We see startups and "stay ups" all the time, reaching a point where their costs are escalating as they work to get their product or service to market. Sometimes the issue is insufficient validation at the early stages. Other times, it can be that new information comes to light that wasn't previously available - and it is a complete game-changer. The trouble arises when there has already been significant investment in taking the current route. Those sunk costs make it incredibly expensive reverse the engines or take a new tack.
At times like that, it's helpful to think of the current way forward as a metaphorical sinking ship. No matter how much you've invested, you're better to get out with your life (and that of your product or service), than to hang on because of your sunk costs.
If you've sunk a lot of time and effort into your business, and evidence is making the way forward less evident, rather than clearer, we're here to help.
Megann and Steve, Partners in PANOPTIKA, are working for our clients every day to help them see everything they need to know to make better decisions in their complex business environment.
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