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A Walmart Business study shows that 70% of small business owners experience burnout at least once a month and only 10% feel they take enough vacation. This statistic highlights the challenge most entrepreneurs face in maintaining a healthy work-life balance.

As an entrepreneur, I am not indifferent to this concern. I know there is negative sentiment on hustle culture and I want to change this mindset through our social hustling community, Fud. Our goal is to take the hustle back where it is about working smarter and finding freedom, building something enduring and not chasing growth at all costs.

It’s time to take a shift from the relentless all-in hustle culture to a healthy mindset that integrates personal well-being with professional achievement. Here are three rules I practice to build a resilient business while leading a balanced and fulfilling life.

Related: 8 Ways Successful People Master Resilience

Work hard then work smart

It’s a deeply ingrained belief that hard work is the ultimate path to success. When I started my entrepreneurial journey, I used to work tirelessly, push harder and clock endless hours, believing that it’s the only way to reach the top.

Over time, I realized that progress is not only determined by how hard I work. Doing everything on my own and prioritizing work above all else doesn’t always yield better results and can negatively impact my health and relationships. I knew I needed a smarter approach to work if I want to overcome my limitations and grow a scalable business.

But there’s a catch: Working smarter only works when hard work is put in first. This means laying the foundation to support a stable business. Every time I start a new venture, I keep this in mind and commit to mastering my craft, understanding the market, expanding my network and learning from failures.

After establishing systems, building my expertise and earning my reputation, I shift to working smart. I decided to be intentional with my time and effort to create a meaningful impact in both my business and personal life. Working smart means having a clear vision and strategy, maximizing resources, optimizing processes and creating space for collaboration and support. This can involve hiring a team, outsourcing activities or leveraging technology to automate tasks and boost productivity.

It also includes spending time with family and nurturing relationships. I find that investing in my personal growth, seeking help when needed and taking time to rest help recharge me and keep me motivated to achieve my goals. Working really hard and then working smart gives me the confidence to trust my team and the process, so I can focus on strategic decisions to drive my business toward long-term success without neglecting my health and well-being.

Related: Resilience Is One of the Most Essential Entrepreneurial Traits. Practicing This Can Help You Build It.

Take grit with self-compassion

According to Angela Duckworth, a psychologist and pioneer researcher of grit, individuals with high levels of grit show strong perseverance and passion for long-term goals which makes them more likely to succeed in their personal and professional endeavors. Through her research, she found that grit can be developed through experience, which is why many entrepreneurs focus on strengthening this trait.

However, the problem is that an intense pursuit of grit can sometimes overlook emotional well-being. Relentless perseverance can be counterproductive when setbacks are taken too personally, leading to self-criticism that instills self-doubt, reduces motivation and increases the risk of burnout.

To build grit holistically, it should be balanced with self-compassion. Being able to face challenges with kindness and understanding helps in assessing the problem objectively and gives a new perspective to find effective solutions. Combining grit with self-compassion fosters resilience in a way that is both sustainable and mentally supportive.

Choose to pivot than power through

As an entrepreneur, knowing when to change course and take a different approach could mean the difference between failing like Kodak and thriving like Netflix. Kodak became fixated on preserving its legacy through their film-based business model and was reluctant to innovate in the digital era. This ultimately rendered their products and services obsolete, leading them to declare bankruptcy in 2012.

Meanwhile, Netflix is a great example of a business adapting to the changes in the market. From a DVD rental service, the company pivoted to streaming and later expanded into content production, becoming a leading player in the streaming and entertainment industry today.

I encountered a similar challenge with my UK-based startup, SimplyFinance. We specialized in lead generation for personal finance when the Great Financial Crisis hit. At the start, mortgage leads were valued at up to £200 each, but during the Global Financial Crisis, they plummeted to just 50 pence per lead.

Related: The Art of Navigating ‘No’ — When to Persist, Pivot or Give Up and Pack it In

As the market declined, I made the mistake of taking it personally and pushed myself to work twice as hard, believing I could turn things around on my own. In hindsight, I should have taken a step back, assessed the situation more objectively and sought help since I didn’t have all the answers.

