Have you ever been to Las Vegas or maybe even Atlantic City?
If so, you’ll recognize what I’m about to share with you …
See, these 2 cities are all about gambling … people flock there hoping to spend a little, and win a lot.
But, almost anyone who has ever been there is sure to tell you it’s not like this at all. (At least if they’re being honest with themselves and you.)
You’re more likely to spend a lot, and win a little. Only to spend it again.
Why is this so? I mean, you can walk away at any time, right?
Yes, of course. You’re not there as a prisoner.
But people don’t walk away easily, do they?
No.
They keep spending because they’re stuck in what’s called the ‘gambler’s trap’ – also known as the ‘sunk cost fallacy’.
This is simply a fancy term for throwing good money after bad.
It’s common for us to think that we have to get our money back the same way we lost it.
But let me ask you … how often does this really work?
Sure, I get that our emotions get the best of us … and we want to ‘finally make it work’ … even though, the longer we ‘sit at the table’, the deeper in the hole we get.
We see this all the time in business, don’t we?
It’s more prolific than any of us would like to admit.
Chances are, there’s a ‘gambler’s trap’ in your business right now. If you’re like most CEOs … it’s conveniently out of sight, out of mind …
But then again, you’re reading this right now, searching for that little extra edge, right?
So with that being said, isn’t it time to stand up from the table and move onto a more lucrative action?
It’s not like you’re chained to it or anything.