Actually, I think that "Is it all futile" question tells me that this is a guy that is really in the trenches, not just talking about it. If any entrepreneur says that they have never asked the question, they aren't being honest with themselves.
The truth is that it isn't all futile, though it can feel that way. More than likely, you have some people on your team that shouldn't be there. That doesn't mean that they are bad people or that they have no talent or even that they are bad employees. It just means that they shouldn't be working for your company right now.
Adversity is tough and most people don't deal with it well. This is especially true of most employees. If they were wired to thrive in that environment, they would be entrepreneurs themselves.
That is why it is particularly tough to staff a start-up. It is all fun when you can talk about all the future success you will enjoy, but it starts to suck when you have one problem after another with your product, when you can't make payroll that first time, when you have to lay people off because sales weren't what is expected, and so on.
At the end of the day, all you can do is to lead the people that can be lead. Unless you are especially gifted at personal motivation, you probably won't be able to make someone feel better about the problems you are having if they don't want to feel better.
If that is the case, you might need to clean house a bit. If you can lift up an employee/partner and help them perform when things suck, keep them forever because you can't place value on that. If you can't, let them go. It will be kinder them and to you. It will give them the opportunity to find something that fits their personality better, and it will keep them from poisoning the attitude of the people who are trying to thrive in the situation you are in. An employee with a bad attitude costs a lot more than the wage you pay them. Trust me.
Of course, if this employee also happens to be a shareholder, you have to be careful and consider the ramifications. In that case, a good business attorney is in order. Hope this helps.