Take Two

From an accouting perspective, sunk costs are funds you’ve expended on a project that are not recoverable.  They’re gone.  Deal with it.  They ain’t coming back.

I was reading a post by Seth Godin today regarding the Amazon Kindle.  Side note- just not that interested in the Kindle.  I like to hold my books and actually turn pages.  Anyway, Seth says one reason he likes the Kindle is that it makes it easier for him to jettison a book at page 10 if it just isn’t happening for him.  He doesn’t have to look at the book on his shelf.  He also notes that sunk costs should be ignored in this case and, if there’s not interest, you should move on.

I mentioned a couple of days a go that it’s important to know when to let go.  That doesn’t just have to do with transitions but also with things that just aren’t working.  When we left our pastorate, it was perhaps the most difficult decision I’d ever made.  We had put a considerable amount of time and money into the church and really wanted to see something, anything, come of our efforts.  In the end, we knew what we had invested wasn’t coming back and it was time to move on.

I have watched people in business, in church, and in life throw good time/money after bad in the name of perseverance and persistance.  There’s nothing wrong with fighting the good fight but sometimes, you just need to move on.  There is a saying in the start-up world, fail early.  If you’re going to fail, do so.  Get it over with and then you can move on with your life.  The sunk costs are not coming back.  Don’t cry over spilled milk.

You get the picture.