Well, the op used the word 'failed'. If the business is still in the stages of failing them it probably could be saved but if already failed, it wouldn't be too easy to achieve.
How long should we wait before giving up on a business?
- Thread starter Claraviolet
- Start date
I don’t think there’s a general time, the time you might have to wait for your business before giving up on it might be different from the time others might wait for their business
When you find yourself putting your money and no change in its upward trajectory, it's time to walk away. Cut your losses if your efforts aren't shifting the needle in a meaningful way and you need to continue taking on debt to function. Carry it out. There are other options to consider.
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Before you should finally leave a business completely, you should have done all that you need to do to salvage the situation. If it still fails, you should quite the business for another
On a more serious note you uncle made a very big mistake,since he could wait that long for four years I don't think he should quit the business anymore, because normally if there is no profit for six years you change to something else.
This event is the main reason why carrying a very good business plan is important because you can never tell what will happen. That is why you need to check the market, do your analysis before setting up any business at all.
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i don't think there is a stipulated time or period that a person should give up on a failing business rather know what could be done. Running a wanting to run a business the person ought to be aware that such happenings is something that should be expected.
Depends on your capacity. If you are financially strong and if you have enough funds to bailout the business or clear the debts, you can contine it for a while.
Giving up in a business is not really easy as they think, I can see that you will only be able to give up in a business when you find another alternative that you think will be better ,that is when you can give up, if the business is not profitable you can think of giving up
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That is also a factor,but what one got to understand is that business and growth is a long trem project,if you have put in all your strategy into the business and it seams not to be working,then the strategy should change and device another means of doing things.
Post automatically merged:
That is also a factor,but what one got to understand is that business and growth is a long trem project,if you have put in all your strategy into the business and it seams not to be working,then the strategy should change and device another means of doing things.
Post automatically merged:
That is also a factor,but what one got to understand is that business and growth is a long trem project,if you have put in all your strategy into the business and it seams not to be working,then the strategy should change and device another means of doing things.
Some businesses requires a really high amount time in order to gather momentum or for its users to see tangible returns. 2 years should be a good time bro.
How long is too long? The answer varies depending on the type of business. That is why one needs to have the right information before venturing into a business. Plans and implementations will help the business to grow quickly. But if it doesn't apply all, one can still wait for some time and check the fluctuations to see how to improve
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I would make sure to make good enquiries, in depth research about it so that I do not have to quit a business even if it is to employ the services of an expert, a way must be found.
One should wait until the business is non-existing anymore and people no longer for tonight such product again and it is out of date before he or she can be able to give up in such business.
People should try to manage their business in a way that they do not experience failure because it will not be something of happiness for you to lose so much in a business you have suffered to start
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A fast rising business should not take up to six months before it becomes a well-known business but most business sometimes have some the challenge and delay and it may take up to a year before it is known
Six months may not actually be enough for your business to be well-known and trusted, because a lot of people will still doubt the authenticity of your business and the products you are offering until a long time.
It is proper for every business to try to have an invalidation point right from the time of planning so that you will be able to know when all the failure cannot be reversed again.
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I prefer trying all my possible best on my business until can finally be convinced that there's nothing again that i can do to to revive the business, then i will finally let it go,
Yes this is better so when you finally let go, you can be sure that you have tried all your possible best and you put in all your efforts and your conscience would be clear.
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