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View Full Version : When Do You Know That Enough Is Enough?



asheagold
01-18-2014, 05:29 PM
When you've put your whole heart, your blood sweat and tears into a business, then it's like your baby. Usually you've invested thousands of dollars, countless hours of toiling, sleepless nights and undoubtedly a pile of secured and/or unsecured debt in this business. However, when the numbers continue to be unbearable and there is no peace in it, when do you decide that enough is enough?

cpefley
01-20-2014, 01:51 PM
That is heartbreaking, and a very tough question to answer. I think that if you still really enjoy putting in the effort, and believe in your business with your entire being, then it is worth seeing it through. However, if have lost your faith that your business will ever be profitable, maybe it is time to step back and reevaluate the pros and cons. Maybe talk to someone who you really trust about their opinion of the possible future of the business as well. It is hard to keep going if you don't have a proper support system.

nick87
01-22-2014, 04:51 PM
It's so hard to know when to call it quits. Sometimes businesses take a while before rising up and becoming huge, and you're tempted to hang on to see if that happens. Plus, who wants to give up when they put so much hard work into something? It's really a gamble because you never know how the public is going to receive your business, how the economy will change, etc., and that gripping "what if" question lingers on in your mind. Sadly, if you're losing entirely too much money for a long period of time, most of the time it's time to call it quits while you're ahead. You don't want a failed business venture, which may have been a great idea but in the wrong time and place, to suck you dry and prevent you from moving onto the next business venture.
The positive thing about entrepreneurship however is that when one business fails, you just start from scratch with a new idea, and you'll benefit from each experience. It takes a lot of failures before you end up finding success, so don't be too down on yourself if you decide to quit an unsuccessful venture.

delusional
01-23-2014, 02:49 AM
It's really difficult to accept defeat. Most people see their business go downhill but don't want to give it up and end up going bankrupt. The first year your business makes a loss, it should be a big warning sign that things need to change and it's still possible to change enough and turn the business around.
It's best to see the warning signs early and get help and ACCEPT help (which can be very difficult for most business owners).

owesem75
01-23-2014, 07:33 AM
As person, I would say, I am not a quitter. In terms of business, if for as long as I have clients even in small numbers, I will do my best to remain in business as there is still hope to succeed. Losses doesn't mean you are defeated. As some posters here said, you just have to calibrate and adjust some areas in your business and once you found the weakest link, you can do the changes and see what happens.

I will call it quits, when the time comes that nobody is ever interested in the services/products that I offer.

fredkawig
01-23-2014, 08:07 AM
That's easy. When all your sales/income for every month you have is negative or (net loss). What I mean is that instead of gaining profit you are losing money and your business has become a liability rather than an asset. I know that you must love the business especially if you are the one who established it but let us take a look on reality and understand that deficit every month will leave you bankrupt in the end. Unless you're a rich person who doesn't care about profits but just owns a business for fun then you should seriously consider the income you are getting from your business.

oregano
02-05-2014, 08:49 AM
When you've put your whole heart, your blood sweat and tears into a business, then it's like your baby. Usually you've invested thousands of dollars, countless hours of toiling, sleepless nights and undoubtedly a pile of secured and/or unsecured debt in this business. However, when the numbers continue to be unbearable and there is no peace in it, when do you decide that enough is enough?

I think you've really answered your own question! ..."when the numbers continue to be unbearable and there is no peace in it" - That's when you need to make a drastic change of some kind. The question then becomes: how do you get rid of this millstone around your neck?

Depending on the value of the business and whether it has taken on any debts, you could either close it down completely, sell the whole thing, or bring in a partner of some kind who can contribute funds to help ensure that it can keep going and start turning a profit. This partner could be a strategic partner who will work with you in the business and contribute expertise, contacts, experience etc. as well as money, or an equity partner who plays no active role in the business part from bringing in cash, but who will expect to generate an income from it before too long. An equity partner can be an individual, another company, a venture capital fund or angel investor, or even a bank.

