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Know When to Hold ‘em, Know When to Fold ‘em
Sometimes, an entrepreneur has to know when to throw in the towel.Nine days before Christmas, Jonathan Rosen of Scarsdale, N.Y., shut down Mobelex Designs, the home-office furniture retailer and wholesaler that he founded eight years earlier. In its early years, his company prospered, but then a combination of global forces knocked him to his knees: the Internet meltdown; the economic slump; a stronger euro, which hurt him as he bought primarily from Spanish and Italian makers; and cheap imports from China.
Not long after, Mr. Rosen did the unthinkable for many in the entrepreneurial world: instead of trying his luck in another business venture, he took a job in corporate America for the security of a weekly paycheck. “Sometimes it’s a smart idea to start a business,” he said, “and sometimes it’s a smart idea to end a business.”
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danakeith on June 17th, 2008 5:59 am
i like the phrase: “Sometimes it’s a smart idea to start a business,” he said, “and sometimes it’s a smart idea to end a business.”yes.. sometimes it works, but oftentimes it doesn’t.. trying our luck depends on how strong we are determined.
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