The Tim Ferriss Show

#254: When to Quit - Lessons from World-Class Entrepreneurs, Investors, Authors, and More

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Jul 23, 2017
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ADVICE

Separate Hardship and Learning

  • Separate hardship from learning in your pursuits.
  • Quit if your core assumptions are wrong, and you wouldn't restart the project.
INSIGHT

The Dip

  • Scarcity increases value, and difficulty creates scarcity.
  • The "dip" is the challenging period that makes a project worthwhile.
ADVICE

Strategic Quitting

  • Differentiate between a temporary dip and a dead end.
  • Quitting is acceptable; winners quit strategically to focus on better pursuits.
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