December 04, 2009

Strategic Withdrawal or Doubling Down?

"The difference between perseverance and obstinacy is that one often comes from a strong will and the other from a strong won't."

Henry Ward Beecher
Mid 19th century social reformer

One of the most difficult tasks we all continually face is knowing when to quit.

In business, do so too soon and we miss opportunity. Too late and we are out of business.

How do you strike balance between the two?


  1. Great Question! In real estate we are told never to fall in love with a house that you wish to purchase...but why would I buy a house that I am NOT in love with? In biz, why would I abandon a business that I fervently believe in...the passion for the business is 90% of the magic!

  2. It is a tough call Paul (when to quit) but one that must be made.

    Today's Wall Street Journal has an interesting story about a guy who didn't know when to quit. No doubt he thought if he just hung in there, he would ultimately win. I have a few stocks I felt that way about as well, including a few I loved.