 |
…when you set out clear kill criteria in advance and make a precommitment to walk away when you see those signals, you are just more likely to follow through, even when you are losing.
|
127 |
 |
The desire to maintain a positive self-image contributes to the problem with quitting. When you quit, you’re closing a mental account, and we know that we don’t like to close those accounts in the losses.
|
171 |
 |
As soon as you set a goal or a target, you put yourself immediately in the losses, at least in relation to your distance from the goal. As soon as you cross the finish line, you are now short of the finish line.
|
233 |
 |
One of the key findings of prospect theory is loss aversion, recognizing that the emotional impact of a loss is greater than the corresponding impact of an equivalent gain.
|
52 |
 |
In fact, losing feels about two times as bad to us as winning feels good to us.
|
52 |
 |
When we are coming to a decision fresh, having not yet incurred any losses or gains, loss aversion creates a preference for options associated with a lower chance of incurring a loss.
|
53 |
 |
Quit while you’re ahead…when the game you are playing or the path you are on is a losing proposition.
|
56 |
 |
…field experiments show that… when we’re getting bad news, when we are getting strong signals that we’re losing… we don’t merely refuse to quit.
|
81 |
 |
…we need to expose ourselves to the winds of change. We need to expose ourselves to our customers, both the ones who are staying with us as well as those that we may lose by sticking to the past.
|
022 |
 |
…when leaders don’t practice what they preach, you can almost see the staff’s loss of enthusiasm and goodwill.
|
077 |
