CUT YOUR LOSSES

When I created my first start up, my partner and I got too invested in the product. Emotion took over. Instead of firing our developer and pivoting, we doubled down and put more money in.

I lost a lot of money.

But I learned a valuable lesson from this.
– money doesn’t solve all your business problems 
– you might not find the right person for the job on your first hire
– admitting you made a mistake will get you closer to your goal
– don’t be afraid to fire and fire fast

Over the last three weeks, I’ve been working on redesigning my logo.

I tried a few different places but couldn’t find what I wanted.
I knew I needed a full time graphic designer so I thought I’d try to find a new one with the logo redesign as the test project.

Three weeks later.

I’m still looking for the right person.

I just had to tell my designer today that it wasn’t going to work out.

Not because she was bad. But she just didn’t seem to care.
When someone doesn’t follow your specs, you have a problem.

When someone takes days to do something that takes an hour, they aren’t prioritizing your work.

When someone can’t do the job correctly without you holding their hand, it’s time to find someone else.

You have to be smart about who you work with.

Some people will take your money and deliver subpar work. Others will try to find excuses for why they suck.

Don’t be afraid to admit you messed up. Don’t have an ego about your product, a team hire, or anything else business related.

Cut your losses quick and fast. Don’t let mistakes continue. Whether it’s your fault or someone else’s.

You need to make sure you’re doing the right things for your business. Don’t get emotional. It’s only business.

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