To be a great decision-maker, you need to quit a lot.
Quitting gets a bad rap but it is at least as important (if not more) than sticking to things.
1/2
It’s true that in order to succeed at anything you must have stick-to-itiveness.
But quit-to-itiveness tells you WHAT to stick to.
Be “quitty” to figure out when you should be “gritty.”
2/7
Time is a valuable and limited resource. Quitting things fast that won’t bear fruit lets you spend that resource on more things that matter.
Plus, if you quit a lot you can better figure out what you do like!
3/7
Quitting means you can try lots more stuff.
The more stuff you try, the better you will know know your own preferences.
You will be better at picking what it is you stick to.
4/7
No matter if I spend ten thousand hours working on becoming a professional singer, I will never be that because I am tone deaf.
5/7
If I try to become a singer, I need to figure that out as quickly as possible so I can quit and go spend my time on something I can succeed at (and enjoy more).
6/7
We’ve been trained to think of quitting as a form of failure. But that’s not true.
The skill of knowing when and what you quit is what gets you to success.
7/7
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In < 2 weeks (Nov. 28) I’m launching my 1st cohort-based decision-making class on @MavenHQ. It’s for entrepreneurs, executive-level decision makers, investors & anyone seeking to make higher quality decisions in their business, work, and personal life.
1/ 11
I've been studying how to make better decisions under uncertainty my whole adult life: professional poker player career, work in cognitive science, writing 3 books about decision making & consulting w/ incredible companies like @firstround@RenegadePtnrs and @mParticle.
2/11
My clients have to make high stakes decisions under conditions of uncertainty every day.
3/11
Quitting gets a bad rap. Language favors grit over quitting. We’re taught that people who quit are cowards and that quitting is an obstacle to overcome.
1/6
I reject this. I wrote #QUIT to rehabilitate quitting’s image and to show people that it is a valuable decision skill and our best tool for making decisions under uncertainty.
2/6
It allows us to change course when new information is revealed, let go of things that aren’t worthwhile, and make the best next move.
3/6
It’s critical to understand that while your intuition is probably telling you that improving quitting behavior won’t make a difference in your decision-making or your business – that intuition is not correct.
2/4
Quitting is your secret weapon. It’s a superpower that takes time to master, but once you do, you will save your organization time, energy, and money.
3/4
Lead your team through this exercise during my Flight Cohort on @BalloonPlatform. You'll identify mission-critical parts to tackle first, create experiments to decide what’s worth pursuing, identify tasks to put on the backburner & build a project plan around these pieces.
I can guarantee using this framework with your team will help you make the best next move and save your team time, energy, and money.
2/4
If you’ve already purchased #QUIT, you can get a discount code for 10% off of the Balloon Flight Cohort by filling out this proof of purchase form: surveymonkey.com/r/QuitADuke
3/4
Inflexible goals aren’t a good fit for a flexible world.
1/6
After we set a goal, it becomes a fixed object.
The goal becomes the object of our grit, instead of all the values expressed and balanced when we originally set the goal, even as all the inputs that led to choosing that particular goal evolve.
2/6
The conditions in the world change.
Our knowledge changes.
The weights we attach to the benefits and costs change.
In #QUIT, I outline the various cognitive and motivational forces that work against good quitting behavior. There’s sunk cost bias, desire for certainty, escalation of commitment, status quo bias, and endowment bias (to name a few).
1/9
I go into different mental models and frameworks to build good quitting behaviors into your toolbox, like thinking in expected value, increasing flexibility in goal-setting, establishing “quitting criteria” and contracts, etc.
2/9
I can’t emphasize enough how important these tools are — but it can be difficult to bring your team or company along as well, especially when collaborative settings add in a whole host of additional group dynamics and biases that work against good decision-making.
3/9