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Get a glimpse of what it takes to start and successfully run a business in this candid interview with seasoned business coach and author Dave Crenshaw. Discover the secrets of managing priorities, working for your customers, bankrolling an idea, and investing in future success. The course covers tips from getting started as an entrepreneur to pitching to investors and researching the competition.
Jeff: Here is a question that may not be so pleasant: How do I know when it's time to walk away from this endeavor and move on? Dave: You know, I have had clients that have gotten to that point, and the question that I ask them is, what makes today the day? You started your business with a vision in mind. You started with something that you were determined to achieve. What makes today the day that you want to give up on your dream? And sometimes my clients have had very good answers for that.
But sometimes it's just something that's been going on that's frustrating to them. You know, maybe they are moving into a new location, and it's been a nightmare to deal with contractors, or whatever it is. They might be going through just a moment of struggle and weakness. So that's the first thing, as I would sort of gut check. If you as the business owner are not passionate about your business, if you don't still believe in it, no one else is going to believe in it. But if you are passionate about it and you believe in it, you are going to keep driving that thing forward.
So if the passion is gone, then business is dead. But if the passion is still there, then ask yourself, what can I do to move beyond the inconvenience of the moment? In my experience entrepreneurs are very resilient. They are willing to put up with the tough times because they believe that there is a greater good and a greater purpose. So just ask yourself, do you believe that it's time to quit? If you believe it's time to quit, then it's time.
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