Story 1.4: When to Quit and When to Double-Down on Your Startup. Podcast 040 with Clarity Wave
This is episode 40. It’s been several months since we checked in with Robert and in that time he’s hit a number of snags with his software as a service company, Clarity Wave.
In our other episodes focusing on Robert’s story, we’ve learned a lot about the technical side of startups, but today we’re going to dig into the psychological side of entrepreneurship – how to make good decisions when none of the solutions seem right, knowing when to quit and when to hold on tight during the low points, and how you recover from mistakes while staying in the deep end.
We go really deep in today’s interview, and you’re going to come away with some incredible insights on a skill every entrepreneur needs to master – how to persevere in any situation.
You’ll hear Robert’s insights on:
- How to deal with the very common startup problem – spending more than you’re making
- The dangers of not trusting your gut
- Making aggressive sales moves in the face of a cash crunch
- How the clients who need your product LESS are often worth the hard sell
- Deciding between going into debt and giving up equity
- The highest leverage tasks to lock-in solid Monthly Recurring Revenue
Make sure you stick around until the end, when Robert sets a deadline for business progress next month and makes a bold announcement about his future as an entrepreneur.