How to know when to close?
Hi there people!
So, I've had this business with some friends for about 2 years now, the capital invested by the 3 of us was relatively low and didn't matter since the plan was for it to be a small business while we kept at school.
The problem is that there is a very very very low income, I'm not even gonna post the amount since it's ridiculus*, but you can be sure it's not worth the effort, we have no debt (at least that) but the problem is that we can't hire nor we make money for ourselves (who do the whole work)
So you have an idea, it's an IT Services small business, we started it right after highschool but doesn't work, we're only 2 people working on the computers and 3 who are suppoused to sell, well obviosly there is no selling and we still have to divide the small income we get between the 5 of us, personally i'm starting to think i should close it, I believe the reason was the low amount of capital invested originally and the partnership that i formed with them, since the idea works pretty good, just that then don't sell...in the sense that they don't actually look out for people or companies to sell them to!
i'm sorry for it, i needed to relief myself a bit lol, any idea, suggestion..well anything would be apreciated.
Personally, based on the info you've provided and my own experience with these kinds of businesses, I'd say "yesterday" is about the right time.
Anyhow, best of luck with your decision.
The most obvious option is to have honest, detailed and open discussion with your colleagues concerning the company perspective if similar "strategy" is pursued. That would clarify the whole situation and simplify your decision making a lot.
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