What's the Best Mindset: to Never Give Up or to Change The Road When Things are Hard?

[RealDreams]

Lately, I've been thinking about what's the best mindset a business owner should have.
Imagine you had to pick two guys: guy A and guy B.
Both started a business in a relatively competitive field.

After 3 months, both realize they are seeing no progress. They are getting no web traffic, no sales, nothing.

Guy A tells himself "I'll keep going until I start getting some positive feedback". Basically, he has decided he will never quit. He will keep going until he reaches his goal, no matter how hard or how long it will take.

Guy B tells himself "I should probably change the road. What if there's something more profitable out there, and with lower competition?". Basically, as soon as things get too hard, guy B looks for another business to start. I reckon shiny-objects syndrome is how this kind of behavior is defined.

Now, this is a legit question, but who has more probability to succeed, from your experience? Guy A or guy B?

 

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[Kak]

After 3 months...

 

[RealDreams]

I know what you mean. It was an example, by the way.

 

[Kak]

I know what you mean. It was an example, by the way.

Give it PLENTY of time. Grind it out until it works or you realize something else better supports your goals.

What if everyone gave up after 3 months? The Wright Brothers? Bill Gates? Steve Jobs?

 

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[Lex DeVille]

Lately, I've been thinking about what's the best mindset a business owner should have.
Imagine you had to pick two guys: guy A and guy B.
Both started a business in a relatively competitive field.

After 3 months, both realize they are seeing no progress. They are getting no web traffic, no sales, nothing.

Guy A tells himself "I'll keep going until I start getting some positive feedback". Basically, he has decided he will never quit. He will keep going until he reaches his goal, no matter how hard or how long it will take.

Guy B tells himself "I should probably change the road. What if there's something more profitable out there, and with lower competition?". Basically, as soon as things get too hard, guy B looks for another business to start. I reckon shiny-objects syndrome is how this kind of behavior is defined.

Now, this is a legit question, but who has more probability to succeed, from your experience? Guy A or guy B?

If both realize they are getting no results after three months, then probably neither has the right mindset.

Beyond that, you need more info.

Does guy A have a history of success with never quitting?
Does guy B have a history of success with switching fast?
And how does each guy define success?

 

[Strategery]

I heard Kevin O'Leary tell someone, "If it doesn't make money in 36 months, take it behind the barn and shoot it."

Any truth to that?

 

[Kak]

I heard Kevin O'Leary tell someone, "If it doesn't make money in 36 months, take it behind the barn and shoot it."

Any truth to that?

If it no longer supports your goals... Yes... Shoot it.

If you still believe in it... Then don't.

I completly disagree with one size fits all answers to this question.

 

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[GPM]

Please keep in mind that "changing" does not need to mean completely going after something different. You need to be able to pivot and make small changes as needed in whatever you are doing. The entire time you are working you should be uncovering what the real need and real product is.

Like firing a gun, very small changes in what you are doing can make massive differences on where that bullet goes.

 

[Kid]

Similar to @GPM.

For me both ways are wrong.
A - sticks to what's not working.
B - sticks to nothing.

If its your real concern then adjust the PATH, not the goal.

 

[Carol Jones]

Lately, I've been thinking about what's the best mindset a business owner should have.
Imagine you had to pick two guys: guy A and guy B.
Both started a business in a relatively competitive field.

After 3 months, both realize they are seeing no progress. They are getting no web traffic, no sales, nothing.

Guy A tells himself "I'll keep going until I start getting some positive feedback". Basically, he has decided he will never quit. He will keep going until he reaches his goal, no matter how hard or how long it will take.

Guy B tells himself "I should probably change the road. What if there's something more profitable out there, and with lower competition?". Basically, as soon as things get too hard, guy B looks for another business to start. I reckon shiny-objects syndrome is how this kind of behavior is defined.

Now, this is a legit question, but who has more probability to succeed, from your experience? Guy A or guy B?

G'day @VicFountain from Oz,

As the previous readers have said.

Both can be right.

How long you stick with an idea is solely dependent on how much stamina you have to see it through.

And how much you're willing to give up to achieve your goal.

And.

How much experience you have in building up a business.

In this age of instant gratification. Three months may seem a reasonable time of zilch response to justify pulling the plug.

In the bigger picture. Three months is not a long time. Just a blip on the map on the journey to success.

But.

Some people see three months of no sales. No feedback. No web traffic. As an eternity.

In the world of business . . .

How long did Jeff Bezos wait until he made his first profit?

How long did it take Steve Jobs to become successful? Bill Gates?

