With such a high failure rate, this question is always at the top of the minds of business owners. According to Bloomberg, 8 out of 10 entrepreneurs who start businesses fail within the first 18 months.Р вЂќР вЂћ whopping 80% crash and burn. All that matters is that you are the one pouring the water.Р Р†Р вЂљРЎСљР вЂќР’Вetermining the appropriate time to shutter a business is one of the great challenges for any owner. I agree with Mark Cuban when he says, Р Р†Р вЂљРЎС™DoesnР Р†Р вЂљРІвЂћСћt matter if the glass is half empty or half-full. If thatР Р†Р вЂљРІвЂћСћs what it takes to survive another day, cut the fat and lose the weight. It also doesnР Р†Р вЂљРІвЂћСћt mean that you canР Р†Р вЂљРІвЂћСћt cut expenses, even if it means layoffs and downsizing. I believe in Р Р†Р вЂљРЎС™go big or go home.Р Р†Р вЂљРЎСљ But it doesnР Р†Р вЂљРІвЂћСћt mean going home empty handed. Losing it all and not having some dry powder to try again is not. You need to understand how long you can survive at your current churn rate. ItР Р†Р вЂљРІвЂћСћs the same whether buying and selling stocks or starting and then closing the business. Once this happens, you become blinded by the need to be Р Р†Р вЂљРЎС™rightР Р†Р вЂљРЎСљ versus making money. The challenge for most people is you become too emotionally attached to the business. Unfortunately, for most individuals, they donР Р†Р вЂљРІвЂћСћt have the mental discipline to stick to their decision. To do this, you need to be extremely disciplined. Whenever I purchase a stock or start a business, I determine how much I am willing to invest and maybe more importantly, how much I am prepared to lose. The difficulty is knowing when to cut your losses. The tough part is determining how much you are willing to lose. What amount of money would I invest in a stock to realize an absolute gain? The initial question I ask myself is how much money am I willing to invest to realize a certain percentage of profit? I think of the business opportunity and the investment no different than a stock purchase. In simple terms, I consider the monetary risks and the financial rewards. I looked at the business opportunity as an investment. So how did I manage the risk? My approach parallels my 17 years of Wall Street experience. IР Р†Р вЂљРІвЂћСћm fortunate (or lucky) that a $20,000 credit card advance turned into a platform that helped me raise $5M from a hedge fund. All my initial start-ups required small initial investments. When is it time to close your business, and when is it not? Mark Kane I talked to several business experts to help shed light on one of the most difficult decisions every entrepreneur might have to make in their lifetime. ItР Р†Р вЂљРІвЂћСћs a question that 8 out of 10 entrepreneurs face in the first 18 months of running their own business.Р вЂќР вЂћs a business owner myself, I have certainly asked the very same question to myself a few times in the past 6 years of running my own marketing agency.Р вЂќР вЂћnd itР Р†Р вЂљРІвЂћСћs a hard decision to make, especially when there are people (and their families) depending on your business.

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