Welcome to this episode of the DO GOOD X podcast. Are you a founder questioning whether to stick with your business because financial goals or other expectations aren’t being met? If so, this episode will be a helpful resource. We’ll explore what to do when you’re considering giving up, how to assess your business's challenges and strategies for staying resilient. From overcoming financial hurdles to finding support and inspiration in the DO GOOD X community, this conversation offers practical advice and encouragement to help you reimagine your path to success.
IN THIS EPISODE:
(00:00) Introduction
(01:33) What should a founder do when you are considering throwing in the towel
(04:22) Taking an assessment of the challenge your business is facing
(07:08) Getting over the financial hump and seeing yourself as successful
(11:10) Get the support you need to move forward
(12:33) Be encouraged by listening to others' stories and seek support from the DO GOOD X community
TAKEAWAYS:
- Giving up shouldn’t be the first option; instead, focus on pivoting when needed. Assess if the market aligns with your vision or if timing and luck are factors. Success often requires adaptability, courage, and reimagining your path forward
- Assessing your business challenges requires uncovering the root cause. Examine pricing, overhead costs, market demand, marketing effectiveness, and industry trends. Identifying the core issue helps determine if it’s solvable and guides your next steps, from strategic adjustments to exploring new paths.
- Working a job while building your business shows dedication, not failure. Balance requires clear priorities and time management, as many companies take time to grow sustainably. Create a contingency plan to navigate challenges, stay resilient, and use resources to boost your chances of success.
LINKS:
Kimberly R. Daniel catalyzes entrepreneurs and organizations to do good. She is co-founder and project director of DO GOOD X, a community that provides programs and support for faith-driven social entrepreneurs whose businesses focus on positive change.
Kimberly helps purpose-driven organizations clarify and design compelling brand and communication strategies. With over 15 years of experience developing and leading communications efforts, she is committed to producing effective processes and creating authentic, “sticky” brands that are community-centered. She co-authored A Way Out of No Way: An Approach to Christian Innovation (2021).
Stephen Lewis is the president of the Forum for Theological Exploration (FTE) and the creator and co-founder of DO GOOD X. This community...
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