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

[Shigobad20201]

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.

Knowing when to start a business, Knowing how and when to upgrade your business and knowing when to quit is a good quality of a good enterpreneur I th online and offline.

 

[Setho]

If you have signs to believe that why you cannot be able to catch up with your competition in that space then it might be time for you to give up of the business. There is nothing to be ashamed about closing a business especially when money is involved.

 

[Sotherefore]

If you have signs to believe that why you cannot be able to catch up with your competition in that space then it might be time for you to give up of the business. There is nothing to be ashamed about closing a business especially when money is involved.

This is even simpler because in this case I only have to change location and then my business will be successful but what of a situation that the business generally is not lucrative. What should we do ?

 

[Partisan]

As long as you can wait. It could be that at the time you want to leave things change. Also instead of quitting, try the business in a new environment, try applying new methods of running the business in a completely new environment.

 

[Shigobad20201]

Though i dont like giving up on a business I started with my hard earned money and i have sacrificed a lot on the business , but when you have tried everything to let the business work and its not yielding , then you can sell it off.
We should wait until we have tried our possible best , then we must try and use another plan and strategy to try and solve the solution just to see if the plan will work before calling it a quit.

 

[Robust]

Actually quitting a business has no specific time, it is only how patient you could be but once you see that there is too much loan on your head and there is no any profit coming is better you quit and think of what next to do.

 

[Setho]

If you see that a lot of people have given hope on your products or there are too many competition for you to even try to make it then that is a time for you to abandon the project.

 

[nana kwasi1]

When u not getting the require salary u want and also things ain’t going on as plan from the beginning u will also feel like giving up when there is no progress also in the business

 

[Grant]

That's a tough one to answer. I think it depends on the market and what you're trying to do. There is a lot of things you can do for a business, but sometimes failing to come up with a sustainable money making idea, is commonplace in running a business.

I think the ideal time to give up is maybe a year or two after your business started. Sometimes businesses have a slow start and end up doing better with marketing & promotions. But if you're not getting sales, or landing anything, then you either have to go back to the drawing board, or give up on it. Or put it back on the backburner until a solution is figured out.

I'd say if you're not getting anywhere after a year or two, it would maybe be a good idea to call it.

 

[Alisco]

If only waiting would guarantee me that I will secure the job,I will wait but if no guarantee is giving to me I will never wait.

 

[Eli342]

If you discovered that your business is not progressing as it is for me, you should really take your time and consider your options. You may need to properly market your work or introduce it to others. You may also want to check your product to see if there is anything you should add. If so, you should really do your homework before proceeding.

 

[Good-Person]

Knowing when to start a business, Knowing how and when to upgrade your business and knowing when to quit is a good quality of a good enterpreneur I th online and offline.

i would not wait for a really long time if i am not being successful in a business until or unless i see any kind of room for improvement in the business that i am involved with.

 

[Skysaint]

You shouldn't have that idea at all while starting up a business because that would eventually happen to you. When starting a business, you need to make a decision that you will put your all into it no matter what.

 

[Sotherefore]

There's no actual time for this. You only have to make proper analysis to understand the future potential of your business. This will leave you with a clue if the business will be profitable or not.

 

[Chibson]

You shouldn't have that idea at all while starting up a business because that would eventually happen to you. When starting a business, you need to make a decision that you will put your all into it no matter what.

Probably, your mindset can most of the time determine the level of success you can reach in a business venture. If you have the mindset of giving up in a business you may actually not be able to harness the potentials of the business.

 

[Skysaint]

Probably, your mindset can most of the time determine the level of success you can reach in a business venture. If you have the mindset of giving up in a business you may actually not be able to harness the potentials of the business.

I do agree with your opinion though. I think that's the reason most would always tell you to think positive because what happens to us most times is a product of our own thoughts.

 

[Shigobad20201]

First , as an entrepreneur, we must detest from having a negative mindset on our business and must try our possible best to revive the business when its having problem before giving up.

 

[Good-Person]

Probably, your mindset can most of the time determine the level of success you can reach in a business venture. If you have the mindset of giving up in a business you may actually not be able to harness the potentials of the business.

Yes, it is important for a person to have a great mindset in the first place. This is important because if you do not have a good mindset, then you may not become successful.

 

[Chibson]

Yes, it is important for a person to have a great mindset in the first place. This is important because if you do not have a good mindset, then you may not become successful.

Probably, that is why the first thing people always try to teach newbies is change of mindset. When you are able to change your mindset you can accommodate some level of knowledge.

 

[Shahid987]

It is not uncommon for businesses to take a long time to become successful, and the length of time that you should be willing to wait before giving up on a business can vary depending on a number of factors. Some things to consider when deciding how long to wait before giving up on a business include the amount of time and resources that you have invested in the business, the potential for growth and profitability in the future, and your personal financial situation. Ultimately, the decision of whether to continue with a business or to give up on it will depend on your individual circumstances and goals.


It can be helpful to set specific milestones or benchmarks for your business and to regularly assess your progress against them. If you find that you are not making progress towards your goals or that the business is not viable, it may be time to consider other options. However, if you are still seeing potential for growth and success, it may be worth continuing to pursue your business, even if it takes longer than you had initially anticipated.