Quit

That’s the funny thing about grit. While grit can get you to stick to hard things that are worthwhile, grit can also get you to stick to hard things that are no longer worthwhile. The trick is in figuring out the difference.

Using a premortem is a great tool to help develop high-quality kill criteria.

You’re already familiar with the problem of opportunity cost neglect. Goal setting can exacerbate this issue. Once we settle on a finish line and a path to get us there, we become myopic, failing to explore other paths that might be available to us or other finish lines that might be better for us to head toward.

Sure-loss aversion makes us not want to stop something we have already started.

Butterfield came up with a code name for the tool, based on the acronym for “Searchable Log of All Conversation and Knowledge.” Slack. It stuck.

When we start something, whether it’s putting money into the pot in a hand of poker, or starting a relationship or a job, or buying a stock, we open up a mental account. When we exit that thing, whether it’s folding a hand, or leaving a relationship or job, or selling the stock, we close that mental account. It turns out that we just don’t like to

one of the fundamental problems of quitting. Quitting on time will usually feel like quitting too early.

Quitting on time usually feels like quitting too early, and the usually part is specifically when you’re in the losses.

Finish lines are funny things. You either reach them or you don’t. You either succeed or you fail. There is no in between. Progress along the way matters very little.