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What is “Sunk Cost Fallacy”? Here is a definition with examples!
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The more we’ve invested… the harder it is to let go, even when we know better...
One of the best mental models for entrepreneurs is sunk cost fallacy. Sunk Cost Fallacy describes our tendency to follow through on things after we have invested time, effort, or money into them. It’s the reason why startup founders and product teams often stick with failed ideas. Even when it’s 100% clear to them that the idea failed or isn’t living up to expectations.
Learn how to effectively think past the sunk cost fallacy in this video, so you can gain more momentum with your business goals and avoid getting stuck in a failing idea.
WATCH THE FULL VIDEO ON THE RICK KETTNER YOUTUBE CHANNEL
Follow Rick Kettner for episode updates, book recommendations, and more.
Content by Rick Kettner
Produced by Kyle Trienke
One of the best mental models for entrepreneurs is sunk cost fallacy. Sunk Cost Fallacy describes our tendency to follow through on things after we have invested time, effort, or money into them. It’s the reason why startup founders and product teams often stick with failed ideas. Even when it’s 100% clear to them that the idea failed or isn’t living up to expectations.
Learn how to effectively think past the sunk cost fallacy in this video, so you can gain more momentum with your business goals and avoid getting stuck in a failing idea.
WATCH THE FULL VIDEO ON THE RICK KETTNER YOUTUBE CHANNEL
Follow Rick Kettner for episode updates, book recommendations, and more.
Content by Rick Kettner
Produced by Kyle Trienke
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