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

[Chibson]

this is the reason why it is very important for people to have short-term goals and long-term goals in business because when they have such they cannot easily abandon their plans for their businesses.

 

[Prettyjanie]

Sometimes in business, you experience some level of set back such that you may feel you will not make it, hold your head up and keep pushing who knows, you may make it. Don't give up just yet.

 

[GIFTMICHAEL]

If they truly want to earn from a business, then lots of researches is needed to be carried out in order to find that on demand business initiative to adopt.

 

[Fizzy_boi]

Actually you shouldn't quit a failing business at all but rather change your perceptive of thought towards the business and see maybe it won't get back on successful journey

 

[Melanie Marie]

Within a year, if you are losing more money that earning, then it’s time to buy cheaper (yet still efficient) products, try a cheaper way to advertise, + different ways of advertising, and then give it another 6 months. If you break even or even start showing a small rise in profit, then keep at it. But if nothing has changed, then it’s your product.
It’s time to try something else.

 

[Jlife]

It is always advisable for you to seek the help of experts on how to improve your failing business than to just quit, and an expert might have a better idea of how you can organise your business again for it to be profitable.

 

[Ralphjoe]

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

Understanding when it is right to quit a business is very key in the business world as the principles that I have developed in my time of doing business is that whenever I have tried the business for more than once and the second time it feels I will definitely not try it again I'll go into another kind of business.

 

[gammarays]

Most businesses fail due to losses incurred and due to low patronage. You should check the course of the failure and look for ways to remedy it. If it doesn't work out,you may consider leasing it out or selling it.

 

[delnovem]

You have absolutely given it long enough. If you know in your heart it's not what you want to do. If there is no market for it. If the niche/industry is in big decline. If you have zero passion & enthusiasm for it.

 

[Heatman]

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.

Seriously, it's a very big ask on such a person because in most cases, if it's the person's business, it's definitely going to be very difficult for him or her to give up on business

 

[kayode10]

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?

I think you should wait until file bankruptcy. Once your file bankruptcy in your business it shows that you are in a critical stage. Then you should need to work your ass off and pay all your debts before you move on to another business.

 

[uforwealth]

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?

The time to be patient depends mainly on the nature of the problem the website owner is facing. If it is a major problem that requires a long time to be resolved, you will have to be patient for a long time as well. But if the website owner is later confirmed to be a scammer, no patience is needed here. Take your leave.

 

[Heatman]

this is the reason why it is very important for people to have short-term goals and long-term goals in business because when they have such they cannot easily abandon their plans for their businesses.

Well, as far as I'm concerned, when it comes to business, there is no business that is setup looking at having short term goals because it's not really going to pan out.

 

[jeff87]

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?

If the business is not making enough profit, I believe it's time to close it down. Just for example in one year, if you have profit only in one or two months but lose on eight to nine months, I believe you better consider closing down your business.

 

[Heatman]

If the business is not making enough profit, I believe it's time to close it down. Just for example in one year, if you have profit only in one or two months but lose on eight to nine months, I believe you better consider closing down your business.

Seriously, when it's getting to the point where you only have more expenses or say debt associated with the business, it's definitely going to be the right thing to call it on the business.

 

[Maphalle]

It's not easy to work on a business until it stands its ground. Patience is the mother of success and you must persist. Remember quitters nrver win. You'll keep quitting in every business you start.

 

[Thinker009]

It depends on you , I think there are no right time to quit , if something isn't working well you should keep trying the possible ways it's definitely going to work well later

 

[Nurudeen]

I think the best time for a business owner to quit a business is when the Business owner have exhausted all this resources both money and time on the business and the business is not yielding anything good

 

[Bousine123]

I think it is what you wanted when. You started your business. If it's not meeting up with your goals, then giving up on it or selling it off will not be so bad

this is the reason why it is very important for people to have short-term goals and long-term goals in business because when they have such they cannot easily abandon their plans for their businesses.

 

[Rhapsody]

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?

Business is also like forex trade. There are some times in forex trade that you will make a trade and the trade will be on a losing side. Some times been patient you will later make profit with the trade. But sometimes the loss will increase and eventually loss the whole money. But if you study the trade you will see if to stop the trade or to continue. So as business. You know your business. You will know if it will rise back or not.