WM-488: The Dangers of Sunk Cost Fallacy | Photography Clips Podcast

Photographers hear it all the time: follow the rule of thirds, shoot during golden hour, use leading lines, frame your subject just so. These formulas are everywhere. They promise guaranteed results, and sometimes, they do deliver something pleasing. But if we rely too heavily on formulas, our photography runs the risk of becoming repetitive and uninspired. That’s why it’s important to understand the difference between a formula and a strategy. One boxes you in; the other sets you free. In a previous post, I explored how photography formulas can become a trap—producing predictable photography techniques that lack depth. Here, I want to dig into the contrast between formulas and photography strategies, and why embracing a strategic mindset can lead to more creative photography... Podcast Notes: https://www.moneymakerphotography.com/formulas-versus-strategies/ Photography Clips Podcast: https://www.moneymakerphotography.com/podcast/ Follow me: https://www.facebook.com/Will.Moneymaker https://www.instagram.com/willmoneymaker https://www.youtube.com/@willmoneymaker https://www.flickr.com/photos/willmoneymaker #PhotographyClips #WillMoneymaker #Photography

What are the best tools for photography? I spend a lot of time talking about what the reviewers say. If you listen, they will have you believe that the best gear is the gear that has the highest megapixels, the things that will produce the sharpest image quality, the best colors—that sort of thing. I’ve long argued against this, saying that, in most cases, these costly items are overkill. The megapixels and incredibly sharp resolutions are a wasteful investment when you consider that the average photographer will never produce the billboard-sized prints these devices are designed for... Podcast Notes: https://www.moneymakerphotography.com/the-best-tools/ Photography Clips Podcast: https://www.moneymakerphotography.com/podcast/ Follow me: https://www.facebook.com/Will.Moneymaker https://www.instagram.com/willmoneymaker https://www.youtube.com/@willmoneymaker https://www.flickr.com/photos/willmoneymaker #PhotographyClips #WillMoneymaker #Photography

For most of us photographers, the reality is that we’re not making a living from photography. For many of us, that’s deliberate. Some simply don’t want to turn a favorite hobby into a job. Others of us may have goals and dreams, but perhaps we’re just starting out, or the demand for our particular brand of photography just isn’t that high yet. Whatever the reasons, the point is that most of us have to do something else for a living—and everything else that we have to do, from jobs to family obligations, takes away from the time we have to devote to photography. All of that leads to us seeing all kinds of photographic opportunities as we go about the rest of our lives. But, because we are busy with the rest of our lives, we just don’t stop to take the picture. I’m sure it’s happened to you, and it’s definitely happened to me many times. How many times have you noted that thus and such place looked like a great spot for photography—but you didn’t have time to stop.., Podcast Notes: https://www.moneymakerphotography.com/taking-notes/ Photography Clips Podcast: https://www.moneymakerphotography.com/podcast/ Follow me: https://www.facebook.com/Will.Moneymaker https://www.instagram.com/willmoneymaker https://www.youtube.com/@willmoneymaker https://www.flickr.com/photos/willmoneymaker #PhotographyClips #WillMoneymaker #Photography

There are a few things that top the list of struggles for photographers. For instance, portrait subjects who find it hard to be comfortable in front of the lens, or lighting that just won’t cooperate no matter how you try to modify it. But nothing is so ubiquitous as the weather. It causes all kinds of problems, from rained out trips to the high humidity that results in frizzy hair. So how do we photographers deal with the weather? Well, the first step is planning around it. It’s always a good idea to check weather forecasts and plan our photography tripsaccordingly, choosing days when we think the weather will be just what we need to complement our photographs... Podcast Notes: https://www.moneymakerphotography.com/dealing-with-the-weather Photography Clips Podcast: https://www.moneymakerphotography.com/podcast/ Follow me: https://www.facebook.com/Will.Moneymaker https://www.instagram.com/willmoneymaker https://www.youtube.com/@willmoneymaker https://www.flickr.com/photos/willmoneymaker #PhotographyClips #WillMoneymaker #Photography

Today, I find myself thinking of the concept of “the hero’s journey.” If you’re not familiar with this, it’s basically a type of plot that you’ll commonly find in novels. The idea is that while the destination might be the goal, it’s not what makes the bones of the story. Rather, the heart of the story is in the journey—the hero’s journey, in which he or she perhaps literally journeys across the land, faces a whole lot of adversity, and in the process, undergoes an inner journey in which the hero learns, grows, and adapts. Podcast Notes: https://www.moneymakerphotography.com/dont-discount-the-trip/ Photography Clips Podcast: https://www.moneymakerphotography.com/podcast/ Follow me: https://www.facebook.com/Will.Moneymaker https://www.instagram.com/willmoneymaker https://www.youtube.com/@willmoneymaker https://www.flickr.com/photos/willmoneymaker #PhotographyClips #WillMoneymaker #Photography

