• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic

2

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

3

Amazon's record Prime Day masks a darker truth: Americans are spending more and getting less

1

Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic

2

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

3

Amazon's record Prime Day masks a darker truth: Americans are spending more and getting less
Commentary

What the Most Successful Founders Understand About Business

By
Vineet Madan
Vineet Madan
and
Bethany Cianciolo
Bethany Cianciolo
Down Arrow Button Icon
By
Vineet Madan
Vineet Madan
and
Bethany Cianciolo
Bethany Cianciolo
Down Arrow Button Icon
January 10, 2016, 11:00 AM ET
Vineet Madan
Vineet Madan McGraw-Hill EducationSteve Fenn ©2012 Steve Fenn
Add Fortune on Google for similar content.

The Entrepreneur Insider network is an online community where the most thoughtful and influential people in America’s startup scene contribute answers to timely questions about entrepreneurship and careers. Today’s answer to the question “How do you know it’s time to drop your startup idea?” is written by Vineet Madan, founder and CEO of Junction Education.

Launching a startup is hard—really hard. It’s a journey filled with rejection, second-guessing, and disappointment—and that’s if you’re lucky. So when do you walk away?

After nearly two decades climbing the corporate ladder at blue-chip companies—the last decade working in education—it became obvious to me that something was missing in the market: an easy way to curate and integrate materials from around the web and turn them into complete college courses. I spoke to friends, colleagues, entrepreneurs, investors, and others who agreed that there was likely an opportunity unfolding—one that could turn out to be quite profound—but still no one was going after it. So after careful consideration with my family and a trusted long-time colleague (who became my cofounder), I made the leap into the great unknown.

One thing you learn very early in startup-ville is there are 10,000-plus reasons why what you’re doing won’t work, won’t scale, won’t be profitable, won’t be defensible, etc., and there’s no shortage of people who will let you know. But if you’ve done your homework and spent hundreds of hours with prospective customers to understand their needs and pain points, you know something that all of them don’t know—that you’re right. We spent our first three months doing intensive research with faculty and students and found that even though faculty were still assigning textbooks, students weren’t buying them as often, and preferred to turn to YouTube and Google (GOOG) before flipping open those heavy tomes in their dorm rooms. So in spite of all of the negativity and rejection (of which there is plenty), you have to stay true to your ideas while staying focused on the only audience that really matters: your current and future customers. If you can solve enough high-pain problems for them in an easy-to-use way, the world will start to catch up with you, but if and only if you survive the grind.

See also: This Is Why So Many Startups Aren’t Successful

For every Snapchat, Instagram, or Facebook (FB), there are thousands of other companies that eventually realize success isn’t likely to be immediate. Sure, that makes great reading here on Fortune or TechCrunch, but that often isn’t the way success happens. It’s about persistence and fine-tuning, changing sales tactics, adjusting pricing, modifying marketing messages, tweaking product UX and UI, and getting the right team in place all to get to the magical mix that starts bubbling and frothing into what can become a successful business. Junction Education is our second name (the first—edRNA—proved, ahem, challenging), we’re on our third website and second approach to selling, and it’s finally all coming together.

It might not be exactly what you dreamed it would be when you started, but that’s okay. Insight and experience accumulate over time, and successful founders are always learning about their markets, their competitors, their staffs, and themselves while figuring out how best to adapt or pivot when necessary. In our journey with Junction, we’ve made a few pivots—from direct sales to faculty toward institutional licensing, from open educational resources (OER) only toward a mix of OER and licensed content, and, our first big change, from tablet only to web first, tablet optional. Each pivot enabled us to take the next big step forward in growth.

Evolve and survive with a chance to thrive or stop and reset. If you can manage the former, and are close enough to nailing the magical mix, keep on going as long and hard as you can. But if you know, I mean really know, that the road isn’t going anywhere, then pull over, get out of the car, and take a moment to admire where you’ve come before turning back around. I guarantee it’s worth it either way.

Vineet Madan is the founder and CEO of Junction Education, a company working with colleges and universities to deliver affordable, engaging and effective learning experiences.

Read all responses to the Entrepreneur Insider question: How do you know it’s time to drop your startup idea?

Your Personality Could Be the Reason Your Business Is Failing by Suneera Madhani, founder and CEO of Fattmerchant.

About the Authors
By Vineet Madan
See full bioRight Arrow Button Icon
By Bethany Cianciolo
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Commentary

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Commentary

nido
Commentary250 Years of Innovation
As an immigrant turned entrepreneur and college president, here is why I celebrate our nation as it turns 250
By Nido R. QubeinJune 25, 2026
7 hours ago
Asia’s defense boom is rewiring the global arms supply chain
Commentaryarms, weapons, and defense
Asia’s defense boom is rewiring the global arms supply chain
By Chris OberoiJune 24, 2026
21 hours ago
steve
Commentary250 Years of Innovation
Steve Case: America was built by entrepreneurs. Here’s how we keep that edge for the next 250 years
By Steve CaseJune 24, 2026
1 day ago
t
CommentaryWhite House
Trump mistakes the bully pulpit for bullying leadership — history’s villains were never heroes
By Jeffrey Sonnenfeld and Steven TianJune 24, 2026
1 day ago
mg
CommentaryHealth
The ‘tech neck’ time bomb: why 43 million young Americans could cripple U.S. health care within a generation
By Michael GerlingJune 24, 2026
1 day ago
sb
Commentaryclimate change
The climate policy triangle: why leaders can no longer choose between growth, security and sustainability
By Sebastian BuckupJune 23, 2026
2 days ago

Most Popular

Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic
Success
Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic
By Orianna Rosa RoyleJune 24, 2026
1 day ago
MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
Success
MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
By Sydney LakeJune 25, 2026
11 hours ago
Amazon's record Prime Day masks a darker truth: Americans are spending more and getting less
Retail
Amazon's record Prime Day masks a darker truth: Americans are spending more and getting less
By Nick LichtenbergJune 24, 2026
1 day ago
Ray Dalio just finished a 10-day trip to China. He says global leaders know America ‘doesn’t have what it takes to fight to maintain its empire’
Asia
Ray Dalio just finished a 10-day trip to China. He says global leaders know America ‘doesn’t have what it takes to fight to maintain its empire’
By Nick LichtenbergJune 24, 2026
1 day ago
After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup
Success
After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup
By Orianna Rosa RoyleJune 23, 2026
2 days ago
Ikea’s billionaire founder was so frugal that he bought clothes from flea markets and took free salt and pepper from restaurants
Success
Ikea’s billionaire founder was so frugal that he bought clothes from flea markets and took free salt and pepper from restaurants
By Orianna Rosa RoyleJune 25, 2026
11 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.