Published on March 13th, 2018 | by Jose Vasquez0
Is Persistence a Good Thing in Startup Tech Companies?
Persistence isn’t always the best thing for startup tech companies.
As an entrepreneur, you’ve likely been given the advice to “be persistent.” If you run into difficult times, just keep going, and never give up on your dreams.
On the surface, this seems like sound advice; after all, we have countless examples of entrepreneurs who kept persisting even after their first brushes with failure. But is it really the good advice we make it out to be?
Why Persistence Is Beneficial
Of course, persistence can be beneficial. Startups have a high rate of failure, especially at the hands of first-time entrepreneurs. If every entrepreneur who started their first business and failed ended up giving up, we’d never have any successful second-time businesses.
In addition, even the most successful businesses likely had a hard time in the early stages of their development. There were undoubtedly challenges their CEOs thought they might never overcome; if they would have closed the doors, and not fought hard for another solution, they might never have had that chance to become a success.
Persistence is also a key factor for experience. Only by following through on your goals and ideas will you get the perspective and skills necessary to improve.
Where Persistence Can Fail
However, persistence can also be a negative (if you aren’t careful). Let’s assume you have a business idea that’s unsupported by market research, and your mentors and investors tell you it doesn’t have a good chance of success. If you truly believe in the idea, despite these warning signs, and continue investing in it, it could be your downfall.
Persistence is also a bad thing when it manifests as the stubborn repetition of the same routine; if it didn’t work the first time, it’s probably not going to work the second, or the third time. Sometimes it’s better to cut your losses and move onto something else.
Finding the Balance
Like with most things in the entrepreneurial world, persistence is all about finding the right balance. You have to keep moving after your goals and aspirations, but not to such a committed degree that you blind yourself to reality.
If you’re interested in more entrepreneurial coaching, or need help getting your business off the ground, contact me today!