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    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.


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    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.


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    Quote Originally Posted by jubvman View Post
    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.


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    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.


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    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!


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    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.


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    Never enough You should improve about website or your self


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    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.


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    #29
    Join Date
    May 2017
    Location
    London, E14 8RJ United Kingdom
    Posts
    67
    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.


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    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.


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    Jim McCune
    Spectracom Holdings
    Phone: (20 250-6253
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