Kind of a crazy story I was reading today as there was a person who literally sold all of his large investments in life such as his home to pursue a business idea. The thing was he has apparently been chasing this idea for over a decade and has generated very little sales. However, he refuses to give up as he doesn’t believe in giving up on something.
It’s kind of tricky in some ways as you can argue that you have to have that never giving up mentality to succeed. But at what point do you say it is not worth sacrificing everything else that you have accomplished if it is continuously producing bad results? That’s usually where you hear the contracting and conflicting advices I say as in one end a person would tell you to stick at it and another would say jump out right away if it seems like it is costing you too much. When you think about it too I’m sure everyone has read positive and negative stories in these scenarios.
I guess the only real middle ground is that if you are trying some kind of new idea or venture that requires a lot of your personal money is to only invest what you know you can lose without it impacting yourself too much. If you don’t think you have enough then that means you have to find a way to earn more first. It’s just a little amazing when people who feel that they have never failed at anything in life could all of a sudden just risk all of their money thinking nothing can ever go wrong.
I would think too before divulging into ideas that are way out of your financial range that trying to get investors can be good when it comes to the money plus if anything it’s kind of free feedback ahead of time to see how receptive your idea is with others before investing too much into it yourself.