Strategic Quitting – Your Under-rated Business Superpower

Amazing FBA Amazon and ECommerce Podcast, for Amazon Private Label Sellers, Shopify, Magento or Woocommerce business owners, and other e-commerce sellers and digital entrepreneurs.

"Winners never quit and quitters never win." Famous words by Vince Lombardi, the doyen of American football coaches. Well, is that true? I don't think so. And today we're going to explore why that is not true and how it can help you change your business and your life. Stay tuned. Hi, I'm Michael Veazey from Amazing FBA and I'm the leader of the 10k Collective Mastermind, a mastermind for private label sellers and product brand owners who sell at least half a million dollars a year or more on Amazon. Over the last five years we've had members triple their revenue in one year, grow to eight figures and one member get to a seven- figure exit. Now we're taking it to the next level. I'm excited to introduce the 10K collective Uber mastermind. It's a unique combination of peer group support in person and online and specialist coaching. If you're ready to take your business to seven figures and beyond, then click the button to find out more about the 10k Collective Uber Mastermind today. If you're listening to this on a podcast, just go to TheAmazonmastermind.com. that's theAmazonmastermind.com to find out more today. Hi folks, this is Michael Veazey. Today I'm going to talk about the superpower, the secret power, of quitting when you can grow a business or a career by stopping doing stuff and starting to do other things, making space for other things. See this time of year, I'm recording this in early 2024, is often a time of year when people want to start new products; they want to launch new business ventures; and they want to explore new sales channels. And so they should. But before you can start doing something, before you have the time and energy and money to start something, particularly if you have a small team or a small business, you're going to have to stop doing something. Otherwise you'll never have the space, the money, the focus to start the did things that will work for you. So I think quitting is incredibly important, but you've got to do it strategically. So let's look at this quote. "Winners never quit and quitters never win," says Vince Lombardi. "Bad advice," says Seth Godin in his amazing book, The Dip. "Winners quit all the time. They just quit the right stuff at the right time. Most people quit, they just don't quit successfully." So strategic quitting and equally deciding when not to quit is really, really important. I'm really going to talk about this book, The Dip, very strongly today. Seth Godin's book. I really, really urge everyone to get it and buy it and read it. It's a really thin book, it's really short, but it's really important. It's on one theme, which is basically strategic quitting. When to Stick and When to Quit So the rough idea for the dip, emerged on Godin's blog- he ends the post with a great question "How do you avoid killing something too early? And last, how do you know when to kill a dud?" So let's talk about some of this stuff, and let's give you a few quotes from Seth Godin and translate them into practical action here. So first of all, he says, " Quit the wrong stuff, stick with the right stuff, have the guts to do one or the other." So we are going to go one way or the other. We're going to polarize this, this shuntering along in the middle with something mediocre or actively poor but not so bad that it's forced you to quit is the worst case scenario here. Why does the Mediocre Matter? So why is that actually so important? We're going to make some very important points. So the basic point is being the best in the world is surprisingly powerful. "Extraordinary benefits," as Godin says, "accrue to the tiny minority of people who are able to push a bit longer than most, and equally, extraordinary benefits accrue to the tiny majority of the guts to quit early and refocus their efforts on something new. So either which way, It comes down to being the best in the world." Being the best in the world Now,