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When Is It Time to Give Up on Your Home Business?

Apr 9, 2008
Sometimes a home business gets frustrating. You feel as though you're getting nowhere despite hours and hours of effort. When do you just call it quits?

That's a very hard call to make. Many a business will go from almost failing to succeeding if it's just given more time. Others just won't work for a variety of factors. You probably won't be able to tell which it is.

So how do you decide what to do?

One of your considerations should relate to how much research you did into your business in the first place. If you started trying to sell orange widgets because they utterly fascinate you, without researching how much interest others have in it, now is a good time to take another look and figure out if you really made a smart move.

Maybe the niche is too narrow. Maybe it's too wide. Research can help you to figure out if there's something you're missing in how you present your products and/or your business overall.

You should also look again at your target market. Perhaps you aren't doing the things that will being your business to the attention of people who would actually buy from you. Take a look around and think up new approaches.

Or perhaps a complete fresh start is indicated. Despite how appealing this sounds, especially if you just spotted a hot new opportunity, this can be a very bad move. In essence you are giving up everything you built with your first business to pursue a second. If you were closer than you thought to success, you could be chasing failure rather than success.

But if your first choice just really is not working out, and you can understand why, pursuing a second can be a good idea. But your first move in that case is to do the research needed to improve your chances of success.

If a part of your initial failure was due to poor product choice, research that part more carefully. If you didn't understand your customers, prepare yourself more on that front.

The key factor is to avoid the areas that caused your previous business to fail. If you make the same mistake over and over again, you aren't learning enough. If you learn something from your failures, they aren't complete failures; they're learning experiences.

Try not to quit your home business out of frustration. Businesses are often frustrating, but that doesn't mean it or you have failed. It can just be a part of the cycle.
About the Author
Stephanie Foster blogs at http://www.aspectsofhomebusiness.com/blog/ about running a home business. She offers free tips about running a home business as an affiliate at her site.
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