Business Ideas How long should one be patient with the business that did not give profit before stop ??

[Mataracy]

I believe it is a normal thing for one to start a business with the expectation if making profit.

In fact the main motive of doing business is to make profit. But in a case where one is doing business and the business refused to yield profit one will surely be discourage.

When you start a business you should know may be the community where you are is good for the business or not.

After you might have taken the review and there is definitely no option to restart, it is advisable to stop the business so that you will not loss completely.

When should one be patient before quitting unprofitable business?

 

[btaliat]

You don't give up on business. You studied the reasons for failure and you work on it. That's why I do tell people to do feasibility studies before venturing into any business. This will let you know impending problems a business may face and how to combat it. Persistence wins over business and we don't need to give up easily.

 

[funmi]

This is a very good question, as sometimes people rather give up too early in their business mostly when they feel the business is not giving them their desired output. Business is more or less related to a small child, it takes a lot to nurture a child and bring that child up to speed. It is also just like when one actually plants a crop, it normally takes time for the crop.to grow and come full maturity and another thing we must realise is that all crops do not take the same time span as some crop will certainly take longer than others, for instance tomatoes take less time as compared to cassava which takes longer time to grow. We can not compare the but of them together.. And there are some farmers that could grow their casava faster than some others. So when we are running a business venture one of the major ingredients that we need to make it will be the ability to be very patient and move with the trends. Sometimes the profit could be coming in drips and drops but with time things will surely improve as Rome was not built in a day.

 

[Sotherefore]

Sometimes this is always a very difficult decision to make because it is not really easy for you to understand or predict the future potential of a particular business most especially a business you have started already especially when it is not generating the required profit you expected.

Well you just have to try as much as possible to apply all possible means to make sure the business succeed and if all this means I've been applied and the business is not succeeding I think that is the best time you should consider giving up in the business because if every possible means has been applied for the success of the business and is not yielding the required results then the business is not meant to be successful.

Well prevention is always better than cure and in everything we do we should always try as much as possible to carry out a proper and serious research concerning the area of business we are concentrating on. We can also invite the help of an expert if possible and all these things might really help you to understand the type of business you are to establish depending on the location you are interested to start up this business.