Posts Tagged ‘give up’

Should you always persist?

by Vijay Peduru on March 7, 2011

We all have heard many successful entrepreneurs and successful people talking about persistence and how persistence is one of the main ingredients for success.  The famous quote by Vince Lombardi “Winners never quit and quitters never win.” Has perhaps been quoted many times by many people!

But if you look at any successful person – along with persistence comes also the wisdom to quit if something is not working out well.  In fact, business laws like chapter 11 and Chapter 7 are setup for this, Chapter 11 just means “We are going to stop doing what we were doing because it is not working out well for us and start with something new.  Chapter 7 means “We give up”

Declaring bankruptcy is sometimes good, so we can continue without the baggage from before. Here is a good example of a  19-Year-Old kid taking On Google. If you read his story, this kid Daniel Gross worked for 3 months on several ideas but nothing satisfied him and when he had 48hrs left he built a new one and continued to work on it for the next several months.  This is a good example of when to persist and when to quit.

This “quit or persist” works in anything in our life… A startup idea, a habit, an addiction. At any point of time, we can decide if we need to quit or persist.

Quitting is painful and is not fun, but perhaps it is better to acknowledge the failure, so we can start with fresh ideas and fresh perspectives.  When we know where we want to go and if what we are doing now does not seem to get us there, it is good to quit and maybe just maybe we will discover a better future than we anticipated.

What can Entrepreneurs learn from Ants?

by Vijay Peduru on July 31, 2009

Hard-Work-Ant

Yes, ants are tiny enough indeed to go unnoticed. However, if we pay close attention and watch them, we find that they possess numerous habits that successful entrepreneurs display. Here are three of them:

#1: Never Quit:

When you place an obstacle in their path, ants will always find another way. They will climb up, down or around to get to where they want to go. This is what an entrepreneur does, as well, when faced with an obstacle. Throughout the startup journey and especially when things do not go well, an entrepreneur overcomes the obstacles and finds a way to keep on going… even if it means redefining the problem, sometimes!  For example, PayPal changed its business model half a dozen times, before the current model became successful. Another example is Flickr, which started as a multiplayer game and ended up as a photo sharing site.

#2: Always look ahead:

Ants gather food in the summer and store for the cold winter months – They plan for known contingencies and are “looking ahead”. Similarly, an entrepreneur’s journey is strewn with problems that they can anticipate ahead of time. Successful entrepreneurs learn to anticipate what can go wrong in the future and prepare for these situations

#3: Do all you can:

Ants never cease to work. They work tirelessly to gather as much food as they can. They are absolutely focused and dedicated to achieving their goals. Entrepreneurs are not very different. They work tirelessly to give shape to their dream. Of course, it’s simply not possible to know the future; the best one can do is do their best and perhaps switch to something else… and do your best at that, if the original one does not work!

This quote from Andy grove, founder of Intel, sums it up well:
“I think it is very important for you to do two things: act on your temporary conviction as if it was a real conviction; and when you realize that you are wrong, correct course very quickly.” —Andy Grove

Special thanks to Jim Rohn, whose teachings inspired me to write this article.

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