Kill Criteria to Help People Quit Better

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Daniel Kahneman says that the worst time to make a decision is when you're in it. One of the things that doesn't help, and I think this is very, very important for financial professionals to hear, is saying, just treat the decision like it's fresh. Think about it as if you were new to the decision, as if you can somehow sweep the cognitive debris out of your brain of having made the initial choice. Here's an example of kill criteria. This is something that I did with a group of sellers at a company that I consult for. They all generate this independently in asymptotally. That's really important.

Annie Duke is a former professional poker player, decision making expert, best-selling author, and fortunately, a repeat guest on the show. Our first conversation about Annie’s background and best-seller Thinking in Bets is replayed on the feed. Her latest masterpiece releases tomorrow. It’s called Quit: The Power of Knowing When to Walk Away, and I’m going on record predicting it will be a best-seller in short order. Our conversation covers Annie’s compulsion to write another book, our instinct for grit, the case for quitting, the emotional and cognitive biases that stand in our way, and some techniques to improve our ability to quit effectively. Along the way, Annie shares some terrific stories from the book about Everest, Sears, the NBA draft, and the California bullet train.

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