Quitting is a required skill for leaders, one that we should develop and use much more frequently than we currently do. This is the theme of Annie Duke’s most recent book Quit: The power of knowing when to walk away (2022. Ebury Edge). Society typically implores us to “soldier one”, “Never give up”, and to remember that “Energy and persistence conquer all things”, and even actively shames quitting through expressions like “Quitting is never an option”, “You cannot fail unless you quit”, and “Nobody likes a quitter.”
But Duke challenges this approach and illustrates her position with numerous examples that include summitting Everest, bankrupt corporate empires, software development, and professional poker. Taking a common-sense narrative, Duke advocates a data-based approach that considers options and expectations, noting that failing to achieve key strategic goals and targets are wanting signs that it might be better to ‘cut and run’, rather than keep on ‘throwing good money after bad.’
Also drawing on the work of psychologists that include Nobel Prize winners Daniel Kahneman and Richard Thaler, Duke presents a science-based rationale for knowing when it is time to quit, instead of persisting at all cost. Littered with case-studies to illustrate, and written in an easy-to-read style, this book is a very timely and must read for all current and inspiring leaders. Very highly recommended.