It sounds like you don't really want to give up, but you just can't cope financially right now, so perhaps a partner or investor of some kind would be the best option for you. Of course you will need to convince them that your business would be viable if it had more working capital, and that you can really make it work. Good luck, and I hope it works out for you!

Lodismel
02-07-2014, 04:23 PM
I would say that when you lose interest and it is no longer profitable is the best time to quit. Don't be too fast to give up though. There are a lot of businesses that have highs and lows. It's unfortunate, when you really have a passion for something, to see it not generating the interest that you thought it would. Similarly, its no fun to see people lose interest in something that you had previously established. Maybe the best answer isn't to quit but to revitalize. If that doesn't work you have to know when to move on.

caveman
02-08-2014, 03:34 AM
When you see your profits declining and have absolutely no interest in coming up with new strategies. If you have lost the interest and motivation to keep going, I think that is when you would know. But if you are still have new ideas and are still willing to go for it, then you should go right ahead and keep trying.

jubvman
02-08-2014, 12:33 PM
It depends on how bad you want it. If you're dedicated enough eventually you WILL succeed, period.

If your current business isn't going so well, then try something else. Your current business isn't a failure because you have gained so much experience and you can use this experience when starting your next venture.

It's never a good time to quit, just persevere.

her27
02-10-2014, 05:48 PM
It's interesting how starting a business produces so much excitement in the initial stages; however after a while or at a certain point it begins to feel like a real business with all of the ups and downs that come with owning a business. I think if one gets to the point where they feel completely drained from running a business, either because of a lack of funds or if they're just burned out on it then maybe it is time to look at some other options like working for someone else for a while until another interesting idea or business venture comes along.

Taru
02-12-2014, 01:11 PM
I think it's safe to call it quits when the projected losses, whether it be concerning effort/manpower or capital grow too far apart when compared to projected gains. It's important not to get too attached to these things and see them for what they are which is just a profit generating structure, meaning it doesn't really matter how much you love the business or how much you are interested in a certain niche. If it ceases to work and be an effective tool, then it is important to keep in mind that you have to eventually move on sooner or later.

DomDom
02-12-2014, 03:43 PM
I think it's safe to call it quits when the projected losses, whether it be concerning effort/manpower or capital grow too far apart when compared to projected gains. It's important not to get too attached to these things and see them for what they are which is just a profit generating structure, meaning it doesn't really matter how much you love the business or how much you are interested in a certain niche. If it ceases to work and be an effective tool, then it is important to keep in mind that you have to eventually move on sooner or later.

I would add to this, when it starts interfering with your real life. The huge amounts of stresst and effect on your family budget. When you get to the point you will get to indebted its time to quit.

jubvman
02-14-2014, 09:48 AM
It's interesting how starting a business produces so much excitement in the initial stages; however after a while or at a certain point it begins to feel like a real business with all of the ups and downs that come with owning a business.

That's the best part for me, when your business finally comes to fruition. And you can sit back knowing that it was built only from an idea, or a thought. Amazing.

Rainman
02-14-2014, 11:15 PM
If you have no pleasure in what you're doing, then it's time to call it quits. It doesn't matter if you're making money or not. If you don't enjoy what you're doing, then it's best to move on and try another business because your attitude determines whether you'll succeed or not.

CSomm
02-15-2014, 05:21 PM
Never believe anyone that says that quitting is a shameful or cowardly thing---I think it can be quite the opposite, as long as you are doing it with your eyes wide open. Some things are not for you, or are not working out, and there is nothing you can do about it. You can always kick the dead horse, but unless you know you can find a new way to make the business profitable, it's better to just accept that the horse is well and truly dead, and find a new one. Don't even be disheartened---quitting is a decision you should make longer after your emotions have dried up on the topic, so you can see clearly and operate based on logic. Good luck in your next venture!