After rethinking our approach, SimplyFinance successfully pivoted into insurance leads and a Q&A service for investment advice. I realized it was crucial to evaluate our strengths and adapt rather than resist the realities of the marketplace.

Entrepreneurs who power through challenges in any circumstance can be seen as commendable. However, their strong commitment to a specific goal or method, combined with a reluctance to adapt may sometimes cause them to miss opportunities for greater success. While hard work and grit can turn dreams into reality, it’s essential for business leaders to regularly assess whether both the means and end goals are still relevant and valuable to the markets they serve.

Unlearning and redefining long-standing beliefs is truly challenging, but a holistic approach to success is what we need for sustained growth and long-term success. Hard work should be guided by strategy, grit tempered with self-compassion and commitment balanced with adaptability. Remember, true success enhances all aspects of life, not detracts from it.

Managing projects is no small feat. Whether you’re juggling tasks, budgets, or timelines, you need tools that work as hard as you do. That’s where Microsoft Project 2021 Professional comes in—a powerful project management solution designed to help business leaders and project managers stay on track.

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With Microsoft Project Pro 2021, you can take control of your workflows and deliver faster results. Use pre-built templates to kickstart your projects, create detailed timelines for tracking progress, and leverage auto-scheduling tools to reduce inefficiencies. Whether managing a small team or overseeing a large-scale initiative, this tool provides everything you need to stay organized and informed.

Easily assign tasks, set dependencies, and automatically calculate start and end dates. It also helps with resource allocation. Track your team’s workloads and allocate resources where they’re needed most.

You’ll also be able to utilize data-driven decision-making. For example, you can run what-if scenarios to optimize task assignments and make informed decisions.

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No matter how full your plate is, Project can help make things easier. Working with multiple timelines? You can visualize complex schedules and stay ahead of deadlines with built-in timelines. You can even sync with Project Online and Project Server for real-time updates and collaboration.

Microsoft Project Pro 2021 isn’t just for large-scale organizations—it’s perfect for small businesses, startups, and freelancers, too. Its flexibility means it can handle projects of all sizes and complexities, from event planning to enterprise-level operations.

Because this is a lifetime license, there are no recurring subscription fees—making it an incredible long-term investment. Plus, since it’s a digital download, it makes a useful gift that doesn’t require shipping time.

Head to checkout to get this lifetime license to MS Project while it’s on sale for the holidays for just $17.97 (reg. $249.99) through December 22.

StackSocial prices subject to change.

Starting a small business is an exciting journey filled with opportunities and challenges. One of the most critical aspects of this journey is managing costs effectively. From selecting the most suitable business and legal structures to crafting a robust financial plan, there are various avenues to explore that will ensure your venture is off to a solid start.

Related: Considering franchise ownership? Get started now to find your personalized list of franchises that match your lifestyle, interests and budget.

Choose the right business structure

Selecting the right business structure is one of the earliest and most pivotal decisions you will make as a small business owner. This choice will substantially impact your liability protection, tax responsibilities, and operational adaptability. Let’s delve into the advantages and disadvantages of the most common business structures: Sole proprietorship, LLCs, and S-Corps. Liability protection is a crucial consideration when choosing a business structure.

Sole Proprietorship Business and Tax Structure:

• Structure: A sole proprietorship is owned and operated by a single individual. The owner has unlimited personal liability, meaning they are personally responsible for all business debts and legal obligations.
• Tax implication: A sole proprietorship benefits from “pass-through” taxation. This means that the business itself is not taxed separately from the owner. Instead, the income and losses from the business pass through to the owner’s personal tax return.

LLC Business and Tax Structure:

• Structure: An LLC (Limited Liability Company) is a popular choice for business owners because it separates your assets from your business’s debts and liabilities. This means your finances are protected if your business is sued or faced with claims.
• Tax implication: LLCs offer pass-through taxation, a mechanism that can simplify your tax obligations by allowing profits and losses to be reported on your tax return. This can help smaller businesses avoid the complexities of double taxation.

S-Corps (Subchapter S Corporations) Business and Tax Structure:

• Structure: S-Corps (Subchapter S Corporations) provide liability protection, but they have more formal operations, and there are more requirements to maintain your status.
• Tax implication: S-Corps also provides pass-through taxation, but with this structure comes the added complexity of stricter IRS regulations.

