Short YouTube video (short-form) where Tim Hubbard and another speaker discuss recognizing sunk costs—time and money—and applying that thinking to team decisions and real estate investments, urging realistic reassessment rather than continuing to pour resources into failing programs or deals.
One last thing you might want to.
Ask yourself is.
Are you doing something in a certain way just because you've.
Already invested a lot of time into it? Maybe it's a program.
You thought was.
Going to be really helpful, but it.
Turns out it's not. Or maybe.
It'S someone on your team that's not really working out and you've invested a whole lot of time and no matter what you.
Do, things.
Just aren't working out. You can't move them to a new spot.
We need to think.
About these things. We need to be realistic.
Same goes for.
Our real estate investments.
Hopefully you ran.
Your numbers really well in the beginning and you eliminated most of the risk.
And you haven't.
Found yourself in a.
Deal that.
Doesn'T really have light at.
The end of the tunnel. But if you are in one of.
Those places, you really need to consider, is this something.
I want to continue putting my money into? Is this something I want to continue putting my time into? In economics, we call these sunk.
