Know When To Fold’em
“You’ve got to know when to hold ’em, Know when to fold ’em, Know when to walk away, And know when to run.” — Kenny Rogers, The Gambler
Early in my SALES career I was looking to start a side business.
I did some research.
Somehow I landed on the idea of trading stock options.
I attended multiple weekend long seminars.
I even bought special software that was supposed to help me find the right stocks to trade.
But the more time I INVESTED, the less it felt right.
Thousands dollars and dozens of hours were sunk into my new options “business”.
What should I do?
Fight through the doubt?
Winners never quit, right?
Fast forward to 2015…
I hear and feel a LOUD pop in my knee while training Jiu Jitsu.
A few weeks later I’m standing in front of an orthopedic surgeon.
He tells me I need my knee reconstructed.
Was it time to RETIRE my GI?
Maybe time to buy my first pair of salmon colored pants and start golfing?
These 2 scenarios raise a Timeless question:
When should we QUIT?
When should we KEEP GOING?
Seth Godin writes in The Dip, “Winners quit all the time. They just quit the right stuff at the right time.”
Motivational quotes like “Winners never quit. Quitters never win.” can be hazardous to your wallet.
This is FAKE NEWS.
New projects we take on START the same:
- Excitement when we begin.
- Then it gets hard.
- We have to decide to keep going or quit.
This plays out from our New Year’s Resolutions to starting a new SALES position.
Every project has a BIG fat MIDDLE that is not fun.
We have to figure out if that JOURNEY is worth taking.
3 Questions — Hold’em or Fold’em?:
DO YOU STILL BELIEVE?
What is your gut telling you?
Do you still believe in what you’re doing?
The first person we have to convince is ourselves.
WHAT ARE YOU MISSING?
When we say “Yes” to something, we are saying “No” to something else.
Everytime I train Jiu Jitsu or write this blog, I am saying no to something. (Especially teeing off wearing those salmon pants…)
And I am OK with that tradeoff.
IS IT TIME TO CHANGE DIRECTION?
Knowing when to pivot is a true sign of a professional.
There may be a better use of your TIME and TALENT.
John Wooden said, “Failure isn’t fatal, but failure to change might be.”
Changing course may not be a failure. It can be a step towards something better.
After asking myself these 3 questions, I knew:
- It was time to RETIRE as a stock trader.
- Jiu Jitsu and I were just GETTING STARTED.
Know when to HOLD’EM.
Know when to FOLD’EM.