When is the time to quit the business? Is it worth continuing the business even if good profits are returned? It is hard to explain sometimes, but the fact remains – businesses close down for seemingly no reason.
Small business owner can build few parameters based on which one can take a call on continuing or discontinuing the business. First and foremost reason is the ‘heart’ being ready to stay with business? This is difficult and debatable too. Why should heart (soul) be involved in this process? However, it comes to this – if you are not interested in a business (even if it is profitable), simply exit it before the valuation comes down.
Rational decision of exiting can be a bunch of factors – uncertain future with respect to existing technology, lowering ROI, inability to manage operations scales and various others. It is always wiser to exit when goings are still good. The moment it seems that the decline can not be arrested, its time to say bye.« Return to all articles