Go offline with the Player FM app!
The Fallacy of the Sunk Cost
Manage episode 423458226 series 3410462
The sunk cost fallacy is a dangerous trap that can hold entrepreneurs back from making smart, strategic decisions, but by recognizing the signs, overcoming psychological barriers, and fostering a culture of agility and experimentation, you can turn sunk costs into opportunities for growth and innovation.
Remember, the most successful entrepreneurs are not those who never fail, but those who know when to pivot and turn setbacks into strategic advantages.
--
The 10 Minute MBA, is a no-fluff daily podcast that teaches you practical business lessons you can use to grow your business immediately.
Success Story Podcast (successstorypodcast.com)
YouTube (https://youtube.com/c/scottdclary)
Newsletter (https://newsletter.scottdclary.com)
Twitter: https://twitter.com/scottdclary
Advertising Inquiries: https://redcircle.com/brands
Privacy & Opt-Out: https://redcircle.com/privacy
239 episodes
Manage episode 423458226 series 3410462
The sunk cost fallacy is a dangerous trap that can hold entrepreneurs back from making smart, strategic decisions, but by recognizing the signs, overcoming psychological barriers, and fostering a culture of agility and experimentation, you can turn sunk costs into opportunities for growth and innovation.
Remember, the most successful entrepreneurs are not those who never fail, but those who know when to pivot and turn setbacks into strategic advantages.
--
The 10 Minute MBA, is a no-fluff daily podcast that teaches you practical business lessons you can use to grow your business immediately.
Success Story Podcast (successstorypodcast.com)
YouTube (https://youtube.com/c/scottdclary)
Newsletter (https://newsletter.scottdclary.com)
Twitter: https://twitter.com/scottdclary
Advertising Inquiries: https://redcircle.com/brands
Privacy & Opt-Out: https://redcircle.com/privacy
239 episodes
All episodes
×Welcome to Player FM!
Player FM is scanning the web for high-quality podcasts for you to enjoy right now. It's the best podcast app and works on Android, iPhone, and the web. Signup to sync subscriptions across devices.