I don't think you should cross a mind of an entrepreneur to give up on your business idea but if you have tried it for more than a decade and no good reasons as it is enough to give up.
How long should we wait before giving up on a business?
- Thread starter Claraviolet
- Start date
That is right. One should never give up on a business. Especially if there is still room for improvement or making necessary changes. It is only when you want to go into another business that you should leave the other one.
Giving up.in business is never the quality of an entrepreneur. an entrepreneur is someone who is not supposed to give up in business no matter how but to search for available solutions to his business in other to.make it strong and prosper. but as long as you can.
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Well, in my opinion when it comes to the right time for you to give up on a business is after you have employed all the necessary means to revive and rebuild the business but all to no avail.
Well it depends. Personally I think patience is a virtue that is needed in business and to build a successful business takes time,but then some businesses have no prospect and have failed so it comes down to the owner to be able to detect that
Seriously, the main problem is that most people who are jumping into one business or another are not really taking time to research on the business to know the strength and weaknesses of the business.
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Giving up no matter the condition of the business isn't a nice idea. You can think of how to improve your business or you consult business experts for tips to improve it. Giving up won't make you grow big
It's true there are times in a business when it seems to have been lost and further attempts at salvation would only means more loss, I think that's the point to back out and restrategize to do better
When your dreams have stopped. Remember back when you were so excited about your business?...
When you realise you no longer like your customers.
When complaints are up...
When there is a sloth syndrome.
When the money isn't just there. Then it's time to give up on that business.
When you realise you no longer like your customers.
When complaints are up...
When there is a sloth syndrome.
When the money isn't just there. Then it's time to give up on that business.
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The fact that 'waiting long' on a failing business worked for Mr A, doesn't mean it will work for Mr B.
It is good to give your business a second chance to resuscitate. During this time, mistakes that were made earlier can be corrected. Every business owner should know when his or her business has gotten to a point where it can no longer be resuscitated, at such point, quitting is best to avoid waste of funds.
There is no time you can give up in business unless the business is not giving you anything, then you can try another way forward in order to make it move.
True, so how long would you wait and keep trying a particular business before you rule it out as not Working. Would keep trying the business for weeks, months or years before you finally decide to quit the business?
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Most businesses will always make you to be at lost at all time and you shouldn't be addicted to something that is making you lose all the time without gaining profit.. give up and look for something else if you have tried all your possible ways to make profit from that business.
Giving up on business isn't the best idea. When you give up on a businessit means you are not capable of handling it. Or you are not worthy of the business.
There is not specific time to quite a business if it's not progressing but 4years is to long. The signs are always there to know whether to give up or not. Signs like you are gradually losing passion for the business, the profits is not fault coming, you force yourself everyday to go to your business and customers are not longer satisfied with your services etc.
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Yeah, that is in the case of giving up too early. But sometimes, the losses or non profit is just too much that it even stresses you to be in business. In that case, it is much better to let go of the business and try something new.
Yes. But don't you think you lose enough.i will suggest you try your possible best to revive the business.there must be a way to revive it.but quiting will not be the best option.
I have been investing some money into crypto trading and now I am finally leaving this because it is just too hard to predict the price of crypto and when the value fluctuates, it takes A LOTS of time to come back to the original value we actually invested.
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Am not so much in love with that phrase "giving up" but sometimes you need to actually quit to help matters. Some folks do go into a business because their friends are into it, you need to think past that and settle for stuffs you're good at
If I was in this position, I would give up on the business the moment it starts making more losses than I can afford. I would not continue with the business if the debt increases and it is greater than I can afford to pay.
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