One problem for failed entrepreneurs is that many will not acknowledge failure and thus avoid exiting the business despite escalating losses.

Question

Quizplus · Accepted Answer

This is a common phenomenon known as the "sunk cost fallacy," where entrepreneurs believe that they have invested too much time, money, and resources to abandon their business even if it is failing. They may continue to pour more money into the business and delay the inevitable exit.

One Problem for Failed Entrepreneurs Is That Many Will Not