When Should You Give Up On Your Dreams?

Last article talking about are you better off spending your spare time being frugal or earning more money? Now that you’ve decided to pursue your dream in a side business to make more money. However, nearly two-thirds of new businesses are doomed. Havard Business Review has a great advice about whether or not you should give up on your new dream. “You’ve recently launched your brainchild. But things aren’t off to a roaring start. Is it just the low end of the S-curve of growth, the flat line before things start to improve? Or is it just…well…a flat line?” Here’s how to decide to stick with your dream. Does your business occupy an otherwise unoccupied niche? Are you playing to your strengths? Have you assumed the right risks? Do you find your work difficult but not debilitating? Are you gaining momentum? If the answers are yes to those questions, then you’re on the low end of the curve and growth is coming. If you’ve carved a niche that you occupy from a position of strength, then it’s time to settle in and persevere. Otherwise, “knowing when to pull the plug can be the difference between sinking a rowboat and sinking the Titanic.” (hbr.org)