Stick or Quit?

Starting a new business is exiting and relatively easy.

You have all the energy, the dreams and the money that you need, at least in theory. What's much harder though, is to face the realities of the business you've just built, working 90 hours a week and running out of money - and all of this in the same time.

I have ordered and just received "The dip", the new book from Seth Godin. It is about this period of doubts and frustrations (be it in business, sports, politics or life in general) - where you do not know whether you should quit or you should stick.

I have had built three businesses so far and two have failed. Strangely, the first company I have created (7 years ago) is the one that survived. Let's look briefly at my two other failed businesses:

sportDNA:
Activity: sport content providers
Crash: After 2.5 years
The dip: building a name that is trusted in the industry by the media (our clients)

ThaiWinningStock.com
Activity: Stock Trading Advisor for the Thailand market
Crash: After 12 months
The dip: No dip in my opinion but simply no real market to support such business in Thailand.

Maybe business is really like monopoly: try make money as soon as possible and you'll increase your chances of winning big time... Try make something you can sell BEFORE you actually set up your business. If you can't sell it by then, then quit. Sell FIRST, Set up AFTER.

If you can sell, then STICK
If you can't sell, then QUIT