5 Minutes to Greater Productivity [Two-Minute Mentor #11]

How to Get Unstuck---5 Minutes to Greater Productivity

When you’re stuck—whether it’s at work, play, love, or some other facet of your life,—don’t wait for external change to come about and inspire you. As I’ve written before, motivation is glorified as a personal trait. While it is beneficial to be motivated, folks who actually manage to get things done are those who find a way to work at whatever they are interested in even when they do not really feel like doing it.

When you’re stuck, if you can take time out and reflect on your current difficulties, many opportunities may open up that can help you get unstuck.

  • Clearly understand your objectives and your problems. Identify what you must do to solve problems or meet goals as efficiently as feasible. Get honest with yourself and reconsider your motivations. Being realistic can allow you to think more flexibly and creatively.
  • Target the causes of your problems and the reasons behind what you are doing. Analyze your current actions to determine whether they will effectively accomplish what they should. Look for ways to simplify your goals and targets.
  • Check if your perfectionism is holding you back. Folks who tend to be perfectionist are afraid that the world is going to see them for who they really are and that they won’t measure up. Could you lower your standards?
  • Organize your options. Are there faster-but-equally-effective alternative methods to the ones you’re currently trying? Could you learn new methods or delegate parts of your responsibilities to help you save time? Could you break your work into smaller, more manageable chunks? Focus on the next small step that will move you forward and set in-between deadlines.
  • Plan your work and carry on. Initiate the most efficient action plan to get the results you want. If you find yourself uninspired, take action—even a small step. Often, beginning to do a task builds momentum and motivation kicks in within a few minutes. Doing is everything.

Idea for Impact: The most effective form of change doesn’t happen to you—it comes from within you. To free yourself when you feel limited or stuck, take a breather and organize yourself. Introspection can unlock more adaptive behavior.

Inspirational Quotations #694

Everybody exists. It is only the few who live.|To live, you should have an ideal.
Swami Chinmayananda

Intelligent people have a remarkable ability to rationalize irrational actions, to re-tell history to fit their preferred, comfortable narrative.
Ben Casnocha

If you yourself are at peace, then there is at least some peace in the world.
Thomas Merton

When playing Russian roulette the fact that the first shot got off safely is little comfort for the next.
Richard Feynman

Character consists of what you do on the third and fourth tries.
James A. Michener

If you make listening and observation your occupation you will gain much more than you can by talk.
Robert Baden-Powell, 1st Baron Baden-Powell

The more of wisdom we know, the more we may earn. That man who seeks to learn more of his craft shall be richly rewarded.
George Samuel Clason

If you have a strong mind,|and plant in it a firm resolve,|you can change your destiny.
Unknown

Providence conceals itself in the details of human affairs, but becomes unveiled in the generalities of history.
Alphonse de Lamartine

Brood less, smile more and serve all.
Swami Chinmayananda

Unless I accept my faults, I will most certainly doubt my virtues.
Hugh Prather

Marriage is a coming together for better or for worse, hopefully enduring, and intimate to the degree of being sacred.
William O. Douglas

Humanity’s greatest advances are not in its discoveries — but in how those discoveries are applied to reduce inequity.
Bill Gates

The secret of concentration is the secret of self-discovery. You reach inside yourself to discover your personal resources, and what it takes to match them to the challenge.
Arnold Palmer

To give love is true freedom; to demand love is pure slavery.
Swami Chinmayananda

You are successful and creative only when you see an opportunity in every difficulty.
Swami Chinmayananda

The exception proves the rule.
Common Proverb

Fear must be entirely banished. The purified soul will fear nothing.
Plotinus

Death Should Not Be Feared

The Flickering Flame of Consciousness Will Go Out One Day

A friend was recently racked with melancholy: in the last few weeks, five of his family members and friends were diagnosed with debilitating diseases or cancer. This followed the passing away of a dear friend earlier this year. Like everybody else, facing the decline and death of the near and dear compelled my friend to contemplate life and confront his own mortality.

