How long should one be patient with a failing business before quitting?

[Kingsley]

I believe that when you start a venture, and the profits are not what you expect, you should evaluate where the faulty lines, what you are doing wrong and try to correct it. When you start a business you should project and know if it is viable according to the demand in the community. If after reviewing it and there are definitely no options to restart, it is better to stop.


Again it would depend on the type and size of the business. The bigger the business, the longer you can wait before you surrender. However, when the capital is being eaten by losses you have to decide soon when and how to close shop. It is not easy for the workers to lose their job so there should be consideration on that matter.

Knowing the limits of the business really matters.

What is your take on this?

 

[funmi]

I don't think it is a good idea to quit a business when it is failing. In as much as there is life, there will always be hope. Quitting means you are giving up on the business and on yourself. So we should always be patient until everything turns out well and good again. The business may not look the same way it started but you can keep on trying till it gets better.