July 18, 2018

Entrepreneur: Know When to Quit

cult

By Telford Aduda

As the saying goes, there is always light at the end of the tunnel, but there are times when the tunnel hits a dead end in the road of our career lives and there are no two ways about it. You need to rethink the plan.

The dead end is a place you don’t want to be. It is a place where you will be tempted to begin wandering aimlessly and the signs seem like they’re mocking you. This is the time when the doubters will speak up and try to deter you.
Imagine chasing your dream only to hit a dead end. All that time you spent preparing feels as though it amounts to nothing. Whether it is getting your product line into a store, securing a venue for an event or signing a contract to offer a service, life and entrepreneurship is hard.

That’s the time when you ought to open your eyes and see that it is dark. That the current course of action has no future for your organization, and indeed it’s finally time to begin afresh.

It is better to lose your business and save your money. Be on the watch for the following signs of the dead end, if they are present, know it’s time to begin afresh.

 

1. You are in the same position for long

Your performance may have been up to the mark and the company may also look healthy with reasonable profit levels, but your status remains unchanged. There are no promotions, no financial incentive and no change in the job profile. That’s a dead end.

The problem is compounded if you work with a set of people around you who are stuck too. This leaves little scope for you to grow as more chances are not being created. Try to understand and analyze if these set of circumstances are ever to change and if opportunities will arise. If yes, then try to linger on for a while. If not, then begin to prepare to quit.

2. There is little or no growth
To do well on a personal level, you have to be in an industry that is growing. If you are in one that is doing well, you have a decent chance to grow your business. When the industry you are in is expanding, you will have more opportunities coming your way. Be in the know of things. But your antennae should be up high if you are working in a sector that has not been growing and there are slim chances that the situation will change.

When there is no growth, no challenges and motivation – performance of employees will be on the decline. It’s like getting your body used to only a minimum calorie intake – the incentives are bare minimum and so is the performance.

NB: when you find yourself in the above situations, know that it is important to quit and begin afresh.

Related posts