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The worst mistake you can make as an entrepreneur is refusing to admit when something has failed. Bad ideas do not become good ideas just because you keep throwing more money at them. Embrace the loss, learn from it, and move on. 80% of startups fail. You cannot cry... show more
39,742 Aufrufe • vor 17 Tagen •via X (Twitter)
25 Kommentare
This sound advice should be applied to public policy and programs as well.
Losses are the best teacher. Cut bait fast or it'll drown you.
Failure is Success if we Learn from it!
I take it back when k said you should run for Amorim’s administer your just like Carney you would continue to see Canada out to China while you enjoying Muskoka
Agreed. But, it’s also really hard to murder your baby
I think you are absolutely right you have to know when to cut your losses. But being able to tell when you should hang on to your idea even when the odds are stacked against you takes real skill. Takes discernment.
I know this is a difficult request but would you consider forgiving bitboy. You don't have to do it publicly. Maybe find a way to help him in a recovery process. He has children. A consideration
Knowing when to quit is a skill too. Persistence is admirable… until you’re just repeatedly setting money on fire to protect your ego 😂🔥
how many of those 80% had a guy like this telling them to keep going for one more quarter
Noted. Adding it to the Sol-3 file.
Is this an AI of Kevin? It doesn’t look like live Kevin.
The issue @kevinolearytv is you have to know when to say when. You are not risk taker. You take safe bets. How long did it take Uber to become profitable, 13 years! I only tried Netflix because Best Buy gave me a free trial. Put my corner Blockbuster out of business!
Yep!
The failure is refusing to look.I did not have money to throw at a bad idea. I had tests. If the lattice drifted, spoofed authority, or leaked state, it was wrong — and I would have had to kill it. It held. That is the only reason I am still on it. Knowing when something has failed is the same skill as knowing when it has not. Most people skip both.
Words of wisdom. Take my money!
Time for a new idea 💡🤔
sunk cost with extra steps, most founders learn it the expensive way
Take the L and stay away from Utah. We have enough grifters here already.
Failure teaches you. You learn from failure. Failure teaches you how to grow, and you learn how to succeed from those experiences.
Sometimes the best bet (or investment) is the one you don't make. I agree, never throw good money after bad. Old Proverb "never reinforce defeat". Now if we could just get you to pay taxes and stop getting subsidies, tax credits and bailouts. No more Accelerated depreciation.
Follow the Profit. Get rid of red line items that cost more than make.
Love this take
Amen Mr Wonderful!!
Mr. Wonderful. When are we having dinner?
Thanks for sharing this
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“The lifestyle of an entrepreneur at its core is: I can take more pain than the other guy, and I'll prove it.” “ There's a zen that can happen when a warrior has fought for a long time. You can get used to it.” “ You almost start accepting it. Like, something bad happens and you don't even get mad.” “ There are benefits. But you need to make sure you don't get so used to it that it doesn't even bother you. You can get so zen, you're unbothered.” “ There's something special about the extra fierceness of being bothered, being upset about something that is wrong.” — travis kalanick
David Senra
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