QUIT TO WIN

Quit To Win       

Few days back I met my friend who was running a Business.After discussing with him couple of minutes got to know that he was having some Business uncertainty and Financial imbalance.He was not sure whether to close  or to continue by that point.

   Just by knowing this situation the company staffs started quitting the company bit by bit.Even at this situation he couldn't close the Business since it is a  business of 7 year though the current situation had uncertainty.

I asked him you couldn't quit because it's running for 7 years or you have any hope on this business to make it profitable.

He stood unanswered and confused. Then I had given him few real time instances.

Instance 1:

A reputed book stall named as TIMEOUT run by reliance company which was started few years back. Even after an year the company's profit didn't meet the margin as expected.So Reliance decided to close the concern and they shutdown after a careful prediction.

     I asked my friend after saying this incident, if a magnate like Mukesh Ambani is not bothered about his self respect & to close the concern. Why not you?

  Still he was not compromised. I just came up to his level and said more exemplar.

Instance 2:

Two friend went to a movie  to have some fun.Spent ₹200 for ticket and sitting inside the theater.Movie went very bored till interval and both of their mood got spoiled. One among the friend said frankly that the movie seems very boring and to leave the theater.But the other one said let us continue since we spent  ₹200 for the ticket.

   Question here is, do they really need to spend another 1½ precious hour in theater which both don't like to or to quit from the spot.?

 Even I pushed up him by saying another incident which happened to me.

Instance 3:

I have bought an Ice-cream box to my house and opened it up. The ice-cream started spoiling. I thought to throw away but my mom refused to do so. Her thought is it's a costly one and not to waste since just we bought it.But I disposed it.

Do I really need to eat the Ice-cream and to spoil the health or to dispose it and better to be careful in buying it next time.

Though we know buying and wasting food is a moral sin.!!

A term in English called [Sunk Cost Trap] which refers to tendency of people to irrationally follow through on an activity that is not meeting their expectations. This is because of the Time and / or Money they invested?

Where most of the people are in to this Trap nowadays.

One more Better Example to him:

Instance 4:

An aviation company was in to a project designing aircraft engines worth of many crores.The status of the project was about 90% completed & 10% yet to get completed. Still the company has to spend one million dollars to finish the project.

But at the same time a counter Aviation company accomplished the same project with advanced features and launched successfully in market.

Now the question is whether the company has to continue still which will cost one million dollars to complete the project or to Quit.?

OHIO university in America has decided to make a survey around two category of peoples on this topic and to find a better suggestion.

Category 1:

Question ? The project gets 90% over and 10 % yet to go. Whether to complete the project by spending one million dollars?

Answer :: Let us continue and finish the project by spending one million dollars. Not to stop.

They haven't thought that it might result in loss.

Which is not an intellectual thinking.

 Category 2:

Question?  The same question in a different way.

An aviation company designing an aircraft which will take one million dollars to complete. Mean time a counter Aviation company accomplished the same project and launched successfully in market.

Scenario: Time line is not mentioned to this category of people.Whereas time line is mentioned to first category.

Answer: They all answered to quit the project at this point.

They considered the situation carefully and analyzed that would result in failure since a similar project is launched already in the market.

Moral: Yes we all know that,

               

                                               " Winners never Quit

                                                 Quitters never Win"

Perhaps it applies to most of the cases while starting a matter. But don't fall in to a psychological trap.

                     Think how to overcome & Quit, which also leads to success.

                     Find a better opportunity which suits you better and go with it & Succeed.

                          " Sometime quitting is a strategy to success"

                                                                                                                              Yours Lovingly,

                                                                                                                              RamChandru.