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You should change your idea when you (a) have new one you're convinced is better, and (b) it won't cost too much to switch to it (e.g. because it overlaps a lot with your current idea).

Harder to say when to quit. I suppose you quit when you can't take it anymore. Which means deciding that depends less on the product than on you.




I don't think it's a good idea to just quit if you have a new idea that you think is better. I say this from experience. A few months back I was convinced that we should drop our iPhone apps because we weren't passionate about them. We weren't making that good of money on them either. I was really passionate about a book sharing website (shower idea that you wrote about) and I wanted to devote my efforts to it.

Fast forward to now, had I have made that move, it would have literally cost me thousands - as the apps are really gaining traction. I blogged about the book sharing website twice and it seemed to generate little interest.

My criteria would be: a) If you aren't getting ANY traction in a predetermined period b) when you talk/write/tweet/blog/speak about your idea or product and very little seem interested, it might be time to quit or pivot. My 2 cents.

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Change your standard for being convinced that another idea is better, and pg's heuristic would have worked in your situation.

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PG, what would you do if you already had a profitable, slowly growing product that was based on a mediocre idea, and two new ideas:

  A good idea with low diversification costs
  A great idea with high diversification costs
I say diversification costs, primarily time and focus, instead of switching costs because the first product will still be maintained and grown, not abandoned.

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Depends on your goals. If you just want to make a good living with the least stress, change nothing. If you're more ambitious, try the great idea.

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Also (c) when your idea isn't working out.

We're undergoing a massive internal change that's pretty much akin to starting an entirely new business within a business, simply because what we're doing has less potential growth than what we're looking at doing, which is new (which is rare in our industry).

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Thanks!

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