It’s wise to think ahead about your company’s future. You might need to expand, take on new partners, or change ownership. Some legal structures are more adaptable to these shifts than others. Choosing a structure that can grow and change with your business can save you time and money in the long run.

Complexity, cost, and future growth

The complexity and cost of each structure can vary significantly. LLCs and S-Corps require formal registration with the state and ongoing compliance, such as filing annual reports and paying fees. This can add to both the initial and ongoing costs. Sole proprietorships are generally more straightforward and less expensive. A sole proprietorship also requires minimal paperwork and formalities to start and maintain the business. However, the lack of liability protection may outweigh the cost savings in the long run.

Related: See The Entrepreneur 2024 Top Franchise Supplier List

Create a financial plan

Creating a financial plan is a critical first step when starting a small business because it will help you manage your finances effectively and ensure the long-term viability of your business. Your financial plan will also become valuable for attracting investors and lenders—initial expenses. Your initial expenses are the costs you will incur to get your business up and running.

The next step is to forecast your income and profits. This process starts with estimating your future sales based on market research, industry data, and sales pipeline. Accurate sales forecasting helps you to set better targets and plans. It also allows you to manage your cash flow and determine the funding or investment required.

Budgeting is a critical component of financial planning. A well-constructed budget will allocate funds to different categories of expenses to ensure that the company is operating within its means. Equally important is the monitoring of these expenditures. Maintaining detailed financial records and reviewing financial reports regularly is also essential. Reports such as income statements and balance sheets can provide a comprehensive overview of your financial performance and highlight areas that require your attention.

Related: The Critical First 100 Days of Onboarding — What You’re Likely Overlooking That Could Make or Break Your New Hire

Is franchising an option?

For small business owners, franchising can be an appealing way to start a business. But it’s not for everyone. There are pros and cons to franchising. A significant advantage is that you get to be your boss while also benefiting from a recognized brand. This can help you get customers in the door more quickly than if you were starting a business from scratch. But you also need to consider the costs. Franchises can be expensive, so carefully consider the costs and benefits.

When exploring franchising, finding opportunities that align closely with your business objectives and financial capacity is essential. Conducting thorough research can help identify franchises that offer support in marketing, training, and operational procedures. This support is invaluable, especially for new entrepreneurs, as it provides a proven business model and operational framework. However, this comes with trade-offs in terms of flexibility and brand control.

Ultimately, the decision to pursue franchising should be based on a comprehensive evaluation of its benefits and drawbacks, as well as your specific business objectives and financial situation. While franchising offers the advantage of working within a proven business model and leveraging an established brand, it also comes with operational fees, set guidelines, and legal obligations. By carefully considering these factors and seeking expert advice, small business owners can make an informed decision that supports their long-term success.

Embarking on a small business venture is a thrilling journey filled with opportunities and challenges. Remember, every decision should align with your long-term goals and financial capacity. With thorough research, expert advice, and a proactive approach to cost management, you can navigate the complexities of starting a company and steer your venture toward sustained growth and profitability.

Related: Find Out Which Brands Have Ranked on the Franchise 500 for Longest, Earning a Spot In our New ‘Hall of Fame’

Google has made multi-million dollar investments in founders, internet infrastructure and clean energy, but its biggest gamble so far has been choosing to add AI to search, says Google’s chief investment officer and president Ruth Porat.

“The biggest bet we continue to make is actually the application of AI to search and continuing to evolve that experience,” Porat said earlier this week at the Reuters NEXT Conference. “We’re meeting people where they want to be met. It’s extraordinary.”

Porat mentioned that it was “beautiful” to see Google Search go from “10 blue links,” or the 10 links per page that characterized Google’s old search result interface, to now AI overviews, or AI-written summaries of search results that populate at the top of Search.

“It keeps evolving,” she said.

^{Google CIO Ruth Porat. Photo by Joe Scarnici/Getty Images for Fortune}

Google began rolling out AI overviews to U.S. users in May. Almost immediately, things started going wrong. The AI search results were hallucinating or spewing inaccuracies, telling users to eat rocks or make pizza sauce with non-toxic glue, for example.

