This is a subscriber-only article. Join Entrepreneur+ today for access

Learn More

Already have an account?

Sign in
Entrepreneur Plus - Short White
For Subscribers

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?

By Sean M. Lyden

Opinions expressed by Entrepreneur contributors are their own.

Perseverance, tenacity, a never-say-die attitude-these areall traits that drive entrepreneurs, against all odds, to buildmultimillion-dollar companies. But successful entrepreneurs alsoknow when it'stime to get out of a venture-whether to cuttheir losses or make way for better management.

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

"There is a definitive point at which you and your companymay be better off parting ways," advises Gene McCubbin, 30,president and CEO of RealUse.com, a small-business Web hosting,applications and wireless broadband company based in Houston,Texas. "In some cases, that may mean dissolution of thecompany; in others, that simply means the company continues withoutyou."

The rest of this article is locked.

Join Entrepreneur+ today for access.

Subscribe Now

Already have an account? Sign In