Is quitting your business on your mind?

by Ashvini on April 25, 2012 · 17 comments

in Motivation,My Personal Thoughts

I know a friend, whose blog was hit by Google Panda update. He probably lost quite a bit of traffic and then he wanted to quit because he probably felt bad about poor reward/risk ratio. Another friend of mine worries about the investment he has made in an application development and the fact that he has not made any money off it.

The blogging world recently has been turned upside down by the massive hits from Google panda. It the technological 10X factor that Andy Grove talked about in his book “Only the Paranoid survives” and that I covered here. The algorithmic changes are shaking the blogging world like a giant shakes a house of dwarves. Many bloggers, who were not using wrong tactics, too suffered form the shakedown.

Technology hurts ?

Often change of technology or any other business circumstances cause disruption to the business even to the extreme extent of forcing it to close down. It has happened to most entrepreneurs. The most “lightning” idea probably did not take off. Customers rejected the product who you thought had excellent potential. Your app that you developed did not fetch you the billion dollars you were expecting

Its all part of the game and we have to play it day and night

Most of the businesses of today started from a backyard or garage of business owners many years ago. The founders did not imagine to be that successful that they are in those days. However, they probably never cared if they were going to make tonnes of money. All they did was build relationships and worked towards getting right opportunity. The best businesses of today put their customers first and listened to them. They persisted even when their businesses had no defined revenue model or even a path to follow.

What does this mean to entrepreneurs like you and me ?

Quit?

The next obvious step when the business is not working is to quit.Quit because

  • there will not be much to worry about afterwards.
  • you have fallen in line as others
  • you will get more sympathy than snide
  • you can save now whatever you could lose

Or Stay?

Hard but more rewarding to take following steps.

  • Fight back
  • Adapt
  • Learn
  • Network
  • Create something new
  • Build relationship
  • Cut expenditures
  • Innovate
  • Partner
  • Consolidate

Which path would you or I take? What did successful businesses of today do 20 or 30 years back?

About The Author

{ 17 comments }

Mika Castro May 3, 2012 at 12:25 pm

Yeah i think we all agree that it’s more productive to be positive however sometimes the problem is so big that the best solution is to move on. The longer you persist in attempting to stay positive when the company you work for continue to find a way to patch it up, the more stressed and frustrated you will become.

Ashvini Kumar Saxena May 7, 2012 at 11:41 am

Hi Mika,

That is right. Sometimes it makes a lot of sense to move on . Before that however, if we there is any chance of salvaging the business, we should do that .

Thanks for your comment :)

Mika Castro May 9, 2012 at 12:06 pm

Hello Ashvini, Thanks for the reply. That’s true, focusing and adding a little bit concern on what we do is a must.

Adrienne April 30, 2012 at 9:46 pm

Hey Ashvini,

Well, my Alexa ranking went up a few thousand points, not much really and I think you know that I do not over use keywords in my posts. As a matter of fact, I hardly do SEO rich content to begin with. So although we all may get stung from time to time by the updates that Google implements, I don’t think it’s worth quitting.

If we truly want a successful business then we all have to realize that nothing is going to happen on our time tables I’m afraid. I know, if only right! As long as you do the right thing with integrity, you have nothing to fear. I like to believe that’s the case at least.

For me, I’m not giving up or in ever. Technology will continue to change like it’s been doing for years. You either learn to go with the punches or bail. But do it for the right reasons.

Thanks for sharing this and for that boost on this Monday morning.

~Adrienne

Ashvini Kumar Saxena May 2, 2012 at 2:45 pm

Hey Adrienne,

You are so right!!! It took me some time to realize that
If we truly want a successful business then we all have to realize that nothing is going to happen on our time tables I’m afraid. I think we need to realistic and be very very patient because as small entrepreneurs we often lack the right resources. There is huge competition around us and often it means that our message may get lost in the din.
But in my opinion “Great businesses cannot be ignored”, no matter what.
Your blog is remarkable because I know that you don’t worry about SEO much. You just write great content and connect with people very well. It is all that is to a great business and no one can ignore these basic rules. I hope we get more inspiration from you to continue our journey.

Daria Steigman April 30, 2012 at 12:42 am

Whoa — as someone who has been in business for 20+ years (I started VERY young), I want to clarify a couple things:

1. Technology has always evolved. The only difference now is WHAT technologies. My first job I had a typewriter. Then I had a “dedicated word processor.” I’ve transitioned from telexes to faxes, and from an IBM PC running software on 5.5 inch floppy disks to alternating among a smartphone, a tablet, a netbook, and a desktop with a big flat-screen monitor. Not to mention being one of the first businesses on my block to use e-mail. My point: businesses have always had to adapt or become obsolete.

2. Sonia–business today really isn’t so different than 20 years ago. Sure, some BIG companies were able to get away with treating their customers like commodities–but small businesses have always taken the time to engage with their customers. The difference today is the tools, not the doing itself. The tools have helped to level the playing field and made it easier for small companies to compete with the “big boys”–but we’ve always been doing it.
And it’s always been a competitive advantage to value the people you do business with.

