A common best practice in the workplace when people are trying to be smart about a project is to ask, “what is the measure of success?” I would propose that a more pertinent question is, “what is the measure of failure?”
The truth is that most projects neither succeed wildly, nor fail spectacularly. Rather, most linger in a middle ground of neither. These are the worst types of projects because we continue to spend valuable resources—time, money and mental capacity—to support them when, really, they’re not all that beneficial to whatever we’re trying to accomplish. Given opportunity cost, they’re probably a net minus.
Naturally, the hardest part about these middle ground projects is that we’ve put a lot of blood, sweat and tears into them, so it’s hard to let them go. We know, just know, that with a little more time or effort the thing might be a success. Or, we suffer the Sunk Cost Fallacy: that we’ve invested so much and come so far, that it makes sense to go all the way. Probably, though, we’re better off cutting our losses.
Truth is, it’s not in our nature to cut our losses. Not cutting our losses is deeply imbedded in our DNA. Unlike other species, such as say a spider or a fish, humans don’t birth hundreds or thousands offspring hoping some will survive. We birth just a few offspring and protect each one like it’s…our baby.
Never discount Human Nature. In our modern, professional world, it’s more powerful than we give it credit for. In fact, it’s all-powerful, only second to Mother Nature. Remember the Scorpion and the Frog…
A scorpion and a frog meet on the bank of a stream and the scorpion asks the frog to carry him across on its back. The frog asks, “How do I know you won’t sting me?” The scorpion says, “Because if I do, we will both sink and drown in the stream, and I will die too.”
The frog is satisfied, and they set out, but in midstream, the scorpion stings the frog. The frog feels the onset of paralysis and starts to sink, knowing they both will drown, but has just enough time to gasp “Why?”
Replies the scorpion: “It’s my nature…”
So, next time you’re getting a project off the ground keep in mind that for certain aspects of professional life it might be better of to act not like a human, but to act like a robot…ruthlessly logical…and ask yourself, “under what circumstances will we kill this project?”