There is comfort in the advice of others. Good advice without execution is just that, advice. “Think Like a Freak” goes into greater depth about the Sunk Cost Fallacy. This concept is a force that many of us feel on a daily basis. By taking an in-depth look at where we spend our resources, and optimize that expenditure towards our goals; hopefully we can come closer to achieving our goals. See also “Rich Dad, Poor Dad” and “Think, and Grow Rich” because both works point out how our resources include much more than just money. Time is our most precious and valuable resource. We can’t check our account for how much we have left, and there’s no way to earn more.
- “People who take responsibility for their lives will examine what they did wrong and try to improve rather than blame others.” ~Brad Klontz (Here are some more contributions by Brad Klontz)
- Sunk Cost Fallacy: “We think the resources we’ve put into something should help determine whether we keep it going. This sets us up for major regret later. The only question that matters is whether that next dollar should be spent elsewhere.”
- Own up to your own failures. Then move on by putting your head down and working hard to prove yourself again and again.
- Innovation is about adapting ideas so they apply to your problem or opportunity.