Understanding the balance between grit and quitting is crucial for effective decision-making.
Survivorship bias often influences our perception, focusing on success stories rather than failures.
Quitting at the right moment may lead to better outcomes by embracing the concept of 'quitting on time'.
Deep dives
The Impact of Grit and Quit on Decision-Making
Understanding the balance between grit and quitting is crucial for effective decision-making. Grit, often seen as a positive trait, can lead individuals to stick with challenges despite adversity, as exemplified by Muhammad Ali's boxing career. However, the story also highlights the downside of unchecked grit, where Ali's refusal to quit despite health warnings led to significant physical damage. This illustrates the importance of calibrating grit and quit decisions, recognizing when quitting can be a courageous choice.
Survivorship Bias and Quitters
Survivorship bias often influences our perception, focusing on success stories rather than failures. The podcast discusses the tendency to overlook stories of quitters in high-stakes situations like climbing Mount Everest, where successful climbers or near-tragic stories dominate the narrative. By showcasing a lesser-known tale of climbers who wisely turned back based on predetermined turnaround times, the importance of recognizing quitting as a strategic decision is emphasized.
The Significance of 'Quitting on Time'
Annie Duke emphasizes the notion that quitting at the right moment may initially feel premature but can lead to better outcomes. By introducing the concept of 'quitting on time', individuals are encouraged to set 'kill criteria' in advance to identify signals indicating when to walk away from ventures. These criteria serve as proactive indicators, helping to prevent escalating commitment to failing endeavors and redirecting resources towards more promising opportunities.
The Importance of Quitting to Achieve Goals
Quitting can actually speed up progress towards overall goals by allowing individuals to switch to pursuits that are more worthwhile. Embracing the use of kill criteria, such as turnaround times on Everest expeditions, helps in making decisions to quit early. The podcast discusses examples like Levitt's experiment and the story of Chivano Keith to emphasize the significance of recognizing when to quit to avoid wasting time on pursuits that do not align with long-term objectives.
Rethinking Goals and Quitting
Setting goals without incorporating kill criteria can lead to detrimental outcomes, as seen in the story of a marathon runner who continued with a broken leg. Goals, often pass/fail in nature, hinder the flexibility needed to adapt to changing circumstances. The podcast highlights how myopia and the inability to see alternative paths can trap individuals in pursuing unfulfilling goals, urging the importance of reevaluating goals based on evolving information and values.
What if becoming a better quitter was something to aspire to?
Annie Duke thinks it is. She’s a national science foundation fellowship winner and bestselling author who’s used her background in psychology to become a successful poker player and business advisor. Lately, she’s spent time studying the power of quitting, a tool she argues is as important as grit, resilience, and sticking it out.
The science shows we’re not great at it. We don’t fire quickly enough. We don’t quit soon enough. We don’t end relationships early enough. Why? Well, identity and goals play a role. Along with many of the messages our culture sends that err more on the side of stick it out than on the side of quit and try something else.
Annie’s compelling book on the topic is titled, Quit: The Power of Knowing When to Walk Away. It’ll help you see how sticking with something that’s not working is just as much a decision as quitting. You’ll begin to view quitting as an important tool to add to your decision-making toolkit, especially when you understand better when to use it.
Episode Links
Into Thin Air by Jon Krakauer
To Change, or Not to Change? Just Flip a Coin
Horse by Geraldine Brooks
The Team
Learn more about host, Gayle Allen, and producer, Rob Mancabelli, here.
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