Resources  >> Take The Loss And Run

About Vickie Sullivan

Vickie Sullivan is internationally recognized as the top market strategist for thought leaders, professional speakers and B2B professional service firms. Specializing in brand and message strategies in crowded markets, she has helped thousands of talented people outsmart their competition since 1987.

Written by: Vickie Sullivan  |  September 08, 2011

Take The Loss And Run

I used to think folks who stick with a losing strategy were stupid.  I am wrong.  According to this Fast Company article, it’s delusional stupidity.

My favorite line:  “It isn’t the initial loss that does for him, but the stupid play he makes in an effort to deny that the loss has happened.”  This hit me hard.  How many times do we keep betting on that web site, that book, or that strategy that we made up out of thin air?  Instead of moving past the loss, we compound it by taking on more losses.

I see this in our business all the time.  The scenario:  we come up with an idea, stumble upon some low-end buyers who like it, and mistake the dimes we get for dollars.  By the time we learn that the brand we created won’t translate into higher fees, we justify our idea with “well, so-and-so liked it.”  My question:  are the folks who like your brand as well as you do…are they your most profitable buyers?  And if not, why are you listening to them?

My engineer husband asks the same question every time I come to him with a tech problem:  “Did you reboot?”  I think that solution can keep us out of strategic hot water.  Instead of throwing good money after a bad idea, I’m going to say, “oops, let’s reboot” and move on from there.  How about you?


About Vickie Sullivan

Vickie Sullivan is internationally recognized as the top market strategist for thought leaders, professional speakers and B2B professional service firms. Specializing in brand and message strategies in crowded markets, she has helped thousands of talented people outsmart their competition since 1987.