That is not a wise thing to do especially when the business you trying so hard on, other people are doing and are succeeding but you are not. I know you have heard stories of Amazon or bill Gates. Those stories hardly had any competition when I started.
How long should we wait before giving up on a business?
- Thread starter Claraviolet
- Start date
As an entrepreneur it gets to a point when business doesn’t go well and you get frustrated and tired of all the strategies. The best time to end the business is when you are in big debt and have exhausted all ways to get money for the business. But it’s advisable to not give up on business rather you could team up with a partner and get the business moving.
You've to be patience for success.
Your startup probably won't be profitable in the early stages, or even at a longer-term or duration you just have to be focused and patience. Give yourself enough time to be successful before closing up the business
Your startup probably won't be profitable in the early stages, or even at a longer-term or duration you just have to be focused and patience. Give yourself enough time to be successful before closing up the business
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It depends on the type of the,
And given up in a business is not a solution. If u try all u can in a particular business and u see u are not progressing,the only thing to do is switch to another one and see through it.
And given up in a business is not a solution. If u try all u can in a particular business and u see u are not progressing,the only thing to do is switch to another one and see through it.
Don't give up. When starting it, think of your goals why you started it. Maybe there is still a way to survive it. If everythings else fails and your still loosing money instead of gaining, then maybe think it through. In planning the business, estimated time of breakeven point should be considered. If for long it can't be reached, then time to think over.
If the business is your dream project and you are very passionate about it, and if there are no financial risks, and even when there is a financial loss if the loss is something that you can handle, I think you should continue to try on that business, you must change your strategy you must hire professionals, you must invest more, and try to make it successful.
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Okay, such is it, one without competitor have no challenge in the business he or she engages on. We ought to look up to people's drive and zeal to work, that motivates us to make sure we get to our own business level were success isn't a barrier again.
Once you have done all you need to do in a business like training and also investing in that business and everything you are doing is not yielding results the early the better you leave the business before it lands you into trouble.
First and foremost the business you started do you have passion for it, if yes and the location you are is not crowdy enough to move your business to the next level then you can move to another location if all the possible efforts have been putting still no avail, the business is not able to rise, then call on a consultant or rent the business out and be getting little little money from it instead of giving up on it. Because giving up is never an option.
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When you setup a business and you are not yielding profit, you can keep trying. The business may not pick up at the beginning but will become fruitful later. Most people give up when they are almost at their breakthrough point without knowing it. You should only give up when that business is almost about to drain you off your finances, time and effort.
It depends on the kind on business one is venturing into, some businesses are seasonal while some are daily business. But four years is to much to wait upon a failed business and still investing in it. The best I can wait is a year, then I change line.
In my honest opinion, I personally don't think you should close down your business if it is your vision and what you have utmost passion for, you have to give it your all and be determined on the fact that it's either this business succeeds or not. I am a person that believes that nothing is unachievable, you only need the right information
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It all depends on the type of business you ventured into, when you realise your in a wrong business you don't need to wait for ages before switching to another business, and if the business is some how moving you have to give it time to bloom.
Sometimes You're working at something. Working, working, working. And still you see little or no result. Then you think you should give up now but if you are working hard and never give up then one day you can get success and get full benefits in case of a business.
It's time to quit your business. Signs
They have stopped your dreams. Remember back when your company was so exciting for you? ...
Your flesh never lies. ...
From Fahgettaboutit. ...
Money is just not there. ...
Your customers don't like you. ...
Complaints have gone up. ...
Syndrome of Sloth.
They have stopped your dreams. Remember back when your company was so exciting for you? ...
Your flesh never lies. ...
From Fahgettaboutit. ...
Money is just not there. ...
Your customers don't like you. ...
Complaints have gone up. ...
Syndrome of Sloth.
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You don't always have to give up in a hurry when you start up a business. Every business requires dedication, and patience and if you have this at the back of your mind, you will never give up irrespective of the challenges you face in the business.
If you are not making profit from your business and your overheads are tripling, you need to asses the business criticality, draw up your books, look at your records and try to find out where the problem lies, once you identify it give the business another 3 months to improve on the mistakes, if there is no change it's time to quit!
Business venture can be a compensating venture. Be that as it may, battles and disappointments are genuine for most business visionaries. Your business may be discharging cash. Or on the other hand your everyday life could endure because of the requests of your business. A few business people simply get exhausted with the business. The business they began ended up being something totally unique. Consider a business visionary who begins an eatery since he wanted to cook for loved ones. However, the real factors of running an eatery was not under any condition what he trusted it would be. The business you once adored is a steady wellspring of stress and stress. A few business visionaries penance their marriage. Others pay with their wellbeing. Eventually, for some, business people surrendering is the solitary acceptable option.so in a nutshell,when the reason for making a business isn't feasible somebody can consider quiting then search for something more worthwhile and requesting.
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Is not the mater of time is when you have the chance to give up a business .the reason is that everything in this life have is own time when you have the chance don't waste it up use it as you support to use it.
My opinion is these should be nothing that will make someone to give up on a business in as much as there is a and passion for the particular business from the onset. If a business is not working, the solution is not to quit but to look deeply and find out what is wrong or what we are doing wrong. It might be as a result of bad location or poor management.
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