Related: These Are AI’s ‘Most Obvious’ Risks, According to Google’s Former CEO

In the following months, Google adjusted the sources that it drew from for AI overviews, shifting away from forum-based sites like Reddit and more to sites with specialized knowledge, like Runners World.

Now, it’s clear that Google intends to keep adding AI features to search, even if it is a risky move.

Last week, Google CEO Sundar Pichai explained at the New York Times DealBook Summit that Google Search will significantly change next year. As AI models get more advanced, Search will be able to handle more complex questions than ever.

“I think you’ll be surprised even early in ’25 the kind of newer things Search can do compared to where it is today,” he said.

Related: Google CEO Sundar Pichai Says ‘You’ll Be Surprised’ By How Google Search Changes Next Year

Google has 89.98% of the global search engine market share, according to Stat Counter, with competitors like Bing and Yahoo! only holding 3.94% and 1.24% respectively.

The Future of Mornings: 5 AI Hacks You Can’t Ignore

By 2025, AI-powered tools will optimize workflows in ways we never thought possible, potentially slashing costs and streamlining operations at levels many businesses aren’t ready for. With companies like Anthropic, Microsoft, Google, and OpenAI racing to lead this AI evolution, “Phase 3” of AI—where tools act as productivity-boosting digital assistants—is closer than you think. It’s here now!

In this video, we’ll dive deep into 5 rule-breaking AI hacks that will transform your mornings from sluggish to supercharged. Discover how these AI assistants work, and why they’re set to redefine productivity, profitability, and your daily routine. I’ll break down strategies to integrate these hacks into your own mornings and show you what’s needed to stay ahead of this game-changing technology.

Download the free ‘AI Success Kit’ (limited time only). And you’ll also get a free chapter from Ben’s brand new book, ‘The Wolf is at The Door – How to Survive and Thrive in an AI-Driven World.’

Repetitive tasks are everywhere — think report generation, email sorting and system checks — but they are still daunting for most businesses. Unfortunately, even though 90% of businesses recognize the apparent benefits of automation, 70% remain bogged down by the misconception that it is complex and hard to adopt.

At the same time, the C-suite is under pressure to drive results amid protracted inflation, supply chain disruptions, market volatility and recession fears. This pressure pushes them to trim costs and boost efficiency. Throughout it all, the imperative of providing better customer and employee experiences always remains at the top of my mind.

With all these challenges, it’s time to cut through the myths and focus on the fact that automation isn’t just a nice-to-have — it’s a productivity must.

Related: Why Automation is Crucial for all Small Business Owners

Beyond the buzzwords of automation

Automation is more than just a trend for companies that have truly embraced it and rely on it to be a strategic asset. Today, 91% of organizations have dedicated teams focused on IT automation. Even small to mid-size businesses view automation as a game changer.

In fact, 88% of SMB owners believe automation allows them to go head-to-head with larger players by empowering these businesses to scale smarter, respond faster and better optimize the limited resources they have while remaining competitive.

The potential of automation goes far beyond routine maintenance tasks. Yes, it can handle system updates, data backup, user provisioning, and so on, as well as filling in for the IT teams in their daily tasks. However, automation also plays a crucial role in areas that cannot afford risks and errors like network security, access management and patch management.

In these cases, real-time monitoring tools can identify any potential risks or unusual activity the moment they arise, giving IT teams a heads-up to act before minor issues escalate. Automating these critical areas could mean tighter security, fewer human errors, and a faster response to evolving threats.

Furthermore, in high-stakes environments, automation becomes a compliance ally, creating audit-ready logs and adapting quickly to regulatory shifts without extra legwork. For executives, the benefits are clear and measurable. They believe that automation could increase their workforce capacity, equivalent to adding 2.4 million extra full-time employees.

Related: How Connecting With the Right Audience Drives Long-Term Business Success

Five things to look for when bringing automation to the table

Automation can transform the way businesses work, but making it count means being smart about where and how it’s applied. Here’s what to keep in mind as you get started.

1. Focus on high-impact areas to apply automation. Automation applied to an inefficient operation will only magnify the inefficiency. So, start small by analyzing daily workflows and pinpointing repetitive tasks that take up time. Prioritizing these tasks for automation can yield quick productivity gains. Establish clear success metrics to ensure that the automation performs as intended and delivers meaningful results.

