38. Know When to Quit

How do you know if you should quit something or stick with it? This episode explains the stigma of quitting and dives into some ways to assess your situation to understand if you should quit. I also discuss the balance of emotion and logic in making your decision. Don’t take this topic lightly! There are opportunity costs associated with sticking staying on the wrong path for too long. Be sure to share your experience with quitting, rather it be something you stuck with for too long, or how quitting led to a better opportunity. Come join the conversation and let's grow. This episode is fueled by Prepping with Peppers. Don’t forget to grab the free 5 Step Process to Goal Tending download at https://goalswithwill.com

 

Key Points

*Quitting can be a good thing if done at the right time for the right reason

*There are opportunity costs associated with quitting

*By choosing not to quit, you choose to stay

*Time and resources you already spent are a sunk cost. Don’t allow emotion to make you stay based on what you already spent

*Signs that it might be time to quit: Lack of progress or plateau; diminished passion for your goal; negative impact on mental, physical, or emotional health; feedback from others

*Filter feedback that you receive to identify what is factual and useful to you

*Use your milestones as a method of measuring progress

*Do a pro’s and con’s list for quitting vs not quitting to gain a better understanding of the situation

*Balance emotion and logic when you evaluate your situation

*Ask yourself what things will change if you quit to ensure you understand the impact and path ahead

*Once you make your decision, accept it

*Stay flexible to maximize your potential opportunities

*Know what’s best for you prior to telling others your decision to quit, and stick to it

*When you don’t know what the next step is focus on building resiliency, self-development, and education

 

Chapters:

00:00 Introduction

01:33 Why Knowing When to Quit Matters

03:04 People Who Quit and Succeeded

06:31 Opportunity Cost and Sunk Cost

08:57 Signs That it Might Be Time to Quit

13:44 Evaluate Your Situation

17:48 Making the Decision

21:03 Telling Other You are Quitting

23:01 How to Pivot and Move Forward

27:49 Closing

 

Links

https://goalswithwill.com