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Episode 1610:
Steve Chou explores the fine line between perseverance and sunk cost fallacy, offering practical insights on recognizing when a business is no longer viable. By assessing profitability, passion, and market fit, he helps entrepreneurs make informed decisions about whether to push forward or walk away.
Read along with the original article(s) here: https://mywifequitherjob.com/when-is-it-time-to-give-up-on-your-business/
Quotes to ponder:
"When running a business, persistence is key. But at what point does persistence turn into throwing good money after bad?"
"If you are losing your passion, waking up every morning dreading work, and not making money, then it may be time to reevaluate."
"The most successful entrepreneurs are not afraid to pivot or shut down a failing venture to pursue a better opportunity."
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1610: How Do You Know When To Give Up On Your Business? by Steve Chou of My Wife Quit Her Job | Optimal Work Daily - Career, Productivity and Entrepreneurship podcast - Listen or read transcript on Metacast
