Have you ever felt happy about quitting an activity that you have been doing for a while? Me neither. Not until a few months ago. I am not talking about quitting a bad habit, which we all know is for good. I am talking about quitting those activities, which we do without knowing its impact on those activities we really care. A couple of months ago, I read a little book called The Dip: A Little Book That Teaches You When to Quit (and When to Stick) by Seth Godin. Though the book made complete sense it was very hard for me to be convinced that quitting is good. Maybe it was due to my upbringing or it could also be due to my Indian roots - where most often we emphasise on perseverance until the end once we have begun an activity.
But, soon after I recollected one of the incidents from my life, I was able to understand and appreciate it completely. Here I am going to take you to that incident in my life where quitting was the best thing for me to do, so that you can exercise the power of quitting in whatever endeavours you are going through.
About five years ago, I was influenced by one of my friends into investing in stock markets. I saw him make substantial income through his trading much more than his full-time job. As I expressed my interest he also gave me tips, resources and guidance to get through the first few trades. Once I got a hang of what is going on, I was involved in it day in and day out long term stock investments, day trading and margin trading. I was reading market trends and stock tips to make a knowledgeable purchase. All this hustle was giving me profits one day and leaving me with losses another day. Every day and even every minute were interesting in the stock market.
Few months down the line, I took a step back and gave a thought on where am I going with it? Am I ready to invest the next 2, 5 or 10 years in mastering the art of investing? do I have the interest and acumen to do what it takes to be a master of the trade?
The answer to all the above questions was a clear NO. I was in for some quick wins - reading stock tips and so called experts opinions. I was far away from learning the core principles of investing. Moreover, I was also paying a huge opportunity cost because of this in my main profession of Software Development.
Looking from here the sensible decision for me is to quit, isn't it? Quit in my journey to be an average Joe in multiple endeavours and to focus all my energy into my main profession. So, I quit all my trade and moved everything into periodic automated investments called SIP (Systematic Investment Plans). If you notice I did not quit investing altogether, I quit in the quest to make maximum profits in a short time. With this one decision, I was achieving 80-90% of my original results with less than 5% of my time - a clear application of 80-20 rule or Pareto principle.
Then, with all this additional time and much more mental energy, I was able to focus all my efforts on one thing - learning new skills and technologies needed to thrive in the software industry. As I continued on this journey and learned new technologies more possibilities opened, I was able to multiply my income.
I am not saying investing time on the stock market is a bad idea. All I am saying is invest time on the one thing which you really want to be good at and quit the rest or at least quit in the quest to be at the top in all the rest. By quitting those activities that you care less, you are affirming what your main priorities are. It also ignites your interest and passion in those activities that you really care.
Take away? It's OK to try new opportunities but every few months or years look at where you invest your time and continue what you are good at in crossing the dip and quit all others that are circling around the cul-de-sac.
Do you have a successful quitting story? Leave it in the comments...
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