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How huge should your losses be before you quit a business?
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[QUOTE="Richee84, post: 284179, member: 42448"] There is no particular business that will operate successfully without running into a loss. It is normal for challenges to come up in the course of the business and when such challenges come up, businesses are bound to make some losses. It is very important for every entrepreneur to defined or have their own acceptable level of losses that the business can take or must not go beyond. In economics it is expected for business to still be in operations if and only if the business is still breaking even in the course of it production or business. Losses is not what we should tolerate for too long more especially when the cost of production is higher than the total profit we are making in the business. If we are unable to control the cost of production to the extent that the cost of producing a particular goods or products is higher than the selling price, for such products it is better to discontinue their line of production and focus on other things. When we also discover that our profit is not enough to cover our fixed cost it is also a signal that the earlier we discontinue the better for us. [/QUOTE]
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How huge should your losses be before you quit a business?
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