Convention can bind us to the notion that death is frightful and should not be talked about. However, death needs to be discussed—and contemplated—all the time, not in terms of the fear of life but as a reminder of the brevity of life. The great English author Graham Greene (1904-91) wrote in the novel Travels With My Aunt (1972,)

You will think how every day you are getting a little closer to death. It will stand there as close as the bedroom wall. And you’ll become more and more afraid of the wall because nothing can prevent you coming nearer and nearer to it ever night while you try to sleep…

Death Should Not Be Feared; It’s an Essential Progression of Life

When we’re forced to confront death, we resist doing so. Death is a very natural phenomenon just like birth, and there’s no need to shy away from it. In his famous 2005 Stanford graduation address, Steve Jobs (1955-2011) addressed his pancreatic cancer and his brush with death:

No one wants to die. Even people who want to go to heaven don’t want to die to get there. And yet death is the destination we all share. No one has ever escaped it. And that is as it should be, because death is very likely the single best invention of Life. It is Life’s change agent. It clears out the old to make way for the new. Right now the new is you, but someday not too long from now, you will gradually become the old and be cleared away. Sorry to be so dramatic, but it is quite true.

Accept the impermanence of health and life. Appreciate and live each moment wisely.

Bertrand Russell’s Evocative Reflection on Transience and Morality

The celebrated British mathematician, political activist, and philosopher Bertrand Russell (1872—1970) wrote a beautiful reflection on death and life in his essay “How To Grow Old.” The metaphors evoked by the way that Russell portrayed human existence “like a river” are overpowering.

The best way to overcome it [the fear of death]—so at least it seems to me—is to make your interests gradually wider and more impersonal, until bit by bit the walls of the ego recede, and your life becomes increasingly merged in the universal life. An individual human existence should be like a river: small at first, narrowly contained within its banks, and rushing passionately past rocks and over waterfalls. Gradually the river grows wider, the banks recede, the waters flow more quietly, and in the end, without any visible break, they become merged in the sea, and painlessly lose their individual being. The man who, in old age, can see his life in this way, will not suffer from the fear of death, since the things he cares for will continue. And if, with the decay of vitality, weariness increases, the thought of rest will not be unwelcome. I should wish to die while still at work, knowing that others will carry on what I can no longer do and content in the thought that what was possible has been done.

Idea for Impact: The Only Thing We Really Get to Influence About Death is the Course of Our Approach to Death

We may look at death and decline with fear instead of anticipation, but the alternative to death could truly be worse: boredom and stagnation.

Fortunately, though death and decline may be unavoidable, how we look at it is totally up to us.

Every brush with death and serious illness should remind you to accept the impermanence of health and life. It should help you appreciate and live each moment wisely. It should serve to remind you to cherish everything with you while you have them.

One of the Tests of Leadership is the Ability to Sniff out a Fire Quickly

One of the tests of leadership is the ability to recognize a problem before it becomes a disaster

I’ve previously stressed the importance of problem-finding as an intellectual skill. I’ve also highlighted why risk analysis and risk reduction should be one of the primary goals of any intellectual process. In this article, I’ll write about being proactive in identifying problems before they evolve into crises.

How Wells Fargo Failed to Recognize a Problem and Address it before it Became a Bigger Problem

As the Wells Fargo accounts scandal unfolded, it was clear that Wells Fargo’s leadership was well aware of the burgeoning problems early on, but failed to act decisively and nip the problem in the bud.

Given impossible sales quotas to reach, Wells Fargo’s “high pressure sales culture” opened as many as two million bank and credit card accounts on behalf of its customers without their consent. Employees were rebuked or even fired for not meeting aggressive cross-selling targets.

Human nature is such that high-pressure demands can deplete the willpower people need to act morally and resist temptations. And such demanding circumstances encourage people to go into defensive mode, engage in self-interested behaviors, and consider only short term benefits and dangers.

