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When to Quit and When to Stick
I’m a big fan of quitting. Sometimes it’s just the right thing to do. Get rid of the dead weight every once in a while, I say! Sometimes when you’re in a business that’s just not working or when you have an investment that’s not performing, it’s just the right thing to do…cut it loose! One of the mantras we hear all the time is “never quit”. It gets ingrained into our psyche. We think if we quit, that means we fail. I want to discuss very briefly when it’s good to quit and when it’s good to stick with it. I’d also like to get your thoughts on this.
Time to quit Quitting does not mean failure. Some things don’t work. You don’t need me to give you all the common examples of failures leading up to success, do you? Michael Jordan is famous for pointing out that he’s missed the game deciding shot many times more than he’s made it. He’s missed more shots over all by far than he’s made. Yet no one considers him a failure…sometimes you simply write off your misses and move on to the next shot. You may not think playing basketball is a ... more

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