When to cut one's losses

Circumstances (specifically my youngest daughter's swimming classes)precluded any other action such as getting there earlier or catching the train but I drove into Perth City last night to attend the free opening of Festival 2010 and then spent 40 minutes trying to find a legal parking space.

Plenty had parked illegally and perhaps I would have too if I had more clearance on my car/had been driving my wife's car but to no avail and we came home. I wasted time, petrol and above all an opportunity. Still we cut our losses, my youngest really did need to get to bed and my eldest got to watch a double episode of her favourite TV show (she was very happy) and my wife was at book club anyway. No harm done.

It struck me however that many activities including business are similar. Unrealistic goals are set without too much planning, time is wasted and opportunities go begging. One can go around in circles, all for a worthy cause but nothing is achieved and there comes a time to cut one's losses. But...someone recently told me that the light at the end of the tunnel is there and a lot closer than we think but it is around the bend and as we know light doesn't go around corners and just can't see it yet.

My conclusion, unlike last night's event (and to be brutally candid maybe I would have tried harder/taken more risk if I'd paid for tickets) where on balance it was best to cut and run, if you have a dream, are running our own business and have a realistic goal then stay the course as success whilst not visible yet maybe just around the corner.

Best regards, Jonathan.