CeliVega
02-18-2014, 01:20 AM
If you are speaking from personal experiences and your own point of view, it must be a hard time for you. Get a hold of yourself man. If you have a family, I think it's better to seek alternative incomes to support yourself and them with what you currently have instead of pouring them all on your current business, hoping that it will become profitable in the future. I mean sure, if it DO becomes profitable, then it's very good and all, but what if it actually leaves you in debts? If you have a family I think it's unwise to let everyone lead a hard life.

autograph
02-19-2014, 09:27 AM
Hello there, I am so sorry that this happened to you. I hope you managed to somehow defeat all the odds and came out a winner. Personally, it is really hard to quit when you have pretty much invested everything into your business. It is literally another set of entity that is extremely meaningful to you. Undoubtedly, hope will remain; we will hope that our business will turn out to be alright. I'd like to quote Nietzsche for this scenario, "Hope is the worst of evils, for it prolongs the torments of man".
My only advice would be to trust your guts. Once it tells you to quit, follow it and do not dwell on the past failures; you can start fresh and hopefully you will think of a greater business idea. I know this is easier said than done, but I do hope you could turn your business around.

Lithium
02-21-2014, 04:20 AM
Usually, when you don't make a profit out of it, you should quit and look towards something else. But when it's you own work, I know what it feels like. You should, however, be careful. Passion can bring you a lot of money, but it can also ruin you. Be careful and don't exaggerate.

sofieb529
02-22-2014, 09:17 AM
When you're a small business owner , you're always fighting for the success of business! You care more than anyone about its profitability and its future! Once you lose that care and that hope, you might want to look at exiting in a way that you lose the least amount of money.

crucider
02-22-2014, 12:06 PM
It depends, if it goes to the point where you're stressed out 24/7 then I would turn down the notch a little bit. If it's affecting your personal physical/mental health then you really need to re-apportion how much work you put in to your company.

strokeontent
03-07-2014, 12:49 PM
I think that the most difficult part is to admit it to yourself that your business is unsustainable.

We are all slaves to our egos, and not being able to make it work may feel like a personal defeat, but you should always take the experience you get to good use.

Currently I am liquidating a 6 month old home based business. I was running it as a hobby and, I hoped, a complement to my job but unfortunately found myself pumping more and more of my money into it and not getting the returns I expected.

It wasn't until I actually went on holiday and took a breather that I realized I was making very little money and spending a lot of time and effort into this activity, and that was when I decided it was time to stop. Now I will liquidate my stock, take everything I learned from this experience and decide on what my next venture will be.

Sometimes just taking a break from it all and putting everything in perspective be enough for you to realize what to do next.

cpefley
03-07-2014, 07:11 PM
It depends on how bad you want it. If you're dedicated enough eventually you WILL succeed, period.

If your current business isn't going so well, then try something else. Your current business isn't a failure because you have gained so much experience and you can use this experience when starting your next venture.

It's never a good time to quit, just persevere.

That isn't necessarily true. Sometimes, it is the wrong business for you, and the smart people know when to switch gears, and get out. If you force a failing business, you'll end up losing your money and your sanity.

Gmac9100
03-07-2014, 09:28 PM
I think that you know enough is enough when you have nothing else to give. When you have explored all options, and your efforts have gone unrewarded. I think that is when it is time to throw in the towel. don't kill yourself trying to make something work, that obviously isn't going to. Take a break, and move on to something different.

cheapwebdesignchicago
06-23-2014, 03:08 PM
That is a tough tough question. Most small business owners that I talk to whose had to shut down a business (myself included) usually realize we probably should have shut it down sooner. Hindsight is 20/20 of course but even if foresight was 20/20, most entrepreneurs I think would have the hope/optimism/belief in themselves that they can overcome the odds to continue down that path. So give it all you've got until you can't give any more. When you truly can't take another step, you will know when. And if it turns out that it doesn't work out, you will also know you had to do it. It's what makes entrepreneurs who we are.

