"Should I quit my business strategy? How do I know when it's time to quit? Am I wasting time on this?" In this vlog, let's explore how to know when it's time to quit a business strategy (or if there are alternatives you haven't considered yet!) — including 5 key questions you NEED to ask yourself to make the best decision for YOU.
Quick overview of what's in this video:
- 0:00 Intro
- 0:50 What to do FIRST if you’re struggling with something in your solopreneur business and you are thinking about quitting it (e.g. a service or product you’ve created, a marketing strategy, a system or process on the backend of your business, etc)
- 2:20 It is VALID to feel this way, AND it is also okay to quit, BUT you might be getting ahead of yourself!
- 2:35 How to know when to give up a strategy? Top 5 questions to ask yourself when you think things aren’t working and it’s time to quit (Ask these before you quit)...
- 2:55 Question #1 before you give up a strategy: What makes me think this isn’t working? And is that true?
- 4:20 Question #2 before you give up a strategy: Do I have enough data and information to prove that this isn’t working?
- 7:05 Question #3 before you give up a strategy: If this WAS working, would I want to do it?
- 8:05 Question #4 before you give up a strategy: What evidence is there that quitting is the best choice?
- 8:55 Question #5 before you give up a strategy: What are my other options?
- 10:25 How to know when to give up a strategy as a freelancer or other solopreneur… and why you need to make the best decision for YOU
- 13:25 Wrap up
You are pretty much ready to give up on some kind of strategy or idea that you have in your solopreneur business… In this video, let's talk about what to do BEFORE you quit!
These are the top five questions that you should ask yourself when things aren't quite working out the way that you want them to, and you believe that it might be time to quit or put an end to a particular strategy — because spoiler alert, it might not be time to quit just yet!
My name is Sagan Morrow, and I'm an anti-hustle productivity strategist and internationally board certified success and life coach who specializes in working with solopreneurs.
Let's get into today's video: What to do first if you are struggling with something in your solopreneur business and you're kind of thinking about quitting it or putting an end to it.
This could really be anything within your business: This could be a service that you launched, and maybe no one signed up for it yet. This could be a product that you've created that no one has bought yet. This could be a marketing strategy that you've experimented with, but it hasn't led to any sales yet. This could be a system or a process in on the back end of your business that you've been you know, maybe attempting to implement for the operation side of things, any type of strategy, system process, anything that you might have in your business that you've been playing with or trying out, and it's just not quite working.
And so you're kind of thinking, “Is it time to cut my losses and just put an end to this and do something different? Should I just give up on this particular strategy or system or technique or process?”
In this case, maybe you've been trying something for a while, whatever it may be, and it's just not working the way that you anticipated — so you're starting to feel dejected, frustrated and you're really ready to give up and you are ready to quit.
First of all, I want you to know that that is 100% valid. Okay? It is okay, it is valid to feel that way. And it is also okay to quit. There is nothing wrong with quitting. However, you might be getting a little bit ahead of yourself…
That's why I want to share with you the top five questions to ask yourself when you think that things aren't working and that it's time to quit. I want you to ask these questions of yourself before you give up on a particular strategy.
Question number one: What makes me think this is not working? And is that true?
For example, your thought process might go something like, “No one is buying this service, therefore the service isn't good.” Or, “No one wants this service because no one is buying this service. No one wants it and therefore I should no longer offer this service.”
So, is that entirely true that no one wants it, or that the service is not actually good? Maybe your service actually is really awesome! Maybe there are people who DO want it, but you are promoting it to the wrong people. Or your messaging needs some finessing and the way that you're talking about your service needs a little bit of work, or maybe you aren't being visible enough. You're not putting yourself out there enough. You're not talking about your service enough. You're not cutting through all the noise that's out there.
You can see here that the initial thought of “Because no one is buying my service, that must mean that it's either not good or that people don't want it,” that there's actually a false equivalency. There's a gap in that thought process. It's not actually true.
That's the first question that you want to check in with yourself: What makes me think that this thing is not working? And is that true? Is that accurate?
Question number two: Do I have enough data and information to prove that this isn't working? Where is the evidence?
If you've only been using a particular strategy for three days, that's probably not going to be a long enough amount of time to confirm whether it is working. That's not really enough evidence.
Some strategies that you might be testing out also might be much longer term. So even something like three months might not actually be enough time for something depending on what it might be. Here, you're really checking in with, “Have I actually gotten used to this strategy?” For example, if you are testing out a new time management tactic, you're trying out a new way to manage your time effectively in your business, you're testing things out, and you might not be accustomed to it yet. You might need a little bit more time, a little bit more opportunity to test it out to know whether it's actually working for you if you are deciding to incorporate a particular time management tactic, but you keep on forgetting to use it.
Or you haven't really used it enough to know whether it's really working, or you have to consciously force yourself into doing it because it's not the natural thing that you've been doing up until now. It might just need a little bit more time and space for you to test it out to see whether it's a good fit for you.
In another example, with a marketing strategy, checking in with that question of “Do I have enough data and information to prove that it's working? Do I know if I have sufficient evidence to prove that this is or isn't working?”
