Amazing Fba

The Sunk Cost Fallacy and Mike’s old hat – The True Cost of Owning Stuff

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Sinopsis

Title: Mindset Moments: Introduction Welcome to Mindset Moments with Michael from Amazing FBA! Join me as we explore bite-sized thoughts and wisdom about business and life during my wanderings around London and Europe. The Hat and Clothing Dilemma: Money and Time Today, let's talk about the significance of a hat and some clothes in life and business. I have a rather fetching hat, similar to one Terry Pratchett wore. While it holds happy memories, it's time to part ways. Let's delve into two reasons behind my decision - time and money. The Hidden Costs of Objects Everything we buy has a cost, not just in terms of money but also in opportunities. Every purchase means allocating funds away from other potential investments. As an e-commerce seller, putting money into inventory means missing out on potentially more profitable ventures. Neglected Inventory and Its Consequences Long-term storage implications of owning inventory often go unnoticed. Whether it's stored in your closet, warehouse, or home, space has a