Kaylee Page: Organizer and Planner. Dependent on caffeine – sadly. Favorite words: joy, peace, community, embrace. Devoted Wife. Proud Mother. Finds the best in everything.
A start up isn’t easy, we know this. And no start up would take off if an entrepreneur called it quits when it got hard. There are several challenges, problems and difficulties that arise while running a start up.
Like doctors in an ER, entrepreneurs are fighters – trying everything to keep an idea alive. Exhausting all resources and options, it’s absolutely necessary to have a will to survive.
But should all ideas continue on?
When is it time to call it quits?
A few points to consider when determine if it’s – quitting time:
ALL PIVOTS PURSUED.
Take time and think through your idea and start up. Have you pursued all channels and options? What creativity have you yet to test and implement? If you have ran every test, experiment and option that keep yielding the same result with no traction or progression — your start up may not just need a pivot, it may be time to call it quits.
SEPARATE THE START-UP FROM YOUR SELF-IDENTITY.
A start up is the heartbeat of an entrepreneur, which means it can be incredibly difficult to see the start up for what it is. Having a regular self-check on the momentum of the project is crucial for understanding when it’s time to call it quits. Understanding that the end of a project is not the end of the entrepreneur is crucial to the health of the start up – and future start ups. If an entrepreneur is holding too tightly to something that should end it’s actually keeping the entrepreneur from pursuing other really great ideas!
SEEK OUT INSIGHT.
It’s real simple: One of the best ways to figure out if it’s time to call it quits is to just ask the people in your life that you trust and respect.
TRUST THE GUT INSTINCT.
We all tend to know things are over long before we let go. If you’re gut is telling you it’s time to quit – trust your gut and be okay to quit. I’m not talking about the fear of the challenges that lie ahead or the difficulty that start ups face. I’m talking about the deep, nagging, gnawing feeling that keeps telling you it’s over.
LEARN AND ACCEPT.
So… Is it time to call it quits? Then do it. Most hold onto an idea out of fear of quitting being considered a failure. We’ve all heard it – all the greats had several “failures” that provided learnings that were implemented into the one(s) that were successes. Do the same! If it’s time, accept that it’s time to quit, take the learnings and figure out the next thing you want to run with. If you don’t know what that thing is yet, then take some time to tinker with lots of stuff and in time, you’ll discover what it is you want to start next.