My blog post on Monday talked about the important 5-year rule that recurred in the various articles about what it takes to be successful which your small business.
The theory states that, it takes a minimum of 5-years to be successful. Within that time frame the business idea had been further developed to the level where you have a true sense of how the business operation run and a sense of revenues.
The question is what happens if after 5 years I don’t see progress?
How you decide to measure progress should be personal to you.
I used to have this 6-month rule which required that any craft or potential business opportunity I found a remote interest in, I will start learning and reading about it intensely for six months and if there’s an interest after 6 months then I continue or I quit.
For most small business ideas when to quit is highly dependent on revenue and traction.
When to quit is a reflective discussion every entrepreneur must have with himself. My thing is to investigate whether you have given it your all. If you have given it your all and you have nothing else to give then that’s a place to stop and reflect.
Because quitting after putting in so much effort comes with a big strings of what ifs?
What If I pushed myself harder?
What if I took my marketing more seriously?
What if I I had not given up when things got tough?
Getting to the “What if” is a painful point but if you’ve given your all to a project at least you walk away without a shadow of doubt that you have given it your very best.
The success we seek as entrepreneurs and business owners is within reach, what’s important is that we develop the dedication and commitment to giving it our possible best.