Leadership Lessons from the Wells Fargo Accounts Scandal: “A Stitch in Time Indeed Saves Nine”

Leadership Lessons from the Wells Fargo Accounts Scandal Wells Fargo’s leadership reportedly had data about ethical breaches, but they ignored or misjudged the impact of the problem. Wells Fargo even held a two-day ethics workshop in 2014 unequivocally telling their employees not to do that. As per an internal review, managers knew that 1% of employees had been fired for “sales integrity” violations.

Wells Fargo’s leadership didn’t act quickly and decisively to mitigate the effects of the crisis. Warren Buffett, one of the Wells Fargo’s biggest investors, summarized this leadership inaction at the 2017 Berkshire Hathaway annual meeting:

There were three very significant mistakes, but there was one that was worse than all the others … The main problem was that they didn’t act when they learned about it … at some point if there’s a major problem, the CEO will get wind of it. And at that moment, that’s the key to everything, because the CEO has to act. It was a huge, huge, huge error if they were getting, and I’m sure they were getting, some communications and they ignored them or they just sent them back down to somebody down below.

Leadership: “Only the Paranoid Survive”

Andy Grove (1936–2016,) the illustrious cofounder and CEO of Intel, was a famous worrier. At Intel, the focal point of Grove’s leadership style was worry and skepticism. He believed that business success contains the seeds of its own destruction, and that in order for an organization to have longevity, it needs to continue to worry about the future.

'Only the Paranoid Survive' by Andrew S. Grove (ISBN 0385483821) Grove’s principle was immortalized in his famous proclamation, “Success breeds complacency. Complacency breeds failure. Only the paranoid survive.” He eloquently explained his worrisome mantra in his bestselling corporate memoir, Only the Paranoid Survive (1996.) He wrote in the preface:

The things I tend to be paranoid about vary. I worry about products getting screwed up, and I worry about products getting introduced prematurely. I worry about factories not performing well, and I worry about having too many factories. I worry about hiring the right people, and I worry about morale slacking off. And, of course, I worry about competitors. I worry about other people figuring out how to do what we do better or cheaper, and displacing us with our customers.

At Intel, worrying about the future created a culture of triumph that propelled change and innovation. Grove never let Intel rest on its laurels and led the company to break boundaries in microprocessor innovation. During his tenure as CEO from 1987—98, Intel’s stock price rose 32% a year. Grove also said, “A corporation is a living organism; it has to continue to shed its skin. Methods have to change. Focus has to change. Values have to change. The sum total of those changes is transformation.”

Idea for Impact: Learn to Sniff out a Fire Better than Anyone Does

The principal tasks of leadership are (1) identifying the biggest risks and opportunities, and (2) allocating organizational resources. Therefore, one of the tests of leadership is the ability to recognize a problem before it becomes a disaster. If identified and addressed early, nearly any problem can be resolved in a way that is beneficial for everyone involved.

Many leaders tend to be reactionary—they claim, “why fix something that isn’t broken.” Even when they see an impending problem, they may assume that the problem “isn’t that big of a deal” and wish the problem will just go away. Alas, many problems never go away; they only get worse.

To become a good leader, be paranoid—always assume that “there’s no smoke without fire.” If, according to Murphy’s Law, everything that can go wrong will go wrong, the paranoid leader has an advantage.

Whenever you are doing anything, have your eyes on the possibility of potential problems and actively mitigate those risks. Never allow a problem to reach gigantic proportions because you can and must recognize and fix it in its early stages.

As the medieval French philosopher and logician Peter Abelard (1079–1142) wrote, “The beginning of wisdom is found in doubting; by doubting we come to the question, and by seeking we may come upon the truth.”

