• Ep.177 I Deciding to Cut Ties…or Keep the Commitment: What Fuels Hard Decisions with Dr. Art Markman

  • Feb 20 2025
  • Length: 1 hr and 4 mins
  • Podcast

Ep.177 I Deciding to Cut Ties…or Keep the Commitment: What Fuels Hard Decisions with Dr. Art Markman

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  • Summary

  • How do you know if you’re being persistent or simply wasting your time?Dr. Art Markman joins us to break down how our brains process disappointment, why we misjudge sunk costs, and how different personality types handle setbacks. Whether it’s a business decision, a personal goal, or even a high school football career you should’ve walked away from sooner, this conversation will help you fine-tune your ability to know when to keep going—and when to move on. KEY TOPICSWhy the “never quit” mindset can backfire—and when it’s smarter to walk away.How the sunk cost fallacy traps people in bad jobs, relationships, and investments.Why overcommitting to work can be a sign of misplaced priorities.How urgency changes decision-making (and what that means for business owners). CHAPTERS00:00 – Intro: Defeating Bad Decision-Making in Life & Business00:49 – The Wildest Celebrity Family Secret?05:42 – How Self-Awareness Saves You from Bad Choices08:06 – Are You Setting Yourself Up for Disappointment?12:54 – Regret vs. Disappointment: What’s the Difference?15:17 – The Real Reason People Defend Bad Decisions17:39 – When to Push Through vs. When to Quit20:44 – The Sunk Cost Trap: Are You Stuck?24:23 – How Tragedy Changes Our Beliefs Instantly29:40 – Why Straight-A Students Struggle in the Real World32:57 – The Key Skill That Determines Career Success38:25 – The Most Underrated Advantage in Business44:41 – What Motivates You? You Might Be Wrong50:55 – The Secret to Making Better Financial Decisions56:06 – The One Question to Ask Before Any Big Purchase 01:00:19 – Art’s Top Decision-Making Tip for Business Owners01:01:30 – Where to Connect with Dr. Art Markman01:02:10 – Key Takeaways01:03:41 – Message from the Producer SIGN UP FOR OUR FREE WEEKLY NEWSLETTER CONNECT WITH US⁠www.decidedlypodcast.com⁠Watch this episode on YouTubeSubscribe on ⁠YouTubeJoin us on ⁠Instagram⁠: @decidedlypodcastJoin us on ⁠Facebook⁠Shawn’s ⁠Instagram⁠: @shawn_d_smithSanger’s ⁠Instagram⁠: @sangersmith Thank you to Shelby Peterson of Transcend Media for editingand post-production of the Decidedly podcast. SANGER’S BOOK:⁠A Life Rich with Significance: Transforming Your Wealth to Meaningful Impact⁠ SHAWN’S BOOK: ⁠Plateau Jumping: What to Change When Change Is What You Want⁠ MAKING A FINANCIAL DECISION?At ⁠Decidedly Wealth Management⁠, we focus on decision-making as the foundational element of success, in our effort to empower families to purposefully apply their wealth to fulfill their values and build a thriving legacy. LEARN MORE: ⁠www.decidedlywealth.com⁠ CONNECT WITH DR. ART MARKMANTwo Guys on Your Head Podcast: https://open.spotify.com/show/4WzHJK1SzAryo21JonpZoYLinkedIn: https://www.linkedin.com/in/art-markman-93aa6a22Facebook:https://www.facebook.com/ArtMarkmanPhD/X: @AbmarkmanBooks: https://www.amazon.com/stores/author/B005L52EOO/allbooks?ingress=0&visitId=4d56c521-f041-409e-9997-f782b942bf8b&ref_=ap_rdrBlog: https://www.psychologytoday.com/intl/blog/ulterior-motives Art Markman is the Annabel Irion Worsham Centennial Professor of Psychology, Human Dimensions of Organizations, and Marketing and Senior Vice Provost for Academic Affairs at the University of Texas at Austin. He has written over 150 research papers on topics including reasoning, decision making, and motivation. He brings insights from cognitive science to a broader audience through his blogs at Psychology Today and Fast Company as well as his radio show/podcast Two Guys on Your head. He is the author of several books including Smart Thinking, Smart Change, Brain Briefs, and Bring Your Brain to Work.
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