Mission & Mindset
Ever held onto something that's no longer serving you… And it's keeping you stuck, but for some reason, you can't break free? Why?
Because you've invested SO much time, energy, or money into it… and admitting it was a mistake feels like a punch to the gut.
Welcome to the "Sunk Cost Fallacy."
And when you fall into the trap… you usually don’t realise until it’s too late. Not too long ago, I allowed myself to get sucked into the DRINKING craze (just around the 2nd COVID lockdown). It was fun. It was exciting. It was a great distraction.
And I made a LOT of memories, until I didn’t. I ended up losing MYSELF BIG in the year that followed, where I watched myself become a less motivated, focused person and I would often not remember periods of time when I was drinking (what do they call that?! Blacking out but I wasn’t passed out). Scary on reflection. I made a stupid choices. I felt foolish. And it’s hard for me to write about this. I sunk SO much time into LIVING IN THE MOMENT, so naturally, it was hard to dig myself out of the hole…
But I did dig myself out...I started refocusing my energy and attention on something that I was actually GOOD at and that I truly cared about (myself and my business). Spoiler alert: it didn’t end well for my social life and I lost a few friends over it.
Our brains are hardwired to avoid loss, so when we've sunk our teeth into something, we're more likely to keep going rather than cut our losses.
But here's the kicker: Sunk costs are irretrievable. You can't get them back, no matter how hard you try. So, what can you do to escape this trap?
1) Recognise that your past investments don't determine your future choices.
Every day is a new day.
Use the info you’ve got to make the best decisions you can for your future.
Let go of any emotional attachments.
Reflect. Do the work.
Learn the lesson.
Shift your focus from what's already spent to what lies ahead.
And make your decision on if you want to continue on or not from a place of intention and alignment.
2) Give yourself permission to change your mind.
You’re not a flip-flopper. You’re not a failure.
You have new information, and you’re now making a more informed decision.
Winners adjust course when they need to.
3) Consider the opportunity cost.
This is a BIG one.
By holding onto something that's not working, you're preventing yourself from exploring better alternatives.
Life is too short to stay stuck in a trap.
Especially when you hold the key to unlock it.
— Nikki Xx
P.S. Is there anything in your life that you need to take a deeper look at? If so, sooner is always better than later.
P.S.S. Am I done with drinking? No way. I still have a few drinks on the weekends and enjoy it... but I'm certainly not going to make that same mistake twice.