None of the above are overnight wonders. They all grew their businesses over time. And each one had periods of time when no revenue was coming in.

Belief in yourself.

Your stamina.

Your ability to be resilient when times are tough.

Your ability to do without. When no revenue is coming in.

Plus many more characteristics.

Determine how long a person is prepared to slog away until they reach what they consider to be a level of success.

Thomas Edison did 1,000 experiments. Between 1878 and 1879. Before his first bulb created light.

Where would we be without his persistence?

I know a couple who opened a fabulous delicatessen. In an area where there was none. No competition!

It was just what the regional area I lived in needed.

But they closed down after 4 weeks.

Not enough foot traffic.

Why?

They chose a location that wasn't in the main shopping area. They had to be found. Which is how I discovered them. And they did no marketing.

Several months later. Someone else opened a deli. Again. Not in the main shopping area. But they did radio and TV advertising. And letterbox drops.

And created an outstanding business.

Which grew into 'the go-to place' for casual get-togethers.

Because.

They added a takeaway and eat-in food bar. Great coffee. Comfortable tables and chairs.

This took several years. But today. No one would consider competing with them. They own the deli market.

So. Too. Could the first couple have done so.

It all boils down to how hard you want to work.

How much you're willing to do without. Until success becomes a reality.

How hard you want to find a way to make it work.

And how deep that burning desire to be something. Smoulders inside you.

Everyone has limits. Some are short term. Some are long term. ~Carol❤

 

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[KeepGoin]

G'day @VicFountain from Oz,

As the previous readers have said.

Both can be right.

How long you stick with an idea is solely dependent on how much stamina you have to see it through.

And how much you're willing to give up to achieve your goal.

And.

How much experience you have in building up a business.

In this age of instant gratification. Three months may seem a reasonable time of zilch response to justify pulling the plug.

In the bigger picture. Three months is not a long time. Just a blip on the map on the journey to success.

But.

Some people see three months of no sales. No feedback. No web traffic. As an eternity.

In the world of business . . .

How long did Jeff Bezos wait until he made his first profit?

How long did it take Steve Jobs to become successful? Bill Gates?

None of the above are overnight wonders. They all grew their businesses over time. And each one had periods of time when no revenue was coming in.

Belief in yourself.

Your stamina.

Your ability to be resilient when times are tough.

Your ability to do without. When no revenue is coming in.

Plus many more characteristics.

Determine how long a person is prepared to slog away until they reach what they consider to be a level of success.

Thomas Edison did 1,000 experiments. Between 1878 and 1879. Before his first bulb created light.

Where would we be without his persistence?

I know a couple who opened a fabulous delicatessen. In an area where there was none. No competition!

It was just what the regional area I lived in needed.

But they closed down after 4 weeks.

Not enough foot traffic.

Why?

They chose a location that wasn't in the main shopping area. They had to be found. Which is how I discovered them. And they did no marketing.

Several months later. Someone else opened a deli. Again. Not in the main shopping area. But they did radio and TV advertising. And letterbox drops.

And created an outstanding business.

Which grew into 'the go-to place' for casual get-togethers.

Because.

They added a takeaway and eat-in food bar. Great coffee. Comfortable tables and chairs.

This took several years. But today. No one would consider competing with them. They own the deli market.

So. Too. Could the first couple have done so.

It all boils down to how hard you want to work.

How much you're willing to do without. Until success becomes a reality.

How hard you want to find a way to make it work.

And how deep that burning desire to be something. Smoulders inside you.

Everyone has limits. Some are short term. Some are long term. ~Carol❤

Any time I see a comment of yours Carol, it's filled with positivity and value. It's a joy to have people like you on this forum.

 

[100ToOne]

Our grocery store took us 2.5 years to know if this is a business we wanted to continue with or not.
Working 12-14 hours everyday for the past 2.5 years, and add on to that, after expenses and giving the biggest chunk of profit to family members who owned the business, I was ending up with poverty money, if any.

It doesn't have to be that way however.

Anyway, I say forget those two examples. If you can have a normal job, and start what you want as a side hustle, you aren't going to or shouldn't be bothered by the time it'll take until it brings in profits, because seriously if you want to have a decent business, you shouldn't be looking for profit anytime soon. Again, it's not all the same.

 

[Carol Jones]

Any time I see a comment of yours Carol, it's filled with positivity and value. It's a joy to have people like you on this forum.

G'day @KeepGoin from Oz,

Thank you so much! It's such a privilege to be part of The Fastlane Forum. And have you read my posts.

You make my stay here very rewarding! ~Carol❤

 

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