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How huge should your losses be before you quit a business?
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[QUOTE="Kennysplash, post: 286949, member: 26385"] A business person must know when to stop admit loss, move on and try something else. Losses are inevitable in business so if you want to start your own business you should be able to leave space for setbacks. This way it will not meet you by surprise when the setbacks come. Being a successful business person includes knowing the time to quit. If you don't know this then you might actually end up wrecking yourself financially and emotionally which is not easy to deal with. So it is important to know when to stop, admit your losses and move on. Over that time you have experience and the necessary knowledge already and you be able to avoid what can cause the same setback in your subsequent business. I want you notice that things are not working, out stop for a moment and then re-strategize. Don't lose more than is necessary. [/QUOTE]
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How huge should your losses be before you quit a business?
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