189: How These 2 Words Nearly Derailed My Entrepreneurship Journey - a podcast by Mike Woo-Ming, MD MPH Physician-Entepreneur

Sunk costs can have a big impact on new entrepreneurs, especially those who spent blood, sweat, and tears in another career. Sunk costs can lead entrepreneurs to continue working on a new venture even when it is no longer feasible. Or continuing to invest time and money in a flailng project, despite all the warning signs.

On this episode we discuss the awareness of the sunk cost fallacy so that you can make decisions based on what makes sense in the present, rather than what has happened in the past.  I share my own struggles with sunk costs, and 5 ways you can better overcome it to become a better entrepreneur.

 

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