Are You Falling Victim to the Sunk Cost Fallacy?

Are You Falling Victim to the Sunk Cost Fallacy? - E116

Highlights from this episode:

Are You Falling Victim to the Sunk Cost Fallacy? (00:42)

Office Talk: Interviewing (17:50)

In today's episode we are talking all about the Sunk Cost Fallacy. There are a million and one places where this pops up in our day to day lives but one place it can really affect you is in your practice. So many times we are tempted to hang on to a staff member because we've already put so much time, effort, and energy into training them, working with them to be better, etc. and even though we aren't seeing any significant change, it's hard to actually cut ties and get rid of them because we feel like we are throwing away everything that has been spent thus far. That is the wrong way to go about it my friends! Listen in to this segment and I'll break it down for you. Enjoy! (00:42)

In our Office Talk today, we are talking about interviews. I have found that in terms of effort, energy, etc. an interviewee will never be better than on their interview day. That is their time to convince you to hire them so they are pulling out all the stops. So, make sure you take that into account when you are making hiring decisions and if that is one of the things that is lacking, maybe they are not the right person for your practice. (17:50)

Join in the fun and subscribe to the podcast to keep up with all the great content coming down the pipe! For exclusive content, be sure to register your email on our website and I will be sending out newsletters and other great bonuses as we go. I love getting feedback, questions, suggestions, etc. so contact me at www.theultimateod.com, on social media (click here for -> Twitter, Instagram, Facebook) OR, just shoot me an email at drlillie@theultimateod.com and I’d be happy to chat!