Is Sunk Cost Sinking Your Business? #72
Sunk cost is the "perceived" cost that makes us refuse to step away from something we’ve spent time or money on, even though that’s the sensible thing to do.
It is also the reason most entrepreneurs are "stuck" in the business.
In this episode, business strategist Michelle Hon talks through why it happens and how it impacts your business, and shares strategies to overcome and use it to advantage.
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10 years ago, Michelle Hon started a blog from home and turned it into a more than half a million dollar revenue business. Today, she's an author, speaker, business coach, investor and she's leading 5 businesses, from F&B, publishing, digital marketing to education.
Michelle’s blog has generated more than 3 million views, and thousands of women-entrepreneurs have completed her business growth online courses and videos. Her story has been featured on Channel News Asia, Lifetime Asia, The Asian Money, Parenting World and more. In 2019, Zine named her one of the Top 10 Mom Influencers in the World.
She is the recipient for the Mentorship Award at 2022 World Women Organisation (WWO) Global Leadership Conference for the impact she has made.