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

[Alexandoy]

When my retailing business suffered from lost clients (that were pirated by a former partner) I tried to float the business even if I can already see that it will be sinking sooner or later. At least my cash flow was fine and I think the business can operate for 3 to 4 months with the little revenue coming in. That's when I decided that after 4 months it will be closed if things would not change for the better. I was right on that because things remained with a small or no profit so I was forced to close the business.

 

[Josemendez]

On the contrary , I will say that there should be no need in giving up on any business , provided that you are confident in the business.

 

[James]

It is all depend on problems you are facing and if you fail to recover from mess and you spend all your knowledge, strategy and efforts and you still in trouble then you should give up your business without any delay to avoid complications.

 

[Abonyo Dickens]

Before quiting we need to understand why the business is failing in the first place. Maybe you are doing business because you saw others doing it. You never considered the risks in it neither did you do a feasibility studies before starting it. Poor management/ financial management. The reasons for business failure are so many. You need to do a cross check on the issues before quiting

 

[Deysi16682]

What is the ideal time we should wait, if there is no progress in our business?
Is it a good idea to keep on doing it for a few months, even if there is no profit? My uncle had kept his business for almost close to 4 years before giving up on it. Now, he regret for wasting all those years. So, I have been thinking about it a lot these days. Do you guys have any advice for me? If so, please do share it here.

Hello, the estimated time to see the results in terms of minimum profits is 1 year, if there is no result, you have to implement marketing strategies, use the networks for advertising, change the administration or any other plan that makes them generate demands in the product or service to offer

 

[kharvest19]

A good business man must learn to endure
Keep enduring till there is a break through

 

[Arwhank]

4 years of maintaining a business is not a short time, but if there is no progress, maybe you shouldn't hold on to the business anymore because if staying afloat could make you suffer even more, maybe you are not suitable for the business you are running now, the solution is to open a new business which is different from the previous business. maybe by opening a new business you can rise from failure starting with new things that might benefit.

 

[Trexxxy]

As soon as you discover there isn't other means of revival or a way to improve. Quit the business and invest the energy into something else.

 

[Deysi16682]

A good business man must learn to endure
Keep enduring till there is a break through

hello, the purpose is that I looked for strategies to change the situation and increase profits, not hold on until bankrupt

 

[GoldenLady]

If others have done the same thing with great results, I can stick with it for at least two years, during which I will learn the ropes, but I would have another source of income.

If not, just dump it and look for other alternatives.

 

[Bookwormlux]

Six months or at most a year should be enough to decide whether or not to continue with any business. Do not give yourself false hope except you have something else fetching you money.

 

[Golden_ear]

One should never give up against a business, but instead one should always improve on how to make the business to grow. And can be done by consulting experts on business.

 

[chicnthin]

If all of the strategies and back up plans has been implemented but still the business is failing, perhaps it is time to give up. Especially when all of the capital has been spent and if you have taken several loans.

 

[Donkiz]

Winners never quit, while quitters don't win, if a business is not moving as expected throwing in the towel is never the best option, because if you do and move to another business there's every possibility that what hindered the first business might equally bedevil the next one, because you cannot be doing the same thing and expect a different result. Try to find out what you are not doing well and adjust then you will see the result.

 

[Defaith]

it's not good to give up easily on a business because sometimes what happened might be a challenge and business is all about taking there are many challenges in business sometimes why business is all about taking risks you see it as if you are losing it but you are not if you are able to study with a business you won't give up before you can give up on a business you have to study the business at least for a while don't give up easily on a business

 

[Ojonuyo]

It is not advisable to give up on a business so soon. And it is also not easy to Abaddon a business you have invested in so much. I say, you can give up when the loss you get from such business is affecting you financially and health wise.

 

[Erik4150]

If you keep loosing money to a business, you have to leave it and save your money. Count your losses and if you think it is too much for you then sell the business and move on.

 

[Ralphjoe]

There is really no ideal time to wait, if you feel you can no longer sustain the business then I think they would be the right time you say no, take your time and focus on another business venture.

 

[Olajidey]

To be successful in life,the type of person you have to become before you can become what you want to become really matters.

Nothing goes for nothing. If you want to be successful you must be ready to pay the price.


Therefore if you want to move from the bottom to the top you need to learn how to discipline yourself

 

[Tunnexisco]

What is the ideal time we should wait, if there is no progress in our business?
Is it a good idea to keep on doing it for a few months, even if there is no profit? My uncle had kept his business for almost close to 4 years before giving up on it. Now, he regret for wasting all those years. So, I have been thinking about it a lot these days. Do you guys have any advice for me? If so, please do share it here.

Business itself is a risk!, But, dealing with long time losses, it would be better for an idea entrepreneur is to change direction, there make broader investigation and appropriate marketing survey before embracing another type of business, in order to avoid another loss in business.