The ability to stick it out and not give up are admirable. Being a business owner means that you’ll need loads of determination to get through the rough patches and stay with things when it looks dim.
But what if things just aren’t working out? What if you’re working your buns off, have the right strategy, and know your mindset is in the right place?
When should you stick it out and when should you evaluate your business to find what is and isn’t working? And when should you quit?
These are 4 signs that you might be better evaluating your business (and possibly walking away from it).
You’ve Tried Everything…and Nothing’s Worked
If the strategy is out there, you can guarantee you’ve tried it. And not just for a week or two – you used it for months…with no success.
You’ve hired a coach or a mentor, or maybe several coaches. You worked with them for months and did everything they suggested, and nothing got better. Or things got better for a while but then you found yourself right back at square one.
The strategies that have worked for other people just don’t seem to work for you, and you can’t figure out why. If you’re in this boat and can honestly say “I’ve done my best. I’ve done everything I can think of to make this work, and it’s just not.” then it might be time to quit.
Everything Is HARD – Like Train-Pulling HARD
Running a business isn’t always easy. Some days it will be and some days it’ll be frustrating or difficult or exhausting. But it shouldn’t feel like you’re pulling a train up Mount Everest. If you’re feeling that level of resistance, think twice about continuing in your current course.
By the end of 2017, pretty much EVERYTHING in my business felt like pulling a train up Everest. Sending emails to my list was a huge struggle. Telling people about my programs felt wrong.
It was so exhausting and frustrating. I couldn’t understand why I was struggling so much. The strategy was there, but so was MASSIVE resistance.
Stop and think about your business and your work in it. Do things feel ridiculously hard? Are you struggling to get through tasks like emailing your list? Notice if you’re feeling any pushback from yourself around this. It might be time to stop what you’re doing and change course.
Your Last-Ditch Effort Didn’t Work
If you’re anything like me, you have (or had) a last-ditch effort. This plan, service, or strategy was going to SAVE your business. It was going to put you in the BLACK. You were going to laugh all the way to the bank…
Except you didn’t. Instead, you cried all the way to your bed.
If your final attempt to make your business profitable and successful didn’t work, it might be time to reevaluate your business, especially if your last attempt was your third last attempt.
I’m all for sticking it out when things look bad, but sometimes it’s best to stop trying to revive something that’s not working.
Your Gut Says It’s Time
When I realized that my last-ditch effort to save my business didn’t work, I just knew it was time to walk away from that business. Sometimes, you just have to listen to your gut and make the difficult decision.
Have you been denying or ignoring what your gut has been telling you? Do you honestly believe you can save your business, or is this all for show? Are you afraid of the stigma of failure?
Take a few minutes to answer those questions. Closing a business isn’t easy, and it’s often painful. Usually, we’ve grown attached to it and have invested a lot of time, energy, and money into it.
To not have it work out, after all the resources we poured into it, is frustrating and disappointing.
But letting go of (or reevaluating and restructuring) your business can pave the way for more success in your life. Because your past doesn’t dictate your future.