Thursday, 4 April 2024

Quitting is not an option

One large win can cover up for a hundred failures.

Entrepreneurship is hard. There are so many unknowns that can go wrong and they do go wrong. Your Product may not be needed by the market. Investors may not want to fund your company. That 10x engineer who accepted your offer letter might back out 2 days before joining. Your cofounder might exit.

There are just too many things that can go wrong.

When all of this turmoil is going on in your life, your friends working at FAANG companies would be enjoying their vacation in Europe and you'd feel like - "What am I doing with my life?"

There is a natural desire to quit.

I went through this multiple times at my previous venture, especially during my early days. My cofounder abruptly left. I almost went bankrupt. Customers got to know about this, so they held back their contracts with us. Things became worse. I had gotten into a downward spiral.

I too could have quit. But then I would not be telling this story here.

After a lot of deliberation with myself, I decided that I would not quit - quitting was never an option. I convinced Harshita to leave her job and join me as a co-founder. We distributed our roles and responsibilities. I took charge of the customers and spent all my time with them, talking about our Product and convincing them to use it. Harshita spent all her time building the Product and the Technology behind it.

That one decision to convince Harshita to join me as a co-founder changed everything. From an almost bankrupt business, we went to over $1M in revenue in just 2.5 years and after 6 more months, we got acquired in a multi-million dollar transaction. All of this when we were merely 26 years old.

In life and business, you will face such moments where you will feel desperate and would want to quit. Remember, you are 1 decision away from a completely different life/business. That 1 win can completely change the trajectory. The Power Law applies here. 99 of your decisions combined will not make that big of an impact on the output. But that 1 right decision will have 100 times more impact.

To find that decision, all you need to do is to ensure that you keep going and not quit.

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