EFP 75: How To Decide When To Cut Your Losses

Justin Cooke

December 19, 2013

EFP 75- How To Decide When To Cut Your Losses

There’s something to be said about learning how to give up on something that isn’t working. It’s easy to listen to motivational speeches that encourage you to keep going, but when do you call it a day and cut your losses?

When to Call It Quits and Cut Your Losses

Today we share several stories about times where we had to decide to call it quits and the lessons we learned from our experiences. We talk about the leadup, turning point, confrontation, aftermath, and our final judgment of each event.

This is a really personal episode that took a lot out of both of us. It wasn’t an easy episode to record, so we hope you like it.

Check Out This Week’s Episode Here:

Direct Download – Right Click, Save As

Topics Discussed This Week Include:

  • New featured listing in the medical niche pulling in 2.4k/month on autopilot.
  • When you cut projects that just aren’t working
  • Failed partnerships and the importance of communication.
  • Realizing how miserable we were.
  • Becoming psychologically tied to something that you associate your business to.
  • Finding new opportunities and what works.

Mentions:

Quotables:

  • “Don’t get so psychologically tied to something. Be more open to adapting and changing your business.” – Justin – Tweet This!
  • “When you get desperate and take a deal out of desperation it’s usually going to wind up badly for you.” – Joe – Tweet This!

Like I said earlier, this was a difficult subject for us. Although we gave our thoughts on when to cut losses, we want to hear your advice too. As always, you can leave us a message on SpeakPipe or comment below.

Photo Credit: Freddie Alequin- Flickr


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Discussion
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  1. David says:

    Great podcasts guys , i’m listening to all of ’em , some of which I’m listening them on repeat!
    Love this show, you guys are great and make more podcasts, like weekly .I would love to listen to em!
    From Romania with respect :)

  2. bobdak says:

    Great podcast … we learn from your mistakes … also i just downloaded the “Awesome Screenshot: Capture and Annotate” Chrome plugin! thanks … Great suggestion. Merry Christmas … looking forward to a great new year!

    • Justin Cooke says:

      Thanks, Bobdak!

      Happy New Year to you as well! Hope you like the plugin…I’ve been using it quite a bit over the last few weeks!

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