Episode 74 - How to know when its time to quit
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Last week I talked about getting good at failure and how real failure is only when you give up entirely. But I don’t think that conversation would be complete without talking about the fact that sometimes it is necessary and even beneficial to quit.
Knowing whether it’s time to let go of something is a topic that comes up quite regularly in my coaching, especially for people who are pursuing seemingly impossible or drawn-out goals.
It’s not uncommon to arrive at the question: "Is it worth continuing?"
There’s a thing called the sunk cost bias, and it can trick us into staying committed to ventures that no longer serve us, just because we've invested so much into them already. Whether in relationships, businesses, or personal pursuits, recognising when to walk away is really important. The caveat here is that only you can really know when it’s time to quit and when it’s time to persevere.
Signs It Might Be Time to Quit (or at least change something)
Persistent Unhappiness
If you're consistently feeling unhappy, stressed, or unfulfilled despite your efforts to improve the situation, it might be time for a change.
Loss of Passion or Excitement
A significant decline in enthusiasm and energy for your venture could signal it’s time to re-evaluate.
Negative Impact on Health
Your body doesn’t lie. If your health is deteriorating due to ongoing stress or exhaustion, your body is trying to tell you something. Get out in nature, connect back in with your body and listen. It might surprise you what you hear.
Toxic or Abusive Environment
When you're in a consistently toxic or abusive situation, walking away is often the best option. For me personally, there isn’t even a question around this one.
Lack of Growth or Advancement
If there’s no room for growth or opportunities for advancement, you might have reached the end of the road.
Misalignment with Values
When the venture no longer aligns with your core values, it might be an indicator to move on.
Persistent Gut Feeling to Quit
Your intuition is powerful. If your gut is persistently urging you to quit, it’s worth taking seriously.
Think about the last time you quit something and felt good about it. What made you realise it was the right choice? Reflecting on past decisions can provide you with clarity on the dilemmas you’re currently facing.
Signs it Might be Worth Persevering
Temporary Setbacks
There’s a difference between a temporary setback and a permanent problem. Cash flow issues, tech problems, or health setbacks can often feel overwhelming but they might only be temporary hurdles.
Ongoing Progress
If you’re still making progress and seeing improvements, albeit small, it could be worth persevering. Progress is progress, and you might be just around the corner from an encouraging amount of growth.
Passion and Purpose
Over the 16 years of running my business, there have been hard times when I have seriously questioned whether I should keep going. In those times, I always came back to my passion and purpose. If you still feel a strong sense of passion and purpose in what you’re doing, it’s worth pushing through difficult times.
Supportive Environment
A solid support system can make a huge difference in your persistence. Whether it’s a mentor, a group of friends or networking community, they can help normalise the challenges you’re facing and encourage you to keep going.
Positive Feedback
During the times I’ve felt like throwing in the towel, I would receive random positive feedback about the work I was doing. Good feedback, even a little bit, can be a strong motivator to keep going.
Continuous Learning and Growth
If what you have been pursuing still offers growth and learning opportunities, it might be worth persevering.
Reflect on past challenges you’ve overcome and how you felt during that time. They might have felt insurmountable at the time, but perhaps those situations can be an encouragement to keep going.
Deciding whether to quit or persevere is complex and nuanced. While persistence can pay off, sometimes quitting is the bravest and most productive decision you can make.
Remember, the goal is to learn how to coach yourself, tune into your own needs and make choices that align with your long-term well-being and goals.
Everything you desire might be just a step away, whether it’s quitting or persevering. Only you can know the right answer.
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