author (born 1977)
Greg McKeown, (born in London, England, in 1977) is a public speaker, business thought leader, consultant, and a New York Times and Wall Street Journal best-selling author. He is also the founder and CEO of THIS, Inc., a leadership and strategy design agency in Silicon Valley. McKeown is a popular blogger for the Harvard Business Review and LinkedIn’s Influencers group, and his writing has appeared in, or been covered by, Fast Company, Fortune, HuffPost, Politico, and Inc. Magazine.
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Why are adults so much more vulnerable to the sunk-cost bias than young children? The answer, he believes, is a lifetime of exposure to the “Don’t waste” rule, so that by the time we are adults we are trained to avoid appearing wasteful, even to ourselves.8 “Abandoning a project that you’ve invested a lot in feels like you’ve wasted everything, and waste is something we’re told to avoid,” Arkes said.9
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When we are unclear about our real purpose in life – in other words, when we don’t have a clear sense of our goals, our aspirations, and our values – we make up our own social games. We waste time and energies on trying to look good in comparison to other people. We overvalue non-essentials like a nicer car or house, or even intangibles like the number of our followers on Twitter or the way we look in our Facebook photos. As a result, we neglect activities that are truly essential, like spending time with our loved ones, or nurturing our spirit, or taking care of our health.
At one point, we had become concerned with how much screen time had crept into our family. Between television, computers, tablets, and smart phones it had become just too easy for the children to waste time on nonessential entertainment. But our attempts to get them to change these habits, as you can imagine, were met with friction. The children would complain whenever we turned the TV off or tried to limit their “screen time.” And we as the parents had to consciously police the situation, which took us away from doing things that were essential. So we introduced a token system.9 The children were given ten tokens at the beginning of the week. These could each be traded in for either thirty minutes of screen time or fifty cents at the end of the week, adding up to $5 or five hours of screen time a week. If a child read a book for thirty minutes, he or she would earn an additional token, which could also be traded in for screen time or for money. The results were incredible: overnight, screen time went down 90 percent, reading went up by the same amount, and the overall effort we had to put into policing the system went way, way down. In other words, nonessential activity dramatically decreased and essential activity dramatically increased.
A second reason why it is hard to choose what is essential in the moment is as simple as an innate fear of social awkwardness. The fact is, we as humans are wired to want to get along with others. After all, thousands of years ago when we all lived in tribes of hunter gatherers, our survival depended on it. And while conforming to what people in a group expect of us – what psychologists call normative conformity – is no longer a matter of life and death, the desire is still deeply ingrained in us.7 This is why, whether it’s an old friend who invites you to dinner or a boss who asks you to take on an important and high-profile project, or a neighbour who begs you to help with the school cake sale, the very thought of saying no literally brings us physical discomfort. We feel guilty. We don’t want to let someone down. We are worried about damaging the relationship. But these emotions muddle our clarity. They distract us from the reality of the fact that either we can say no and regret it for a few minutes, or we can say yes and regret it for days, weeks, months, or even years.