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How do you know when to walk away?

Let’s say you are trying to crowdsource funding for a new product using a platform like Kickstarter to attract and secure investors.

It’s a nervous wait, and if fundraising doesn’t go to plan, there are two paths to follow.

You can let things run their course, deciding not to invest more resources into the process, or you can make changes to the product to try to capture new interest.

But what factors influence that decision?...

I was watching the popular TV series Lego Masters, and something one of the contestants said really got my attention.

Welcome to Focus On, a focus on a specific topic, business or issue for the month.

So what did she say that captured my attention?

“I’m just terrified I have spent this time building something that now won’t be used. I don’t want that to be wasted building time”.

This is the “sunk cost fallacy” - the predicament we find ourselves in...