Closing a business can be just as involved and emotional as opening one. In Closing the Business: When Is It Time to Move On?, Isabel Isidro, PowerHomeBiz, is sharing her personal story as well as some indicators of when it’s time, and important reminders.
Aside from relocating to another place, how do you know that it’s time to move on and close your busines? From what other entrepreneurs tell me, here are some indicators that can let you know that time’s up for the business:
- You have achieved what you set out to do with the business
- The business ceased to be fun for you
- Your resources have been depleted and the business is not making any money
- Cash flow is insufficient and you have exhausted means to improve cash flow
Read the whole article at PowerHomeBiz.
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Becky started Small Biz Survival in 2006 to share rural business and community building stories and ideas with other small town business people. She and her husband have a small cattle ranch and are lifelong entrepreneurs. Becky is an international speaker on small business and rural topics.