenges and different scenarios so one will need to treat each business as it comes.

 

[Setfragil]

the mistake most people make in their business is continuing to stay in the type of business they themselves know is not profitable,when a business is no longer profitable I think that is the best time for you to quit the business to avoid continuous wastage of money.

When you continue to stay in a business that no longer makes you profits and you keep funding it, you will end up accumulating more debts for the business which is not good for your finances.

 

[Heatman]

Well, if you have to wait for the business to get up in the mix, it's very important that you make sure you get all the facts about the business correct that it will succeed.

 

[Dowenship]

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

I actually believe that the moment you realise that there's no improvement in the method our strategy one is using its best to restrategise instead of giving up.

 

[Heatman]

I believe that within yourself when you believe that you have done absolutely everything that you are supposed to do to actually make the business succeed and it keeps on failing then it's the right time for you to quit.

 

[Queentener]

You are the one in the business. You are the one that knows what pays you in as much as is good to be patient there are some businesses that has gotten to a dead end and best thing to do is to just give up and focus more on something else.

 

[Snazzy001]

There is this saying that goes, never you quit the road until there is no more road to follow. This means the business is failing and it doesn't mean it will not rise or it does not have any hope of rising again

 

[Emmado]

Wow,you mean giving up in a business ? it will be very difficult for you to easily give up on the business you are using a lot of money to establish, you should should be thinking of how to revive the business or if possible you switch out to something else.

 

[Psalmseen]

Failure in business may arise at times even after so much efforts have been put into place. But do not be discouraged because the failure will only make you stronger and you'll definitely learn from it

 

[Heatman]

Well, in my opinion, I believe that it's something that you should be able to decide on your own especially when you are aware of exactly what you invested in the business.

 

[Hena101]

There is no specific time or number of time one must try and fail before he leave or give up on any business. The only things i know is one must keep trying and taking notices of why he failed and make adjustment next time until his or her efforts yield a better results.

 

[Ralphjoe]

Firstly, one shod understand that quitting a business does not mean total failure just that failure is another step to success so you can make peace with parting and start afresh.

I would never quit a business no matter the amount of failure that I have experience in it because all I know is that whenever I experience failure in the business that should be a springboard to push me into starting up a better business and ensuring that I never feel again in such kind of a business because I have gathered enough experience and the cost of doing the business.

 

[Heatman]

There is no specific time or number of time one must try and fail before he leave or give up on any business. The only things i know is one must keep trying and taking notices of why he failed and make adjustment next time until his or her efforts yield a better results.

You have a very good point and I actually understand exactly what you're trying to say because when you have already calculated and see that the business is not going to survive it, I believe it's best for you to leave it on time or quit.

 

[Snazzy001]

I know I have said something like wait until the business gets impossible to rise again but after much of everything, I think if there is all any other alternative then go with it and go wisely

 

[Giannis]

It is really difficult to make your business rise from a big downfall but I think if you find succesfully the problems and solve them I think you can make some profit.But if it still not making any money a wait a few days just to lose every hope I have then I stut it down

 

[Heatman]

I have always told my friends that if you're trying to do something and it's not working, it's either you change your approach towards it and see if something will change but if you do and it still doesn't change it's better to leave it at walk away.

 

[Shigobad20201]

Everything depends on th person handling the business, if he or she thinks the business collapsing cannot be avoided,mits better to quit early but if there's still hope for the business, its better to keep trying hard to save the business.
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Everything depends on th person handling the business, if he or she thinks the business collapsing cannot be avoided, its better to quit early but if there's still hope for the business, its better to keep trying hard to save the business.