Knowing When It’s Time to Call It Quits

Never give up.

That may be a good motivational mantra, but it isn’t always the best advice for a small-business owner.

In fact, sometimes the hardest part about being in business for yourself can be to admit when you are beat, that you are throwing good money after bad, that it is time to call it quits.

Maybe there’s a time to admit: It wasn’t such a great idea, after all. Or if it was a good idea, it isn’t a good idea now.

By ANDREW BLACKMAN
Staff Reporter of The Wall Street Journal.

Full Story: http://www.startupjournal.com/runbusiness/failure/20050523-blackman.html?sjcontent=mail