In our journey to build successful careers, it's easy to fall into the sunk cost trap. You've invested time, money, and effort into your current career path, and the thought of changing directions can feel overwhelming. However, clinging to these investments solely because of what you've already poured into them can prevent you from pursuing what you truly desire. Authenticity at work includes pursuing roles and projects that align with your strengths and desires, ultimately bringing you fulfillment. Your desires can evolve and change, and when they do, you should have the freedom to pursue them, even if it means pivoting or shifting.
Understanding the Sunk Cost Trap
The sunk cost trap is the tendency to continue investing in a decision based on the cumulative prior investment—time, money, effort—despite new evidence suggesting that future costs outweigh the expected benefits. In our careers, this trap often manifests as a reluctance to change direction because of past investments. You might feel obligated to stick with your current career trajectory simply because you've already invested so much into it. This mindset fuels your "shoulds"—the internal and external expectations that keep you on a path that no longer serves your true career aspirations.
Shifting from “Should” to Authenticity
The “shoulds” in your career often stem from external expectations—what you believe you “should” do based on societal norms, family expectations, or may be based your past decisions. These “shoulds” can become chains, holding you back from exploring roles and projects that align with your true passions and values.
To move beyond this, it's crucial to distinguish between what you think you ‘should’ do and what you authentically ‘want’ to do. Reflect on your career goals, values, and passions. Ask yourself:
What roles and projects excite me?
What kind of work environment allows me to thrive?
What impact do I want to make in my career?
Personal Story: Business and Career Decisions and the Sunk Cost Trap
Recently, I faced a decision in my business that perfectly illustrates the sunk cost trap. I was contemplating a software system change and spent an enormous amount of time agonizing over how much time and money we had already invested in our current system. The truth was, the new system would allow us to combine multiple systems into one CRM, leading to increased efficiency and saving us at least 60% annually.
Despite the clear benefits, I found myself hesitating, held back by the investments we had already made. It was a classic case of the sunk cost trap. Eventually, I decided to make the switch, and the results are already transformative for our business.
This experience also reminded me of a time in my corporate career when I wanted to shift out of client service in public accounting. I spent years agonizing over the time and money spent getting my education and obtaining my CPA license, the countless busy season hours, the experience I had garnered, the relationships I had built, and the fact that I was one level down from Partnership. The truth was, I no longer wanted a career in client service. I still believed in the purpose we served as public accountants, but I wanted to pursue it from a different angle. Shifting or pivoting did not mean that my experience and investment would become useless. In fact, I was able to leverage them in my new role. Once I pivoted to an internal role, I began to feel fulfilled again. The purpose remained the same—protecting the interests of investors and stakeholders—but the role was different.
(For those of you who don’t know me personally, hopefully, I didn't confuse you. I am a multi-hyphenate, and my career includes dual roles in corporate and entrepreneurship at the time this article is written).
Making the Connection to Our Careers and Authenticity
So, how does this apply to our careers and authenticity? Just like with the software system or the example from my corporate journey, we often hold on tightly to our career paths because of the time, money, and energy we've invested. But being authentic means allowing yourself the freedom to pivot and pursue what truly resonates with you.
Authenticity at work isn't just about how you speak, dress, or wear your hair. It's also about aligning your career choices with your true self. This includes pursuing roles and projects that resonate with you on a deeper level. You are allowed to evolve, change course, and redefine what success means for you.
When you align your career with your authentic self, you unlock a sense of fulfillment and purpose. This might mean taking on new challenges, exploring different industries, or even starting your own venture. The key is to follow what you soulfully desire, not what you feel obligated to do—especially if past investments are the main reason for staying the course. Don’t let the weight of past investments anchor you to a path that no longer serves you. Embrace your authentic self, pursue your soulful desires, and create a career that truly reflects who you are. It's never too late to redefine your path and show up authentically at work.
Your career is a journey, not a destination. It’s okay to reassess and realign your path as you grow and evolve. By avoiding the sunk cost trap and embracing authenticity, you create a career that not only brings success but also joy and fulfillment.
By moving beyond the sunk cost trap and focusing on what truly resonates with you, you empower yourself to build a career that’s not just successful, but deeply satisfying and authentic. It's your journey—make it a bold and soulful one.
You can connect with me at www.georgiawolfesamuels.com or https://www.instagram.com/georgiawolfesamuels/ on Instagram.
Until next time, stay bold and confident.