[AltoLXI]

A thread to discuss all the facets of an entrepreneur's journey, to share the joys, trials and the tribulations as one navigates through the known unknowns, share the learnings with the wannabe innovators and entrepreneurs.

[dailydriver]

Originally Posted by greyhound82

We should have a dedicated thread for entrepreneurs to share their story

One hour is all the time we needed to fulfill your wish .

Please share snippets of your entrepreneurial journey here.

Originally Posted by AltoLXI

A thread to discuss all the facets of an entrepreneur's journey, to share the joys, trials and the tribulations as one navigates through the known unknowns, share the learnings with the wannabe innovators and entrepreneurs.

[am1m]

I know nothing about entrepreneurship, am unlikely to ever start anything on my own because I have zero business acumen. But I'll start with a question - how do you tell when it's time to wind up and when to just keep persevering. What are the signs?

My personal experience is working at a couple of tech startups. Especially those funded with external money. As far as dedication goes, I've seen that there is no lack on the part of the founders and team, and no intent to scam. But as far as realistically becoming profitable, or even getting acquired (forget IPO!), I've seen that both the places I've worked at didn't/don't seem to be getting anywhere. (In fact, one just wound up after 10 years.)

So what are the signs that tell a founder (and employees at one of these places!) that things aren't going to end well? Is there a time horizon? After x years there should be at least y% growth, revenue? (Thanks in advance for any pointers.)

[xcentrk]

Originally Posted by am1m

I know nothing about entrepreneurship, am unlikely to ever start anything on my own because I have zero business acumen. But I'll start with a question - how do you tell when it's time to wind up and when to just keep persevering. What are the signs?

My personal experience is working at a couple of tech startups. Especially those funded with external money. As far as dedication goes, I've seen that there is no lack on the part of the founders and team, and no intent to scam. But as far as realistically becoming profitable, or even getting acquired (forget IPO!), I've seen that both the places I've worked at didn't/don't seem to be getting anywhere. (In fact, one just wound up after 10 years.)

So what are the signs that tell a founder (and employees at one of these places!) that things aren't going to end well? Is there a time horizon? After x years there should be at least y% growth, revenue? (Thanks in advance for any pointers.)

If any business is stagnant in terms of profit, sales and income for more than 6 months it is time to reconsider the options and if no scope of improvement or any plan in action, it is time to WIND UP!

There is no set % for calculation, but it depends on what goals we set for the firm.

BTW I own a IT firm and running it since 2021. I have closed my first firm around 2020 and bounced back after that. So, I do know how hurtful it is to close a business and how hard it is mentally and physically. But this is how I decided when to shut shop and cut down the losses. The more you run without any sizeable profit, the more you are going to loose.