Persevere or Pivot

[Peullat]

Hello,

I have a question which is when to persevere and when to pivot ?

When should I stuck with my idea and don't give up ? and when to search for a new one and admit that I am wrong ?

Right now I have a business idea and I have been working on it for about 1 year with no results. Last week, I have an offer from a friend for a new business idea and leave the old one. What should I do ? Or should I ignore both of them and search for a third one ?

And I think is a very good question, when to persevere and when to pivot ?

 

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[ChrisGav]

How hard have you actually been working on this business idea for 1 year? Deep down, we all have an internal thermostat. We all know when we have given something our all, and when we have kind of half assed it. If you have truly given something your absolute all for 1 year and haven't gotten any traction what so ever, then the marketplace might be telling you something. I don't know any info on what exactly you're doing and this is a very vague question. You know deep down how much effort you've given this. Have you actually tried 100% for a year? Or were you going at 30% for a year wondering why you don't have 100% of the results you want?

 

[Peullat]

How hard have you actually been working on this business idea for 1 year? Deep down, we all have an internal thermostat. We all know when we have given something our all, and when we have kind of half assed it. If you have truly given something your absolute all for 1 year and haven't gotten any traction what so ever, then the marketplace might be telling you something. I don't know any info on what exactly you're doing and this is a very vague question. You know deep down how much effort you've given this. Have you actually tried 100% for a year? Or were you going at 30% for a year wondering why you don't have 100% of the results you want?

My initial business is a store for pet's food and accessory. I think that I could fulfill the 'Need command' because in my area there's only one store and that's store is not good at all.

My friends recommended that I and him jump in the NFT trends and start our own NFT collection.

To be honest, I didn't give it my 100%, it has been a while since I decide to launch a website and start marketing but I didn't.

 

[Kevin88660]

Hello,

I have a question which is when to persevere and when to pivot ?

When should I stuck with my idea and don't give up ? and when to search for a new one and admit that I am wrong ?

Right now I have a business idea and I have been working on it for about 1 year with no results. Last week, I have an offer from a friend for a new business idea and leave the old one. What should I do ? Or should I ignore both of them and search for a third one ?

And I think is a very good question, when to persevere and when to pivot ?

In my opinion 1 year is good enough to leave it for the next venture.

A good opportunity is self-evident and shouldn’t have any positive feedback after 1 year.

It is all about opportunity cost. The chance of a project with no result after one year gets a eureka moment on the 2nd or third year is not big to worth the time investment.

On the hand the two years time saved could let you try another 3-4 projects consecutively.

When I read the stories and interviews of successful founders they never got it right the first time. If you are destined to be successful on the 6th attempt the best thing you could have done to yourself is to minimize the time investment when the signals are clearly not there.

You could google about product market fit and related start-up literature.

 

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