Inspirational Quotations #693

I’m not convinced that the world is in any worse shape than it ever was. It’s just that in this age of almost instantaneous communication, we bear the weight of problems our forefathers only read about after they were solved.
Burton Hillis (William E. Vaughan)

Happiness depends on what you can give, Not on what you can get.
Swami Chinmayananda

But he who has cleansed himself from sin, is well grounded in all virtues, and regards also temperance and truth, he is indeed worthy of the yellow dress.
The Dhammapada

Never compromise yourself, it’s all you’ve got.
Janis Joplin

To all that come to this happy place, welcome. Disneyland is your land. Here age relives fond memories of the past, and here youth may savor the challenge and promise of the future. Disneyland is dedicated to the ideals, the dreams, and the hard facts that have created America… with hope that it will be a source of joy and inspiration to all the world.
Walt Disney

Do as you would be done by.
Common Proverb

Perfection can be achieved only through devotion, for devotion is the basis of all success.
Chanakya Neeti

Life does not reward us for effort expended.
Anonymous

The human spirit needs to accomplish, to achieve, to triumph to be happy.
Ben Stein

It is not always easy to diagnose. The simplest form of stupidity – the mumbling, nose-picking, stolid incomprehension – can be detected by anyone. But the stupidity which disguises itself as thought, and which talks so glibly and eloquently, indeed never stops talking, in every walk of life is not so easy to identify, because it marches under a formidable name, which few dare attack. It is called Popular Opinion…
Robertson Davies

With each success your faith in the law will grow stronger, until you reach the point of total conviction. Then you will be invincible.
Roger McDonald

Integrate what you believe in every single area of your life. Take your heart to work and ask the most and best of everybody else, too.
Meryl Streep

Our Vision of What Our Parents Achieved Influences Our Life Goals: The Psychic Contract

Understanding Others’ Motivations is a Key to Building Better Relationships

Psychic Contract Theory: Children are Programmed to Want to Do as Well as or Better Than Their Parents Understanding others’ deep-held motivations involves recognizing what drives them, why and how they want to work, work styles they may adopt in various circumstances, and what levers you have to motivate them.

Take for example Abraham Maslow’s Hierarchy of Needs, a motivation hypothesis used widely for several decades now. Represented as a pyramid, this hypothesis proposes that people are motivated to fulfill basic subconscious desires such as food and shelter before trying to fulfill higher-level needs such as affection and prestige. Even though academics have extensively debated its specifics, Maslow’s Hierarchy of Needs has provided a handy framework to value the multifaceted composition of human motivation and to understand how to engage others.

The Relationship between Your Own Vision of Success and Your Parental Influence

'The Anatomy of a Great Executive' by John Wareham (ISBN 0887305059) One less-known framework for understanding the provenance of people’s life goals—their deep-seated aspirations for want to achieve in life—is the “Psychic Contract” hypothesis, a concept that dominates The Anatomy of a Great Executive (1991) by John Wareham, a leadership psychologist from New Zealand.

According to Wareham, a psychic contract is a set of “deals” we subconsciously strike with our parents early in life. Our life-goals are defined primarily by our own vision of what our parents achieved—and what they failed to achieve:

As we grow we absorb the values of our parents, and are conditioned to improve (albeit marginally) upon their achievements. We strike a psychic contract with them whereby “success” in life is defined by the attainment of a similar social positioning, which we later embark upon attaining, sometimes very consciously, but often entirely unconsciously.

Throughout our lives, we unintentionally adhere to our psychic contracts, despite the limitations they place on us. We use our psychic contracts to not only define and approach our life goals but also think about how we measure success.

We consciously measure success in terms of milestones and standards instilled by our parents.

As a rule of thumb, about three quarters or more of people in westernized culture seek first to equal, then marginally to improve upon the lifestyle or status level perceived to exist in the childhood home.