2. Opt for platforms that seamlessly fit your stack. For an automation tool to truly add value, it must fit smoothly within the existing tech stack. Yet, 30% of users report that their automation tools lack full integration with cloud and SaaS technologies, creating expensive gaps. To avoid these catches, prioritize platforms that can integrate easily with core IT tools. Integration Platform as a Service (iPaaS) solutions could be effective here, connecting diverse applications, data sources, and both on-premises and cloud systems into a unified framework for IT automation.

3. Go for scalable platforms that can grow with you. Choose platforms that can scale and evolve with your company, adding advanced features as your needs grow. A modular automation approach, for instance, provides the flexibility to initially automate basic workflows and later integrate advanced analytics or AI-driven decision-making modules. A truly scalable IT automation platform adapts to your growth trajectory while supporting an agile environment that keeps pace with evolving needs

4. Prioritize platforms that have security and compliance built in. With loads of data handled and tasks autonomously executed without human intervention, it’s imperative to look for platforms that embed robust security measures, like end-to-end encryption and automated compliance checks. These features safeguard sensitive information, block unauthorized access and keep us aligned with industry regulations such as GDPR or HIPAA.

5. Seek flexible platforms that adapt to your needs. Choose platforms that allow you to customize configurations unique to your business needs. This flexibility can include setting up detailed audit trails to track system changes or implementing industry-specific workflows such as supply chain logistics or patient record management in healthcare. This flexibility ensures that your automation solution isn’t a one-size-fits-all approach but is tailored to align with your organization’s structure.

Related: 5 Ways Automation Can Help Your Business

Unlock automation’s full potential

Even with advanced automation tools in place, automating certain tasks may still remain just out of reach. That’s where custom scripts come in, providing the last-mile coverage that allows IT admins to design solutions tailored to unique business needs. However, deploying scripts across endpoints comes with its own challenges, especially with validation and timing. Implementing them at the right moment is often the hardest part.

Unified Endpoint Management platforms could simplify this process by assisting IT admins with the generation, validation and scheduling of scripts for timely deployments. And with AI now in the mix, automation has leveled up, creating opportunities limited only by the imagination of those designing the workflows.

Ultimately, making the most out of automation is not just about implementing the right tools. It’s more of a piecemeal process, requiring thorough evaluation, refinement, and maintenance. Just as important is training employees who work closely with these tools, empowering them to fully capitalize on the platform’s potential. By strategically aligning automation strategies with their unique needs and size, businesses can position themselves to stay ahead of the game.

Communicating complex information effectively is critical when managing large-scale projects, brainstorming solutions, or organizing workflows. Whether you’re a business professional, a designer, or a project manager, having the right tools to create clear, impactful visuals can save time and eliminate confusion.

Not a professional designer? That’s fine. With Microsoft Visio Professional 2021, you don’t have to be. Visio is an all-in-one data diagramming solution that transforms dense data and ideas into easy-to-understand visuals. And for a limited time, you can secure a lifetime license for just $17.97 (regularly $249).

No design skills needed

When you’re dealing with complex workflows or data-heavy projects, clarity is key. Microsoft Visio makes it simple to present detailed concepts, workflows, and structures through professional-grade diagrams. With dozens of pre-made templates and access to over 250,000 customizable shapes, you can build everything from flowcharts and org charts to network diagrams and floor plans. Whether you’re designing a workspace layout, illustrating a process, or mapping out organizational hierarchies, Visio helps turn raw information into visuals that everyone can understand.

Visio’s seamless collaboration features make it easy to work on diagrams together, whether you’re in the same office or halfway across the world. Integrations with Microsoft 365 tools like OneDrive and SharePoint ensure your work is saved, shared, and synced across devices effortlessly.

You can even automatically generate org charts from data sources like Excel or Exchange, use your touch-enabled device to draw or annotate.

The best data visuals are living things that develop as new data comes in, and Visio can help there, too. You can link your diagrams to internal or external sources to automatically update.

Features galore

Usually priced at $249, this lifetime license for Microsoft Visio 2021 is available now for just $17.97.

