Some people don't just know when to quit, do they? I am talking about potential businessmen who never give up no matter the circumstances facing their business. There are times when one has to let go of that business or the business environment and relocate to a new one for personal growth and financial growth. In this article, I will be listing what must happen before someone into business decides to leave.
It may interest you that it isn't always that if a business isn't working out as expected that one should leave it and jump into another investment, the problem may be from the individual directly himself and not from the business. Some factors may affect that, factors like.
FACTORS THAT AFFECT FAILURE OF BUSINESS (INDIVIDUAL PROBLEMS)
1. NOT MANAGING THE BUSINESS PROPERLY: it may be that you are not managing the business properly and to me, businesses are like lovers, if you do not mange them properly, there is a 90% chance of them giving up on you. So if that is the problem, fix it as quick as possible.

2. NOT EMPLOYING THE RIGHT WORKERS: just last week, I posted an article on 'businesses that one can venture into as a student' and I listed about 15 of them, which has been helpful to a lot of people who took their time to read it carefully. In that article, most of the businesses I listed requires that you employ someone you can trust, the same with the keke napep business for those who don't want to ride it themselves, and slme employees treat business that is not theirs anyhow, because they believe the loss is not on them. So if that is the case, then you also have to fix that.

3. UNNECESSARY IN THE PRICE OF YOUR PRODUCTS: What consumers want is a place where they can get what they want at an affordable price and if your price is not good enough for them, you may end up loosing your customers.

4. CONSUMING YOUR OWN PRODUCTS: let me give you an instance of these, I believe I talked about it when I was writing on how to 'start a provision store in Nigeria', but I will tell it again here, there was a provision store that whenever I go to get something as a consumer, I find that the owner of the shop and the children always feast on the product in the shop, either they take nutri milk today or viju milk tomorrow, and it got so consistent that they couldn't keep up with it again. Even If you are so tempted to eat it, make sure the quantity taken doesn't affect your business.

5. TREATING YOUR CUSTOMERS WRONGLY: you may be wondering that "is there a special way customers have to be treated?" Of course, there is a special way. How you relate with them sometimes determine if they would patronise you next time, that's why if most companies want to employ staffs, they first of all ask about your human relationship, how well you interact with other people. So if you are lagging on that, work on it.
But all the ones listed above are for those whose businesses are still good to go but just need some little adjustments for it to function properly, the main aim of this article is for one to know when to stop a business and start another one.

WHEN TO QUIT A BUSINESS
Quitting is not a good quality of a business man but there are times when you just have to let go, in a moment, I would be listing some of them and you should watch out for them, so when you see that it starts occurring, you can invest in another business quickly.

1. WHEN THE COMPETITION BECOMES SO UNHEALTHY: There are some competitions that are stupidly unhealthy, how will you be in a place where you are selling a product and there are 20 other people selling the same products close to you and you are probably at the middle. When the competition starts becoming so unhealthy, the people patronising you may reduce drastically, like in my area which starting with just one provision store but now has up to 30. Before I get to the first provision store that opened , I will pass up to 10 others. Tell me why i shouldn't stop at any of them to purchase and I will tell you why sun can't roast a cow..lol.

2. BUSINESS ENVIRONMENT DOESN'T SUPPORT YOUR BUSINESS: in any business setting, the environment matters a lot, for example, you are not expected to 'start a cyber cafe business' where people can't see it, in the business like cyber cafe, one is meant to start it if possible by the major road,. Sonia your business environment doesn't support it, then change it.

3. WHEN THE BUSINESS DOESN'T INTEREST YOU ANYMORE: If you notice that you are no longer enjoying the business, due to one reason or another, maybe it is because the profit ks declining drastically or what have you, then you should flee as quick as possible else, you will end up waiting and wasting a lot of time that you should have used to invest in another business.

Source: www.sundayjoe.com

Well articulated!