We all have had it happen – we’ve hit those little dips in life. That point where we need to decide – should I stay or should I go?
Thanks to ten questions with Seth Godin from Guy Kawasaki he helps point out that these are the moments you really need to look at:
1.Question: Other than hindsight, how does someone know when it’s time to quit?
Answer: It’s time to quit when you secretly realize you’ve been settling for mediocrity all along. It’s time to quit when the things you’re measuring aren’t improving, and you can’t find anything better to measure.
Smart quitters understand the idea of opportunity cost. The work you’re doing on project X right now is keeping you from pushing through the Dip on project Y. If you fire your worst clients, if you quit your deadest tactics, if you stop working with the people who return the least, then you free up an astounding number of resources. Direct those resources at a Dip worth conquering and your odds of success go way up.
What’s the worst time to quit? When the pain is the greatest. Decisions made during great pain are rarely good decisions.
I won’t spoil the rest – it’s an interesting look at that introspective process when the times get tough – not just for businesses, but in careers and education.
The best time to ask this question (should I quit in the middle of a dip) is before you hit the Dip. Smart people can see Dips in advance and plan for them. If you want to be a doctor, the time to decide is before you get to the organic chemistry midterm, not while you’re taking it.
Great read from a great blog – I may have to pick up a copy from the library (after it’s released, I mean).