Sale ends December 22 at 11:59 p.m. PT.

StackSocial prices subject to change.

Kevin O’Leary says that firing someone is the most challenging aspect of leadership. Luckily the “Shark Tank” star and multimillionaire entrepreneur has some tips for firing effectively.

In a social media clip posted to Instagram on Thursday, O’Leary outlined how he thinks about firing someone and how he goes through with it. The clip appears to be a repost of O’Leary’s remarks at the iCONIC: Seattle conference in April 2016.

First, O’Leary said that the moment to fire someone is when you realize they aren’t right for the job. Delaying the firing isn’t fair to them.

“It’s not about you,” O’Leary said. “It’s not fair to them and to the people they are working with and the team that they’re part of.”

Related: Kevin O’Leary Says This Is the One Skill He Looks For in a Leader — But It’s ‘Almost Impossible to Find’

When the firing is taking place, the most important element is explaining why it is happening to the person.

“I do that myself,” O’Leary said. “It’s the hardest thing to do.”

This part is necessary though, O’Leary explained, because otherwise, the person won’t learn anything from it.

After the termination, O’Leary makes sure that the affected employee gets a “fantastic package,” counseling, and everything they need to find another job — as long as the job isn’t with his company.

Related: Kevin O’Leary Is Launching a New Agency With the Founder of Shazam — Here’s Why He Says It’s a Game Changer

Despite the mixed emotions that come with letting an employee go, O’Leary says firing is a necessary part of leadership. If you can’t make cuts to your team, “you’re the wrong leader” for the organization, he said in the video.

O’Leary was fired once, too. As a teenager, he worked at a mall scooping ice cream. He refused to scrape gum off of the floor, stating that it wasn’t part of his job description, and was fired for it.

O’Leary credits that moment as the start of his entrepreneurial journey — on that day, he swore he would never work for anyone else.

“That was the beginning of my journey,” he said in an interview that aired in 2013.

Related: How Kevin O’Leary Overcame 6 Formative Failures

At WIRED’s “The Big Interview” event earlier this month, Cost Plus Drugs founder and “Shark Tank” star Mark Cuban was asked why he doesn’t make more profit at his low-price drug company.

“You’re pretty clear that you are not doing this for altruistic reasons — you’re running a business,” noted the event moderator.

“Well, I could make more money,” Cuban said, to laughs in the crowd. “We’re a public benefit corporation. But how much f—ing money do I need?”

“I’m not trying to go to Mars,” he added, with an obvious dig at his billionaire rival Elon Musk.

Related: Mark Cuban’s Startup Is Sending Its First Batch of Essential Meds to Hospitals Facing Shortages

What Is Cost Plus Drugs?

Mark Cuban Cost Plus Drug Co. is an online pharmacy co-founded by Cuban and radiologist Alex Oshmyansky to disrupt the pharmaceutical industry and lower drug costs. It launched in January 2022 and offers more than 2,300 prescription medications and delivery.

How Does Cost Plus Drugs Price Its Medications?

On the company website, Cuban outlines how the price structure works: Cost Plus marks the base price up by 15%, and then adds on the actual cost that the pharmacy charges them to prepare the medication.

So a drug like Albendazole, for example, which treats ringworm and costs around $113 elsewhere, according to Drugs.com, is $35, as per the letter. (Cuban wrote that the company paid $26.08.)

“Many people are spending crazy amounts of money each month just to stay healthy,” Cuban wrote. “No American should have to suffer or worse – because they can’t afford basic prescription medications.”

Related: How Mark Cuban Forced the Biggest U.S. Pharmacy to Upend Its Business

What Is a Public Benefit Corporation?

A benefit corporation—also known as a B Corporation—has shareholders who own the company, unlike a non-profit. So making money is the point, just not the whole point.

While non-profits (or not-for-profits) serve a public benefit and don’t make any profits, benefit corporations want to make money while still serving a greater purpose than itself “and a desire for the corporation to help make the world a better place,” according to Rick Bell of Harvard Business Services.

Hi, I’m Dima, the bootstrapped solo founder of PitchBob — a tool designed to help aspiring entrepreneurs bring their ideas to life.

