Whether in business or in personal life, we can all look in the past and say that we’ve been in situations where we’ve wasted money, time, or energy on things that did not end up being worthwhile. Was there a moment during that situation when you thought about backing out before you sank even deeper?
See Also: Sunk costs: How should they affect your future business decisions? Variable vs Fixed Cost Replacement Costs Joint Costs Service Department Costs Ten In-House Secrets for Reducing Your Company’s Legal Costs Capital Budgeting Methods Sunk Cost Definition What is sunk cost? A sunk cost is a cost that has been incurred and cannot be
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