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When to Say When

It's your business. Your dream. Your <i>baby</i>. And it's failing miserably. Is it time to call it quits?

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This story appears in the April 2001 issue of Entrepreneurs Start-Ups magazine.

Perseverance, tenacity, a never-say-die attitude-these are all traits that drive entrepreneurs, against all odds, to build multimillion-dollar companies. But successful entrepreneurs also know when it'stime to get out of a venture-whether to cut their losses or make way for better management.

You see, there's a fine line between perseverance and prideful obstinacy. When you fall on the wrong side of that line, you risk paying a huge price in terms of your personal and professional relationships, bank account, credit rating and emotional stability.

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