Theme: Knowing When to Bail
June 26, 2007Whether you are running a website or you are running a store or anything, you have to know when it is time to bail. There are times when, no matter how much you love something, you are just not going to have success. It is frustrating because you may really love your website or your business, but in the end, the people don’t need it. Assume that you run a website that offers a great product, but that product is now obsolete. If that product is obsolete, there is little you can do to change it around and make it better and that is frustrating.
Rather than pouring tons and tons of money into that product, you need to know when to get out. That’s why knowing when to bail is important. If you own a product that provides faster hosting, but someone owns a product that offers even faster hosting, which product will people go for? Now, rather than spending all that money on trying to make your product better, get out of that business. Or, you can work on doing something else. Expand on your product, make it better. But even that is considered bailing. You’re bailing on your current product and going to another product, a better product.
This post isn’t as encouraging as the others, but I see so many people try so hard to get their product out there and it’s just not wanted. I saw it with pixel websites and I see it now with word clouds. People try so hard to make money on a product that isn’t that great anymore that they spend more money that they would make. Knowing when to bail is important to continuing your success. You can save a hell of a lot of money and even revolutionize a new idea just because you got passed the fact your product wasn’t doing all that good. Bailing out isn’t giving up…It’s just changing your path.
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