KNOW WHEN TO FOLD 'EM

Do you ever feel stuck?

Do you wish you could get to your goals faster?

Are you feeling held back from the life you want to be living?

I have an exercise for you that I want you to do

It has four steps 👇

STEP 1

Take a good look around you

Think about your job

Think about your home

Think about your partner

Think about your friends

Think about the city or town you live in

Think about your employees, if you are a boss

Write these things down

STEP 2

Now I want you to think objectively

If you were deciding today to move to this place, start this job, get into this relationship, make these friends, hire these people

Would you do it?

Forget about the past

Forget about why you made the decision before

Take a good look now, today

Yes or No

Would you decide today to get into these things?

Write this down next to each one

STEP 3

I know that was hard

It can be difficult to think objectively about things that we’re close to

We can get comfortable with things and overlook the shortcomings

We often stick with the decisions we’ve made because we want to “stick it out”

This third step is even harder

I want you to think about Why

What is it that you are not getting from these things?

Would your life improve if you moved to a different place, had a different job, was in a different relationship, surrounded by new friends, or with a different team?

STEP 4

Now is the hardest part

For the things that you’ve identified above

Where the answer is No and you’ve identified Why

If your instincts tell you that the situation will not improve

It’s very likely that the decisions you made before are holding you back

You’ll need to make the change

This won’t be easy

It takes courage

It may be painful because you may hurt the feelings of others

Change is hard

On the other side of change is a better outcome

A better business, a better life, a better you

But you can’t have both

You can’t have new things in your life without letting go of old decisions

SUNK COST

There is a thing called the Sunk Cost Fallacy

Let’s say you’re waiting for a train

You don’t know when it’s going to come

After 15 minutes, you think

It must come soon because I’ve already waited 15 minutes. I’ll wait just a few minutes more

Or you bought a stock in a company

The stock goes down 15% in a year

You hold onto it, thinking

Well it must go back up. I’ve waited this long, I’ll hold on just a bit longer.

The truth is the future may not have a connection to the past

Just because you’ve already invested- time, money, effort, love

It doesn’t mean that you should keep investing

A different choice will give you different results

The same choice may never give you the results you’re hoping for

That’s the Sunk Cost Fallacy

We all do it

But I encourage you to do the above exercise

I do this frequently and it has helped me make positive changes in my life and work

Those changes are never easy

But I’m always happy that I’ve changed course

Have a wonderful Friday

I’m rooting for you!

CHAD