Answer on @Quora by Tim Westergren to How does an entrepreneur know when to fold? – Xochielt Sanchez
Answer by Tim Westergren:
This is one of the most often-asked, and most difficult questions to answer. You can easily setup some reasonable criteria, but the truth is that so many founders survived ordeals that any rational person would have quit before breaking through. We went way out on a limb with Pandora – a couple years without salary, massive credit card debt, lawsuits, etc.
To me the only reliable signals are internal. External signals are not reliable. And things like time limits are arbitrary and unhelpful.
You should seriously consider stopping if:
- You've lost faith in your idea
- You've become deeply unhappy.
If these are both true it's awfully hard to endure and succeed.