I want to start with a disclaimer: My entrepreneurial journey isn’t my first. I’ve had significant experience building businesses in the past, and my choices with PitchBob are deliberate. Whether bootstrapping or going solo, these were calculated decisions, not mere accidents.

Yet, despite this experience, I can’t count how many times I’ve wrestled with the urge to quit — whether it’s freezing progress, pivoting or walking away entirely. These thoughts come even as PitchBob remains the central focus of my attention, time and financial resources over the past two years.

As the year ends, I find myself reflecting on deadlines — self-imposed checkpoints to evaluate whether PitchBob has “taken off” or if it’s time to face hard truths. The concept of success for a startup often remains fluid, and that ambiguity can create a space for internal negotiations: Should I persist, or is it time to move on?

Related: I Want to Throw in the Towel and Quit My Business — Here’s How to Know When to Stick With or Let Go of Your Business

The takeoff analogy: Evaluating progress

I often compare new ideas to an airplane racing down a runway. The engines are roaring, the plane is gathering speed, and the wings are twitching — but it hasn’t yet lifted off the ground. In such moments, the captain feels in control … except for one thing: the finite length of the runway.

As a founder, your job is to assess this runway — your available time, resources and market opportunity. Is there enough momentum for takeoff? Should you push forward, or is it time to pull the brakes and pivot?

This analogy serves as a framework for one of the most challenging questions entrepreneurs face: When is it time to quit, and when should you double down? It’s a universal dilemma, epitomized in that famous image of a miner walking away just inches from striking gold.

Is entrepreneurship a form of addiction?

There’s a thin line between passion and obsession. Entrepreneurship can sometimes resemble an addiction — an insatiable drive to build, create and succeed, even when faced with mounting evidence that things aren’t working. Blind faith in your vision, ignoring harsh market feedback or stubbornly pushing forward despite red flags often leads to failure.

Worse, the emotional highs and lows of running a startup can mirror the cycle of addiction. The exhilaration of launching a product, closing a deal or securing funding can quickly be followed by crushing lows when things don’t go as planned.

So, how do you know when you’re pushing too hard?

How can you avoid the trap of throwing good money, time and energy after bad?

To address this, let’s examine eight key signs that help founders determine whether to persevere or let go.

When to let go

1. Lack of progress despite effort

If months (or even years) of focused effort have yielded little to no progress, consider whether the problem lies in market demand rather than execution.

2. Consistent negative feedback

If customers, partners or investors consistently resist, it’s time to revisit your assumptions. Sometimes, the market simply isn’t ready or interested.

3. Personal well-being is declining

If your startup is harming your health, finances or relationships, it’s a red flag. No business idea is worth personal destruction.

4. The runway is gone

If you’ve depleted your financial, emotional and temporal resources, it might be better to land the plane than risk a crash.

Related: 7 Signs It’s Time to Quit Your Business

When to persevere

1. You’re seeing traction

Even minor signs of customer or user engagement can signal that your idea has potential. Sometimes, a few tweaks can unlock significant growth.

2. A clear path forward exists

If you’ve identified actionable next steps that could move the needle, it’s worth staying the course.

3. External validation

Support from credible investors, partners or advisors can reaffirm your belief in the venture and provide critical resources to continue.

4. Your passion still burns bright

Passion can be the fuel that powers persistence. It might be worth pushing through if you’re still excited about solving the problem.

Balancing grit and realism

Entrepreneurship often glorifies grit — “Never give up” is a mantra we’ve all heard. But the reality is more nuanced. While perseverance is critical, so is the ability to evaluate when a venture has reached its natural conclusion.

The key is honest self-reflection. By evaluating your runway, understanding market feedback and knowing your personal limits, you can make balanced decisions about when to double down and when to pivot.

Related: How to Know When to Give Up, When to Pivot and When to Persist

The road to success

Success isn’t linear. Sometimes, the best decision is to pivot, start fresh or even walk away entirely. Knowing when to quit can be just as important as knowing when to persevere.

Failure, after all, isn’t the opposite of success — it’s often a step toward it.

For founders facing this decision, remember that seeking outside perspectives can help. Whether it’s a mentor, fellow entrepreneur or trusted advisor, they might provide the clarity you need to evaluate your runway and determine your next steps.