How to Know When to Quit | Scott H Young
They are pre-specified periods of time, effort or stress that you decide you’re willing to endure before you step back and re-evaluate.
SIMILAR ARTICLES & IDEAS:
The sunk cost fallacy is one of the primary reasons you are so afraid to quit anything. It occurs when you tell yourself that you can’t quit because of all the time or money you have already spent. The idea of all of that going to waste is what is keeping you at bay, paralyzed at the idea of quitting.
Sunk cost is about the past. Opportunity cost is about the future.
If you are scared to quit (which is absolutely natural), always think of the opportunity cost. Think of the brighter future, not the scary past, and often times that is enough to give you that extra push to make the right decision.
When you finally succeed, but you don’t have the health or someone to share the success with, the project might prove not be be worth it.
Take 5 minutes at the end of the week and reflect on what you have achieved versus what you had to give up to achieve it so you don’t end up giving up too much without even realizing it. Make this a habit.
It happens when you convince yourself you can't go forward with a decision, because you haven't given it enough thought, done enough research or figured things out to get started.
It has the same root cause as all forms of procrastination. It is caused by the desire to avoid something unpleasant: you don’t want to get started, so you start searching for excuses to justify avoiding the unpleasantness.
And there really are fears, uncertainties or doubts, which make doing more research an attractive excuse.
You have to manage 2 realities: