- The Launchpad
- Posts
- The Hidden Cost Keeping You Stuck in Your Career
On Today’s Launch
On today's launch, I'm talking about the hidden cost that keeps talented professionals stuck in unfulfilling careers: the sunk cost fallacy. This psychological trap makes us cling to past investments, even when it's time to move on.
Bonus content: I'll share three game-changing strategies for making a successful career pivot, plus real examples of people who made bold changes later in life. We'll also dive into a premium section about building a powerful network in a new city.
Previous launches you may have missed…
Want to know the real reason most people stay stuck in careers they hate? It's not what you think.
Let me tell you something that might surprise you: that voice in your head saying "I've invested too much to quit now" is lying to you.
Economists have a term for this: the sunk cost fallacy. But don't worry, I'm not going to bore you with textbook definitions.
Here's what it really means: we keep throwing good money (or time) after bad just because we've already invested so much. Ever sat through a terrible movie just because you'd already watched an hour? That's the sunk cost fallacy in action.
And trust me, it's killing your career potential.
I've spent years watching talented professionals stay trapped in unfulfilling roles. Not because they couldn't succeed elsewhere, but because they couldn't let go of their past investments.
Why We Can't Let Go
Ever wonder why it's so hard to walk away, even when you know you should?
Your brain is actually working against you here. We're wired to avoid losses at all costs – literally. Studies by Kahneman and Tversky showed that the pain of losing is psychologically twice as powerful as the pleasure of gaining.
Think about that for a second.
You're not just imagining it – leaving your current career path feels like you're losing something, even if you're gaining something better.
But here's where it gets really interesting: it's not just about the money or time you've invested.
Your career becomes part of your identity. It's how you introduce yourself at parties. It's what your family brags about during holidays. And let's be honest – it's what you've carefully crafted on your LinkedIn profile.
I saw this firsthand in Romania, where successful professionals would rather stay miserable in prestigious roles than "downgrade" to happier, well-paying trades like electrical work or plumbing.
The Cost of Staying Put
Let me ask you something: If you weren't already in your current career, would you choose it today?
Take a moment. Really think about it.
Because here's the truth: your past investments shouldn't dictate your future choices.
Need proof? Let me introduce you to some people who figured this out way later than you:
Julia Child didn't discover her passion for French cuisine until she was 50. Ray Kroc was selling milkshake mixers at 52 before building McDonald's. And Colonel Sanders? He was 65 when he started KFC.
My personal favorite? Bill Campbell. He switched from football coaching to tech leadership at 39 and became known as the "Trillion-Dollar Coach" for mentoring Steve Jobs, Larry Page, and countless others.
The Real Strategy for Pivoting
Now, I know what you're thinking: "Great stories, but how do I actually make the switch?"
Here's the truth about career pivots in 2024: the market might be challenging, but that just means you need to be smarter about your approach.
I'm going to break this down into three game-changing strategies that actually work.
1. The Multi-Variate Approach
Stop putting all your eggs in one basket. The most successful career pivoters I know do three things simultaneously:
They craft a compelling career narrative that connects their past experience to their desired role
They leverage their network (where 80% of real opportunities come from)
They limit their actual job search to a few hours a day, using the rest of their time to build skills
2. The Portfolio Strategy
Here's something most career coaches won't tell you: your past experience matters less than what you can prove you can do right now.
Start with small projects. Yes, even if they're unpaid at first. Every successful career pivotter I know started with a portfolio of work before they had the job title.
3. The Contract Bridge
Want to know a secret? Contract work is your best friend during a career pivot.
Why? Because companies that won't hire you full-time will often take a chance on you as a contractor. And once you're in, you can prove your worth.
I've seen countless professionals use 3-6 month contracts as stepping stones to full-time roles in completely new fields.
Your Next Move
Here's what I want you to do right now:
Look at your career decisions through a new lens. Ask yourself: "If I was starting fresh today, with all the knowledge and skills I have now, what would I choose?"
Remember: Your past investments are just that – past. They've brought you to where you are today, but they don't have to determine where you go tomorrow.
The market might be challenging, but that just means the rewards for making the right move are even greater.
So, what's it going to be? Will you let your sunk costs keep you sunk, or are you ready to chart a new course?
The choice is yours, but now you know what's really holding you back.
Your next chapter is waiting. The only question is: are you ready to turn the page?
Dumb interview questions (for real)
“If you won the lottery tonight, would you come into work tomorrow?”
