Eric Sink is his blog last week wrote about the Law of Failure. I specially likes when he says:
When you realize you’ve made a mistake, cut your losses.
It’s just so hard to admit a mistake. Denial is a wonderful thing.
In his book, Barry Moltz busts the myth that persistence is the most important thing for an entrepreneur. Moltz claims that winners are people who know when to quit.
I completely agree. We need to give ourselves the freedom to take risks and try a lot of different things. But the obvious corollary here is that not all of those risks will work out. We need to learn to quickly recognize the ones that don’t and take the appropriate action.
