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When To Throw In The Towel Or When To Persevere

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When To Throw In The Towel Or When To Persevere

It goes without saying that persistence is the most distinguishable and important characteristic of a successful person and most definitely a successful entrepreneur. Lack of creativity can be overcome with persistence and hard work. (Interestingly, while a person may not be terribly imaginative, persistence always helps the imagination to figure it out.) Lack of money can be overcome using the same formula.

Why? You need the persistence to get you through the rough patches and over the mountains that will inevitably be in your path to succeed. Sitting by the roadside gets you nowhere.

It all comes down to persistence and hard work.

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Persistence is Vital

In The Strangest Secret,[1] Earl Nightingale, one of the fathers of personal development, shared a statement from President Calvin Coolidge, “Nothing in the world can take the place of Persistence. Talent will not; nothing is more common than unsuccessful men with talent.  Genius will not; unrewarded genius is almost a proverb.  Education will not; the world is full of educated derelicts. Persistence and determination alone are omnipotent. The slogan ‘Press On’ has solved and will always solve the problems of the human race.”[2] (This excerpt from Nightingale’s recording became so associated with him, many believed it was his.)

The fire of your vision for the future of yourself, your family and enterprise is the fuel that pushes you forward when things, makes you work the extra hours, and gives you the creativity to solve problems you never thought you could solve on your own.  It gives the meaning to your goals,[3] and expands your vision, letting you see the broad view as well as the long view of things. It opens worlds to you didn’t know existed.

It’s that persistence which anchors you. As John McCormack, founder of Visible Changes, and 1989 Entrepreneur of the Year, says in his book Self-Made in America, “The essential ingredients of entrepreneurship are a vision, a sense of mission, and a will to keep going forward when everyone else is telling you to go back. . . . It wasn’t brains, brawn, or even our business plan that resulted in our ultimate success.  It was persistence, plain and simple.”[4]

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It’s the thrill ride—the ups and downs of a roller-coaster—and you’re the ride operator.  And when you reach the summit, you look back on everything you’ve done and see what’s happened and you wouldn’t change it for love or money.

Should You Throw in the Towel?

But even with all that, sometimes you have to throw in the towel.

The question is when is that time?

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Before you chuck it all, there are some things to consider.  First, is your attitude.  Sure things have gone bad for the moment, but you need to realize it’s not a failure.  As long as you can pull valuable lessons from the experience, you haven’t failed.  I knew a man who priori to the recession of 2008 was pulling in six figures. The recession hit and his income plummeted. He had to get a job, which allowed him to use all of his skills. Was he a failure? Of course not, circumstances beyond his control forced him into an unpleasant situation. But he still has his business, and the other job has given him other benefits that helped him with other situations.

So if you’ve got to shut down the business—throw in your towel—learning is essential.

A legendary anecdote about Thomas Edison’s search for the perfect filament for the incandescent light bulb is that a reporter asked him how it felt to have failed over 6,000 times in his search. Edison replied, “I haven’t failed 10,000 times. I’ve just found 10,000 things that didn’t work.”  History shows only the triumph, not the time it took to reach the triumph.

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So how do you know when?[5]

Some are easy. When there is no longer a demand for what you have to offer, and you can’t figure out a way to retool the product or business. Time to shut it down.  (But then again, look at the resurgence of vinyl, which was declared dead in 1990s. Sometimes maybe put it in suspended animation, instead.) No repeat customers is deadly. If you can’t get fresh faces to your business it’ll be a slow, agonizing death, but it will be a death.

The costs are too high.[6] Losing your family, your health, the person you once were, you look at everything with jaded skepticism. At this point it’s time to reevaluate and if you can’t fix them, get out fast. Good family relationships, health and an optimistic attitude are all essential ingredients to success.  If you’ve lost your vision of your project and can’t recover it, again, it’s time to go.

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But if you must throw in the towel, remember to take lessons away, because that’s what entrepreneurs do.

Featured photo credit: Unsplash.com via unsplash.com

Reference

[1] Earl Nightingale: The Strangest Secret
[2] AZQuotes: Calvin Coolidge Quotes
[3] George Ambler:Persistence: The Key to the Achievement of Meaningful Goals
[4] Google: Self-Made in America, Page 77
[5] Fox Business: Knowing When to Throw in the Towel
[6] Entrepreneur: 3 Signs That You Should Shut Down Your Business

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Last Updated on January 27, 2022

5 Unexpected Places to Boost Your Productivity

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5 Unexpected Places to Boost Your Productivity

The environment of a typical office or a quiet library may sometimes lessen your productivity as the unchanging views fail to stimulate your senses and keep your brain running. If you are the kind that dislikes absolute silence or minimal noise when working, these unexpected places to work may boost your productivity level!

1. Coffee shops

Research has shown that an adequate amount of ambient noise stimulates your senses and keeps you alert. Where else better to find some chatter and clatter to boost your creative juices? Working in the coffee shop also guarantees something else: unlimited supplies of caffeine!

Caffeine wakes you up by fooling adenosine receptors and speeds transmitting activities up in your nerve cells.If you do decide to try this place out, make sure that your work computer is facing the coffee shop customers so you will be less likely to procrastinate or go to inappropriate sites because people are secretly watching you.

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If your workplace requires you to be in the office, try this website and/or phone app that provides you with sounds from coffee shops around the world. Want to work at a cafe in Paris? No problem, it’s just a button away.

2. Cafeterias

Similar to coffee shops, company cafeteria or food courts provide consistent noise and the smell of food. The aroma of food makes you look forward to your next break and should motivate you to complete your work.

The act of eating likewise keeps your brain alert and produces dopamine. But make sure only to snack and stay around 60% full so that each bite is rewarding and invigorating. Snacking every 90 minutes should keep your brain balanced enough to focus on the work at hand.

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3. Empty University Classrooms  

Whether or not you’re an university student, we have all been a student at some point in our lives. And when you’re in a classroom, your brain is primed to stay focused because you have been conditioned to concentrate in class. In comparison to your bedroom, where your brain is primed to relax, sleep and have fun, the environment of the classroom triggers your memory to stay alert (unless you never listened in class) and work.

If you do decide to try working in an empty university classroom, be sure to bring a studious friend. Once you see that your friend or coworker is working hard, you would feel guilty for procrastinate and be more competitive.

Ever heard of environmental context-dependent memory? Research has shown that environmental context influences the way we encode information. If you study in the same place you first learned the material, your chances of recalling the information are significantly increased. Use environmental cues to your advantage so you spend less time doing more work!

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4. Outdoors

Fresh air, sunlight, cool breeze. Talk about getting your vitamin Ds the natural way. A healthy body is crucial to being productive. If you have a porch, use it to maximize your productivity!

On a cool day, the crisp air is good for waking your brain up. If your work station is indoors and poorly ventilated, the build up of carbon dioxide will cause your brain to be less active, hence, less productive. Try to bring some work to a park nearby or an unsheltered town square where you are exposed to the sun. Fresh air will vitalize your brain and the warm sunlight will bring a smile to your face.

5. The Shower 

Many people experience their “Aha!” moments when they’re in the shower. Why is that? The hot water helps with circulation and improves blood flow to your brain, giving it more oxygen and nourishment to break down your work block.

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If you aren’t motivated to work or feeling bored, a good shower will not only open up your pores, but also give your brain a boost of energy. Keep a waterproof white board and markers in the washroom so you will never lose those wonderful ideas again!

Featured photo credit: Thomas Franke via unsplash.com

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