Don't judge a project too early in the process. Let it suck. Incomplete projects are full of flaws, and if you get too hung up on them, you'll never finish.
Get through the whole thing -- the first draft, the rough cut, the demo, whatever -- and then you can judge it and start making changes.
But it's essential, as a creative, that you maintain momentum and artistic purity all the way through that first version, or else you ain't never finishing.