When you should quit your business or project?
Well – the answer is pretty juicy, so hang around.
Lucky Bitch Video Transcript – When Should You Quit a Failing Business?
I’m a part of a lot of business forums and I see women all the time say they’re going to quit their business because no one has bought it and it makes me really sad.
I’ve worked myself full time now for about six years and trust me it’s 100% worth it but it does take a lot of persistence.
Here are some questions for you to ask yourself before you quit.
Have you actually just lost passion for the topic?
If so, that’s truly a fair enough reason to quit.
A lot of us have had practice businesses.
My first ebook was on internet dating.
My first blog was a movie review blog and I love going to the movies but I really didn’t like sitting there with a notepad and pen. It really killed my passion for going to the movies.
My next blog was about green detoxing, not an area of expertise for me.
My next blog was about weddings and after six months I was totally bored of the topic.
So ask yourself, is your business a practice business?
Is it a topic that has longevity for you? Or are you sick of talking about it already?
It’s totally okay to quit. Give up the practice business and move on to your real passion because it can take time to find that passion.
If you know you’re in the right business, here are a few more things to ask yourself.
Have you had at least 20 rejections?
If you’re selling coaching or some sort of one to one service, have you had at least 20 1:1 conversations with prospective clients?
This could be what is called a discovery session if you’re coaching or it could be an initial meeting to talk about your graphic design packages.
Whatever it is, have you had at least 20?
A lot of us quit after the first one or two rejections and unfortunately business does not work like that.
[Spoiler alert] You will get rejections
People will say no to you ALL THE TIME and you have to get through those no’s so you can start hearing yes.
I remember being in a sales conversation once, and they said that sales was like the “row, row, row your boat” song. It goes, “no, no, no, no, no, no, no, no, no, no, no, YES”
Chances are you will not have to get through 20, 50, or 100 sales conversations to get your first yes but most people quit after hearing no the first couple of times.
Make sure you’ve really done those numbers.
Think of it like an apprenticeship rather than rejection.
Do you know your stats?
If you’re selling a product or service from a sales page, you will have to get through a lot more people seeing your sales page before they say yes.
In my experience of selling over a million dollars worth of courses, it’s about 1-2% of the people that say yes (and that is a great conversion rate).
It can be really easy to get discouraged at the start where you think, “no one has bought my stuff”.
And I always say, “Well, how many people saw your sales page?” If you don’t know, well you have to know your stats otherwise you’re making up B.S stories that have no basis on reality.
You have to get Google Analytics on your sales page so you can have real information, not just thinking, “No one likes me!”
Want more on analytics? Before You Declare Your Launch A Failure Check This One Thing
Lastly, if you’ve tweaked absolutely everything, and trust me you probably haven’t…
Know that it does take persistence and courage to be successful in business.
Now you might see “overnight successes” but trust me, they probably weren’t an overnight success.
They have probably been hustling for quite a while or they’ve been amassing skills in other professions so they experience “fast success”.
But it’s rare.
For example – my Lucky Bitch Money Bootcamp is a million dollar course. But it started with just a few students – like anyone’s does.
Trust me it takes hustle, consistency and above all, a big dream for your life.
I’m a huge believer in consistency in business. Huge. Get my take on it right here.
Yes, it can be scary sometimes but what’s the alternative? You go back to a job or if you’re in a job what’s the alternative, you stay there forever?
That is not an option.
So pick yourself up, pull up your big girl undies and get out there hustling. Get that information you need so you know if it’s the time to quit or if it’s time to double down and make your business happen.
Have an amazing lucky day and don’t quit, never ever, ever quit working for your dreams.
Want some help with your mindset?
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It’s my fail safe formula to manifest amazing things like a successful business or new clients. Give it a try.
Did you miss last week’s video? Check it out here: Woo Woo & Spiritual Money Practices To Try