When are you supposed to give up?
There are lots of recipe books around “starting up,” but what is the best process for winding things down? I almost feel like knowing when to give up may even be more valuable (if not at least as valuable) as knowing when to start up.
You can save yourself tons of time by “quitting” things at the “right time.”
You can also lose tons of time/money by giving up on things at the wrong time.
Imagine you are working on your startup idea…You drop out of school. You get your friends involved. You raise money. Your family is excited.
And it fails.
What if you could have quit earlier?
Would you have?
Would you have wanted to waste less people’s time and resources?
I do not think that the decision is this binary, and it may not be valuable to apply hindsight bias to situations we cannot change.
Things like experience, learning, fun, etc. are all really valuable intangibles that may be hard to factor into this situation.
But how do you know when to quit and move on?
Originally published at gonen.blog.