One Thing: Day 523: Your Sunk Costs
Day 523: Your Sunk Costs
Yesterday I was explaining how I get that king size menthol cigarette feeling in my bumhole… and why you get fooled by authority figures like Elizabeth Warren who called Elon Musk a freeloader for only paying $21 BILLION dollars in taxes.
Speaking of freeloaders…
My Aunt was actually my grade 3 art teacher.
Here’s how it went at Christmas time one year when she wanted us to draw a tree.
My Aunt: Great job drawing your Christmas tree, Karl… now draw some balls on
Me: *draws balls*
My Aunt: NOT THOSE BALLS, KARL!
In other news…
More quotes from my Aunt:
“When I die, I want to go like my Grandma in her sleep… not screaming like the
people in her car.” ~ My Drunk Aunt
Your ONE COACHING THING Today Is:
Speaking of commitment…
It’s three days before Christmas and my wife would likely prefer I take some time
off… welcome to my world of being obsessed :o)
You could also think of this ‘sunk costs’ message as ‘Escalation of Commitment’…
We often invest far more than we should into things that we’ve sunk time, money
and commitment into…
Example: You bought tickets to the baseball game… but you have a meeting at the
same time that’s more important.
Because you spent money on the tickets… you’re far more likely to go to the game
and skip the appointment.
People do this with assets….
They own a house and it declines in value…. They fight tooth and nail to make their
money back and not lose money on that individual piece of real estate.
Would that time in effort been far better served in their business to create the same
plus far more value?
Your coaching client has sunk money into a line of products that are not selling…
rather than move them out… they fight tooth and nail to get their money back out on
that specific product . commitment.
People often don’t make profitable decisions because of this Sunk Cost Fallacy /
Escalation of Commitment.
Help your high-end clients understand this insanely expensive and common pattern.
You heard it here first.
Now, pick up the phone and go help someone.
Obsessed with your business coaching success,
Karl Bryan aka King Karl
PS. Sometimes good things fall apart so better things can fall together. ~ Marilyn Monroe
PPS. Marriages break up from lack of money… over lack of love X 100.
Business failures lead to destruction, addiction, depression, anxiety, suicides, and unfortunately, far more.
As good business coaches we save marriages, save families, save kids from self-destruction… we save lives!
A true life of purpose.
PPPS. If you’re looking for a proven system to follow for your coaching…. I created Profit Acceleration Software™ as well as our Digital Acceleration Software™ and high-end step by step training to support it…
It’ll teach you ‘How to find any small business owner $100,000 in 45 minutes without them spending an extra dollar on marketing or advertising.’
Imagine finding your annual $12,000 to $50,000 coaching fees BEFORE you started coaching your new clients?! And a proven coaching system created for you to follow with your new coaching client.
Reply to this if you want to start following a proven coaching system.
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Entertaining, Informative, Uncensored, Unedited:
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Karl Bryan, creator of Profit Acceleration Software™
Karl is the Founder and Editor-in-Chief of The Six-Figure Coach Magazine and Chairman of Focused.com, home of the largest private community of Business Coaches (24 countries and counting) in the world. His goal is straightforward… to help serious coaches/consultants get more clients. Find out more at focused.com