Kenny Rogers Was on to Something: How to Decide when Persistence is Worth the Effort

Kenny Rogers sang a song in the 1970s that gave some great advice: “You got to know when to hold 'em, know when to fold 'em, know when to walk away, and know when to run.” The song was about a gambler but you can apply this to leadership as well. Major projects usually produce change and change can bring resistance that makes you question your efforts. Some projects just take a long time to see results. How do you know when a project isn’t working out and should be scrapped or when it just needs some persistence to get through to the payoff? Rosabeth Moss Kanter provides us with 12 ways to know when to persist and when to give up on a hopeless project. The entire article is worth reading but here are her 12:

1. Are the initial reasons for the effort still valid? 
2. Do the needs for which this is a solution remain unmet, or are competing solutions still unproven or inadequate? 
3. Would the situation get worse if this effort stopped? 
4. Is it more cost-effective to continue than to pay the costs of restarting? 
5. Is the vision attracting more adherents?
6. Are leaders still enthusiastic, committed, and focused on the effort? 
7. Are resources available for continuing investment and adjustments? 
8. Is skepticism and resistance declining? 
9. Is the working team motivated to keep going? 
10. Have critical deadlines and key milestones been met? 
11. Are there signs of progress, in that some problems have been solved, new activities are underway, and trends are positive?
12. Is there a concrete achievement – a successful demonstration, prototype, or proof of concept? 

After thinking through these points, as well as anything else relevant for your particular setting, you will likely be clearer on whether to “hold ‘em or fold ‘em.”