Warning: Giving Up Today Will Lose You a Successful Business Tomorrow

written by Ivan Widjaya on January 14, 2013 in Personal Development with no comments

Don’t give up! To some that sentence will boost morale; but to some others those meant nothing. If you are about to give up on your business and entrepreneurial journey, read this blog post first before you decide on anything!

dont give up

I involved in online business, and I do know that some of my fellow web business owners give up and sell all the web properties they have. They end up finding a job to pay the bills and live from paycheck to paycheck. There’s nothing wrong with working for others, but online business (and generally most business) can give you much, much more on every sense. More on this later… read on :)

You know, there’s nothing wrong with giving up; it’s your decision, and that’s life. It’s just that giving up means you won’t see the finale; you won’t know how things go if you carry on.

The soccer analogy of not giving up

Watching a bad football match (read: soccer,) some fans left the stadium already; they have given up on their losing team and can’t stand to watch further. Their team is 3 goals behind and has a slim chance for a draw, let alone a win. However, many hang around to shout and chant to help their losing team play their best. They wait until the final whistle is blown and the match is over. Then, they can see the outcome of the match.

Most of the times, the 3 goals down team won’t have a chance to win the game. But the unknowns – called the X factor, luck, fate, or blessing by people – occasionally turn things around. When a losing team is suddenly scored 4 goals, they win the game (yes, such things do exist!)

A 3-goal down team makes no big news when they lose the game; it’s predictable. But what if the team is actually winning the game? That would become a great story. Team morale boosted up, fans raving for the great results, and those leaving the stadium earlier missed the drama.

Now let’s relate that story to your small business…

You see, when things go wrong with your business, you have two clear choices: Carry on or give up. Both have their own sets of pros and cons.

Carrying on running a lose-making business might cost you even more money and you might end up losing everything. In the other hand, giving up might lose you a chance of discovering something great – perhaps not next year, but next week?

Even if things eventually go bad (as intended) you have finally seen the conclusion. Then you know that things don’t work as expected, and you will somehow learn from your mistakes and perhaps start another one in the near future.

When you give up, you lose hope; then you’ll become traumatic about the whole experience; then you’ll start to blame the industry, the competitors and the Government. You see, giving up is bad for your personal well-being. Giving up means you can’t accept the fact that it takes guts to succeed in entrepreneurship; giving up means you can’t handle the pressure; unlike failing, which can give you experience and teach you lessons on how succeed in the future, giving up means you lose, lose and lose. ’nuff said.

Here’s must watch video to help you understand the meaning of not giving up:

Why perseverance rocks

Let’s be clear here: What I’m talking about is you, as an entrepreneur. You can fail numerous times, but not giving up means whenever you fail, you quickly pick up the pieces and move on.

A successful entrepreneur can fail 1,000 times but succeed 1 time; but that 1 success makes all the 1,000 failures worthwhile. Another successful entrepreneur can fail 1,000 times but succeed 1,001 times. Either one, they are not failures; they don’t give up on their entrepreneurial journey.

I have a unique entrepreneurial journey – I am an ex-franchisee jump into the online business bandwagon. I am involved with small business in two often colliding world: brick and mortar business and online business.

I don’t have a good track record when it comes to franchising. Partly due to the economic situation forced me to sell a franchise unite of mine and closed another. But no, closing a business (two businesses in my case) doesn’t mean I gave up.

I carry on with my entrepreneurial journey, and I kick of my journey with running web directories and blogs. My web directories were considered a success (I sold them all eventually, yielding me a nice sum amount of money to pay the bills, make investment and start yet more businesses.)

With blogging, things are a bit challenging. For 2 years, I didn’t see anything with regard to money from my blog. I almost gave up on my blog, but fortunately, I didn’t.

Today, I am mainly running blogs, help clients with their websites and website flipping as my web business while investing my income in the off line world. I work at home and can be location independent if I want to. I support my family with my online income full-time.

Those are possible because I didn’t give up, and I assure you not giving up means you win :)

Takeaway

Again, if you don’t give up, you win. Regardless of how many failures you have experienced in your entrepreneurial journey, not giving up means you are not a failure.

However please bear in mind, there’s a fine line between not giving up and not embracing changes. Not embracing changes mean that you hang on to your dying business, reluctant to let go because it has some sentimental value; because you are afraid of get out of your comfort zone.

Not giving up means you know when the time to let go and pursue other opportunities; not giving up means you are ready do to things required to achieve success.

Are you ready for success? If so, then don’t give up!


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