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The best way to do this is to precommit to a decision based on any number of metrics. For example, you might decide that if in 6 months time you have less than
by jpulgarin 15y ago
The best way to do this is to precommit to a decision based on any number of metrics. For example, you might decide that if in 6 months time you have less than 10k users, or less than 50k in revenue you will give up on the company. This has the the downside of not allowing you to incorporate lessons that you learn during the creation of your company into your decision making process, but this pales in comparison to the disadvantage of making the decision at a point where you'll be increasingly likely to fall prey to sunk cost biases.