𝐖𝐡𝐞𝐧 𝐭𝐨 𝐐𝐮𝐢𝐭, 𝐚𝐧𝐝 𝐖𝐡𝐲 𝐈𝐭 𝐌𝐚𝐲 𝐍𝐨𝐭 𝐛𝐞 𝐭𝐡𝐞 𝐄𝐧𝐝

An insatiable desire to solve a problem drives most founders.

However great your solution, sometimes a missing piece thwarts your plans.

❝𝐓𝐡𝐞𝐫𝐞 𝐢𝐬 𝐚 𝐯𝐞𝐫𝐲 𝐟𝐢𝐧𝐞 𝐥𝐢𝐧𝐞 𝐛𝐞𝐭𝐰𝐞𝐞𝐧 𝐬𝐮𝐜𝐜𝐞𝐬𝐬 𝐚𝐧𝐝 𝐟𝐚𝐢𝐥𝐮𝐫𝐞. 𝐉𝐮𝐬𝐭 𝐨𝐧𝐞 𝐢𝐧𝐠𝐫𝐞𝐝𝐢𝐞𝐧𝐭 𝐜𝐚𝐧 𝐦𝐚𝐤𝐞 𝐭𝐡𝐞 𝐝𝐢𝐟𝐟𝐞𝐫𝐞𝐧𝐜𝐞.❞ – Andrew Lloyd Webber
 
Perseverance pervades every success story, yet over 90% of startups fail. Sometimes, Webber’s "ingredient" can leave a founder stuck.
 
"𝙎𝙝𝙤𝙪𝙡𝙙 𝙄 𝙦𝙪𝙞𝙩?" may be the hardest question you ever ask.
 
This post navigates stopping a business and proposes another path forward.

𝗪𝗵𝗲𝗻 𝗶𝘁’𝘀 𝘁𝗶𝗺𝗲 𝘁𝗼 𝘀𝘁𝗼𝗽

You may struggle to gain traction and fail for the following reasons:

𝘗𝘳𝘰𝘥𝘶𝘤𝘵-𝘔𝘢𝘳𝘬𝘦𝘵 𝘍𝘪𝘵. You cannot meet your audience's current needs (perhaps you are ahead of your time).

𝘍𝘪𝘯𝘢𝘯𝘤𝘪𝘢𝘭. You run out of cash due to poor planning or no financing.

𝘊𝘰𝘯𝘧𝘭𝘪𝘤𝘵𝘴. You face irreconcilable differences among founders in vision, strategy, or management.

𝘌𝘹𝘦𝘤𝘶𝘵𝘪𝘰𝘯. You cannot build or scale operations effectively.

𝘔𝘢𝘳𝘬𝘦𝘵𝘪𝘯𝘨. You cannot reach or engage the target audience.

None of these reasons directly relate to your core solution but can impact your business.

𝗛𝗼𝘄 𝗱𝗼 𝘆𝗼𝘂 𝗸𝗻𝗼𝘄 𝗶𝗳 𝗶𝘁’𝘀 𝘁𝗶𝗺𝗲 𝘁𝗼 𝗾𝘂𝗶𝘁?

Facing any of the above reasons, you may think there’s a way through.

I’ve worked with many founders who thought that if they could cover the next payroll, they would fix their other problems.

Extending your runway does not equal solving your problems; it only means putting off the consequences.

If the metrics are off and you cannot adapt (e.g. a new feature, pricing, or financial model), you must face the reality.

Some founders rely on outside mentors, investors, or peers to candidly tell them what they need to hear, while others ignore such signals and advice.

As you struggle, it may help to recognize that this may not be the end.

𝗔𝗰𝘁 𝟮

Odeo was a podcasting service company and Jack Dorsey's first venture. There, he proposed a project focused on status-sharing and communication. 

While Odeo was rendered irrelevant under pressure from iTunes, his idea eventually evolved into Twitter.

Niklas Zennström and Janus Friis co-founded Kazaa, a peer-to-peer file-sharing application and the world's most downloaded Internet software. 

However, they faced significant legal challenges and shut down, but they went on to found Skype and connect millions globally.

These founders remain influential figures in the tech industry.

The lesson? If you can find a way to pay the bills while still working on your problem, you may have another opportunity.

Success relies on both persistence and awareness. A maze has many dead-ends before finding your way.

________________________________________

Special thanks to inspiration from Gary Stewart.

Our latest newsletter includes posts on Hidden Indicators of Success and Embracing Profitability: https://bit.ly/3u7bIRB

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This post was informed by my hard-earned experience and written by me with AI editing. Photo is generated by AI.