How long should we wait before giving up on a business?

[Snazzy001]

You can wait for as long as the business is still in existence.failure one time in a business does not mean you will continue to fail in the business

 

[Skysaint]

As long as you've got a plan on how to face the business challenges you're currently suffering from and have also implemented it. It's best to wait and see if the method will actually work out before contemplating on giving up

 

[Psalmseen]

No.. I mean not at all.. You should never ever give up on a business. Not even once. There are definitely ups and downs in life and definitely, there are ups and downs in businesses too. You have to make sure you overcome them. Don't give up

 

[Chibson]

You need a business venture, if you're not making profit then I don't see the point to continue running the business. So it is important to think twice.

 

[Blessingedidiong]

There is no particular duration one has to wait before giving up on a business. If a business is not growing after all efforts put into the business and all managerial factors are in order,the business should be financed again. It is very pointless financing a business that is not yielding profit.

 

[Ruth]

You have to let go of a business when you've done all your best to keep it above water and it keeps failing. But if you're really passionate about that business then you should consider asking for help from others. Perhaps you'll get new ideas from them.

 

[Ralphjoe]

I would not advice to stick with a failed business that despite all efforts could not be resuscitated, it is better to just let go and move on.

As for me I would never advise anyone to abandon a failed business because no matter how failed that business has been it has a potential of being successful with the right strategy and plan to reinvigorate the business back to success.

 

[tuna89]

The moment you notice that you are getting loans and still not able to service the loans or pay back and you notice the business is only running at loss, at this point, you give up. That's why i do not advice loans for businesses.

 

[Kingmarvex]

It depends on the scenario, if you think the business will not lead to anywhere in the future why hold on to it? But if you feel the business has a better future prospects then stick to it

Just be careful it is not a business that is waiting to bloom tomorrow and not today, and be sure your are not the one after quick profit and thereby killing the business

 

[Hojo]

I don't think ending a business halfway is a good idea , I suggest before starting a business you do a research in every corner of the business

 

[Ezekiel]

An inventor or business man should be open minded,he or she shouldn't think of giving up as long as he or she is not repeating the same mistake,the best is to keep trying hard and applying new skills to enhance the progress of the business

 

[Filicit]

If a business is not working then there is something that wasn't properly planned or not even planned for so it's not to sell but fix the problem

 

[Sotherefore]

If a business is not working then there is something that wasn't properly planned or not even planned for so it's not to sell but fix the problem

If a location of the business is actually the problem why the business is not making a reasonable profit then there is no how one will be able to do it than to abandon the location.

 

[Snazzy001]

I want you to remove given up from your heart and give yourself the positive vibe of always continuing and persevering because one failure doesn't mean failure forever

 

[Lens]

Normally, you are expected to nurture the business for at least 6 months or more before expecting returns. The bottom line is that there are investment that would take years before you would start reaping the benefits. One of such business is real estate. You would not make profit until 3 to 4 years depending the location of the property.

 

[Filicit]

If a location of the business is actually the problem why the business is not making a reasonable profit then there is no how one will be able to do it than to abandon the location.

That is why we are higher animals, we have complex reasoning and can do anything we set our minds too. If location is the problem then working with logistics companies to get you your needed materials faster could be an option

 

[Kelly5]

You should give up on that business whenever your guts tells you you should. You must have tried all you can to make things work before coming to that conclusion anyways

 

[Abigael]

If a business is not working then there is something that wasn't properly planned or not even planned for so it's not to sell but fix the problem

Yeah, right. One should do all means to fix a problem in business and not give up early. Most problems usually start from the planning stage and so you should check the wrongs you did and correct them.

 

[Ghost1]

Depends on the business. I believe there's no specified required time to wait. Just try to analyze everything, if it seems the business will remain dormant just quit

 

[Mark04]

What is the ideal time we should wait, if there is no progress in our business?
Is it a good idea to keep on doing it for a few months, even if there is no profit? My uncle had kept his business for almost close to 4 years before giving up on it. Now, he regret for wasting all those years. So, I have been thinking about it a lot these days. Do you guys have any advice for me? If so, please do share it here.

It does not have a specific time of before giving up on the business,if the business is not moving as you expected then the person should quit and look for another business to do ,that's all.