I talk with a lot of entrepreneurs who are fighting the good fight for their current dream. Often I'll ask the CEO whether he or she has set a date that they will fold their tents up and try again. It's not often that I get an answer.
I understand that they hold what they do with great sanctity, it's their baby! I also understand that great entrepreneurs are resilient, not myopic. Failure is part of the risk taking game.
When I started my own consulting business about 5 years ago, it was REALLY hard to throw in the towel on it. I never really figured out a sustainable growth oriented business model for the valuable service I provide helping entrepreneurs build content for investor presentations.
Every day I kept the business my sole focus it got harder to throw in the towel. Eventually I did and took a full time job at Homestead Technologies which I love. Ironically, since then, I've gotten some nice business opportunities to do what I do best, consult with entrepreneurs helping them stay focused and understandable.
I guess what I've learned most from throwing in the towel is that I can (and probably will) try it again. But it wasn't easy to learn that lesson!