Successful Business Lesson by John Detitta

[flimsy]

Hey Everyone,

Successful Business Lesson : Have a Quit Plan

Never give up! However, there is a point where you have to agree that you will quit when things are not working as planned. It's better to set the quit plan upfront when the business begins then try to adjust when you are into it.

This is imperative if you have a wife, husband or family. THEY ARE MORE IMPORTANT THAN YOUR BUSINESS!!!!

It's true you might be making incredible improvements to a product or service, and that your business will change the world. However, there is nothing more important than your family or friends.

You must set a quit plan from day one with all of them. A quit plan simply means when you have reached a specific point of investment or time when things are not working as planned, that all agree to walk away, liquidate, close doors or sell the business, period.

What do you say guys.. Do you think like this as john detitta has written?

[garthu]

I agree with the statement... however it is a little open ended. If you have a quit plan, you must have had at least a very aggressive business plan covering everything, financial plan, margins for error etc. If you followed them all to the T, then maybe the quit plan... but show me anyone who really follows there bus plan to the T?? Then the quit plan just becomes the easy way out

[Dave A]

I admit I've got a psychological problem with the idea of a quit plan. I know from personal experience that great success can lie just on the other side of seeming imminent failure if you've got that "Failure is not an option" attitude. But maybe that's the same disease as the gambler who can't leave the table until he's been cleaned out.

That said, one of the things I have picked up along the way which is kinda similar is you need to have an exit strategy; because your exit strategy will affect how you build your business.

Maybe they're pretty much the same thing except one is associated with failure and the other is associated with success

[insulin]

Success in moderation.

What is success in the eyes of a true business?