Committing to a goal can take a lot of time, effort and resources.
And the more we put into achieving the goal, the more committed we can become.
So much so, that we can lose perspective of whether continuing is actually worthwhile.
If you’re too far into an endeavour, rather than focusing on how much it’s cost you, focus on the net benefit you could receive from continuing.
If the potential gain is less likely or less substantial than first envisioned, you must consider if it’s worth continuing (especially if continuing will require further costs).
This decision-making fallacy is captured in the expression “in for a penny, in for a pound”.
Maybe we could popularise the expression “in for a penny, hold onto the pound”?
It’s not as catchy. But it’s a more useful principle.
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