What's the right time to shut down a business
- Thread starter cherry123
- Start date
- Thread starter
- #3
Business is good calculation if you are seeing a loss that you might not be able to fight instead of Losing more in the future you let it go
true, but sometimes you will fight tooth and nail and still see the chart going down instead of up. And imagine when you are in a situation where you dont have any other means of aquaring capital, would it be best to jump ship and go back to the drawing board and start something else.
This is a difficult question to answer since it depends on the individual business and its circumstances. There is no one-size-fits-all answer to this question. Ultimately, it is up to the business owner to determine when the right time to shut down the business is. Factors to consider when making this decision include the business's financial situation, the current market conditions, and the owner's long-term goals.
I think when nothing worked then you can shut it down, for example when you changed your strategies and it didn't work.
As long as it is very clear that the business is no longer capable of meeting the business objectives and goals, it is the right time to shut the business now in my opinion.
It is very unpleasant when businesses shut down. The right time to shut down a business is when you do not make a profit from it.
The right time to shut down the business is when it is not yielding profit any longer.
I believe every failing business has something that you can do to it and it kicks back to life. That's the difference between a knowledgeable person in that business and someone who is not.
If your business is making a loss continuously for a period of time, say three to four years, and you cannot think of any effective ways to revive it, it's time to close the business.