Psychic Contract Theory: Children are Programmed to Want to Do as Well as or Better Than Their Parents

Our Vision of What Our Parents Achieved Influences Our Life Goals: The Psychic Contract In The Anatomy of a Great Executive, Wareham goes into depth explaining how we can know our own psychic contracts and how we can reset our goals to give ourselves permission to succeed. Here are some other prominent learning points:

  • Our psychic contract is based on our birth order, our parents’ birth order, and roles we play relative to our parents in our families.
  • The so-called “prime parental injunction” sits at the heart of our conscious. We go through our lives trying to become the people our parents wanted us to be. Even people who spend their lives trying to become exactly the opposite of what their parents wished are still influenced by this injunction.
  • Every person has a pre-programmed financial comfort level. Most of us strive to reach this level; but once there, we slow down—not because we are lazy, but because we have fulfilled our inner desires and don’t need more. Wareham cites the example of commission-based sales people who, after earning adequate commission to reach their financial comfort level, tend to be less aggressive in selling cars to customers for the rest of the month.

Idea for Impact: “Psychic Contract” is a handy and thought provoking—if unsubstantiated—hypothesis to understand how your and other people’s deep-seated life goals are established. It can give you one more data point in trying to figure people out.

Become a Smart, Restrained Communicator Like Benjamin Franklin

Benjamin Franklin, America’s founding father, statesman, and polymath, was a doyen of the self-improvement movement. His methods for self-mastery are worth taking a serious look at if you’re interested in getting better at anything in life.

In his wonderful Autobiography (1791,) Franklin discusses his once-foolish delight in spinning artful arguments and doggedly winning over his opponents.

Winning an Argument Aggressively is but a Short-term Ego Victory

'The Autobiography of Benjamin Franklin' by Benjamin Franklin (ISBN 1492720941) As a young man, Franklin had a habit of fervently arguing his case in all matters and alienating people around him. He frequently ensnared his challengers with hard-hitting rhetoric:

I found this method safest for myself and very embarrassing to those against whom I used it; therefore I took a delight in it, practis’d it continually, and grew very artful and expert in drawing people, even of superior knowledge, into concessions, the consequences of which they did not foresee, entangling them in difficulties out of which they could not extricate themselves, and so obtaining victories that neither myself nor my cause always deserved.

However, Franklin ultimately recognized that his take-no-prisoners approach of arguing was by no means endearing him to other people. His realized that his brash way of outwitting his challengers had been self-defeating.

Benjamin Franklin, Doyen of the Self-improvement Movement

Arguing, if it is to Be Constructive, Must Be Done Tactfully

In an attempt to develop amenable character traits, Franklin radically improved the way he interacted with others. He let go of all expressions of conceit and bold self-confidence. He stopped using words such as “certainly” and “undoubtedly” in his speaking and replaced them with phrases that signified personal opinions—for instance, “It appears to me, or I should think it so or so for such & such Reasons, or I imagine it to be so, or it is so if I am not mistaken.”

I continu’d this method some few years, but gradually left it, retaining only the habit of expressing myself in terms of modest diffidence; never using, when I advanced any thing that may possibly be disputed, the words certainly, undoubtedly, or any others that give the air of positiveness to an opinion; but rather say, I conceive or apprehend a thing to be so and so; it appears to me, or I should think it so or so, for such and such reasons; or I imagine it to be so; or it is so, if I am not mistaken. This habit, I believe, has been of great advantage to me when I have had occasion to inculcate my opinions, and persuade men into measures that I have been from time to time engag’d in promoting; and, as the chief ends of conversation are to inform or to be informed, to please or to persuade, I wish well-meaning, sensible men would not lessen their power of doing good by a positive, assuming manner, that seldom fails to disgust, tends to create opposition, and to defeat every one of those purposes for which speech was given to us, to wit, giving or receiving information or pleasure. For, if you would inform, a positive and dogmatical manner in advancing your sentiments may provoke contradiction and prevent a candid attention. If you wish information and improvement from the knowledge of others, and yet at the same time express yourself as firmly fix’d in your present opinions, modest, sensible men, who do not love disputation, will probably leave you undisturbed in the possession of your error. And by such a manner, you can seldom hope to recommend yourself in pleasing your hearers, or to persuade those whose concurrence you desire. [Alexander] Pope says, judiciously:

“Men should be taught as if you taught them not,
And things unknown propos’d as things forgot;”

farther recommending to us

“To speak, tho’ sure, with seeming diffidence.”

