Sunk Cost

Over the years, there have been so many times when I've thought "I've invested too much, I have to keep going..."

It's a phenomenon that happens to so many of us. A job. A friendship. A project that should be scraped, but we think the time already spent warrants the need to see it through.

And yet trying to make a situation work even when it's not, can stall future growth, and in fact, even be toxic.

This is the definition of the sunk cost fallacy. We feel pressured to keep going on a given path - even if the conditions have changed or we know it's not working - because we think the investment of time or money justifies the continued effort, and according to the dictionary, "even when it is clear that abandonment would be more beneficial."

This is a tricky one. What's the line? When do you call it?

Hasn't tech and start up culture told us to not be afraid of failure? That must mean I have to keep going...right?

For me, I've learned with experience and reps that its true - sometimes you need to cut your losses and move on. Although admittedly, and recently, this has still been really hard to do with consistency. As someone who was conditioned to grind and push through, even when I knew I was past the point of exhaustion and not well, I was too afraid to "quit".

It felt like it was admitting defeat, like I couldn't do it.

This.is.nonsense.

It was not a personal failure. We need to rewrite the script. And reset the conditions so working doesn't come at the cost of living and wellbeing.

Knowing when the cost of staying is greater than the cost of moving on is an invaluable skill to hone, and one I'm still working on.

Let's be clear, it's OK to take risks - and you should. This is where incredible experiences and growth happens. Failing? That's OK too. In fact, it's necessary. Though suffice it to say, failing is not the best feeling as its happening. It's just important to know when to call it and pivot rather than staying stuck.

This doesn't mean completely giving up or abandoning your ambitions. But it does mean that we need to stop conflating failing and sunk costs. They are not the same, and there is danger in confusing one for the other.

What if admitting it was time for a change was..

• celebrated.
• surrounded in support.
• enabled by companies to facilitate different types of work modes and rotations into new roles.

What kind of future could we build together? I don't know about you, but I'm optimistic that the future is bright. We will figure this out. And if in figuring it out, we hit a brick wall, my hope is that we are brave enough to call it, find another way, and celebrate that moment.