Sometime You'll Need To Sell Out
Unfortunately, that rate of success to failure is usually pretty low as many of our ideas fall apart and we start to detach ourselves from them as we accumulate better ideas that we wish to push forward with.
When that happens - especially for us serial entrepreneurs - we are left with a bag full of companies that we never really grew either because we didn't have the means to do so or we simply lost interest in the project.
Money, time, and energy were put into all of these ideas, thinking that they were going to be something big. However, just because you never followed through with the project, it doesn't mean that the idea was weak - it probably means that your interests lie elsewhere.
Have you ever considered selling those ventures to someone else? If not, you should start thinking about that. Just recently I was thinking how about my first company that I ever built (here's the story) and how it was just sitting around on my hard drive not doing anything.
Though I never really pushed forward with the site - even when it started making me some money - I strongly believe that it's a viable business and in the right hands someone can turn it into something great. Which is why I plan to sell the service in a few days.
As a young entrepreneur, you are going to accumulate ideas on top of ideas and there comes a point when you have to consolidate your resources into the things that you care about the most.
You'll need to practice a level of close-mindedness and have the ability to "sell out" on your other ideas and concentrate on the ones that you can really see growing into something big.
Selling Out on your ideas (among other things) can be done in many ways:
Literally selling your old ventures to people to raise cash, solidifying your position Simply to stop putting time and energy into an idea that isn't going anywhere or doing anything for you Stop associating with people who are steering you in a direction that isn't conducive for growing your business Blocking out the desire to go in a million directions and start focusing on what you (not other people) want to do with your life as an entrepreneur
Don't think of selling out as a bad thing, because it's not. It's a way to move forward with your business and to gain a superior position with what you are trying to do.
When you're running a business you should be playing chess, not checkers. Entrepreneurship - to a larger degree - take strategy and plotting; each move you make is going to be critical and you can't be scared to sacrifice a few pawns when your ultimate goal is to sack that king - to change the world!
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