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

[Setfragil]

To know how long for you to wait before giving up on a failed business depends on the time of failure and your other plans in moving forward. Once you think the business has gone beyond repair and you can no longer fund it, it is better to let go at that time.

 

[Justin]

It depends on how much money you have lost. If you have lost a lot of money, you need to stop immediately and start liquidating your business and pay the debts

 

[Delight]

those that are operating a bad and unplanned business end up losing and sometimes they can wait for a long time but the result will be more debt because the business will not be able to generate money, give up on any business that is not profitable and is draining your money.

 

[Chibson]

That's why it's important for people to always have knowledge and understanding of the kind of business they're venturing into.

 

[Razor1911]

It depends on how much money you have lost. If you have lost a lot of money, you need to stop immediately and start liquidating your business and pay the debts

A business can sustain as long as there are capital left in it. When the capital is exhausted that is the time the business will collapse completely. That is the time you should move on.

 

[Dowenship]

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.

That if the business was a failure, what if a business that as potential in the future or even at present but just that the economy is not favourable, will you still stick with business.

 

[Delight]

You should not wait for so much because you may keep losing and it might even land you in a serious debt,the best thing for you to do is to quit immediately when you observe that there is no improvement and people are no more interested in your business.

 

[Niftyyem]

That if the business was a failure, what if a business that as potential in the future or even at present but just that the economy is not favourable, will you still stick with business.

Yeah! Why not? The important thing is being able to see the future of the business realistically. If there is hope for it, then I would advise one should use all they can to salvage it.

 

[Jlife]

If a business does not improve after putting all the effort then I think it is the right time for you to think about quitting the business, the best way you should consider giving up on business is when the business is not improving or showing any sign of improvement.

 

[Dowenship]

Yeah! Why not? The important thing is being able to see the future of the business realistically. If there is hope for it, then I would advise one should use all they can to salvage it.

OK, another question, what if there's no financial power to sustain the business, what will you do despite knowing the potential of the business..

 

[Setfragil]

OK, another question, what if there's no financial power to sustain the business, what will you do despite knowing the potential of the business..

If you believe that the business have good potential to survive and you do not have the capital or resources to finance it, you can approach the bank for a loan or you can sell the business for someone who can afford to finance it.

 

[Dowenship]

Starting a business is not easy and if your business is not making progress you need to find a way to revive the business, giving up in a business that is generally accepted in the society is not something to consider as a good business personel.

If you believe that the business have good potential to survive and you do not have the capital or resources to finance it, you can approach the bank for a loan or you can sell the business for someone who can afford to finance it.

Hmm... that's the last thing i will do, first of all bank loan requires collateral and bank wont spare you more time if you are unable to finish paying up.

 

[GIFTMICHAEL]

I am a die hard business person, I'll stick on until success comes my way. If I'm not successful at the meantime i won't panic, I'll be driving on. Knowing too well the future will define it all through consistency.

 

[Delight]

the best time for you to give up in a business is when you understand that people are no longer interested to patronize you,when people are no longer patronizing you then obviously there is no need for you to continue the business.

 

[Ralphjoe]

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

The truth is that all businesses that were started where started because the owners at that stage in time thought that this businesses will succeed but in a situation whereby there feeling I don't think that it is wise for one to completely abandon them.

 

[Chibson]

It is very important and necessary that people have long-term goals and short-term goals. When you have such plans you can't abandon the business because of setback.

 

[Salimo]

I think if the one like the business he do , it is better to not give up even he meet bad luck in first days , for sure everyone would success in field he like .

 

[Shigobad2020]

Did you know the business might not be exactly a facile business, it might be the fault of the person handling it if we do a good research and we can turn the table around if we are serious.

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.

 

[Robust]

There's no specific time to wait if a business is going on well till you wish to stop. But I believe that when businesses don't work for you look for other means.

 

[eLdavis]

There are certain business with very good potential But lack of proper management or understanding can make the business fail. While there are some that the business is not just the right one for you and no matter how you try no good result comes out. I think before deciding on letting go a business, you should decide which category you fall into, if all you need is more study and certain changes, i would advice you fix this, time some time and work in it. But if you realize that is not the case then you better let go