When to Pull the Plug

Creating a new venture, championing a new process, or offering a new course or program is exciting. However, statistically, it is more likely you will fail than succeed, and there is a fine line between determination and pig-headed optimism. You might not have the skills to do what you love. At some point, you will have to consider quitting and moving on.

Quitting is not a value in the entrepreneurial lexicon. It is a myth. “Winners quit all the time. They just quit the right stuff at the right time.” Some, given stress and burnout levels, would rather see you keep trying, even if it kills you. Don't let it.

Here are some signs that it might be time to hang up your cleats and move on:

1. It is not fun anymore.

2. It is making you sick.

3. The people you work for or with are unethical.

4. You realize that the window of opportunity has permanently closed.

5. Your innerpreneurial instincts are telling you that you are doing what you are doing for the wrong reasons.

6. You are willing to take personal responsibility for your failure and apply the lessons to your next initiative.

7. You have shown that your business model is fundamentally flawed and that you don't have the time, resources, or interest in fixing it.

8. You have changed your priorities.

9. Your life is out of balance and practicing entrepreneurship is further tipping the scales.

10. You believe the fates are working against you. Truth be TOLD, sometimes they are.

The history of business and innovation proves that some of the biggest winners have been the biggest quitters at some point in their career. The important point is that, after quitting, they continued to move forward, not sideways or backwards, with their next idea.

Along the way, tidying up is a good idea. Let go of the banana.