Jonathan Tichich says, “Winners never quit is an old saying. As far as business in concerned, winners know when to quit.” Jonathan James Tichich works as a Senior Business Development Executive in Sunbelt Midwest and has been on a steady rise in his career.
He says that most business owners hang on to their business for too long and sell it only when it is no longer a profitable transaction. Here he discusses about when a business owner should decide to quit and sell his business.
Fading Business –
John James Tichich recollects that many business owners who might have seen a golden period in their business are not able to give it up when it fades. They keep waiting expecting a positive change like a rise in the market or an employee who might pull them out of the situation. Instead they are left with lots of stress and debt. This leads to the fall in the value of the business and makes selling it difficult and less profitable. He says that a person should try to dispose off his business once it starts to fade.
Business with Poor Performance –
The key indicator of a business which is performing poorly is the debt that piles up. If a business needs to be run on borrowed money, then it is time to sell off that business instead of letting the debts increase.
Business that is Profitable –
To run a business in an effective way, a person needs passion. Jonathan Tichich points out that the key factor in the effective running of a business is the passion with which it is run. So if the passion has died down, then even if the business in profitable it would be better to sell it as it would bring great returns to the owner. On the other hand, if the owner keeps running the business without any passion, there is no way to make it succeed as a good business needs new ideas and new ideas are the result of a passionate mind.
With these tips from Jonathan Tichich, make the most of your business and sell it at the right time to get the best returns.
He says that most business owners hang on to their business for too long and sell it only when it is no longer a profitable transaction. Here he discusses about when a business owner should decide to quit and sell his business.
Fading Business –
John James Tichich recollects that many business owners who might have seen a golden period in their business are not able to give it up when it fades. They keep waiting expecting a positive change like a rise in the market or an employee who might pull them out of the situation. Instead they are left with lots of stress and debt. This leads to the fall in the value of the business and makes selling it difficult and less profitable. He says that a person should try to dispose off his business once it starts to fade.
Business with Poor Performance –
The key indicator of a business which is performing poorly is the debt that piles up. If a business needs to be run on borrowed money, then it is time to sell off that business instead of letting the debts increase.
Business that is Profitable –
To run a business in an effective way, a person needs passion. Jonathan Tichich points out that the key factor in the effective running of a business is the passion with which it is run. So if the passion has died down, then even if the business in profitable it would be better to sell it as it would bring great returns to the owner. On the other hand, if the owner keeps running the business without any passion, there is no way to make it succeed as a good business needs new ideas and new ideas are the result of a passionate mind.
With these tips from Jonathan Tichich, make the most of your business and sell it at the right time to get the best returns.
Want to get more business tips from Jonathan Tichich? Read - Jonathan Tichich’s Tips to Build a Career in Real Estate in USA
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