Every entrepreneur experiences challenges that make him/her question whether it's time to quit and try an alternate career, especially if you start listening to different people and advice. But as stated by Bill Bradley 'Ambition is the path to success. Persistence is the vehicle you arrive in.' and the general rule is that entrepreneur never quit!
In the latest FD blog post I just read, Rahim Fazal, the founder of Involver, company acquired by Oracle, says that knowing when to quit is important too. In the darkest moments as an entrepreneur, perseverance and a positive attitude play an essential role in the development of any enterprise. But, how does one know when it's the right time to quit the startup or persevere?
- HOW DO YOU KNOW WHEN TO GIVE UP?
Every step of the way I was willing to give up if I didn't see some form of traction. Sometimes that meant more users. Sometimes that meant more profits. Sometimes that meant more technology that I really liked and ideas implemented that people wrote great reviews about.
Perseverance is like a fire that needs oxygen.
Love is the oxygen for perseverance. You can love it. Users can love it. Partners can love it. Investors can love it. There are a lot of sources of love. Businesses and humans need love to live.
Ultimately, you create value for people and that's how you build the love.
Business is just the delivery mechanism of that love.