Don't Throw Good Time After Bad: The Sunk Cost Falacy | Five Minute Friday 07

Hope is NOT a Plan

Kevin Pannell, PMP, Kevin Pannell, and PMP द्वारा प्रदान की गई सामग्री. एपिसोड, ग्राफिक्स और पॉडकास्ट विवरण सहित सभी पॉडकास्ट सामग्री Kevin Pannell, PMP, Kevin Pannell, and PMP या उनके पॉडकास्ट प्लेटफ़ॉर्म पार्टनर द्वारा सीधे अपलोड और प्रदान की जाती है। यदि आपको लगता है कि कोई आपकी अनुमति के बिना आपके कॉपीराइट किए गए कार्य का उपयोग कर रहा है, तो आप यहां बताई गई प्रक्रिया का पालन कर सकते हैं https://hi.player.fm/legal।

14d ago 5:45

MP3•एपिसोड होम

Hey everyone, and welcome back to Hope Not a Plan podcast, I am your Host Kevin Pannell. Today we're tackling a tricky mental hurdle that can trip us up in both big and small decisions: the sunk cost fallacy.

Sunk costs are exactly that – sunk. They're gone. Dwelling on them clouds our judgment and keeps us from making the best choices moving forward. So, how do we break free from the sunk cost fallacy and make smarter decisions? Tune into this episode to find out how you can:

Focus on the Future, Not the Past
Separate Emotions from Logic
Embrace the Power of "Cutting Your Losses"
Reframe Your Perspective

Thanks for joining me on this exploration of the sunk cost fallacy. By recognizing this mental trap, we can make choices based on what's truly best for us, not just the time or money we've already invested. Now, go out there and make some sunk-cost-free decisions! Until next time, keep hoping, but also keep planning!

Stay safe out there, know that hope ignites and that action transforms, and I wish you all, Godspeed,

Kevin

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