TO STUPID TOO QUIT [SIC]

TOO STUPID TO QUIT

Amongst entrepreneurs quitting is a frightfully taboo subject. You can understand why when most businesses end one of two ways.

1). The business works.

2). The business stops before it starts working.

However, contrary to common belief, there are circumstances that arise which make pulling the plug on an operation the right decision. I can speak directly to the scope of difficulty associated with making that call. Personally, the challenge was mostly centered around needing to feel a confirmation about the parameters upon which I would make the decision.

I can't help you with the former, but I will attempt to lend context to the latter.

Work Ethic: Since a strong work ethic solves just about anything, the ability to work like a dog is foundational to achievement. By extension, it should be the first thing you look at when things aren't going your way. Audit your time, and get honest with your output. If output is not where it needs to be, fix it. In some cases, this may help you right the ship. Assuming this does not fix the problem, at the very least a higher volume of work will lend a much clearer perspective of what the problem actually is. E.g. marketing, prospecting, sales processes, proposed product, or fulfillment.

Pivot: If your product sounds like what is described below - then a pivot is probably the best solution. Maybe you are solving a problem that many competitors are solving better for less than you are, perhaps your niche is not fitting correctly, or your proposal is too broad. Unfortunately, pivoting correctly is not nearly as simple and universal an answer as "work harder". Each redirection will look different so it has to be a product of your own. Stress test your new idea by proposing it to past clients, or previous business associates.

Abandon ship: If problems have risen to that of a systemic level e.g. leads aren't converting, the business is hemorrhaging cash, and you hate what you are doing - it may be time to lower the life rafts.

It needs to be restated that this decision should not be reached quickly or during an emotionally charged episode.

If the finality of bowing out is reached, do it quickly. Don't end a venture by falling off the wagon and letting it fizzle out. This merely wastes time while concomitantly eroding your confidence. Drag it behind the barn and finish the job.

"Age wrinkles the body, quitting wrinkles the soul." -Douglas MacArthur