Learn to Resolve Important Issues through Sensible Discourse

'How to Win Friends & Influence People' by Dale Carnegie (ISBN 0671027034) Franklin realized that this measured conversation and gentler interactions was helpful in preventing conflicts and softening resistance in those he wanted to influence. He writes, “This Habit, I believe, has been of great Advantage to life, when I have had occasion to inculcate my Opinions & persuade Men into Measures I have been from time to time engag’d in promoting.”

This rule of skilful conversation and interpersonal relationships later became one of the foundational principles in Dale Carnegie‘s masterful self-help manual How to Win Friends and Influence People—specifically, that our ticket to success in life is the ability to make others feel good about themselves.

Persuasion is Not About Outmaneuvering Others and Proving Them Wrong

The ability to communicate effectively, plead your case, and influence others is one of the most useful skills for succeeding in the modern world.

  • Learn to resolve important issues through sensible and mindful discourse.
  • Be assertive where you must, but never aggressive.
  • Be open-minded, understand the other person’s perspective, and keep your emotions under control.
  • Never insult, disgrace, or cause the other person to lose face.

Views, opinions, and judgments can differ, and these can and should be discussed civilly. However, to debate such differences vigorously so as to cause bad feelings toward is not necessary and is almost always counterproductive.

Idea for Impact: Arguing for the sake of deciding a winner is never constructive. When an argument starts, persuasion stops.

Inspirational Quotations #692

The essence of teaching is to make learning contagious, to have one idea spark another.
Marva Collins

Let go of the idea that your problem is permanent. Few troubles last forever. And those that cannot be solved can usually be managed.
Unknown

Some people are nice as a way of compensating for their not being good.
Marty Nemko

A true friend is not like the rain which pours and goes away. A true friend is like the air, sometimes silent but always around you.
Anonymous

Peace is not an absence of war, it is a virtue, a state of mind, a disposition for benevolence, confidence, justice.
Baruch Spinoza

Hope is both the earliest and the most indispensable virtue inherent in the state of being alive. If life is to be sustained hope must remain, even where confidence is wounded, trust impaired.
Erik Erikson

The chief condition on which, life, health and vigor depend on, is action. It is by action that an organism develops its faculties, increases its energy, and attains the fulfillment of its destiny.
Pierre-Joseph Proudhon

No one really knows why they are alive until they know what they’d die for.
Martin Luther King, Jr.

Getting your house in order and reducing the confusion gives you more control over your life. Personal organization some how releases or frees you to operate more effectively.
Larry King

It is important to expect nothing, to take every experience, including the negative ones, as merely steps on the path, and to proceed.
Ram Dass

Do not appease thy fellow in his hour of anger; do not comfort him while the dead is still laid out before him; do not question him in the hour of his vow; and do not strive to see him in his hour of misfortune.
The Talmud

The real men of achievement are people|who have the heroism to fuel more and more enthusiasm in their work,|when they face more and more difficulties.
Swami Chinmayananda

Your goal must not be to impress but to accomplish. That usually demands bringing out the best in others.
Marty Nemko

Before Jumping Ship, Consider This

Don't Jump Ship in Frustration

Dissatisfied with your job? Considering jumping ship? There’s no guarantee your next job will be any better. Many people who jump ship in frustration run into the same problems that were an obstacle with previous employers.

Consider working on a solution before trying to jump ship. Try to discuss your future with your boss.

