The truth is that if your business isn’t succeeding then your problems are far more internal than a simple need for more money or for a feature on Oprah. Your business plan itself needs re-evaulating and tweaking so that you hit the right formula and it becomes viable. Ignoring this fact is a sure recipe for failure and how I learned this lesson in the first place.
Based on this I’ve come up with a rule of thumb for evaluating the difference between a business that needs more time to become profitable and one that is dead in the water. It’s very simple:
A business that has the potential to succeed with time is working hard to make the improvements and changes required for market success. A dead business continues to operate on the same weakly performing ideas and methods.
Photo by Яick Harris.