How To Change Course Without Regret

This week I have been deep in enrollment for the next cohort of Accelerate, and as I've spoken with women considering a shift in their careers, one concern comes up again and again: will the time they've spent on their current path be wasted? The question always takes me back to a conversation with a South African client of mine, and to what I learned in my Econ 101 class.

My client, we'll call her Danielle, was considering pivoting from law into another field. Danielle had spent twenty years studying and practicing law in one form or another, so she feared "losing" that decades-long investment. That fear made it hard for her to decide what came next.

Those twenty years are what economists call a sunk cost: an investment you're not getting back no matter what you do.

A Sunk Cost

Here's how it works. If I go to the movies and realize thirty minutes in that I'm watching one of the worst films I've ever seen, I have two options: leave, or stay and suffer through the next ninety minutes. (In all honesty, teenage Obenewa probably would have exercised a third option, gathering up her smuggled snacks and sneaking into a better movie, but we're grown now, so we don't speak of such things.)

Many people would reason that they bought the ticket, so they should stay. But whether they stay or leave, there is no refund; the ticket cost is gone. The more useful question is whether they want to keep investing in their original choice. In the case of a bad movie, that continued investment is clearly defined: it's another ninety minutes of your life, which, by the way, you'll still never get back. In our careers and lives the calculation can be more challenging.

Does this sound familiar?

Why We Stay

I've worked with many individuals and organizations who know their current course isn't getting them where they want to be. It could be a role, a career, a city, or even a relationship that no longer serves them, and even though staying costs them their health, their joy, or new opportunities, they stay. Why? Because they feel they have invested too much time, effort, and energy to change course. That is the sunk cost fallacy: letting what you've already spent decide what you do next.

Three Things to Consider

If you recognize yourself in this scenario, here are three things to hold onto.

First, notice when you're making a decision based on the past. You can't change what you've already spent, but you can absolutely change what you invest in next.

Second, remember that when it comes to experience, there is no such thing as a loss. When you change direction, the skills, relationships, and lessons you've gathered along the way come with you. Walking away from a sunk cost doesn't mean starting from scratch; it means you arrive at your new beginning with a fuller set of tools.

And finally, count the cost of not changing. What are you giving up by remaining in a space that no longer serves you?

For Danielle, the real question was never what twenty years in law had cost her. It was what the next twenty would. If you'd like some support as you consider a change, there is still time to join this cohort of Accelerate.

Book an alignment call today and let's talk about what's next for you.