When it comes to something like marketing, an example could be — if 10 people see a promotional post that you created, and none of those people buy, well, that's probably not enough data to know whether it's an effective strategy. 10 people probably isn't quite a big enough sample size for you to go with. And depending on, you know, your industry and and the way that you're promoting and what you're promoting and how warm your audience is all of these different pieces, even 100 people might not be enough of a sample size. It's going to vary, it's going to depend on a lot of different factors, depending on what sample size is an appropriate amount or is there enough data that is sufficient evidence and proof. So it's really going to depend on the situation.
That was question number two: Do I have enough data and information? Do I have sufficient evidence to prove that this thing is not working?
Question number three: If this was working, would I want to do it?
We want to ask this question to determine whether it is a good strategy or process or tactic or technique for you, regardless of whether it appears to be working or not. Do you enjoy it? Is it something that you would be interested in doing? Or do you feel like you “should” do it? Are you only doing it because you think that is the only way or it's the best way to do something because some expert has told you that you must do this and some business guru is like “you absolutely need to do this, it is the only way, this is the best way.”
Is that the only reason that you're doing it? Regardless of whether it appears to be working… Do you want to do it? Does it interest you? Does it light you up? Does it feel enjoyable for you? Is it something that you want to work in your business?
So that was question number three — if this was working, would I want to do it?
Question number four: What evidence is there that quitting is the best choice?
Here you're really looking at all of the different factors. For example, if you have lots of data and information that it's not working, if you are not enjoying this strategy, then that could point to quitting being the best option for you. If you have lots of data information, you're like, “you know, I've tested this out, I have really exhausted all of the options or all of the aspects of this strategy, I have tested it for six months, I have been consistent with it and I'm not enjoying it,” all of those different types of things that could lead to quitting being the best best choice for you.
Question number five: What are my other options?
This builds on the previous question — Is there something you could do instead of quitting? That would feel good for you or that could change the game here? So for example, this could involve something like tweaking your strategy or approaching it through a different lens or changing one aspect of it. Making use of the data and the information that you have, right, those different sorts of things.
Even if you have been doing a particular strategy for an extended period of time and you have data and information that indicates that it's not working the way that you want well, is there one tiny piece of it, one cog in the machine that you could try changing to see how that affects things? Does that shift things; does that create a different outcome? Is there anything that you can approach looking at it through a new light, and if you do not enjoy the particular strategy that you're doing, what aspects of it don't you enjoy?
If it is working, if there are aspects of it that seem to be working, but you're just not enjoying it, then what can you change about that? What might make it more enjoyable for you? Maybe there's nothing or maybe there's something.
Exploring all of the options and doing really creative problem solving is one of the things that my clients love doing with me in our solopreneur coaching sessions. We always ensure that every aspect of their business feels really good and enjoyable and truly lights them up. Because business involves a lot of time and effort, we want to make sure that you genuinely enjoy all different aspects of it and the way that you are doing things — the specific end result and the way that you are approaching the end result, the strategies that you're using, and how that strategy is implemented over time.
If you are feeling stumped here with any of this, if you want some support and guidance with coming up with fresh, creative ideas to your problems that are fully customized to you, and practical to implement and solve your frustrations, then you can book your spot in solopreneur coaching.
So there you have it. Those are the top five questions to ask yourself when you think that things aren't working, so that you can truly assess all of your options before you quit AND make sure that quitting is the best choice for you if you do decide to do it, or making sure that you are again exhausting all of your options and truly making an an informed and educated decision a very conscious, intentional strategic decision, regardless of whether that answer is to quit or not.
And again, sometimes quitting is going to be the best choice for you. There is nothing wrong with quitting! And there's nothing wrong with wanting to quit. Sometimes things can be really frustrating. And I want you to know that, that does not mean that you are not worthy of your business or that a strategy is not worthy of your business. It is okay, it is valid to have these feelings. We all experience these feelings. And so we just want to take that step back and make sure that you are still able to work through those feelings, process them and make that good best choice for you; whatever that choice may be.
I see many solopreneurs making this mistake of quitting before a strategy has had the time and space to really take effect. I have been a solopreneur for over 12 years, so I have definitely made this mistake myself as well!
I really don't want you to make this mistake. I don't want you to quit before you check in with all of these different things. I don't want you to give up on a strategy that actually might be a great fit for you.
You are not alone in this struggle. You are not alone in wanting to quit or feeling like you might need to quit or wondering if that might be the best option for you. You're not alone in experiencing these struggles and these frustrations — and also there is something that you can do about it.
Book your spot in my Solopreneur CEO coaching program, so that we can work through this together!
If you enjoyed this video, please subscribe to my solopreneur YouTube channel, give this video a thumbs up, and also drop a comment on YouTube sharing your favourite takeaway from today's video.
Don't forget to attend my free on-demand training, Anti-hustle Secrets to Solopreneur Success. It teaches you a whole lot more about how to fix your solopreneur problems so that you can skyrocket your success, PLUS you'll get a little sneak peek of Productivity Powerhouse while you're at it. Enjoy!