The Anchor Alliance Article Archive

Sunk Cost Fallacy: What You Paid For Isn’t a Reason to Stay

Sunk Cost Fallacy: What You Paid For Isn’t a Reason to Stay

The sunk cost fallacy in business keeps owners pouring time into the file that won't close and cash into the office that won't pay.

sunk cost fallacy in businesssunk cost fallacyescalation of commitmentcognitive bias business ownersbusiness crisis decisionsSinking Sea7Seas framework
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What Phase Is Your Firm In? Age and Revenue Lie

What Phase Is Your Firm In? Age and Revenue Lie

What phase is my firm in? Read the eight elements, not the clock. Four questions separate a plateau from a crisis before you make the wrong move.

7Seasbusiness phasesShifting SeaStalling SeaSinking SeaSelling Seagrowth planningsuccession and exitpublic adjusting firm ownersfirst-party law firm owners
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