The Power of Knowing When to Walk Away
Business leaders, with millions of dollars down the drain, struggle to abandon a new app or product that just isn’t working. Governments, caught in a hopeless conflict, believe that the next tactic will finally be the one that wins the war. And in our own lives, we persist in relationships or careers that no longer serve us. Why? According to Annie Duke, in the face of tough decisions, we’re terrible quitters. And that is significantly holding us back.
In Quit, Duke teaches you how to get good at quitting. Drawing on stories from elite athletes like Mount Everest climbers, founders of leading companies like Stewart Butterfield, the CEO of Slack, and top entertainers like Dave Chappelle, Duke explains why quitting is integral to success, as well as strategies for determining when to hold em, and when to fold em, that will save you time, energy, and money.
- How the paradox of quitting influences decision making: If you quit on time, you will feel you quit early
- What forces work against good quitting behavior, such as escalation commitment, desire for certainty, and status quo bias
- How to think in expected value in order to make better decisions, as well as other best practices, such as increasing flexibility in goal-setting, establishing “quitting contracts,” anticipating optionality, and conducting premortems and backcasts
Whether you’re facing a make-or-break business decision or life-altering personal choice, mastering the skill of quitting will help you make the best next move.
HOW TO DECIDE
SIMPLE TOOLS FOR MAKING BETTER CHOICES
What do you do when you’re faced with a big decision? If you’re like most people, you probably make a pro and con list, spend a lot of time obsessing about decisions that didn’t work out, get caught in analysis paralysis, endlessly seek other people’s opinions to find just that little bit of extra information that might make you sure, and finally go with your gut.
What if there was a better way to make quality decisions so you can think clearly, feel more confident, second-guess yourself less, and ultimately be more decisive and be more productive? Making good decisions doesn’t have to be a series of endless guesswork. Rather, it’s a teachable skill that anyone can sharpen.
Thinking in Bets
Making Smarter Decisions When You Don't Have All the Facts
“I’ve been writing this book since 2015, but it’s the distillation of issues I’ve been addressing since 2002 – and arguably since 1992 or even earlier. During the last half of my 20 years in poker, I developed a pair of mirror-image careers: using my behavioral science approach to teach groups of developing players about poker strategy, and using my poker background to teach business and professional groups about decision-making strategy. I am excited to offer this to you now in book form as Thinking in Bets: Making Smarter Decisions When You Don’t Have All the Facts.” —Annie