The Sunk Cost Fallacy describes a psychological phenomenon in which we hold on to decisions because we have made a high initial investment and for this reason do not want to walk away from it. The saying goes, “I’ve already put so much into it, I can’t back out now.”
The company is like an organism. The organism must be kept in motion so that blood can circulate and all the important organs are well supplied. It is the same in a company. The company must not stand still. To achieve this, all top performers should be integrated into the cycle of constant movement and improvement. Ask regularly where there is room for improvement, and make this system part of your corporate culture. In the end, this will ensure your survival during the crisis and positive cash flow.