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

[Skysaint]

We should at least try every available option in order to revive the dying business in order to bring it alive , but if we realise our effort is not worth it, then we can leave it be,

That's it. Am not encouraging anyone to quit ones business for one petty reason or the other but you should know when you have come to your limit. You can't get stuck trying to revive something you know will take forever to achieve.

 

[Shigobad20201]

When trying to make sure your dying business survives by trying all your possible best on the business , you should actually know your limit and know when to stop in order not to waste resources.

That's it. Am not encouraging anyone to quit ones business for one petty reason or the other but you should know when you have come to your limit. You can't get stuck trying to revive something you know will take forever to achieve.

 

[Heatman]

When you know you've put your best efforts into the business and even so it is not working then it's probably time to give up. You can't do the same time over and over again and expect a different result.

If the only thing the business is generating for you is expenses and losses all the time I don't see any reason why you should keep investing your money into it because you will become bankrupt sooner than later.

 

[jay]

If you fulfilled all your duties in your job and still did not see any progress or anything, then you must change

Making profit in business is one of the things that any business can't do without because it is the actual essence of starting the business in the first place and once you don't make that money it is of no use still being in the business.

 

[Skysaint]

When trying to make sure your dying business survives by trying all your possible best on the business , you should actually know your limit and know when to stop in order not to waste resources.

Yeah, you got that right. There should be a limit to your struggling when you will have to discover that you're just wasting resources unnecessarily, then you will have to try out something new and different from your present business.

 

[Syldan]

Actually given up on business is not a characteristics or qualities of a good entrepreneur. an entrepreneur is someone who is not supposed to give up on business but always encourage people and finding out solutions to his business.

 

[Achawaskey]

There must be reason why your uncle quit his business, which you did not state and whatever reason it is your uncle did not do his background work very well before setting up the business, it could be financial or competions.

 

[Bookwormlux1]

Make sure you retry and change your strategy at least 3 times before you ever get to give up. Even the new business you may want to start IS not guaranteed at all.

 

[Shigobad20201]

There must be reason why your uncle quit his business, which you did not state and whatever reason it is your uncle did not do his background work very well before setting up the business, it could be financial or competions.

You are a good businessman , and that's exactly how a good entrepreneur ought to do , when you are having a problem in a business , you must try and use different strategy before giving up.

 

[Electrohunter26]

Well it depends but in most cases a few months but as I said it depends and you will be the only one who can decide if it still got enough momentum so you should keep it running

 

[Setho]

There are so many people that are caught up between giving up on a business or staying out long enough before they can be able to salvage it. I believe that it is best to give up on a business when you have strong reasons to believe that it is no longer going to be moving forward and you are losing too much money.

 

[Shigobad20201]

Well it depends but in most cases a few months but as I said it depends and you will be the only one who can decide if it still got enough momentum so you should keep it running

It depends on the actual business you are doing , there are some business that you will realise that it does not have any hope again , while if you keep working on some business , it will resurrect

 

[Syldan]

I dont think there is any specific time that is fixed for someone to wait on his business but as long as you are still alive you should always find out better solutions to your business problems.

 

[tray591]

There is no specify time which a business owner need to give up I will advice that you keep trying because there is nothing wrong with trying also look at where things need to be corrected in your business work towards those things and your business will take a fine new shape

 

[Setho]

When to give up on a business is a very important thing. Ordinarily if you are not achieving your business plan at the appointed time then that might be a very good time to consider that the business has failed and then move on.

 

[joy101]

Is not really good to give up in a business you should keep on trying, because for me I don't really give up in a business I keep on trying in the business in order to succeed in the business.

 

[Syldan]

Given up on business, actually is not a quality or characteristics of an entrepreneur. an entrepreneur is someone who is always confident, creative and always seek for knowledge on how to handle challenges that comes his way and not to give up on his business.

 

[Shigobad20201]

Giving up on a business you started from scratch is not a good thing to do by an enterpreneur, but trying to look for solutions and working hard to revive the business is the best possible solution.

 

[Bookwormlux1]

Giving up is never an attitude of people who are really interested in making the most out of anything they get involved in . This is a major reason why you should try as much as possible to not give up at all , no matter what happens.

 

[Setho]

Knowing exactly when to leave a business is also another very good skill . I believe that when the business is no longer with earning profit and you cannot see it going back to the old way anytime soon then that is a very good time for you to leave it.