Jeff Heggie – It’s OK to Choose Failure over Losses

BIO: Jeff Heggie is an entrepreneur and success coach with a passion for helping others achieve their biggest dreams. STORY: Jeff started a manufacturing business with a former client, and everything was going great until the 2008 financial crisis hit. While it would have been a better idea to close down the business then, Jeff put everything he had, including his house, into the business to try and salvage it. Unfortunately, it never recovered, and they had to finally close it after COVID-19 hit. LEARNING: Sometimes, it’s better to accept failure instead of getting sucked into the sunk cost fallacy.   “A fixed mindset focuses on specific outcomes, whereas the growth mindset focuses on the process and doing things right.”Jeff Heggie  Guest profilehttps://www.linkedin.com/in/jeff/ (Jeff Heggie) is an entrepreneur and success coach with a passion for helping others achieve their biggest dreams. As a coach, Jeff starts with a focus on mindset. Taking his client or their business to the next level always begins with the right mindset. Jeff enjoys using his extensive experience in the banking industry, over twenty years as an entrepreneur, plus his training and experience as a coach to help his clients break through the mental and physical barriers that hold them back Worst investment everJeff left the banking industry when he saw an opportunity with one of his clients, who turned into an incredible mentor and a great business partner. Together they started a manufacturing company that though it was capital intensive, and did pretty well. Then the 2008 financial crisis hit, and their world got turned upside down. They came to a point between 2008 and early 2010 where everything they tried to do failed. They should have closed the company, but as the CEO, sitting in a staff meeting with all the team heads, Jeff decided failure was not an option. And so, they invested more to try to save the company. Jeff took everything he had and even mortgaged his house and put it back into this company. His ration