I recently read that many writers, new and seasoned, spend too much time revising their rejected picture book manuscripts (guilty). Maybe we change the setting or characters or POV hoping that revision will lead to an offer from an editor or agent. But who can blame us? To discard a story that we've invested time in without exploring every avenue or possibility is akin to saying we knew it wasn't any good to start with!
Other reasons why we refuse to ditch our old manuscripts:
1. We know this is a subjective business. (Just because several editors or agents didn't like it, doesn't mean the next one won't!)
2. We’ve all heard stories about an author being rejected hundreds of times until he hit the right agent or editor.
3. We know agents or editors can be brutal when they’re trying to clear their inbox before a vacation or holiday. (One editor told me she gives each query 3 seconds to make her fall in love with it!)
The truth is, as much as we love our story, the reason it’s not being accepted is probably because the concept is not strong enough or absent, or the idea is not unique or marketable. The other truth is, we need to let go of the old stories and focus on better ideas.
I've posted a link to a blog post by picture book author Tara Luebbe. She explains how to consider the market before even writing your story. https://taralazar.com/2018/01/21/storystorm-2018-day-21-tara-luebbe/
Savvy Book Writers has a blog post with more questions to consider before you even put fingers to keys.http://www.savvybookwriters.com/15-important-questions-before-writing/