Annie Drexler: It's great to have you back on. What are three key takeaways that we got from this conversation? Well, beware the sunk cost fallacy just because you've invested time, money, effort into something doesn't mean that you should continue. One question that you should ask yourself when deciding whether to quit or whether to stick with it is the following; would I start this today? Would I start this job today? Would they be better off if I didn't do them now? You can get my book Quit, The Power of Knowing, Going to Walk Away and follow me on Twitter.
#424: We’re taught to stay in the game.
Persist. Be gritty. Try, try again.
But sometimes, the best decision is to walk away. Move on.
How do you know when that’s right? When should you double-down … and when should you fold?
Today’s guest, Annie Duke, won more than $4 million as a professional poker champion. She wrote the bestselling book Thinking in Bets and co-founded a nonprofit that teaches kids decision-making skills.
Her most recent book, “Quit: The Power of Knowing When To Walk Away,” teaches the behavioral science, mental models and recognition of cognitive biases needed to successfully quit.
It highlights real-world examples of startup founders, athletes, mountaineers, and entertainers who either quit – or didn’t – and explains how to make a wise, grounded choice.
She joins us on today’s episode to describe the forces that hold us back from quitting – and how to recognize when quitting could lead to a better life.
For more information, visit the show notes at https://affordanything.com/episode424
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