QCI #010 - Time is Always of the Essence

The most important part of a deal is knowing when to walk away.

"Know when to walk away from the table." The Art of the Deal - Donald J. Trump

The most important commodity asset and commodity is time.

The most important part of a deal is knowing when to walk away. Don't let the sunk cost fallacy waste any more of your time; a mistake that most people make.

Time waits for no one, and it is always moving, so time is always of the essence.

This newsletter is designed to focus on Business, but this principle pertains to both personal life and business. How many people do you know who have wasted years unhappy or unsatisfied in the same job or a relationship? If you are reading this, maybe you have done it? How much could you have gotten out of life had you moved on when you should have? Although being stuck in this thought is rumination, which leads to resentment and regrets, which lead to depression, understanding it can lead to finding a solution to get you unstuck from this self-deprecating thought loop that can keep you in Strife or Depression. Therefore, here is a solution regarding relationships: life happens for you and not to you; life happens for you at the exact moment when you are ready to see, as life's plan reveals itself to you when you are ready to see it, as most of life is outside of your control. As for Business, if you have lost a year due to the sunk cost fallacy, you can regain control in the next 12 months by working twice as hard to maximize the upcoming year and make up for the previous year's losses, thereby resolving any regrets you might have.

If it is not broken, do not fix it, but never settle. One way to incorporate this in your own life is to never live the same year twice and call it a life.

Regret Minimization Framework = "Project yourself to age 80 and look back on your life with the idea to minimize the amount of regrets in your life. When you are 80, will you regret this decision?"

- Jeff Bezos

This allows you to move through life making intelligent and risk-assessed bold decisions.

Now that you understand the psychology of always moving forward when the time is right, in life and business, move forward with the regret Minimization framework.

And so: know when to walk away, as time is always of the essence.