Do or die?
Every project reaches a do-or-die moment. Has the venture gain enough support? Are the figures looking viable? Is it time to pull the plug?This is one of the greatest skills for a businesses person or entrepreneur to master. Entrepreneurs are typically taking risks, and those risks often tied up with their own personal lives. Knowing when to walk away before a doomed project has started can mean the difference between bankruptcy and limitless wealth. Not easy for a natural optimist!
So my current project has reach do-or-die day 1. Today I will gather all the information I have acquired so far, will speak to each member of the team, and make a decision. Of course, should we proceed there will be further opportunities to pull the plug, but this is the first real opportunity to asses the project from the perspective of knowledge instead of pure passion.
It’s a balancing act. Having the courage to forge ahead where most others would falter, yet being realistic about the chances of success.
posted by Paul Fisher @ 9:23 am
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