With the current business environment, small business owners are definitely struggling and “giving up” may start to look like a better and better option. While only you can decide when enough is enough, I heartily encourage you to consider staying in the game as long as possible.
For one thing, small businesses are the engines that really drive our economy, so just by keeping your doors open you are helping the economy to recover. Second, if you have been in business for more than 5 years, you have already beaten the odds, since 95% of small businesses fail by their fifth year. If you have come this far, maybe it’s worth trying to keep your small business afloat a while longer.
It pays to be a maverick these days because nothing seems to work like it used to. Sure, a lot of people are doing their best ostrich act, sticking their heads in the sand and hoping that when the alarm beeps in the morning the world will have returned to its normal order.
Not gonna happen, folks. “Business as usual” isn’t going to cut the mustard in this new economy, this time of prolonged uncertainty. By the way, did you know that prolonged uncertainty is one of the greatest causes of stress a human being can suffer? They’ve done studies that prove it. So here we are, in a time of prolonged uncertainty, and we are, well, uncertain.