An entrepreneur must know when to quit...

We all feel that entrepreneurship is all about starting a business. I think that it is also very important for an entrepreneur when to close down the business.

There are a lot of reasons why entrepreneurs continue operating a business even if they feel that the business is not operating as per their expectations or initial thought. This might be due to reasons like:
- the fear to fail: Failure is such a stigma, in our society especially, that most feel that failures are the end of their journeys and the end of their self-confidence.
- the entrepreneur's bias: We all feel that our business is the best and at times we tend to have unreasonable confidence in the same. In the daily running of the business, we fail to assess how we are performing and whether the business is performing as per expectations and is becoming into a sustainable business.

A good entrepreneur must avoid falling prey to the above and at all times, must analyse and assess the venture in an unbiased and logical manner. If the business is not looking steady and sustainable going forward due to reasons like a lack of differentiation, a lack of a robust business model, continuous under-performance on internal estimates, a lack of a pivoting option etc, the entrepreneur should definitely keep persisting but should know when the right is to close down the business as well.

So in the end, the moral is that the entrepreneur should be at all times in total control of his/her venture and should understand the nitty gritties of the same.