When to Move On

I was recently talking to an entrepreneur who’s been working on his company full-time for three years and is at the point where he’s no longer passionate about the business. Rather, he’s identified another business opportunity that is tangentially related but would require starting from scratch. How do you know when it is time to move on from your startup?

My advice to him was to figure out how to follow his dreams while taking care of his small number of employees (less than five). He believes the timing is right for the new business but needs to the day-to-day pay check to make ends meet. It is a tough situation, but when it is time to let go and change paths, you know in your gut what needs to be done.