When to quit a business

[cherry123]

It is always stated that we don't have quit what we have passion for as quitters never win. But in practical does this apply a failing business? When can we actually give up on a business?

 

[Starmix]

It cannot be avoided to quit a business for it did happen during the surge of the virus. Many businesses were closed due to bankruptcy, no more buyers and the prices soar up. The more this time, businesses get weaker everyday and the only business

 

[cherry123]

it can be really frustrating sometimes that you can't run the business just the way you wanted to before now.

 

[Starmix]

it can be really frustrating sometimes that you can't run the business just the way you wanted to before now.

That is so true, we cannot predict the future. No one ever thinks about this virus that seems to last an eternity. Many businesses were closed, many employees were retrenched and many felt desperate. Also many committed suicide due to depression.

 

[Sanjeev]

When the owner is bankrupt and has nothing to pay to it's employees and is not able to arrange funds or any financial support then it's better to quit the business.

 

[Starmix]

@Sanjee , you are absolutely right, no ore pride but acceptance and start anew and never do the same failure again. And experience is the best teacher.

 

[cherry123]

That is so true, we cannot predict the future. No one ever thinks about this virus that seems to last an eternity. Many businesses were closed, many employees were retrenched and many felt desperate. Also many committed suicide due to depression.

You have said it all, it can be depressing seeing the business you spent so much on going down and down daily . I know it isn't easy to fun a business.

 

[Sanjeev]

@Sanjee , you are absolutely right, no more pride but acceptance and start anew and never do the same failure again. And experience is the best teacher.

That's true. Failures are the pillars of success may be after one gets failed he learns from the failure and there are more possibilities that the person won't repeat the same when start something new.

 

[Starmix]

But there are people who continue doing the same business failures for lack of knowledge and do not advocate change,

 

[Sanjeev]

But there are people who continue doing the same business failures for lack of knowledge and do not advocate change,

They don't learn from their failure and such people are never able to succeed in their life.

 

[Starmix]

@Sanjee , you are so right, until gradually they realize, they're broke. due to their stubbornness.

 

[Sanjeev]

@Starmix maybe such people know they will get the loan or borrow money from someone and run away. Sadly I have heard many people doing it and making people fool.

 

[Starmix]

@Sanjee , I agree with you. It happened in school, one teacher borrowed money from my friend P 35,000 and because of trust, my friend let him borrow 35,000 only to know that that man and his wife ran away because they have big debts.

 

[Sanjeev]

@Sanjee, I agree with you. It happened in school, one teacher borrowed money from my friend P 35,000 and because of trust, my friend let him borrow 35,000 only to know that that man and his wife ran away because they have big debts.

I don't understand how people do that. Do not they think that God is seeing everything and that their karma will get them bad in the future? I had one friend who did this to people living in his locality.

 

[Starmix]

@Sanjee , until this time, the couple did not pay my friend. My friend is a Chemical engineer but sadly, she passed away 3 years ago, so those culprits never have a conscience.

 

[Sanjeev]

That's sad. People should not forget humanity. Why do people forget is the question?

 

[Starmix]

Their greediness drives them to become evil forgetting about who they owed, forgetting the money they borrowed derived from hard work and a small business my friend created to help people, but many abused her.

 

[Sanjeev]

It happens. People always find innocent people their target. I remember one of my subordinates doing the same with the workers. He borrows money from them but never returns them.

 

[Starmix]

That was an abuse of authority as the head. The subordinates might feel so ashamed to remind the borrower. I do not like people like that.

 

[Sanjeev]

Even I don't like such people. Such people don't feel ashamed even when the borrower is reminded by a person. My subordinate also doesn't feel embarrassed, but now people don't face him for fear he will ask for money.