Leaders Read#83
- Lars Christensen
- 1 day ago
- 2 min read
👋 Hello everyone,
Adam Kirk Smith said, "When quitting is done correctly, it isn't giving up—it's making room for something better."
Here are a few resources you might have missed:
📚 Book Summary:
This week's book is "Quit" by Annie Duke.
This is a fantastic book that makes you realize that our culture empathizes with "sticking in there" and "Having grit" as virtues when the truth is that we might be better off throwing in the towel. Quitting is the opportunity to go and do something else, to pull back some effort and energy that might align more with our goals and values.
One of my favorite takeaways from the book is this:
"We are reluctant to walk away when we should because we have the feeling that doing so will slow our progress or stop it altogether. But it is the reverse that is actually true. If you stick to a path that is no longer worth pursuing, whether it's a relationship that isn't going well, or a stock that you're invested in that's losing money, or an employee that you've hired who isn't performing, that is when you lose ground. By not quitting, you are missing out on the opportunity to switch to something that will create more progress toward your goals. Anytime you stay mired in losing endeavor, that is when you are slowing your progress. Anytime you stick to something when there are better opportunities out there, that is when you are slowing your progress. Contrary to popular belief, quitting will get you to where you want to go faster."
✅ Actionable advice:
As a leader, it is important to recognize "Sunk cost"—if you are in the minus, it is hard to quit. We open up a mental account when we start something, whether it's putting money or time into a project. When we exit that project, we close that mental account. But we don't like to close mental accounts in the losses. We don't want to waste or lose all the time and effort we put into the project. But what really matters is maximizing your expected value across all your combined projects, not whether any one project is up or down. But that is not how we mentally think. We don't think about the entire portfolio. We would do well if we would be quicker to cut our losses and free up resources and energy. Having a strategic "Quitting" mindset can drive your organization towards faster progress on what really matters. What should you quit today?
🧠 5 things I'm thinking about (April 18, 2025)
1.Preparing Quarterly Business Review Q1
2.Innovation program opportunities
3.Manager Community
4.A healthy team makes all the difference
5.Great book discussion today
Reading "7 Strategy Questions" by Robert Simons.
Have a great week!
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