What to do when I feel like giving up on my business?

Did you know?

James Dyson, the founder of Dyson, designed 5,127 different prototypes in 15 years before he got his hands over the Dyson vacuum that he pitched to the British retailers but got rejected. Despite the denial, Dyson’s belief in his product encouraged him to launch the product through Japan catalogs. The product became a huge hit and paved the way for Dyson to have its own facility.

Fast forward to 2020, the company had a net income of US$8.2 billion with more than 13,000 employees.

As Vinci Lombardi quotes, “it’s not whether you get knocked down; it’s whether you get up”, is what this success story of James Dyson was all about.

You must be wondering how this story is a solution to the storm going in your mind. It is not. But, this story gave you the reality check that overnight success is an illusion. It is about not throwing the towel when it gets hard. Short and crisp, the story can be summed up by saying that “giving up is never a solution”.

If this success story still not inspired to keep going in your business, here are a few ways to bring yourself back on track:

Your business your way!

The most incredible thing about owning a business is that you can do it whenever you want to. Entrepreneurs consider themselves “Type-A” personalities who prefer to control and make their own decisions. You are in the power of creating your own business. But the key is to stay motivated that nothing can sway you, be it the prospect of failure. Plan, replan but never give up. The thought that you don’t want to work for someone else must take you through this emotion.

Recognize how far you have come

To fight over this feeling of failure, you must focus on how far you have come and what you have achieved. Try to pen down all the pain points you faced while setting up a business, and against those jot down everything you have achieved till now from your business. Just because you’re not making any money doesn’t mean that you aren’t making progress. Recall how far you have come and give the due credit to yourself.

Everything starts with your thoughts

Confusion, exhaustion, and moments where giving up seems tempting happens to everyone at one or the other point. But an imperative key that will keep you motivated is faith in yourself. As said, everything starts with the right thought process. You ought to face the facts and get familiar with the drawbacks of your business. Only then can you take the first step toward solutions.

Action is the real manifestation

When everything seems to be pointing towards failure or loss, never give up doing the action you did on a daily basis. It is important to consistently take those small steps every day because you never know how tables can turn. Every small action: be it sending a mail or planning a meeting with an investor, it’s all a path to growth, experience, and win. Stop reacting and start acting because you never know how things will unfold.

Find a mentor

Beginnings are always the hardest. Said that holding the hands of a mentor can take you through these times. They encourage and enable you on both professional and personal development aspects. They help you focus on your goals even when you struggle to reach them. Mentors demonstrate the value of goals, provide you with the right feedback and keep you productive when you wish to give up.

Task distribution

Multitasking may overwhelm you when exhaustion tempts you to give up. Thus, it becomes imperative to always keep track of your work hierarchy. As a result, a picture of what works and what doesn’t work becomes clearer, helping you make future adjustments quickly. Delegation of tasks is a perfect way to take the load off your shoulders and remain motivated.

Final takeaway

Entrepreneur or not, life tests everyone! However, the ultimate goal is to keep faith in yourself and everyone involved in the endeavor. Personal or professional, giving up can never be a snap decision. Success comes to those who will and dare, right? So, whenever you feel like giving up your business, just recall the milestones you achieved and dwell on them.

Success is not achieved overnight; it takes several peaks and valleys to attain it. So, stay inspired, focused and remember how far you have come. Be grateful for all accomplishments made by you and your team. Be patient in the long run, and then see what happens.