The Art of Quitting

Quit while you’re ahead is the chorus line of any good gambling streak. Good gamblers know that you choose your end or it is chosen for you. They know that when the crowd swarms to cheer you on, this is the exact moment to walk away from the table.

Buy low and sell high is the mantra of every good investor. Sure, it sounds logical enough, but when emotions come into play, it takes real discipline to cash in or face the law of diminishing returns.

Our favorite brands follow this same logic. Just when you think Apple couldn’t possibly top their last move, they delightfully surprise with another innovative wow, while quietly retiring the old. It’s a powerful magic trick. They dazzle us with what’s in their left hand, so we forget what disappeared in their right.

Jerry Seinfeld knew this when he walked away from one of the highest rated television shows at its peak. Michael Jordan left basketball when the world was wanting more. Even Dan Mica cited his reason for leaving CUNA is that no one should stay in a position longer than ten years. They all understand that what goes up, must come down.

It’s economics 101. Every product, service, TV show, career and business model has a beginning and an end. They are innovated, experience growth, mature and eventually die. Demand is not meant to be a sustainable resource.

{So, what should credit unions quit?}

Should some of our products, services and business models take a bow, exit left and make room for something better? What has reached its peak? The checking account? The branch model? The way people save?

We’re taught that no one likes a quitter, but the reality is that people love quitters who master the art of a graceful exit so something just as remarkable can take its place.

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About giraphcu

Greetings and salutations! Welcome to gira{ph}, a strategic marketing firm that helps credit unions amplify their greatness to create chemistry with consumers. The credit union movement has given so much to us. This is our way of giving back. Enjoy!
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