When to let go of your start-up: Here are some potential red flags

One quit their start-up only when others options are exhausted, reports Tech In Asia

In the last six years, I have mentored many entrepreneurs, some of whom I have kept up with on a regular basis. But recently, more entrepreneurs have been asking me whether they should continue with their respective start-ups or not.

Signals that you might be wavering

So what are the signs that you might be wavering? Here are some of the stories that have been shared by entrepreneurs.

A business is going faster than you can keep up.

One entrepreneur was passionate about his SaaS product and expanded his business to two other countries. As the business grew, he found himself trying to learn new aspects of managing a group-level business.

Is the business going anywhere?

Prior to Tri5 Ventures, my team helped 38 Singapore-based start-ups obtain government grants to build their ideas into MVPs, but we knew the reality that not every idea would succeed. Yes, there were those we were proud of that raised follow-on rounds and are now growing, but there were also businesses that weren’t going in a specific direction.

Is working in the company an obligation rather than a vision or a passion?
 
F&B entrepreneur Jay (not her real name) and her co-founder came together to set up a patisserie, but both had different opinions on what products should be made. Eventually, Jay gave in to her partner who created the products while she ran the operational aspects of the business.

Removing emotions and making the right decision

Quitting a startup is a decision which should only be considered when other options have been exhausted. Usually, if it is a business viability problem, I encourage the founders to pivot. If it is a founder related issue, it is best to find common ground to resolve matters. This is an excerpt from Tech in Asia. You can read the full article here