1 thought, 1 quote, 1 tip
‘Seeking to spark the most potential within you per word of any online newsletter’
1 thought
In June 2020, I was holding onto a stock called Sino Grandness. In January 2018, I had bought $3200 of it at $0.195 per share. In June 2019, it fell to $0.017 per share. My $3200 was now worth all of $272. A fall of 91%.
I knew how to buy... but I didn't know how to sell. How to quit.
Throughout the time when it had fallen (and stayed fallen), I kept telling myself: it’s going to recover anytime now! On 1 June 2020, something clicked. ‘If I didn’t make radical adjustments, nothing would change.’
I sold it, realised the loss. 6 months later, the stock was suspended from trading.
Quitting is seen as a HORRIBLE thing. You’re told from a young age, ‘Don’t be a quitter! Quitters are losers!’ Why should you quit? When do you know when to quit?
Tough questions, but here’s 2 principles I’ve found helpful.
If you can’t do it anymore, quit. This means that if you don’t have the physical, emotional or spiritual strength to continue what you’re doing, putting an end to it is wise. Temporary pain, for longer term gain.
If the downside is greater than the upside, quit.
When there’s a radical change in circumstances, inertia leads us to keep doing the same thing. Not quitting therefore is not always an act of courage. It might not be the resilience that everyone talks about these days. It’s foolishness and fear.
Ask yourself the 5 whys. Why am I staying here? No, really, why? When you drill into it, you might realise it’s not courage or resilience.
It may be because you fear the new. You may not even feel yourself worthy of something better.
1 quote
As my therapist loves saying,
If nothing changes, nothing changes.
1 tip
Thinking about quitting is no easy decision. Our minds are not made for such complex decisions. Our minds are developed to save us from threats like the tiger in the jungle. Not for thinking about the ‘tiger’ you have in the office.
There are 3 different tools that help. Firstly, use a pros and cons list. A pros and cons list, whilst simple, can introduce a degree of rationality into an emotional decision.
Secondly, ask yourself: knowing what I do now, would I still do the same?
Lastly, extrapolate into the future. What would happen if this continued for another 5 years? When you procrastinate on making change, you take a short-term bias. You tell yourself: I can think about this tomorrow.
But as Thrive Themes founder Shane Melaugh once said,
“Procrastination isn’t a waste of time. It’s a waste of life.”
When crisis happens, the worst thing to do is nothing. You can change yourself to adapt to the crisis, you can change the environment to adjust better, but doing nothing…
Does nothing.
Stay tuned... On Friday, I've something in store for you!
Think others might benefit? I’m counting on you.
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