Why are you STILL doing that? Even though it's not working? Honestly, get over it. In this episode, we wrestle with a raspberry seed stuck in Vix's teeth, a tragic lack of gin (due to illness), and why human brains are wired to screw us over. We dig deep into the sapien’s cranium, pull out the entrails of the sunk cost fallacy, and examine them closely – then we show you how to avoid wasting even more time and money and effort than you already have. Oh, and you'll find out how and why Vicky wasted THOUSANDS of pounds because her brain tricked her. She sets fire to money so you don't have to.
Key Takeaways:
[2:05] Vicky went camping and a rampaging badger chased after her. They’re sturdy creatures.
[7:05] Have you ever bought something and regretted it?
[10:30] Sunk cost fallacy drives poor life choices, and terrible government and business decisions.
[10:50] Vicky shares her first sunk cost fallacy experience in her business.
[16:40] Listing the benefits of your products and services is a good thing, but don’t forget about the ‘if you do nothing…’ option. Fear of staying the same scares a lot of people .
[20:35] Your marketing needs to be at a point where people don’t think of your product as a cost. They need to think, “I need this.”
[22:15] Wasting money is painful.
[25:40] Don’t put up with an asshole client just because you’re in the process of doing work for them. You don’t get that time back!
[27:25] As rational as we think we are, we actually don’t end up seeing our own biases.
[30:30] Are you measuring, testing, and looking at your numbers carefully?
[32:35] Like this podcast? Please leave us a review!
Mentioned in This Episode:
Vicky’s Business For Superheroes Book
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