We were having a discussion on how Yahoo lost everything. They declined to buy Google for $1 Million dollars. Microsoft offered to buy Yahoo $40 Billion and Yahoo later sold to Verizon for a ridiculous amount of $5 Billion. Now in 2019, Google market cap peaks above $800 billion. So, this is my take on this, like the sons of Issachar, know the time to start and quit, this called understanding time and season in Business
The sons of Issachar in the bible were described as those who understand time and season. They were the one that gave the Israelite the strategy of time. When to hit and when to run, when to plant and when to harvest, when to fight and when to run.
So, in business, you must know the best time to call it a quit. Yes, the nugget quitters never win and winners never quit stand. Knowing the best time to call it a quit in this scenario is to know when to re-strategize, rethink and to start another thing.
I believe Yahoo had many analytics that was pointing to failure or time to quit. Yahoo left the market when those big men that buy things in the market without pricing were begging to buy.
This is when to leave:
WHEN THE OVATION IS LOUD
Many entrepreneurs want more. Making money is cool and it is a dream of many entrepreneurs to rake in billion dollars. Yes! that is cool. But that is the best time to leave. When the hype is high, when the profit is on the high side. When all eyes on your child brain project receives accolades. It is time to quit and start another thing. That is what smart entrepreneurs do.
Flutterwave CEO and Co-Founder of Andela step down with an emotional letter. Despite Andela was doing great, impacting lives, making billion of investment, the co-founder Iyinoluwa E Aboyeji left and started Flutterwave. After scaling Flutterwave, he left to start another thing. That is a smart guy. He can never be caught up with the kind of Yahoo tsunami
From co-founder of Jobberman to Gokada co-CEO, the journey of Ayodeji Adewunmi. Jobberman was doing great before Ayodeji left to join Gokada. Not only that Jobberman was doing great, Ayodeji himself was doing great. After the acquisition of Jobberman by One Africa Media(OAM) group, Ayodeji still retained his CEO position. That means he was doing good. But he is smart, he left when the hype was high.
WHEN THE FUTURE SEEMS IMPOSSIBLE
When companies like Microsoft bid for the purchase of Yahoo, definitely something was wrong. From the progression, it has shown Yahoo has lost so many values hence the best time to call it a quit.
Well, despite the failure and lost, Yahoo was still sold to Verizon at a ridiculous amount of $5 Billion.
So, Like the sons of Issachar, know the time to start and quit. This is what business gurus called understanding time and season in Business.