Cut your losses
Definition 1 of 1
Pro Tip 1/3Business Context
Often used when discussing investments or business endeavors that aren't going well. 
The cafe was not making profit, so the owners decided to cut their losses and close it.
Pro Tip 2/3Quick Decision
Suggests making a prompt decision to prevent further loss, without waiting to see if things improve. 
Our ad campaign was ineffective, so we cut our losses and tried a new strategy.
Pro Tip 3/3Not Just Money
Applies to situations beyond financial loss, like wasting time or effort on something unfruitful. 
I spent too long trying to fix the old car and eventually cut my losses and bought a new one.