Ndubuisi 'Andy' EgwimMoney Coach for Medics|Ex-NHS GP|21+ Yrs Investor| Founder, MoneyWiseDoctor.com|Helping Medics Avoid Big Money Mistakes

The Hardest Aspect of Running A Business

18 Jul 2024 · 1 min

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A short conversational excerpt from a YouTube video where Speaker B recounts joining a startup that over-invested in the MVP, launching the product, running it for about two years, then deciding to close it because it was not meeting financial expectations. Ndubuisi 'Andy' Egwim comments on the courage required to end 'zombie' businesses, comparing it to career transitions and using the metaphor of leaving a sinking ship — emphasizing that closing a business for financial reasons can be the hardest part of running one.

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But by the point I had joined, they still hadn't. They were overdoing the mvp and they still hadn't launched. So I came in, and then we launched, and we ran that for about two years. And we. Again, for the same sort of reason, we decided this is not quite working out financially in the way that we wanted it to. So we decided to close that down. And that's probably the hardest aspect of business, is to make it work financially.
And it's. Yeah. I mean, I also admire the courage to decide, look, let's not do a zombie business. It's time to pull the plug. A lot of people don't do that. They just sort of, like, keep going and get tied to it, and it's very hard. And talking about career transitions again, it's like, I'm in this job. I've been on it. I can't say it's not working. I'm gonna make it work. I'll die in this job. Yeah. But, yeah, nobody needs to die in the job or any business. And sometimes you just need to get out the, you know, the boats and leave the ship, and it's fine.