Timeless Business Advice from Singer Kenny Rogers

To be successful, you have to have your heart in your business, and your business in your heart.
Thomas Watson , Sr., founder, IBM

Although I was in the martial arts business for a decade, I physically taught martial arts for a living for only about four years. I enjoyed it for about nine months. Teaching seven-year-olds the same ten moves, three hours a day, six days a week, gets old fast.

I knew my time had come at Martial Arts America (my nationwide karate franchise) when I eventually wised up to the fact that despite a fantastic product, I could never realize my dream of 500 units operating under my banner. The churn rate was just too great. Instructors signed up and learned how to run their businesses better. Then when they thought they had all the answers, they quit and went back to being Joe’s Karate. Some of them made it, most didn’t.

I stayed in the business for another three years after I knew mentally that I was done, thereby wasting three years in limbo before finally pulling the plug and moving on to the next venture.

The opportunity cost of staying in a business beyond its “sell-by date” takes its toll physically, mentally, and financially.
As Kenny Rogers sang in the ‘80s hit song, The Gambler,
You have to know when to hold ‘em.
Know when to fold ‘em.
Know when to walk away,
Know when to run!

When your passion is gone, you HAVE to move ON.

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