It sounds really cool to say “I’ll never quit…” unless… wait… no. It sounds stupid.
If I’m eating a meal that tastes terrible, do I need to finish it? If I start a war that is clearly not solving any of the problems I hoped, do I keep fighting until I have nothing? If I have a show business that doesn’t work, do I just get more tshirts printed?
Entertainers need to be better at quitting than anyone. If it’s not working, not only is the floundering public, but it’s floundering because the public doesn’t want it.
The Hair
I had this bit in my show for ten years where I sprayed cooking oil in my hair. It was funny and perfect for that moment to destabilize the audience and establish my commitment to the bit. That oil would get on the ceiling of rental cars, on my hoodie, on my hands and even drip in my eyes on multi-show days. Ten years. If I didn’t wash it out, it would get on my pillow, then on my face, then on everything. 10 YEARS
It was worth it, until I was running low on oil one day and I tried just mentioning doing it. Same audience reaction basically. That spritz was cut that day from my show.
Sunk Cost
Moral superiority is not the only thing that keeps us in a sitch that stinks. The sunk cost fallacy is basically “I spent a lot of money on this hat that makes my face bleed, I’m going to wear it all day!” We’re allowed to quit. We’re allowed to throw away expensive things.
Sunk cost applies to money but also; time, reputation, energy, love (transactional love anyhow), and anything else that we feel we spend on stuff.
Loss Aversion
If we have put a ton into something, we won’t want to lose it. Loss aversion is a major motivator. People don’t want to lose what they have more than they want to gain something.
Because of the loss aversion bias, we’re more likely to buy into a double or nothing deal because it feels like we can prevent loss.
Allow yourself to quit today
What’s not working? What, going forward, is going to cost us more than it’s worth? A joke, a routine, a segment, a show, a gig, a career? Quit it all! At least we can be open to the idea that we can quit right now. Imagine it. Feel the relief.
Then, we make a decision based on this head space instead of trying to make big life decisions based on the fear of losing it all.
Use your flawed thinking for your benefit
Don’t try to fight the sunk cost fallacy, nor your loss aversion bias. They’re too strong. Here are two easy exercises.
- SUNK COST: Think of the things you’ve spent as gone. Looking at your work experience as business capital is not the same as holding on to your past. The money you invested in your tiger cages belongs to someone else now. Those cages aren’t worth what you paid for them unless they’re serving you at that value now.
- LOSS AVERSION: Think of your future as something you possess now. If your future is important to you, the time you spend tomorrow is something you own. You don’t want to lose that time by committing to something that’s not serving you.