When is Enough, Enough in Business? When Do You Call it Quits?

As business owners, we’ve all had moments where we question whether it’s time to throw in the towel. Some days, everything seems overwhelming—sleepless nights, never-ending to-do lists, and let’s not even get started on cash flow! But when is enough truly enough? When is it time to let go of that dream of owning and running your current business, especially when it’s no longer giving you what you need or want?

I’ve had some pretty deep and teary conversations with clients lately, all wrestling with the same tough decision: is it time to quit? While this blog isn’t about giving you a definitive answer (only you can make that call with the help of professionals like your accountant or financial advisor), it’s a chance for us to explore the signs that enough might be enough and when it could be time to call it quits.

The Hard Truth About Business Ownership

The reality is that business ownership isn’t always sunshine and rainbows. You might be putting in 70 hours a week, missing out on family time, and not even paying yourself. If your credit cards are maxed out, and it’s becoming a struggle to put food on the table, then maybe—just maybe—it’s time to consider whether the dream is still worth chasing.

Now, don’t get me wrong. We’re all a little “unemployable” as small business owners. The idea of clocking in at 9 am and clocking out at 5 pm might feel like a nightmare to most of us. But sometimes, we need to be brutally honest with ourselves. Would working a 9-5 job, with consistent pay and no responsibilities after hours, be easier than the constant grind of your business?

Persistence vs. Stubbornness: Know the Difference

There’s a fine line between persistence and stubbornness. Are you persistently working towards your goal, or are you stubbornly clinging to a business model that isn’t working?

You’re being stubborn if:

• You think that if only you had more money, your business would succeed.
• You keep doing the same things over and over, expecting different results.
• You’re worried about what people will think if you decide to quit.

You’re being persistent if:

• You’re willing to make painful cuts, like downsizing your office or cutting non-essential expenses.
• You’re adapting based on feedback and making changes to your pitch, products, or services.
• You’re putting yourself out there, knocking on new doors, and being vulnerable.

Is Your Business a Hobby or a Business?

Here’s something else to think about: if you’ve been in business for over three years and still haven’t managed to pay yourself a wage, is that sustainable long term? There’s a huge difference between a hobby and a business. If you’re working on something full-time and have no reward to show for it, it’s time to evaluate whether you’re running a business or just keeping a hobby alive.

Checklist: How to Know When Enough is Enough

It’s not an easy decision to make, but here’s a quick checklist to help you think things through:

1. Hours Worked vs. Freedom
   Are you working more hours than you wanted when you started, without the freedom you craved?
2. Personal Income
   Are you paying yourself a sustainable wage?
3. Maxed Out Finances
   Are your credit cards maxed out, and is the financial stress taking a toll on your mental health?
4. Business vs. Hobby
   After 3+ years, are you still not seeing profits? Is this business truly a business or more of a hobby?
5. Business Model
   Have you evaluated your business model, pricing, marketing, and target audience recently? Are you making necessary changes?
6. Stubbornness vs. Persistence
   Are you being stubborn, or are you persistently working towards a well-defined goal?
7. Family and Personal Life
   Is your business taking a toll on your relationships and personal life?

Take a long, hard look at where your business stands in these areas. If the scales are tipping towards “enough is enough,” it might be time to rethink your path.

It’s Not Failure, It’s Learning

I know this is tough to talk about, but here’s the truth: in business and in life, we either win or we learn. There’s no such thing as failure, only lessons that prepare us for the next stage. Maybe, just maybe, the path needs changing—not the end goal. Whether you decide to keep going or pivot to something new, remember that all your experiences in business are setting you up for future success.

Need Help Making a Decision?

If you’re feeling stuck, don’t go through it alone. Reach out to your network, your accountant, or your trusted advisors. Get a fresh set of eyes on your situation and make sure you’re taking advice from people who truly understand the complexities of running a business. And most importantly, don’t be afraid to make changes. Persistence doesn’t mean doing the same thing over and over—it means adapting and growing through your challenges.

About the Author: Jenn Donovan

Jenn Donovan is a global marketing strategist and sought-after speaker on all things marketing and community building, with a passion for helping rural and regional small businesses thrive. With over 23 years of business experience, Jenn is the founder of Social Media and Marketing Australia, the viral Facebook group Buy From a Bush Business, and the co-founder of Spend With Us. Jenn also hosts the Small Business Made Simple podcast, ranked in the top 1.5% globally, where she shares practical tips for making small business simple.

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That wraps up this blog, but if this resonated with you, make sure to check out Episode 318 of the Small Business Made Simple podcast, “When is Enough, Enough in Business? When Do You Call it Quits?” where I dive deeper into this topic. You won’t want to miss it!