The more you’ve invested in anything, the more critical it feels for you to get a return on that investment. So, what happens if you keep pouring money into these efforts in the hope that it will eventually work out in your favor?
These kinds of skewed choices come about thanks to the sunk cost fallacy—the tendency human beings have to be swayed toward illogical decisions based on what we’ve already spent.
Let’s discuss how to avoid this in your business by working through the logic, free of the emotional context that the sunk cost fallacy introduces.