Have you heard of the Sunk Cost Fallacy?
Have you heard of the Sunk Cost Fallacy?

Have you heard of the Sunk Cost Fallacy?


Happy Monday team let's jump in.

?

I'm going to make this newsletter as short as possible.


Why?

Because this is a completely fresh idea than the original, which was a bit rubbish truth be told.


In fact, I got slightly attached to it even though it wasn't up to scratch.


Upon realising I was flogging a dead horse I decided, rather aptly, to use it for this week's topic.


Let's jump in!


The Sunk Cost Fallacy, First of all, the definition:


  1. the phenomenon whereby a person is reluctant to abandon a strategy or course of action because they have invested heavily in it, even when it is clear that abandonment would be more beneficial."The sunk-cost fallacy creeps into a lot of major financial decisions"


Now...

If you've invested significant time, money, or energy into something, it's easy to get attached.


As a result, you proceed even though the results are in some cases catastrophically bad.


See Diet and Weightloss Culture, Gambling etc etc.


Tip for today: Ensure you're not falling for the sunk cost fallacy.


With that in mind...

If you're banging your head against a brick wall trying to lose weight and get in shape, send me a DM instead.

Speak soon.

PS Here's my plan testimonials page for the curious.

Client Testimonials Page


Yep and funny enough, most people don't even know that they are acting influenced by this fallacy until it too late sometimes. The past should have no hold on you. Awesome writeup Mike

Andreas Yiasimi

?? Versatile Photographer Capturing Life's Moments from Weddings to Movie Stills ?? Passionate Vlogger & emerging Actor ?? Crafting Visual Stories That Resonate ?? Embracing life to the full inspired by amazing people ??

1 年

Nice one Mike ?? The world is going through some new and exciting changes and lifelong ideas that folk stuck by for years are now subject to change on a daily basis.

Zahmoul El Mays

Attorney At Law at CIVIL COURT CASES

1 年

Very nice

Maritha Koortzen - Health/Wellness Copywriter

Save Time ?? & Boost Revenue ?? with Proven Strategic Copy & Content for HEALTH Professionals, Coaches & Companies | B2B | B2C

1 年

Uuugh, great point, Mike! The weight loss industry is huuuge ?? and not always the best for your health or that of your wallet, right? ??

James Scott

Co-host of the Feral Minds podcast- theferalminds.com

1 年

Great reminder Mike! You owe the past nothing if it is no longer serving you.

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