Never give up? Bullshit. Stop being so macho and just quit.
How to walk away gracefully
If you’ve been in the entrepreneurship game five or seven or even ten years, and you’re still running in place, perpetuating the plateau, failing to make any significant progress with your enterprise, consider the possibility that you have made the wrong investment.
It’s nothing to be ashamed of. Bloomberg’s latest research reports that eight out of ten entrepreneurs who start businesses fail within the first eighteen months. And so, in the same way that we all outgrow some of our beliefs, we all create enterprises that eventually outlive their usefulness.
I have a friend who recently closed the doors his business after eight years. The announcement was a bittersweet moment, but ultimately, he was ready to start a new chapter of his life that didn’t include working weekends, schlepping his products around town and hustling to craft shows only to barely break even.
That’s a mature businessperson. That’s a guy guaranteed to be successful in his next endeavor. Somebody who knows when to hold em, knows when to fold em, knows when to walk away, and knows when to run.
That’s more admirable than the stubborn, invulnerable, macho sea captain who insists on going down with the ship.
Churchill was full of shit. Sometimes giving up is the smartest move you can make. Because it’s not about quitting on yourself, it’s about showing respect to yourself, staying honest with yourself and setting boundaries for yourself.
Remember, there’s nothing noble about refusing to move on just because your business is too convenient to be killed. Better to cut your losses and move on than continue placing your faith in an idea that’s failed you.
LET ME ASK YA THIS…
What established idea is ready to move aside so you can advance?
LET ME SUGGEST THIS…
For a copy of the list called, “99 Ways to Think Like an Entrepreneur, Even If You Aren’t One,” send an email to me, and you win the list for free!
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That Guy with the Nametag
Author. Speaker. Strategist. Inventor. Filmmaker. Publisher. Songwriter.
Never the same speech twice. Customized for your audience. Impossible to walk away uninspired.
Now booking for 2015–2016.
Email to inquire about fees and availability. Watch clips of The Nametag Guy in action here!