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

[Senator]

You mentioned the word patience. Which means it is going to be different from one individual to another. Some can't wait that long before quiting while some wait too long before it's too late

 

[Chibson]

There is no point staying in a business if you don't have proper knowledge and understanding of how to run it. It's also important to learn.

 

[tuna89]

As soon as you notice a lot of red flags and increase in the loss, in that case you will have to close business and re strategize to understand the actual reasons for the failure and get back on.

 

[Chizfab]

Before quiting, you must have exhausted the available resources to make the business breath again. Apart from that, l see no reason why one has to quit his business, except the business is not viable to start with. That is the only reason to quit.

 

[Psalmseen]

One must be very patient as regards business. Life and business isn't bed of roses. There'll definitely be trying times that you'll really feel down and you'll feel your aims are not been achieved. But keep your hopes high

 

[Alexandoy]

Before quiting, you must have exhausted the available resources to make the business breath again. Apart from that, l see no reason why one has to quit his business, except the business is not viable to start with. That is the only reason to quit.

I agree that you have to quit when you have exhausted all the options and resources at your hand. There are business owners who do not surrender that they would borrow money. For some it is unfortunate to go bankrupt with a loan to pay for the failed business.

 

[Mayox25]

When your business fails you have to go back and do an evaluation of what might have gone wrong to make corrections and recapitalise. If anything goes wrong again recapitalise for the last time and after that if it fails again then leave the business.

 

[Ralphjoe]

When your business fails you have to go back and do an evaluation of what might have gone wrong to make corrections and recapitalise. If anything goes wrong again recapitalise for the last time and after that if it fails again then leave the business.

This is also my mentality when it comes to a business that fails because they will know what actually meant that business to fail is to going back to the drawing board and then everything worked actually made the business to fail in the first place and after discovering what made the business to fail then we can start up the business again and showing that we do not make the same mistake we made in the first instance I'm starting of the business.

 

[Good-Person]

I think a great businessman always avoids such kind of scenario in the first place. A good planning with a lots of investments is the key to make business successful. However, one should try his or her best to make any business successful. If the things are not going the right way, then a person should focus on starting a different business before he runs out of capital.

 

[Skysaint]

As long as the losses you're making are minimal and it isn't continuous and you have a planned out way of solving the challenges you're facing if not I think it's best to withdraw when it seems like you're out of better ideas

 

[Psalmseen]

Actually, in my personal dictionary, there's nothing as such as quitting. Once business throws lemonades at me, I make lemons from it. So I don't advice entrepreneurs to quit after giving it some time because business is for the strong

 

[Ruth]

Personally I don't give up easily on thing I truly care about. For me to reach to a point where I give up on a business it means I have tried everything I know to do and apply patience. Even at this stage, if someone has a new idea, am willing to try again.

 

[Kingmarvex]

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?

Mindset oh...if you are into a business that is not making you any profit or even sending you more into debt you should study if the business is right in the location or if you are applying the right approach.

 

[Chibson]

It is quite very important to be patient in your business especially if you have the right knowledge of how to run that particular business. But in the case whereby you do not have the proper knowledge it is better you quit and venture into other useful things.

 

[Ralphjoe]

As long as the losses you're making are minimal and it isn't continuous and you have a planned out way of solving the challenges you're facing if not I think it's best to withdraw when it seems like you're out of better ideas

But there is no time in a business where you will not experience any form of loss at some point in time of the business but the most important thing is that the times that you have experience profit should be much more bigger than the times that you are experiencing loss in the business.

 

[Hojo]

Giving up is losing , you should ask your self questions like why you even started the business , then when you realize what was your main aim , the you should calm down and wait for the appointed time

 

[Setfragil]

A failing business can be stressful and demoralized for someone to cope and manage. Before you quit your business, you must have done every necessary things to better the business to to avail.

 

[Sotherefore]

A failing business can be stressful and demoralized for someone to cope and manage. Before you quit your business, you must have done every necessary things to better the business to to avail.

It's not really easy to quit a business just like that considering the fact that you have spent so much on establishing the business .you must look for a way of how you can revive the business.

 

[Richard92]

O

One should be patient to the last straw before giving up on a business structure, you should have tried everything to safe the business and if there's nothing else to do in saving the business , then you have to let it go.

You should be very patient with the following business see you you find out that that business product is no longer available in the market before you quit.

 

[Ezekiel]

It is very wrong to quite a business because of high expectations of profit and low yield of profit especially when you do not know the cause of the low profit in the business, especially I it is a new business.