There must be a fine line between perseverance and stubborness. There must be a difference between holding on to a failing idea and holding on to one that hasn't yet succeeded. Surely, there are times to let go. Knowing where to draw that line, like knowing when to buy a stock and when to sell is perhaps a skill, an art, or plain dumb luck. But then there is more to the principle of perseverance.
To persevere is not to always make the right choice, but simply not to give up. It is to make enough good choices to permit another go. I think of a talented poker player: It's not always coming out on top; rather it's making sure that your wins outweigh your losses. Or think of evolution: it's not that every random mutation need contribute to fertility and survival; rather that the collection of features and behaviors must account for more benefits than detriments.
And so it is with entrepreneurship: persevere, reflect, learn, grow, evolve, and try again.
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