Title: Why Perseverance is important but might not be such a good thing...
Headings: Why Perseverance is important but might not be such a good thing...
Why Perseverance is important but might not be such a good thing...
Why is Perseverance Important?
Is Perseverance a quality?
The Sunk Cost Fallacy
Avoiding Risk vs. Seeking Reward
We favour ‘avoiding loss’ rather than ‘seeking gain’.
Can we use Loss Aversion to our Advantage?
The point I am making here is that it was f**king hard to get in and even harder to get through it.
This works well provided it is CONSCIOUS and we are aware of what we are doing.
Southern Rail Strikes – Loss Aversion and Skills Redundancy
Pilots, Taxi and Truck Drivers will be next…
The risk equation changes when you take an individual’s life out of the picture.
The Sunk Cost Fallacy creates Mental Prisons
What actually happens is a slow decline in effectiveness.
You maximise on efficiency whilst sacrificing effectiveness.
Boundaries
Decision-Points
The quality of our lives are determined by the quality of our questions.
Tony Robbins
Creating a Remarkable Career
Practice what you Preach
There are many paths to ‘success’.
Your future hasn’t been written yet. No one’s has. Your future is whatever you make it. So make it a good one.
Doc Brown – Back to the Future: Part III
Beware of the Perseverance Value
I am driven by the values of determination and perseverance which puts me at great risk of the sunk cost fallacy.
But realising that – hopefully means I can watch out for it – and make sure it doesn’t put me on autopilot to a place I don’t want to go.

Content: This is hardwired into us by our evolution. Organisms that placed a higher priority on avoiding threats than on maximising opportunities tended to survive. This instinct was rewarded by survival and then passed on through the gene pool. The cumulative impact of this behaviour is that loss aversion is still a very powerful driver of human behaviour. When I first started my own business, I delivered a number of talks at events that were put on by industry bodies. When the event was free to attend, turnout was usually 50% of the numbers that signed up. When the attendees had to pay, even if it was as little as £20, the attendance ratios shot up to around 70%. When I spoke to the organisers they said that the money didn’t generate a great deal of revenue, they charged because they wanted to create a commitment to attend. They were deliberately using ‘loss aversion’ to drive up attendance of their events. It seems strange but when you realise our decision-making is driven by emotion, not logic, you can start to see why they chose to charge.