Thursday, December 4, 2008
Some entrepreneurs are cursed with the "Never say die" attitude. Don't misunderstand me, I'm all for tenacity. But blind devotion to something that goes into uncharted (red) territory and sticking to it even though the voices inside (and out) are screaming at you to shut it down just isn't healthy nor does it make good business sense. Too many a founder continue to pile headstrong into an area where there's no hope of success for plenty of reasons, but it takes someone will not only humility but also vision to cut the cord and move on.
Today I sat down with a young founder who recently made the decision to discontinue operations on his venture to head into what he believes will be greener pastures.
I commend him on his decision to back away from where he is - not that I thought it was doomed to fail, but because the mere fact that he made the decision shows entrepreneurial maturity and a lack of emotional tie to a business that would cause him to fixate on the opportunity of possible, yet remote, success and blind him to the reality of the lack thereof. The decision he made is something that future investors and business partners should be aware of, but probably will never be privy to.
In the book that will tell the story of his life as an entrepreneur, his call to close this chapter and pen a new one is a telling insight into his character that will ultimately bring him success in the long run.
I look forward to reading what's next in his book.