The How of Business - How to start, run & grow a small business.

554: When to Quit

Feb 10, 2025

Discover the art of knowing when to quit versus when to persevere. The discussion delves into the nuances between temporary challenges and dead-end situations. Learn about the dangers of sunk-cost thinking and how quitting can open doors to better opportunities. Gain insights on the power of strategic quitting to conserve resources and make smarter business decisions. This thought-provoking dialogue emphasizes that sometimes, stepping back is the key to moving forward.

21:29

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Quick takeaways

Recognizing whether you're in a dip or a dead-end is crucial for making informed entrepreneurial decisions and optimizing resource allocation.

Strategic quitting can enhance efficiency and mental well-being, allowing entrepreneurs to focus on opportunities with greater potential for success.

Deep dives

Understanding the Dip

The dip is defined as the critical low point encountered between starting a venture and mastering it. It represents a challenging period that can separate those who succeed from those who quit too soon. Recognizing whether one is in the dip or at a dead-end, termed a cul-de-sac, is essential for entrepreneurs. It requires evaluating the effort and progress made, as well as the viability of the current path towards achieving long-term success.

Navigating the Dilemma of Persistence vs. Quitting in Business

10min

Navigating the Decision to Quit in Business

11min

When to quit - How to Know When to Pivot or Persevere.

When to quit a project, a marketing campaign, a product line, a business model or perhaps an entire small business.

Show Notes Page: https://www.thehowofbusiness.com/554-when-to-quit/

When should you quit versus push through?

In this episode of The How of Business, Henry Lopez explores the challenging decision of whether to persevere through difficulties or strategically quit and pivot to something better.

Inspired by The Dip by Seth Godin, Henry breaks down the difference between temporary struggles (the dip) and dead-end situations (cul-de-sacs), helping you make smarter decisions in your business.

“Extraordinary benefit accrues to the tiny minority of people who are able to push just a tiny bit longer than most.” – Seth Godin, The Dip

This episode for small business owners addresses:

How to recognize if you’re in a dip or a dead end.

The dangers of sunk-cost thinking and why quitting isn’t failure.

Why persistence leads to success—but only when applied in the right places.

How quitting can free up resources for more promising opportunities.

“Quit the wrong stuff, stick with the right stuff, have the guts to do one or the other.” – Seth Godin, The Dip

If you’re struggling with whether to keep going or pivot, this episode will give you the clarity you need.

This episode is hosted by Henry Lopez. The How of Business podcast focuses on helping you start, run and grow your small business. The How of Business is a top-rated podcast for small business owners and entrepreneurs. Find the best podcast, small business coaching, resources and trusted service partners for small business owners and entrepreneurs at our website https://TheHowOfBusiness.com

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