EP 95 | The Sunk Cost Fallacy: Why Smart People Make Expensive Mistakes
In this episode:
In this solo episode of Your Project Shepherd, host Curtis Lawson dives into a concept that affects homeowners, builders, and business owners alike: the sunk cost fallacy. This psychological trap keeps people committed to bad decisions simply because they’ve already invested time or money. Curtis shares real-world examples from construction projects, hiring decisions, and personal experiences to highlight the importance of recognizing when it’s time to cut your losses and move on.
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What is the sunk cost fallacy, and why do we fall for it?
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Real-life construction horror stories where homeowners stuck with bad builders for too long.
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The financial and emotional toll of staying in a doomed project.
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How the sunk cost fallacy plays out in business decisions, hiring, and subcontractor relationships.
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Tips for recognizing when it’s time to move on from a bad investment.
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Bonus:
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Curtis shares personal insights into how he’s dealt with the sunk cost fallacy in his own work—especially when it comes to hiring decisions. He also teases a future episode on ensuring builders work with tradespeople who can actually execute high-quality projects.
How to get in touch:
Have an idea for a future episode? Curtis would love to hear from you! Reach out via:
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Instagram, LinkedIn, Facebook, or YouTube DMs
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Email: podcast@yourprojectshepherd.com
Let’s keep the conversation going!
About Our Guest:
This episode features Curtis Lawson as a solo host. Curtis is the founder of Your Project Shepherd and a seasoned construction consultant who helps homeowners avoid costly mistakes. With years of experience in the industry, Curtis has seen firsthand how poor decisions—driven by the sunk cost fallacy—can derail projects and cost homeowners thousands. Through this episode, he aims to help listeners make smarter, more informed choices.
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