Is It Time To Give Up My Business? Reasons To Stay
It’s a recurring thought. I’m going to give up my business; it is too exhausting and the success that was envisioned is not in sight. It’s a struggle, nothing is going right, the bills are piling up, there are no sales, your friends and family are starting to lose hope in your business dreams and ideas. You just want to throw in the towel and call it quits.
I completely get it. Being a business owner is not easy. So many things can go wrong, and it’s easy to feel like you’re not made for this.
But before you make any rash decisions, I want you to take a step back and reconsider.
Yes, business is hard, and at times you will make bad decisions, but that doesn’t mean you should give up on your dream. There are plenty of people who have faced business failures and bounced back stronger than ever.
So, if you’re thinking of giving up, here’s what you might want to consider.
#1: Failure is normal in business.
One of the main reasons people feel like giving up on their business is because they view failure as a personal attack. They think that if they can’t make their business work, then they must be a failure as a person. This couldn’t be further from the truth! Failure is normal in business, and it’s actually essential for growth. If you never fail, then you’re not taking enough risks. And without risk, it’s impossible to achieve true success.
“Success is most often achieved by those who don’t know that failure is inevitable.” – Coco Chanel
So instead of beating yourself up over your failures, embrace them and learn from them. Each time you fail, you’re one step closer to becoming the successful business owner you’ve always wanted to be.
#2: Your friends and family might not understand what you’re going through.
If you’re struggling with your business, it’s easy to feel like you’re all alone. But the truth is, there are plenty of people who feel they aren’t succeeding in their business. And even though your friends and family might not understand what you’re going through, there are plenty of business owners who do.
One of the best things you can do when you’re discouraged about your business is to seek out a support group or community of like minded individuals. There are tons of online groups and forums where you can connect with other business owners and entrepreneurs. This support network will be more than happy to offer their support and advice. And chances are, they’ve been through what you’re experiencing. The best advice comes from those who have shared the same plight and have overcome it – take advantage and tap into this rich and resourceful wealth of knowledge and experience.
#3: It’s not always easy to tell when you should give up.
There’s no magic formula for deciding when to give up on your business. Sometimes it’s obvious, like when you’re constantly losing money or you can’t seem to make any headway. But other times, it’s not so clear. You might be stuck in a rut and not sure how to get out of it. Or you might be making some progress, but it’s slow going.
In these cases, it’s important to take a step back and assess your situation objectively. Talk to people you trust and do whatever you can to get a clear picture of what’s going on. Only then will you be able to make a decision about whether or not you should give up.
I’ve felt like throwing the towel in – numerous times! – and going to work for someone else again. In those times, I remind myself WHY. Why I started my business and why it’s so important for me to succeed. Without my why, I would have stopped persevering when times get tough. That’s why it’s so important for you to know what your why is.
Here’s why I want you to rethink giving it all up.
You’ll never know what could have been.
If you give up on your business, you’ll always be wondering. What could have been? What if you had just held on for a little longer? What if you had made that one key decision differently?
It’s easy to dwell on the past and beat yourself up over things that you can’t change, but it’s important to remember that everyone makes mistakes. The key is to learn from them and move on.
So, you’ve made a mistake. We’re only human. But what do you do when you make a mistake in your business? How do you move on from it?
Follow this list, it’s helped me guide my thinking.
Acknowledge the mistake
Figure out why it happened
Fix the damage done
Learn from it
And, then move past it.
Moving past it is often the hardest part, but when you can master the art of moving on, you’ll be able to see failures and mistakes as part of the journey and grow from them. Sounds cliche, but it helps tremendously to realize faults are lessons to grow from.
You may regret it later.
Giving up too soon is something that you may regret later on. You’ll look back and realize that you didn’t give yourself a fair chance to succeed. It’s important to remember that success takes time, and it’s not always going to be easy. In fact, it’s often very, very difficult, especially when you’re in the growth stage. There are so many things that are out of your control and it feels like you’re putting in your all. But trust me on this: If you’re willing to put in the hard work, it will pay off in the end, even if it’s not in the way you originally thought.
You’ll miss out on the good times.
There will be good times. Read that again.
Even in the darkest of times, there are always moments of light. If you give up, you discount yourself from experiencing those moments; the potential ceases immediately. You’ll never get to experience the joy of seeing your business grow and thrive. So, even when things are tough, hang in there and don’t give up.
Facing business failure will be tough, but it’s important to remember the positives. Yes, things may be difficult right now, but that doesn’t mean it will always be this way. Remember the good times, and think about how much you’ve accomplished already. It’s easy to get bogged down in the negative, but try to focus on the good and you’ll be surprised at how much it can help.
There will be good times.
You’ll never know your true potential.
Giving up too soon means that you’ll never get to see what you’re truly capable of. You might be surprised at how much you can achieve if you just keep going. Push yourself and see how far you can go.
I believe that we are all capable of being great. We just have to figure out how to ignite that genius in us. Maybe that means leaning on others to show us the way or taking a week for yourself: decompressing from others, technology or being surrounded by nature to clear your head. Whatever you need to do to tap into that genius zone, do it…your business will thank you for it.
Remember that why I was talking about earlier? If your why is truly important to you and you have even just a little bit of hope that you can keep going in your business, you may want to reconsider quitting. Of course, I don’t know your personal situation, and maybe moving on really is the right choice. But oftentimes we let fear of failing hold us back, and I don’t want you to let fear stop you from achieving your dreams!
Leaning on the Fence? What’s your next move now?
If reading this blog has made you think twice about quitting your business, the obvious next question is to consider what you can do differently, efficiently and correctly.
Here’s where digital marketing and branding come in. One of the biggest challenges businesses face is converting leads into loyal customers. In our opinion, it all comes down to your branding and then your website.
Brand identity is an essential component of your digital marketing strategy and it includes not only the visual aspects of your brand but the brand messaging, too. The way you speak to your customers and present your business is so important and is one of the biggest determinants of your success. Your potential customers need to clearly understand how your brand can help make their life better and what they need to do to take action. This is what we call story-based marketing.
The Power of Story-Based Marketing
If your current brand messaging isn’t converting leads into sales, it might be time that you give the power of storytelling a try. Lead your potential customers through a journey with the story that you tell on your website. Tell this story clearly and concisely without using too much jargon or confusing words.
Basically, if you aren’t getting enough sales, we’re suggesting that you give your brand identity and website a re-do. There may be components of your branding and website that are working, and that’s great – keep those! But likely, there are many parts that aren’t working well, and those may be contributing to your lack of success. If you keep trying the same thing over and over, it’s unlikely that your business will get more successful, and a great place to start is with your brand identity and website.
If you’re not sure how to do this or what all of this even means, we can help. Evolve Global Marketing is a creative branding agency that can grow your business through brand strategy and web design, all using the power of storytelling. If you want to learn more about what we can do for you, check out our website or read some of our recent projects. Or, you can always feel free to schedule a no-pressure call with us – we’re happy to chat. Hope this helps and happy evolving!