Know when to Quit

There tends to be alot of people who think that if they try hard enough they’ll succeed. Well, that isn’t always the case.

Recently someone in NMF closed down their site, and there has been alot of talk about it. In the end, I beleive the person made the right decision.

So when should you quit? Well it depends on many things…

It depends on how much income you are making. If you are making a ton of money, whether or not from a particular site, then you generally can put more effort into a site that isn’t doing well. In simple terms: You can afford to lose money on the site.

You also need to know your target audience. If there are tons of sites that all are for the same audience, and you are just another one of those sites, you might want to consider quitting. You need to look at how many people use or visit your site, and what the growth rate is.

To make it even more confusing, you need to look at how much it costs to run this site, and how much you are making off it, and how much time it takes for you to operate it. Try to figure out how much you’d be getting “per hour”.

So with the above information, you should be able to detirmine if the outlook is good or bad. If you are making a small amount of income, but have other sources of income, and the growth rate is good, then you should keep on pushing.

However if the growth rate is small, or you don’t have other sources of income (or very little), and the time vs income is small or negative, you might want to drop the project.

Note: Before dropping your site, I highly recommend consultation from a couple people. Try to get a few friends to give you an honest opinion, and even consider hiring someone to look at your site as a whole and give you advice. Your site could be doing poorly, but a few changes could be all that is preventing it from growing like crazy. The key is to do some research yourself, and then talk to some experts.