Uncommit.
Dear Essentialists,
Have you ever had a dream that outlived its usefulness?
Have you ever continued to invest time or effort in a nonessential project instead of cutting your losses? Have you ever continued to pour money into an investment that wasn't panning out instead of walking away? Ever been stuck in a cycle of "throwing good money after bad"?
An Essentialist has the courage to uncommit, no matter the sunk costs (see Ch.12 of Essentialism for more on this).
My guest on this week's episode of the What's Essential podcast, followed her dream to live and travel in Germany. Now she wants to leave but is worried about giving up her dream. This conversation, as you'll see, took a surprising turn. Listen and subscribe here.
Here's how to apply this today:
1) Think of a goal or a dream that has outlived its usefulness (20 seconds)
2) Ask, "If I weren't already invested in this project, how much would I invest in it now?" (20 seconds)
3) Explore, "What else could I do with this time or money if I pulled the plug now?" (20 seconds).
That's a minute that could result in a big time-rebate.
Thank you, really, for reading.
Greg
p.s. A shout out to Em_arel who wrote a review of the podcast on iTunes: "Wow! So grateful for the recommendation from a colleague to read your book. Naturally, it led to my signing up for your podcast and newsletter. These resources are game-changers for how I'm intentionally planning and living life moving forward. Thank you!"
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???????????????? ???? ?????????? ?????? ???????? ?????????? ???????? ?????? ???????? ?????? ?????????????????? ?????????????????? ?????????????? ? That witticism summarizes the dilemma of this issue. There is often a gap between what we think and what we do. The psychologist Leon Festinger used the term ?cognitive dissonance“ to describe our state of mind when our actions are not consistent with our beliefs - for example when we make a decision that proves to be wrong, but we don‘t want to admit it. This plays a crucial role when you trade off consumerism against sustainability. We see only what we want to see, and ignore everything that contradicts our view. We look for arguments that reinforce our position. You see this often in business decisions, rarely someone asks how much would I invest in it now after having invested substantial money, not to mention pull the plug - as known as the sunk-cost bias. The more we invest in something, the harder it is to let go. To overcome this dissonance you simply have to change your behavior or your attitude. Or in case of business decisions start with a greenfield approach, instead of continuing with business as usual.
Minister, Author, Educator
4 年Greg...your thoughts always serve to re-center my thinking and my actions.
Manager at TGI
4 年Maybe the answer lies in a version of The Ship of Theseus paradox as rendered in “Heroes and Villains”.?Only Fools and Horses.? “Meanwhile, at Sid's cafe,?Trigger?is telling everyone in earshot about a medal he received from the local council for using the same broom for twenty years, despite the fact that it has actually had?17 new heads and 14 new handles?in that time”.? https://en.wikipedia.org/wiki/Heroes_and_Villains_(Only_Fools_and_Horses) Point here being that in all events we have some version of inclusion and continuity regardless of the particular outcome.?So, if the old broom does not sweep appropriately, “fix the broom”.
"Faith Without Works Is Dead" - Music Producer By Default. The Results Isn't Something That Should Concern You As Much As They Should.
4 年Edison failed thousands (hundreds) of times. this is logically true & rational but it could also mean that you're leaving your convictions behind. which is far worth the struggle than merging into something else that could seem right at the time.