When is it time to close up shop?

Last night, I did my monthly ritual of reading Oprah's magazine cover-to-cover. Suze Orman, the well-known personal finance expert, fielded some questions from the wife of a "struggling entrepreneur".

What has been bugging my brain all day was that the woman said her husband had been struggling with his restaurant for eight years. Eight. Years. That's a really long time to be struggling with a (new) business.

Any entrepreneur is and should struggle at the beginning... but when do you start wondering if you're doing the right thing by staying open? When do you know it's not working? The woman writing in didn't give all the details of how much personal money they've put in over the years or how much they were loosing each year other than to mention that they owed several thousand dollars in back taxes. But you have to wonder... have they been going through the motions all these years thinking "next year will be the one to turn around" or does the husband really just enjoy the restaurant business?

In my book I talk a little about new businesses not making it because the new entrepreneur is under-capitalized and can't sustain themselves through the start-up period - so their business doesn't even have a reasonable chance to grow and succeed. This situation seems to be just the opposite. Eight years and no profit... wow. I don't think I'd have the stomach for it! Kudos for those who do! (and Good Luck!)

:)