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Tips - May 8, 2022

5 Signs you should Quit your Business

You are not a failure just because you decide to leave your business. If you see signs that indicate that you should quit a particular business and pursue something else, it may be the best decision you would make.

Quitting, however, is difficult as such; some obstinate entrepreneurs squander their time dilly-dallying on a lost cost. The truth is, quitting and investing your time and energy in another endeavour might be a wise business option.

Since time is money and spending your days attempting to operate a business you no longer enjoy, or that doesn’t satisfy you is a way to waste your time, here are some signs you should quit your business.

Your business is stagnant, and you are not growing

Even though it takes some businesses a long time to grow and get traction, and yours is long overdue, you should rethink the business stand.

Apart from the business growth, you ought to grow in the business. If you, therefore, feel like you are not improving, learning new things, or being pushed to go the extra mile, you should rethink your stand as it is an indication that you are no longer interested.

It is no longer what you dreamt of

You had an idea of how you wanted your business to look before starting. Everyone knows about it as you fantasise and think about it and tell everyone that cares to listen.

However, those thoughts and goals are long gone and replaced with the need to get through the day and payroll. You may want to consider doing something else.

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No business reward

Apart from the passion that made you start the business, the other is to make money. If this is lacking, it may be time to reconsider your stand. If it also takes your time, you need to rethink the business. Time as you know, is money.

Also, if you find it easier to whine about the situation than act, it’s time to move on. Instead of worrying and complaining about money, find something new to invest your time, money, entrepreneurial passion, and skills.

You dislike your customers

For your business to grow and generate revenue, you need customers. If all your customers complain all the time, you are at the point of shutting down because the customers are the funds that sustain your business. 

Your business develops directly to how well you service your clients and how satisfied and happy you make them feel. So, determine what is causing the dislike and work on it. If not, consider bowing out of business.

You are sluggish

When you have nothing to motivate you to get ready for your business in the morning or take too long to get prepared, you may have sloth syndrome. This is when you are sluggish in attending to your business. This has nothing to do with your age or stress; it is just that you’re pushing yourself to do things you don’t want to do.

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