Entrepreneurs Know When to Quit
How you can figure out if you should quit or fight on
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You hear time and time again that you should never give up. You have to go through the obstacles to get to success.
Sometimes you need to fight on despite all the difficulties, but other times it may be wiser to quit.
The sooner you quit going down the wrong path, the sooner you can start going down the right path.
You may have been lucky enough like Tiger Woods to pick your path at three years old and stay the course for twenty years until you become a world champion.
But for most of us, we may pick the wrong path. At least the first time.
There are thousands of fathers who started their kids playing golf at five, and now they are left with little to show for it.
They may have given up their weekends and slipped behind on their academics, trying to achieve the same feat.
They may have turned out to be world-class surgeons or skateboarders if only they switched paths early enough.
The same is true for entrepreneurs. They may have been lucky enough to pick the right product or business the first time, but if they haven’t, they need to know when to quit.
Update your numbers
You did your research to find out what would be a good product, location and time to launch your new business.
Unfortunately, the world doesn’t care about your research. The world is based in reality, not on your notebook.
Once you start, you may realize that real-world numbers are different.
They could be way better than you expected, but then you wouldn’t be reading this article.
If they are not as great as you planned, you need to reassess your position. It may not be a problem.
If the number of customers you anticipated or the growth rate is much lower, it doesn’t mean you have to quit.