Ashvini–do your broader point: I absolutely agree. When a business isn’t working you have to evaluate why and figure out whether it’s a problem with the model itself or just something about how you’re doing business that can be fixed.

Ashvini Kumar Saxena May 2, 2012 at 2:37 pm

Hey Daria,

Totally agree. It is a time as usual to be adopting, changing our ways of working. Community has become a very big word now. If you do not have a community, you are bound to be doomed. Building a community is a long a hard way in times like these where services cannot be used to discriminate one from another. Of course the cheap would still be attractive but then people who trust their community leaders will be willing to pay more for almost the same services.

JanB April 27, 2012 at 11:43 am

Hi. I found your site through Sonia’s site, LogAllot. I like your insight on things. Business is not like it used to be years ago. The Internet – especially Social Media – plays a bigger and bigger role. The reason is simple. As a business owner you can reach potentially billions of clients.
The content ‘of the web’ is – sadly enough – controlled by one party: Google. Any changes in their way of classifying websites could potentially ruin a business. Panda – penguin well intended changes in the Google algorithm are sometimes hard to understand. Keeping up with them is a full-time job!
Time is valuable. I believe in ‘never give up’. And I’m not doing that!

Ashvini Kumar Saxena May 2, 2012 at 2:06 pm

Hi Jan,

Sorry for the late reply. I was unwell.
Thanks for visiting my site and expressing your opinion. Yeah Google has been now assuming all important role. From a company that just indexed the web to now a controlling empire, Google is becoming un-understandable in quite a bit of cases.
My blog too has suffered a loss in SERPs and it hard to understand. But we got to adopt and move on.
I am very happy that you are fighting and not giving it up. My best wishes to you :)

Rohit Batra April 26, 2012 at 1:01 am

Sometimes staying with the same business is not a feasible option, as you already know it Ashvini and after reading the 1st para of this Post its quite indicated that you mentioned about me there. So finally I decided to leave that one & come back with something new and fresh which is much more interesting than last one was.

But one experience of mine I would like to share when you enter in any type of Partnership make terms very clear, because some times you are liberal but the other person is a shrewd one then you will face a lot of troubles. So partner with those whom you know personally & trust them.

Ashvini Kumar Saxena April 26, 2012 at 3:55 pm

Hi Rohit,

Thanks for your comment. I got this idea while talking to you. I feel that many entrepreneurs may be passing through this phase. I have too passed this phase many times.I have always tried to explore the options that I can use before I quit.
I know your position and the trouble of your partner ship. All I can say is that you are a great blogger and an excellent connector. I feel you have the potential to start a new blog and take it to new heights. Hope this post was of any help to you.

Have a great day.

Sonia April 25, 2012 at 9:45 pm

Business today is more different than it was 20 years ago. Companies didn’t take the time out to properly engage with their customers like they do today. Long time ago it was just put something out and make it sale; where now companies have no choice but to communicate with their customers.

Technology today has made it easier for them to grow their business or make them more accountable. That’s not a bad thing considering the effect it has on smaller businesses. Those small companies can come out on Social media outlets and grow their business from just using those methods alone. Word of Mouth. The trend I see these days are marketing their business and partnering with bloggers with enormous amount of traffic to get the word out. For some companies it spells success and for some it might bring minimal business.

Either way, they are cutting their costs with marketing and really using technology for what its worth today. To quit or not to quit? I am sorry, but I am sticking around for another 20 years ( I hope) and see what pans out. We can’t let a few updates online detour us if our traffic wanes or disappears. You just have to find the best method for your business and stick to it, but be prepared to ride the ways when changes do slap you in the face.

Ashvini Kumar Saxena April 26, 2012 at 4:00 pm

Sonia,

Awesome reply and what an inspiration. Sticking around for 20 years!!! Now that is a big commitment. I am sure with your hard work, persistence you are going to reach great heights. I totally agree with you on traffic. It is impossible to ignore great business( now that is my next topic ;). I never had great traffic like other bloggers have. But it has not stopped me from connecting people and spreading my ideas.
If we keep developing exclusiveness, build a great customer base and live our promises, there is no way we are not going to be successful. It may take some time but we are going to win one day :).

Lori Gosselin April 25, 2012 at 4:10 pm

Hi Ashvini,
What path would I take? I’d fight back, adapt, learn. Business, like life, changes. It’s a fact. You can’t rest on your laurels, can you?Maybe that’s the hardest lesson of being in business.
You have to be about the busy-ness of keeping it going all the time!
Lori

Ashvini Kumar Saxena April 26, 2012 at 4:02 pm

Gems from a businesswoman herself ! Lori, I agree with you 100% on this. We need to adapt and do everything we can to survive. I am sure a lot of young entrepreneurs can take inspiration and lessons from your comment :)

Nishant April 25, 2012 at 1:39 pm

A really nice post. Especially “Or Stay?” was quite motivating and encouraging for any entrepreneur. Keep up the good work.

Ashvini Kumar Saxena April 26, 2012 at 4:03 pm

Thank you Nishant. You are a businessman yourself and understand the value of staying very well. Glad to see you here once again :)

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