Tim Ferris recently released an episode on his podcast called When To Quit and I really loved it. My favorite part was when Seth Godin talked about “the dip”. He actually wrote a book about this, The Dipshould overcome every dip that comes their way. If they did, they would have an extremely high risk of seeing projects, jobs, or even relationships through that they simply were not in love with.
So how do you know when to overcome a dip and when to throw in the towel. For this there were two pieces of advice. One from Seth is ask yourself if you’re making forward progress. Even if it’s small, analyze if you’re making forward progress. If you are great, you should most likely keep going. If not, examine if you’ve been doing everything you can, if the market is right for what you’re trying to do, if there even is a market for what you’re trying to do, and then consider calling it quits.
The second piece of advice is to ask yourself, if you could take away all the progress you’ve made and go back in time and start over would you do it? If the answer is no, you like the progress you’ve made you just don’t like how hard it’s getting then keep going. If you would take away all the progress you’ve made and get your time back then don’t waste any more time.
This is an important question, because today’s society has gotten a bit caught up in the “never quit” mentality, and that isn’t always the smartest decision. What’s important, I think, is that you think hard before you quit and make sure it is an unfortunate moment, not a habit.