We’ve all been there — pouring time, money, and effort into something that, deep down, we know isn’t working. But we keep going anyway because we’ve already put so much into it.
I heard a brilliant metaphor the other day: If you dig a hole and it’s in the wrong place, digging it deeper isn’t going to help.
That’s such a simple yet powerful way of explaining the sunk cost fallacy — the cognitive bias that convinces us to stick with something just because we’ve already invested so much into it. Even when we know it’s not going to work, we keep at it, hoping that more effort or resources will somehow turn things around.
The truth is, sometimes you need to take a step back and ask yourself:
- Am I continuing to invest in something that I know, in my heart, isn’t going to work?
- Are the numbers telling me that this isn’t the right path — but I’m pushing forward anyway because of how much I’ve already invested?
If the answer is yes, maybe it’s time to stop digging. Figure out where the hole should be and start fresh.
Letting go of something you’ve invested heavily in isn’t easy — but it’s often the smartest and most strategic move you can make. Instead of throwing more energy into a lost cause, give yourself permission to pivot. You might just find that starting over gets you to success faster than doubling down on a mistake.