Sometimes you must persevere against the odds, struggle along until the time is right, and hold out for that big break. Perhaps the market will change, the buyer will change, or finally the amount of time you put in begins to result in traction.
Getting things started is difficult enough, but what about getting something new started, something the market hasn’t seen before, or doesn’t know it needs?
That happened to us. Our product was disruptive, broke all the rules, and identified a market no one was addressing. We had to spend several years doing missionary work just to convince buyers that they could make a profit on our product. What if we got tired of the uphill battle and quit? There would be no Barefoot Wine today!
Disruptive startups require founders who doggedly push on in the face of adversity and predisposition. But at what point does persistence become narrow-mindedness? At what point does priming the pump become beating a dead horse? How do you really know when it’s time to give up, pivot, or “rethink your drink?”
Here are 5 indicators to help you recognize the difference between determination and getting stuck in a rut.
Knowing when persistence has led you to being stuck in a rut is difficult especially when you keep hearing stories of other startups that finally got traction. What if they gave up right before that happened? After some amount of time though, there is a point of diminishing returns. The sales just aren’t there to support the enterprise. Do you stubbornly continue because you want to justify all the time, money, and energy you have put in so far? Or do you recognize that channel vision may be blinding you to alternatives?
We hope these indicators can help you make that difficult decision to push on or shove off.
Michael Houlihan and Bonnie Harvey co-authored the New York Times bestselling business book, The Barefoot Spirit: How Hardship, Hustle, and Heart Built America’s #1 Wine Brand. The book has been selected as recommended reading in the CEO Library for CEO Forum, the C-Suite Book Club, and numerous university classes on business and entrepreneurship. It chronicles their humble beginnings from the laundry room of a rented Sonoma County farmhouse to the board room of E&J Gallo, who ultimately acquired their brand and engaged them as brand consultants. Barefoot is now the world’s largest wine brand.
Beginning with virtually no money and no wine industry experience, they employed innovative ideas to overcome obstacles, create new markets and forge strategic alliances. They pioneered Worthy Cause Marketing and performance-based compensation. They built an internationally bestselling brand and received their industry’s “Hot Brand” award for several consecutive years.
They offer their Guiding Principles for Success (GPS) to help entrepreneurs become successful. Their book, The Entrepreneurial Culture: 23 Ways To Engage and Empower Your People, helps corporations maximize the value of their human resources.
Currently they travel the world leading workshops, trainings, & keynoting at business schools, corporations, conferences. They are regular media guests and contributors to international publications and professional journals. They are C-Suite Network Advisors & Contributing Editors. Visit their popular brand building site at www.consumerbrandbuilders.com.
To make inquiries for keynote speaking, trainings or consulting, please contact sales@thebarefootspirit.com.
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