The $100 MBA Show MBA2154 How Much Time Should You Give Your Idea Before You Quit?
Quitting is an option. And it’s often the right one.
When a product or business idea fails to produce fruit — and you have little evidence to suggest it ever will — wasting more money on it doesn’t make sense.
But of course, it’s hard to tell when you’re in that situation.
There’s a fine line between perseverance and delusion; between being a quitter and being savvy. Today, we take a look at the most clear signs that something isn’t working, and that it’s time to admit defeat.
More importantly, we explore how to avoid that situation in the first place, by doing the best possible due diligence in terms of validating every idea thoroughly. There are steps you can take to get a truly realistic notion of an idea’s chances of success, before sinking too much money into it.
Learn how to quit with an easy conscience, or press forward with confidence, depending on the reality of your situation. Know that whether you keep trying or throw in the towel, you do it for reasons that make sense. Click Play!
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