When should you let go of the sunk cost that is not performing?
How do you decide when to quit, walk away from an investment? It is as important a decision as the one you made when planning where to allocate your resources in the first place.
Strategic quitting is the flip side of strategic planning.
Realistically, you have only a limited amount of resource to be allocated. Determining the priority for those allocations includes being able to stop proceeding with some, and redirect. This acknowledges the opportunity costs often swept under the corporate carpet.
It is not being a quitter, it is sensible strategic leadership
The good thing about being at the point of strategic quitting is that you have actually done things, and hopefully learned from them. Therefore the next action you take should be better informed.
I am sick and tired of the fluff around strategic planning, what we need is less of it, and more strategic doing!!
Strategic quitting is a fundamental part of strategic success, embrace it.