My response to that would look something like this 👇
— — —
“If you had a choice between being invisible or flying, which would you choose?”
That’s a tough one, but if I could fly, think of the money I’d save on transportation.
Now I’m curious…
Would you rather have the ability to fly or be invisible? |
Did you enjoy this week's issue? |
About the Author
I’m James, Cofounder of Final Draft Resumes. I’ve been in the career consulting space for 13 years, and before that, I was a recruiter for AECOM.
I’ve helped thousands of job seekers, from industries like software engineering, IT, sales, marketing, manufacturing, and more generate job opportunities through well-written resumes that translate unique backgrounds into coherent narratives.
If you’re struggling with your resume for whatever reason, reach out - I just might be able to help!
If you’re more of a DIY person, then check out Resumatic, my free-to-try resume builder.
The Hidden Playbook for Building Your Network in a New City
Let me tell you something that might surprise you: moving to a new city without a network isn't a setback – it's your biggest opportunity for growth.
I know what you're thinking. "Easy for you to say. I don't know anyone here!"
Trust me, I get it. I've helped hundreds of professionals rebuild their networks from scratch, and I'm about to share the exact playbook that worked for them.
Here's the truth: most people approach networking in a new city all wrong. They either try too hard or barely try at all.
But there's a sweet spot in between, and I'm going to show you exactly how to find it.
The Secret Weapon You Already Have
Want to know the biggest mistake people make when moving to a new city? They completely ignore their existing network.
Yes, you read that right.
That network you've built over the years? It's not useless just because you've moved. In fact, it might be your fastest ticket to new opportunities.
Here's what nobody tells you: your current network is dying to help. They just need to know how.
Send a simple message: "Hey [Name], I've just moved to [City] and I'm looking to connect with other professionals in [industry]. Do you know anyone I should talk to?"
You'd be amazed how many doors this opens.
The LinkedIn Strategy Nobody's Using
Let me share something that might blow your mind: LinkedIn isn't just a digital resume – it's your secret weapon for uncovering hidden opportunities.
But here's the catch: you're probably using it wrong.
Instead of mindlessly scrolling through job posts, try this:
Search for "[Your City] + hiring + [Your Industry]" in the posts section. You'll find announcements that never make it to job boards.
Even better? Look for "I've started a new position" posts in your area. Why? Because someone just left a role that needs to be filled.
This is how you find opportunities before they're even posted.
The Local Community Hack
Here's something counterintuitive: the best networking doesn't happen at networking events.
I know, shocking right?
The real magic happens in smaller, more focused groups. Think industry-specific Meetups, professional workshops, or even local online communities.
But here's the key: don't just show up. Contribute.
I recently watched a marketer move to Austin. Instead of just attending events, she offered to help organize them. Within three months, she knew more people than locals who'd been there for years.
The Freelance Bridge
Now, here's a strategy that might seem counterintuitive: sometimes the best way to land a full-time role is to not look for one at all.
Let me explain.
Contract work isn't just a way to pay the bills – it's your foot in the door to multiple organizations at once.
Think about it: while other candidates are sending resumes into the void, you're actually working with local companies, proving your value, and building real relationships.
I've seen countless professionals turn three-month contracts into dream job offers simply because they were already there, doing the work.
The Application Game-Changer
Here's something most people miss: your location matters more than you think.
Update your LinkedIn location immediately. Why? Because recruiters filter by location first.
But here's the real trick: in your cover letters, don't just say you've moved to the city – share why you chose it.
Companies love candidates who are intentional about their choices. It shows commitment.
Your 30-Day Action Plan
Want to know exactly what to do next? Here's your game plan:
Message five people from your existing network today. Ask for introductions to their contacts in your new city.
Set up LinkedIn alerts for your industry + city combination. Engage with at least three posts daily.
Find and join two local professional groups – one in-person, one online.
Update all your professional profiles with your new location.
Reach out to three local companies about contract opportunities.
The Truth About Networking in a New City
Here's what nobody tells you: building a network in a new city isn't about collecting business cards or LinkedIn connections.
It's about being intentionally visible and consistently valuable.
The professionals who succeed in new cities aren't the ones with the most connections – they're the ones who approach networking with a strategy.
Remember: every successful professional you admire in your new city started exactly where you are.
The only question is: are you ready to put this playbook into action?
Your new network is waiting. Time to build it.