Sunk Costs

2002 F150
The Beast in It’s Natural Environment

My trusted pickup was feeling rather loose on the highway so I took it to my trusted shop. Turned out the front end was in rough shape. Along with some servicing, brakes and odds & ends it was just over $2000.

Two weeks later I pulled out from a lunch meeting and the transmission failed.

Rough estimates were $2000 for a used transmission installed, $3000 for a rebuilt and $4000 for brand new.

Now, I need to tell you that my trusted pickup (sometimes referred to as The Beast) is a 2002 Ford F150 with 370,000 km on it.

If I had been asked a month prior if I would rather spend $4k plus on repairs or put those same dollars toward a new(er) vehicle, I would have opted for the latter.

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Fear-Driven Decision Making

Fear-Driven Decision Making“I have personally seen very successful businesses destroyed by their owners making a
sequence of fear-driven decisions. I have seen none destroyed by courage.” -Dan Kennedy

Dan Kennedy is a brilliant and very successful direct marketer, famous in both the offline and online marketing worlds. I had the privilege of seeing him live back in 1997 and I still have the notes. I’m currently reading yet another one of his books.

I think his observation applies to more than just business.

It’s not that fear-driven decisions will necessarily destroy your life, as in kill you. But they may well suck the joy out of your life. And the adventure. And the whole point.

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