Many of us suffer from a sunk cost bias.  The feeling that because we’ve already committed much time and effort to something, we should continue to apply equal effort.

 

While perseverance and general stickability is to be admired, it can also have a darker side.

 

Continuing to apply effort to something that has no chance of working isn’t going to make it work. The truth, in these cases,  is a sunk cost bias will deplete us of energy, motivation and funds.  This bias can become toxic.

 

When to Pivot Instead

Sometimes we just need to pivot instead.  Try something new.  Try to approach an old problem with a fresh mindset.  Try to adapt our own behaviour.  Try to take ourselves out of our comfort zone.

 

We may even need to just start all over again.  A blank page.  No judgements.

 

We can do this by being mindful.  By taking the time to do some regular self care and internal reflection.  By thinking about what we truly crave and how we may get it.

 

Almost universally, a sunk cost bias will be costing us somewhere.  We can stay ahead of the curve by trying to minimise where this happens.  By doing so, we will set ourselves up to live our best lives and be our best selves.

 

 

 

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