How Do You Know When To Cut Your Losses?

How do you know when to cut your losses?

When your exit strategy says so…

Oh, you didn’t make an exit strategy when you got into it?

Better start making an exit strategy for all plans and projects in the future…

How do you make an exit strategy?

Decide what you are willing to lose ahead of time and put it in writing…

Is a 10% loss worth getting out, how about a 20% loss?

Learn how to count your intangibles too such as lost sleep, stress, and anything else that damages your health or well-being, or even intangibles such as your reputation.

It is wise to make the decision ahead of time, of when you will cut your losses. Because if you try to decide in the moment, your emotions will often get the best of you.

Don’t let a 100% loss fill you with regret…

Decide beforehand when you will cut your losses, make an exit strategy, and start getting some nice relaxing sleep at night.

Then execute your exit strategy with the confidence that you are making the right decision.

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