  • Examine your motivations. Insist on realism. Do you have clear goals and priorities? Step back and assess what’s happening in your career journey. Don’t have unrealistic assumptions.
  • Start with a plan. What specifically are you seeking to make your job better? How can you get it? If you feel your career has become stagnant, realize that people who stay in one function or one industry may move up quickly in the beginning of their careers but often reach a ceiling later when they become too specialized.
  • Be brutally candid with yourself. Make sure you’re capable of handling the roles and responsibilities you’re seeking. Determine if they’re available.
  • Meet formally with your boss to discuss your plan. Take the initiative to lead the discussion; unlike at a performance review, here you drive the discussion.
  • During the meeting, ask your boss to evaluate your skills and your potential. Hear him out. Use active listening—repeat what he said to make sure you understand each other.
  • Give the boss your perspectives after hearing his. Don’t be confrontational. Try to cooperate. Think before you respond: reacting too quickly will set your boss on the defensive and guarantee an argument.
  • Once you’ve agreed upon a solution, do everything to progress it. Example: One woman wanted to be reassigned to her company’s trade sales unit. At her own initiative, she attended her industry’s trade shows, developed contacts, and learned what was necessary to succeed in sales and marketing.
  • Don’t expect quick action: changes take a little time. Perhaps you may be happier with a lateral move: many people think that careers should follow an upward trajectory. In fact, most jobs transitions don’t entail a promotion. Most successful careers involve a mix of lateral and upward movement.

Idea for Impact: Try to ask for honest feedback about what’s holding you back from a promotion. You’ll find it easier to tackle career frustrations in a familiar environment at your current employer rather than at a new company where you’ll be under pressure to learn the ropes and produce results quickly.

Let Go of Sunk Costs

When people put their weight behind an idea or a belief, they become invested in it. They are likely to fight its corner rather than discard that idea or renounce their prior decision.

This tendency to throw good resources after bad, rather than cut losses, is the Sunk Cost Fallacy.

Quitting is Not Always Wrong

'Thinking, Fast and Slow' by Daniel Kahneman (ISBN 0374275637) People frequently become stuck with poor decisions that they keep holding on to in hopes that they will eventually prove their efforts worthwhile. Here’s Nobel laureate in economics Daniel Kahneman (author of Thinking, Fast and Slow, the bestselling exposition of human irrationality) in an interview with financial journalist Morgan Housel:

When I work I have no sunk costs. I like changing my mind. Some people really don’t like it but for me changing my mind is a thrill. It’s an indication that I’m learning something. So I have no sunk costs in the sense that I can walk away from an idea that I’ve worked on for a year if I can see a better idea. It’s a good attitude for a researcher. The main trap that young researchers fall into is sunk costs. They get to work on a project that doesn’t work and that is not promising but they keep at it. I think too much persistence can be bad for you in the intellectual world.

Don’t Become Biased Against Quitting

Sunk cost fallacy, also called the Concorde Effect Sunk cost fallacy is why people who have already wasted money on tickets to an awful movie continue to watch it to the end and waste their time instead of walking out of the cinema hall. It’s the urge to justify previous decisions using the next one—for example, when people force themselves to munch their way through an unsavory meal at a restaurant or when people waste time in dead-end romantic relationships because they’ve already devoted so much time to the relationships and irrationally hope things will improve someway.

Some leaders continue a project once an initial investment is made and found flawed because stopping the project would be tantamount to conceding that previously-allocated resources have been wasted. For this reason, the sunk cost fallacy is also called the ‘Concorde Effect’ after the Anglo-French supersonic jet. In the ’60s, even though there was never a sufficient demand from airlines for the Concorde, the British and French governments continued to subsidize the development and production of the Concorde instead of admitting that they had wasted billions on a non-viable undertaking. The airline industry had long understood that the economics of supersonic transport were dubious, which had forced Americans to abandon their preliminary studies of supersonic jets.

Idea for Impact: Let to Cut Your Losses When Something’s Not Working

Sunk cost fallacy - Know How to Cut Your Losses When Something's Not Working Sunk costs are backward-looking decisions. Don’t become excessively focused on a specific goal or outcome—you’ll become inflexible and unyielding. You’ll narrow your options and make yourself feel more limited and inhibited.

Don’t get attached to ideas and become affected by the sunk cost fallacy as your projects develop. Remain objective, identify the warning signs of losing propositions, and abandon lost causes where sensible. As the American cartoonist Charles Schulz of Peanuts fame once said, “No problem is so formidable that you cannot walk away from it.”