No one likes to make a bad decision. Maybe you hired the wrong person, took a job that wasn’t a good fit, or launched a new service that isn’t popular.
When you realise that you made a mistake, act fast. It’s far better to accept the loss now, rather than dragging it out and wasting even more resources. Think carefully about how you might make the situation better. You may not need to pull the plug completely. For example, if you hired the wrong person for the job, but they have the right attitude, they may be open to training to improve their skills.
But some problems require drastic, decisive action. If you absolutely hate your new job after a month, you may want to resign immediately so that the company can make an offer to another candidate. Once you’ve taken action, reflect on what happened. Could the problem realistically have been avoided? Sometimes the answer is no, but other times, if you’re honest with yourself, you could have prevented the situation.
Take the time to understand where you went wrong, so you don’t make the same mistake twice.