Know When to Fold ‘em
When do you say enough is enough and shut your company down? I’m all for passion and hustle, but at a certain time you have to be willing to call it quits. There’s likely a ton of signs that are saying you should give up and my fear is a lot of entrepreneurs ignore them.
I’m a big believer that you should never let someone tell you, you can t do something. You can do whatever you like. Just try to make sure what you do decide to make your current life mission, is worth doing. A startup becomes your life. It’s like an addiction, a drug, this can be a good thing or a bad thing.
I think it’s the difference between being a casual drinker and an alcoholic. One shouldn’t hurt you, while the other just may. You’ve gotta check yourself before you wreck yourself. You could be doing more harm then good. If you’re a true entrepreneur who’s a workaholic, why not focus that energy on a winner.
Most entrepreneurs think there current startup is a winner. This is the problem I’m talking about. We don’t ever really know if they’re winners or not, but let’s not ignore the signs. We should make sure we’re paying attention, when smart people are trying to tell us our idea isn’t great or likely is not a winner.
I think we get too consumed in our startup lives and start seeing a little blurry. Eat your carrots and keep your eyes open. Pay attention. If you’ve been working on your startup for a year or two and haven’t raised money or haven’t signed up a sweet BoA, take a step back, look in the mirror and ask yourself, is this really worth doing?
