I talk about grit and the long run and not changing horses. It takes a long time to get really good at something and a long time to build a great business. This is true.
We can overcome many problems with innovation and determination and persistence. But some we cannot overcome. Or, maybe we can overcome them, but with great effort and time – maybe a lifetime. And if we put the same effort and energy into something that would bear fruit faster and easier, we’d be much farther ahead.
We may have “sunk cost bias”. We have so much time and effort and money sunk into a business that we don’t want to give up. But if we are in a dying business, have no gross margin, or have chronic problems we have been unable to solve, it may be time to get out to make room for a better mission to dedicate our life to.
If the horse is dead, get off.