Business failure - when to quit

There’s been times in the past when I struggled with not knowing when to stop or walk away from a business. It’s a bit like any relationship really.

I’ll use a relationship as an analogy here.

Sometimes you get to that point in a relationship where you’ve tried all the counselling and you’ve done everything you can and it’s still not working. Then you’ve got to ask yourself the question, at what point is this unhealthy to stay in it?

The moment something becomes unhealthy that’s the moment you should become compelled to do something about it.

So for me, the same rules apply in business.

If you’ve been in the business, trying this and trying that, you’ve been getting help, and it’s still not working then you’ve got to look at, is this really the business model for me?

There is a possibility that you’re just in the wrong vertical, or you’re not executing on everything that you say that you are.

When a business isn’t working it comes down to, are you doing the right thing? Meaning are you pursuing something that has a worthwhile purpose to you? And, are you doing the right things? Meaning are you doing what’s being recommended to you to do?

Also, are you functioning in the right way in the context of your health.

To me, when ever anything becomes dysfunctional, or creates a level of stress, or isn’t working to the degree it starts to affect your health you’ve got to ask yourself the question, is it really worth it?

That’s when you might look at taking a step back, even getting a job while you cool your jets. Maybe reconfigure, rebuild, reestablish before you go out and do it again or maybe you just take a bit of time off and do it again.

I never think it’s an either, or. This business doesn’t work so I’m meant to be an employee.

Business is a Baskin Robbins scenario, there’s 52 flavours out there, times infinity, and just because this flavour didn’t suit you doesn’t mean there’s not another one out there that will.

Sometimes you just need to find your flavour.

Kerwin Rae

Fast Growth Business Specialist and Educator at Business Mastery Pty Ltd
Kerwin Rae is a businessman, investor, strategic advisor, author and international speaker. He has studied and observed the psychology of influence for well over a decade now and is considered an expert on influencing human behaviour and how it relates to sales, marketing, fast growth business principles, leadership and personal transformation.
Snapchat: @KerwinRae

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