How to Get Good at Quitting and Achieve Greater Success | Annie Duke

How to Get Good at Quitting and Achieve Greater Success | Annie Duke

In today’s episode, we cover quitting with Annie Duke. Annie is a national best-selling author, former professional poker player, corporate speaker, and consultant in the decision-making space, as well as Special Partner focused on Decision Science at First Round Capital Partners, a seed stage venture fund. Annie’s latest book is Quit: The Power of Knowing When to Walk Away

Quitting has acquired a bad reputation in a culture of grit and hustle, but even the most successful people quit things they’re working on frequently, so what is stopping you from quitting a failing project or relationship, and what questions can you ask yourself and others to determine when the right time to quit is?

What to Listen For

  • Introduction – 0:00
  • Why is knowing to quit just as important as grit and determination?
  • How do you know when to quit? – 14:58
  • Why do many of us quit things too late and waste valuable time that we could be spending on the next success?
  • What are some great examples of people making the right decision to quit?
  • Opportunity Cost Neglect – 33:26 
  • What is the blindspot that keeps us from quitting at the right time?
  • What happened to the game Glitch before Slack was created?
  • How do you break the Sunk Cost Neglect cycle so you stop wasting your time?
  • Other Biases and Blindspots – 44:30 
  • What is Escalation of Commitment?
  • What is the Status Quo Bias?
  • What is the Omission Comission Bias?
  • The Questions to Determine When You Need to Quit – 1:01:20 

Knowing when to quit is a vital key for success. It’s just as important as grit and determination because you need to be able to balance them in order to take the most successful route. Too often we find ourselves stuck in a vicious cycle called Sunk Cost Neglect, unable or unwilling to recognize that we’ve invested more time than we will ever get back. The ability to assess your situation and make accurate decisions is something great leaders have mastered, but with the right tools, anyone can start taking control of their future today. So don’t be afraid to do a bit of soul-searching here and there – quitting at the right time could very well be what sets you up for greater success in your future endeavors.

A Word From Our Sponsors

Are you ready to take your career to the next level in 2023? Looking to grow your high-value social circle?

You are one relationship away from changing your entire life.

Listen: your social circle, professional network, and lack of confidence are thwarting your attempts at accelerating your career.

But there’s something you can do about it.

After coaching over 10,000 clients including military special operators and Fortune 500 executives we’ve learned a thing or two about what it actually takes to grow your network. In fact, over 90% of the amazing guests on this show are from referrals in our personal networks.

We’ve packaged our best insights inside a course called, Social Capital. And, as a thank you for being a podcast listener, we want to give you this training for FREE to start 2023.

To get your hands on this training and immediately start improving your relationships, go to theartofcharm.com/sc

Do you LOVE the toolbox episodes? Did you know that every week we give a LIVE mini-toolbox lesson inside our Private Facebook Group? Best of all it is FREE to join. Join today and get access to all of our live training and level up your communication, leadership, influence and persuasion skills. With 14,000 members it’s a great place to network, learn and overcome any obstacle that’s in your way.

Running out of things to say in conversation… and still struggling to get people interested in you? That’s an uncomfortable position to be in. Don’t want to risk getting tongue-tied and screwing things up the next time you meet someone? Check out Conversation Magic now to make sure you don’t crash and burn. With our bulletproof formula, you’ll be flirting up a storm, sparking fun and engaging conversations, and making high-value friends anywhere!

Resources from this Episode

Check in with AJ and Johnny!

Get the Best of the Best

With over 800 podcast episodes, it’s hard to know where to start.
Let’ us help.

You may also want to listen...