AboutStacy Brice Expertise My company, Assist University, trains people in every aspect of starting, and more importantly, sustaining, their businesses, while having a high quality life. Additionally, I am a professional business coach. I coach clients to get from where they are, to where they want to be, professionally. All of my clients are small business owners.
Question Hello - I started a small business, but not sure when to say it is working or not and simply quit the idea.
I think my idea is good. I sent out a few sales letters to homeowners in my area who I know need this service. My question: at what point can I decide to continue with the business or just quit ? For example, if I get one service order from 20 letters I send out, does that show hope ?
What if I get 2 orders out of 35 letters I send out ? How can I determine that my service is indeed needed, or just fold and quit the idea altogether ? Thanks a lot.
Answer The way to determine if your business is viable is by doing a business plan. In doing that, your research will tell you whether this business should fly or not.
If the plan shows the idea to be viable, you should know that it can take three to five years for a business to be built to where the owner wants it to be.