Best of luck to everyone struggling day and night to make their dreams a reality!

MahaKarthi
04-09-2015, 11:18 PM
A very intriguing and tough question indeed! When you've given your maximum and feel that there is no way out, sit on it for a while and try to look at it from a diff angle. If you are convinced that there is nothing you can do about it, you can then think of other options.

DavidZin
11-18-2015, 06:32 PM
Never enough You should improve about website or your self

James S
06-30-2016, 06:18 PM
That is a question each person must answer for themselves. It has to be right for you regardless of your answer. For me personally, as long as there was still some enjoyment and still some profit, I would continue. Tomorrow could be a brighter day. But each person knows in their heart when the time it right. Good luck with your decision whichever it may be.

zdkformations
06-22-2017, 07:47 AM
It's really hard to give up when you have a lot of hopes and added so much of efforts, money and definitely your sleep at halt. It's very difficult to each of us after investing triple of your investments in your business. But before thinking by your own to quit, i think you should consult someone who has an experience in your field and after that work on that part that he suggest and after then decide what you can do. If its works it's well and good, but if it doesn't than make a decision of quieting.

Spectracom
10-24-2017, 12:58 PM
Two of mentors gave me advice early in my career. First, "Never go into business without knowing when you are going to get out of the business. Plan in the very beginning of the business when you are going to exit it." Second, "Never start or buy a business with the intent of the business providing you just a job. You are in business to make money. You build the business with the plan to sell it at its peak, for the highest amount you can."

In the 5,000 plus business transactions I have been involved with, I have noticed that too many business owners sell their business at the wrong time. They wait until they reach retirement age; or, they are tired of the business; or, their market has shifted and the business is in decline; or, their health has deteriorated and they can't manage the business any longer.

Bigplans101
01-31-2020, 07:59 AM
I recently closed my business of five years. I had invested a lot of money into it, man hours, effort and all. It was simply unprofitable, plus it was costing me a lot of money on tax to maintain. I was spending far more than I made, tried all I could but I didn't get enough patronage. I had to come to terms with closing it down, there was no other way out

TangelThor
06-29-2020, 06:37 AM
We say “enough is enough” if we feel there is already abuse in interacting with people. If you do not wished to be abused because you do not abuse people who trusted you or whom you trusted you think it is time to say “enough is enough”.

amelyjcob
09-16-2020, 06:26 AM
When enough is enough meaning?
—used to say that one wants something to stop because one can no longer accept or deal with itI don't mind lending her a bit of money now and then, but enough is enough!

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trisy
11-24-2020, 08:34 AM
A year ago I had a situation when I was ready to close a business. It was so painful for me because I put my soul into this business. I dreamed about him for so long, I tried very hard to make him successful.
But at some point, he just stopped bringing me income. With each passing month, the results got worse and worse. And I realized that the only way out of this was to invest money in it. But I didn't have them.
But I decided to take a risk: I borrowed from friends, I earn a good amount here https://mr.bet/ , I sold a few of my things and I had enough money to make my business work again.
But I remember what is a terrible state when you realize that this is the end.

mariaporter1212
01-14-2021, 03:57 AM
After reading and analyze your situation I think for a business person first diet and second sleep is being a very important cause for the business you forget all the things which are very much important for you...I personally approach some websites for a person's Behavioral health (https://www.behavioral-healthservices.com/) and Mental health (https://www.behavioral-healthservices.com/mental-health-assessment/)...

Lilykevin86
02-11-2021, 04:07 AM
Is love ever enough to support a cheerful, sound, and long haul relationship? could identify with [your partner] as you did with [an ex], or couple you know. On the off chance that you are the just one doing the truly difficult work,

nadiasonii
04-08-2021, 04:13 AM
I don't know

Lilykevin86
04-09-2021, 11:42 PM
I only occasionally imagine that I am sufficient and my general surroundings appears to help my thining. I'm truly adept at connecting practices to my musings.