📩 Recognize Failure and Avoid the Sunk Cost Fallacy

Failing fast” is a common concept in business, encouraging companies to take risks with potentially high rewards.

This approach involves quickly recognizing whether a risky move is succeeding and worth pursuing further. In the hero’s journey archetype found in comparative mythology, protagonists must overcome adversity before achieving success. Similarly, biographers of business leaders often frame their failures as essential steps toward eventual success.

David Asch wrote a powerful article about while successful individuals may openly discuss their failures, job candidates should approach this topic cautiously during interviews.

Ultimately, while failing fast is an attractive concept in theory, recognizing failure and responding appropriately often takes longer than expected, requiring a balance between persistence and adaptability in navigating the complexities of business.

Read the Entire Article:

Recognize Failure and Avoid the Sunk Cost Fallacy

See you soon.
Thaisa Fernandes

Follow us on Instagram and LinkedIn