How long in years should I go before I give up and close down a business that is unprofitable?
I was listening to a podcast where Kelvin O'Neal
1 was featured. He said, "If you are not making money after 36months(3 years), you've gotta take a behind the barn and shoot it. It's just a hobby. It's not a business."
According to him, "people can get so stuck on a bad idea that they just keep thinking that if I keep working on it, it's going to fix itself. It doesn't fix itself. It was put on your journey to teach you, what not to do."
- To what extent do you agree or disagree with this assertion ?
-Have you had a business that even though it wasn't profitable in the first three (3) years, then it kicked off to bring in good returns in the fourth (4th) year?
1
https://www.instagram.com/reel/CqVbhNCt0yF/?igshid=YmMyMTA2M2Y=OP I did had by hhh such experience years back. Then u was in the university as that was part of my side hustle you know. I do import some goods then from one of the Asian county p pop