How Smart Founders Know When to Pivot or Shut Down Their Startup

A simple process for founders to make smarter, less emotional decisions with their startups.

- BY COLIN C. CAMPBELL

Have you ever wanted to launch a successful startup? Maybe you've thought about an idea that can solve a problem or make a small difference in the world. The truth is, ideas are everywhere, and starting a business today is easier than you think.

Today's startups look very different from the ones in the 90s, when even a basic phone system could cost tens of thousands of dollars. AI and outsourcing make it faster and cheaper to launch a business than ever before.

When I first decided to start a small business right out of college, my classmates thought I was crazy. “Become a lawyer,” they said. “You'll make a lot more money.” I worried that if I launched and failed, it would be humiliating. But I told myself, “What do I have to lose anyway?” My first business lasted 14 months before I had to shut it down, but it generated enough money to launch my second company.