A real trick in leadership is knowing when to quit and a real hazard is hanging in too long.
A common mistake chief executives make is "when things start to go wrong, not being constructively critical enough to say, `This isn’t the right path. This isn’t working,' even if you have an investment in it," Drexel University president John A. Fry said during our Leadership Agenda interview published in Monday's Inquirer.
Leaders have to not be afraid to say, `You know what, I’m going to have to declare a mistake, and get out early, because I don’t like the way this is going," he said, "as opposed to letting your ego drive you forward to inevitable defeat, thinking that you could have fixed it, when you already sort of knew that it wasn’t headed in the right direction."
Fry says the same goes for people. "People you don’t have a good gut feeling about – who want you to do something with them, if you have a sense about them, not sure about this person, not sure I can trust them, what their motives are," he said." If you ever have a gut feeling about people that’s not positive, those are some of the situations to avoid."