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12 - When To Quit

Today I talk about when to give up. There's a large emphasis on persisting through challenges in our society, but there's times where it's best to just give up and move on. There's a couple of key things to consider when making this decision, and I share a few of them in today's episode.

Hey folks, I'm Stephen Peterkins and this is episode 12 of The Peterkins Podcast.

Often we are told to persist in the face of trials & tribulations. Perseverance is a known quality of success, and because of this it is widely celebrated by our society.

However, there are times where no matter how much time and effort you put in, you goal is unachievable. We like to believe that we are in control of every aspect of our lives, but we know deep down that this is not the case.

Here are a couple of things I think about when I consider whether to quit what I'm doing:

  1. What is the cost? We should be constantly assessing the cost of what ever we're working on. For startups this could be a very literal cost, but this also includes the opportunity cost. There might be something better waiting for us if we just stopped and took a look.

  2. Are you happy with what you're doing? You might be grinding and persevering through hardships, but if you're fulfilled that might be worth the struggle. However, if what you're doing is having a negative impact on your health or is making you unhappy with your life, it might be time to reassess.

  3. If you aren't lucky, try again Most of the time, the difference between success and failure is sheer dumb luck. If you're persevering through something that's just not working, it might be time to take another roll of the dice and try something else out. Success might be waiting behind the next corner.

Perseverance is important, but we should have the self-awareness to constantly analyze whether what we're working on is a valuable use of our time. Failing fast and quickly iterating to other potential opportunities helps us maximize our chances of reaching success.

Thanks for listening, and I'll talk to you later.