Leadership and the idea of the sunk cost fallacy


Have you ever found yourself in a situation where you felt that you had invested so much that it was too difficult to walk away from that investment? You look back and wonder how you spent the last year investing in a business that has not been fruitful? You ask yourself how you could have spent so much money on a pair of shoes that hurt so bad? And yes, you keep wearing them. Are you stuck with a job that does not suit you because of a million reasons? Have you hitched on investments you have previously made? The best part of it is that guess what, you are not alone and I have been there too. The effort, time and money you and I have invested is actually gone, there is nothing we can do about it. Acknowledging the truth has been painful yet liberating. Acknowledging this concept has been powerful, as it has helped me make better decisions that are not based on past investments. Join me as we get into the habit of designing our lives using the tools we have at that point in the toolbox of our lives to make better choices for our future.

For more:https://youtu.be/AFPgxIJHxsE

#leadershipredefined


My name is Primera Muthoni and I enjoy designing products and services.  On other days you will find me supporting women entrepreneurs by helping them navigate and adopt technology  to accelerate business growth.

Opinions expressed are solely my own and do not express the views or opinions of my employer.

Comments

  1. Racheal SenyondoJuly 27, 2021 at 9:18 AM

    Very insightful.

    ReplyDelete
  2. Festo MwebazeJuly 27, 2021 at 9:21 PM

    This is a painful yet realistic phenomena.. Thanks Primera .

    ReplyDelete
  3. Viola MbonekoJuly 29, 2021 at 6:27 PM

    We are always under pressure and measure success only by what we achieve not appreciating the lessons in the failures*. No wonder we do the same things wrongly. We do not digest. Thanks 👍

    ReplyDelete

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