While it can be disheartening for a business owner to accept, not every new product or service you develop is going to be a hit. Although you may be personally and financially invested, some offerings are going to be more well-received than others. However, it’s not always easy to know when it’s time to walk away.
As successful business leaders, many members of Fast Company Executive Board have experienced this dilemma firsthand. Below, they share 11 clear signs that may indicate your new product or service isn’t worth pursuing further.
7. YOUR RETURN ON INVESTMENT ISN’T INCREASING
Each company needs to establish goals behind every service and product. Keep a close eye on the ROI and key points, check on the marketing often, and make adjustments. If you don’t see the ROI moving up then you need to walk away from that specific product or service and start over. – Martin Rowinski, Boardsi
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