Let’s face it. Many business ventures will ultimately fail. Unfortunately, there are no signposts along the way that says “Exit now or face financial ruin”.
Entrepreneurs often hang on, ignoring the signals that their business is doomed based on pride, or sometimes they just can’t see the forest for the trees.
I have often heard that if you put a frog in a pot of cold water, place it on the stove, and turn up the heat, that frog will remain there until he is cooked. However, if he were placed in a hot pot at the get-go he would simply jump out. I think this same tale holds true with entrepreneurs.
Sometimes entrepreneurs need an objective look from an outsider to help them see what others can see but the entrepreneur is blinded to.
Organizations like SCORE and the Small Business Development Center (SBDC) have offices all over the country and offer these services to both new and experienced entrepreneurs for free.
Is it time you got a second opinion about your current venture?
