Sharing Daily Discoveries About Personal Finance And Business Topics

How Long Do You Keep At It With A Venture

I was looking at this group the other day where a person created it in hopes to essentially create a community of sorts which would eventually turn into a profitable business of sorts. Basically, doing something that a person is a passionate about in hopes that the money will come. Only after about three months or so the project didn’t seem to be getting much traction and so the person closed it down to try a different idea. I was looking at the person’s history too and this appeared to be a common theme. That does beg the question on how long you should keep at it for something.

We are often taught the never give up mentality where many times people quit just when they were about to achieve success. At the same time, even from those business shows you see on TV people often say if something isn’t profitable then you should dump it fast as opposed to losing your home over it. Even I’m not too sure on what the right answer is as it seems so situational.

I think for myself the balance would be kind of like saying if you are just sweating a lot from doing the run then that is okay as it is something that you are persevering through. If for some reason you are always bleeding a lot while running then that means stop. I kind of see it that way when it comes to projects. I personally don’t expect crazy things to happen if I am doing something I love. But if it is financially draining me then that means I need to address that right away.

It could mean that I need to re-evaluate my resources and it just feels irresponsible to not address it right away. In my opinion anyways there isn’t a short cut or one right way to get to where you want. It could take someone ten years and another guy one day to achieve similar results through factors such as sheer luck. I often do hear the term “stop the bleeding” though which I think is the sign that you should address that first while still having the perseverance to keep going if you believe in something.




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