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When To Quit: If It Does Not Work, Toss It

Business opportunities are like buses, there's always another one coming-Richard Branson.

Dip by Seth Godin, Seth talked about when to quit in this little, wonderful book

For founders, idea-which they passionately hold close to their heart-, is always good. In fact, there are no bad ideas. If you work hard it will pay off. But sometime it does not. It can’t.

Unfortunately, founders can’t trace this danger. They ignore the facts. They take heart over head. But in business heart cannot pay off when there is a mismatch in calculation.

Start-ups Fail

An idea or venture fails for several reasons. Whatever may be the reason, the fact is venture, start-up fail. And when the curve is heading towards the bottom your concern is required. Don’t be naïve. Wake up and take things seriously.

When your idea hit the wall better take side. Get out of the hole and act. All ideas will not work, some will. It is not a bad pattern. Sometimes you have to leave your very own idea. When your startup stops moving and you feel like you are stuck. Take chances. Look inside and assess where you are heading towards. If you cannot see anything ahead, quit.

Stephen King said it best: if it works, fine. If it does not, toss it. Toss it even if you love it.

Cliff, image from Seth Godin's Dip
Cliff, image from Seth Godin's Dip

Understand: Quitting Is An Opportunity 

Hard work and passion lead to momentum but not all the time. Sometimes thing falls apart and we need to take different path. It seems to us that our ideas are best of all and they could never fail. Hard work and good strategy can rescue a sinking ship. But thing does not always turn out as our wish.

Failure or quitting is not essentially a bad idea, even knowing the right time to stop, look back, or quit is sometimes the best strategy. It takes courage, and wisdom. Letting go something opens up opportunity for something new.

Don’t hesitate to quit when required and start all over again.

Mohammad Ruhul Kader is a Dhaka-based entrepreneur and writer. He founded Future Startup, a digital publication covering the startup and technology scene in Dhaka with an ambition to transform Bangladesh through entrepreneurship and innovation. He writes about internet business, strategy, technology, and society. He is the author of Rethinking Failure. His writings have been published in almost all major national dailies in Bangladesh including DT, FE, etc. Prior to FS, he worked for a local conglomerate where he helped start a social enterprise. Ruhul is a 2022 winner of Emergent Ventures, a fellowship and grant program from the Mercatus Center at George Mason University. He can be reached at ruhul@futurestartup.com

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