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

[Axad. Mrb]

Most small businesses take at least 2 to 3 years to be profitable and become truly successful once they’ve hit the 7 to 10 year mark. Most small businesses take years to be successful, despite the overnight success of companies like Facebook.

 

[Godleads1]

Business is like a body that is struggling health wise. One will still try to save the body. But when it is lifeless, there is nothing we can do. The same approach is needed for business. If it's still struggling, you need to still continue. Paradventure it will be saved. So, try save that business untill there is no remedy.

 

[Niolaxx]

Well I believe that if you have ventured into a business so many times and there is no progress,then it's time for a change, don't waste your time and capital,and if you still want to continue the business hire experts

 

[Presh1503]

I believe that if you have ventured into a business for a very long time and it seems no progress rather than wasting your time and effort make a change and if you still feel compelled to wait hire expert or consult business specialist

 

[kayode10]

If you believe in the business the thought of giving up should not cross your mind. If you are thing of giving up on a business, at least you wait for five years before you think of giving up on the business. This period is long enough to test visibility of the business. Once the business refuse to take off in this period, it good to venture into another one.

 

[shakky2]

though sometimes you have to give up on an unyielding business for a better opportunity if you have tried everything positive within your capability to develop abd grow the business more.ghough giving up may not be an option for you sometimes but if it's the meant for you then you can move forward

 

[Abu4exel]

If someone is doing business and the business doesn't yield profit except loss, then he or she needs to quit it. But for how long will he or she exercise patience for before quitting? At most a year and at least half a year.

 

[Dorcey]

There's one important thing should know is that you don't start a business one day and start earning hugely of very well from it, remember business is always a risk you keep trying ,pushing ,give it different strategies for some months before you decide on quitting.

 

[Obaterof]

If you no longer have a passion for learning about building your business, doing better for your customers and keeping up with trends, that doesn’t indicate that you know everything there is to know. It means your heart and mind are no longer engaged.

 

[nasiusman95]

The weight of emotional attachment is enormous. Asking us to give up on our baby - that's just impossible. We can't bring ourselves to do that, even though in certain cases this is the rational, logical choice. And still, if we want to keep our sanity - and sometimes a roof over our heads - something has to change.

But how do we know the situation is truly hopeless, how do we know better days are not just around the corner? Sometimes it's the uncertainty that's the most difficult. If we knew for sure the enterprise was doomed, it would be easier to let go. If we knew for sure things would get better after a while, it would be easier to forge on.

 

[Defaith]

I don't think giving up a business you built with so much effort is ideal, in a situation whereby you have done your best and the problem keep arising then you have to seek knowledge from experts in the business instead of giving up

 

[miztersam]

To me their shouldn't be any reason to give up on a busuness , a business can surely run down probably due to mismanagements but proper restrategizing can wake up fallen business

 

[Milz]

Everything takes time. Even big brands took time to grow. If you have a vision about your business and as time passes it is not yielding the kind of profit you want, you can actually pause to re-strategize how to get the business up and running again.

 

[Ayokex]

I don't recommend giving up as a way out to a business that is failing, it's trying to cutoff a head because of headache. What I recommend in this scenario is for the business owner to apply a new approach in the running of the business. Different measures should be taken to ensure the resuscitation of the business.

 

[Ridorz]

After implementing all your strategies on the particular Business and its not moving any way forward. Even at that if you can still be consistent with the job, you can make it big at the long run

I think that's the best thing to do, if you make all your efforts on a business and you don't see any change, it's advisable to quit the business and find another one to be doing. But before you do that, make sure you try your best.

 

[Robrown83]

Your title is quite different from your write up but it is not advisable for someone to stay on a business that has failed so many times. Why wasting your time on it,when you can do another business. Do you know maybe your destiny not attach to it.

 

[Jlife]

You sure are the answers on how you can revive a business that is about to collapse because this is the thing you should do if you think your business is going to collapse than for you to give up ,giving up in a business means that you have work and you are not ready to face challenges.

 

[Malikshah53]

All real estate agents are paid commission based on the sale price of the home. Foreclosures are no exception. Since the bank is the seller, the bank is responsible for paying commission to the realtors involved in the sale. Commission is traditionally between 5 and 8 percent of the sale price.

 

[Nomad]

This was the question that I was facing when my business was on the verge of collapse. There were two option, either to invite a new investor or liquidate the business. I tried to invite new investor but could not find any as the business was a failing business

 

[MarieArie]

Before someone can give up on a particular business it will be that the business is not bringing profit anymore and when you try a new idea to change the situation is still the same thing. The best idea is to leave the business.

It's not always advisable to give up on a business during downtime. I will advise you to keep keeping on, put more energy that thing that is not going smoothly in your business. With persistence and consistency, you can always get better.