Entrepreneurs need to balance risk of persisting with payoff of succeeding
In a new business, sometimes the better part of wisdom is knowing when to quit, a new study concludes. Even though persistence is a key to business success, entrepreneurs might be more successful if they not only knew when to start a business and take risks, but also knew when to abandon it and find something that provides a greater opportunity, researchers said. It may be human nature to want to make an idea work, but it can also be a poor business decision to stay wedded to an idea if the evidence suggests it's not working as well as another potential opportunity. "Entrepreneurs ...
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