Recognize Failure and Avoid the Sunk Cost Fallacy:
There's no shame in shooting for the moon and missing
Failing fast is one of the most overworked business tropes. The underlying motivation is for companies to take big risks with immense potential payoffs. To fail fast, the company must put sensors in place to recognize early if the risky move is panning out and worth continuing. In comparative mythology, the hero’s journey requires the protagonist to face and overcome adversity before they become worthy of winning. Biographers of business… Read More »Recognize Failure and Avoid the Sunk Cost Fallacy:
There's no shame in shooting for the moon and missing