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
That’s why I’m excited to partner with @BalloonPlatform to bring the frameworks from #QUIT to life in my Flight Cohort. I’ve worked with the Balloon team to create exclusive discussion questions about prioritizing with the “monkeys and pedestals” model.
4/9
.@BalloonPlatform’s science-backed workflow negates harmful group dynamics and eliminates groupthink to improve decision-making. Leaders receive prioritized insights that reflect the entire group and are more diverse, leading to stronger decisions and uncovered opportunities.
5/9
If you're a business leader looking for a bias-free environment to make strategic decisions, a team leader looking for efficient way to accelerate decision-making, or an exec-level decision maker who wants to reduce risk & gain competitive advantage—I recommend signing up.
6/9
You also get copies of #QUIT for your team, an in-depth report deliverable with analysis, and recommendations on how to move forward from yours truly.
7/9
If you’ve already purchased #QUIT, you can get a discount code for 10% off of my Balloon Flight Cohort by filling out this proof of purchase form: surveymonkey.com/r/QuitADuke
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You can find more information and sign your team up for the Flight Cohort by visiting this webpage: learn.getballoon.com/annieduke. There are only 25 spots available, so act fast!
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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.
If you quit on time, it will usually feel like you are quitting too early.
1/5
Just as you can’t be 100% how things are going to turn out when you start something, you also can’t be 100% sure how things turn out when you are considering quitting it.
That makes it hard to quit while there is still a chance things could turn around.
2/5
When you are weighing whether to quit something or stick with it, you can’t know for sure whether you can succeed at what you’re doing because that’s probabilistic.
Beware the power of positive thinking because it can make you stick to things too long.
Optimism causes you to overestimate both the likelihood and magnitude of success.
That means optimism, unchecked by realism, prevents you from quitting when you ought to walk away.
1/6
If (over) optimism improves performance, delusional confidence might be worth it.
If your business only has a 10% chance of success, maybe thinking you’re guaranteed to succeed improves your chances to 40%.
That boost might be worth the cost of being poorly calibrated. 2/6
@DonAndrewMoore, Elizabeth Tenney, and Jennifer Logg tested just this idea, looking to see if more optimistic people perform better on math problems or in Where’s Waldo games.