As a photographer, sometimes you get the sense that opportunity isn't finding you. There are no new places around you to take interesting new photographs, and you don't have the time or money to head out on a trip to somewhere exotic. You fall into a kind of doldrums, unable to move forward, and find that it becomes an incredible struggle to get the inspiration you need to create something new. Worse, that attitude often extends into other areas of photography. Your work isn’t being published or displayed because no good opportunities have presented themselves to you, for instance. Once you get into this mode of thinking, it can be tough to break free, to keep going. I’ve been there myself. The thing is, an opportunity is not something that will come to you. Though it is a challenge, an opportunity is something that each photographer creates for themselves. Let me show you some ways to make the opportunity happen. Podcast Notes: https://www.moneymakerphotography.com/photographers-make-opportunities/ Photography Clips Podcast: https://www.moneymakerphotography.com/podcast/ Follow me: https://www.facebook.com/Will.Moneymaker https://www.instagram.com/willmoneymaker https://www.youtube.com/@willmoneymaker https://www.flickr.com/photos/willmoneymaker #PhotographyClips #WillMoneymaker #Photography      

As a photographer, sometimes you get the sense that opportunity isn't finding you. There are no new places around you to take interesting new photographs, and you don't have the time or money to head out on a trip to somewhere exotic. You fall into a kind of doldrums, unable to move forward, and find that it becomes an incredible struggle to get the inspiration you need to create something new. Worse, that attitude often extends into other areas of photography. Your work isn’t being published or displayed because no good opportunities have presented themselves to you, for instance. Once you get into this mode of thinking, it can be tough to break free, to keep going. I’ve been there myself. The thing is, an opportunity is not something that will come to you. Though it is a challenge, an opportunity is something that each photographer creates for themselves. Let me show you some ways to make the opportunity happen. Podcast Notes: https://www.moneymakerphotography.com/photographers-make-opportunities/ Photography Clips Podcast: https://www.moneymakerphotography.com/podcast/ Follow me: https://www.facebook.com/Will.Moneymaker https://www.instagram.com/willmoneymaker https://www.youtube.com/@willmoneymaker https://www.flickr.com/photos/willmoneymaker #PhotographyClips #WillMoneymaker #Photography      

As a photographer, sometimes you get the sense that opportunity isn't finding you. There are no new places around you to take interesting new photographs, and you don't have the time or money to head out on a trip to somewhere exotic. You fall into a kind of doldrums, unable to move forward, and find that it becomes an incredible struggle to get the inspiration you need to create something new. Worse, that attitude often extends into other areas of photography. Your work isn’t being published or displayed because no good opportunities have presented themselves to you, for instance. Once you get into this mode of thinking, it can be tough to break free, to keep going. I’ve been there myself. The thing is, an opportunity is not something that will come to you. Though it is a challenge, an opportunity is something that each photographer creates for themselves. Let me show you some ways to make the opportunity happen. Podcast Notes: https://www.moneymakerphotography.com/photographers-make-opportunities/ Photography Clips Podcast: https://www.moneymakerphotography.com/podcast/ Follow me: https://www.facebook.com/Will.Moneymaker https://www.instagram.com/willmoneymaker https://www.youtube.com/@willmoneymaker https://www.flickr.com/photos/willmoneymaker #PhotographyClips #WillMoneymaker #Photography      

How many times have you snapped a few pictures from the hip only to realize the lens cap is still on? How many times have you taken a few photographs, only to come back later and find spots and smudges in them because your lens had a fingerprint or dust on it? I know these sorts of things have happened to me more often than I’d like to admit. Podcast Notes: https://www.moneymakerphotography.com/good-habits-are-the-enemy-of-silly-mistakes/ Photography Clips Podcast: https://www.moneymakerphotography.com/podcast/ Follow me: https://www.facebook.com/Will.Moneymaker https://www.instagram.com/willmoneymaker https://www.youtube.com/@willmoneymaker https://www.flickr.com/photos/willmoneymaker #PhotographyClips #WillMoneymaker #Photography

If you’ve never heard of “sunk cost fallacy,” I’ll take this opportunity to explain it. It’s a phenomenon that happens when you’ve invested in something so that you’re unwilling to stop pursuing that thing. Among gamblers, the idea is that if they keep betting another few bucks, eventually, they’ll win. They’ve sunk too much into their evening of gambling to walk away without a win. Sunk cost fallacy isn’t just about gambling, though. It rears its head everywhere. You’ll see it in someone unwilling to sell a car they’ve invested a lot into because they won’t recoup the value. You’ll see it in managers who refuse to give up on a system that just isn’t working for the company, but they keep pursuing it because they’ve sunk time and money into that system and feel they can’t turn back now... Podcast Notes: https://www.moneymakerphotography.com/the-dangers-of-sunk-cost-fallacy/ Photography Clips Podcast: https://www.moneymakerphotography.com/podcast/ Follow me: https://www.facebook.com/Will.Moneymaker https://www.instagram.com/willmoneymaker https://www.youtube.com/@willmoneymaker https://www.flickr.com/photos/willmoneymaker #PhotographyClips #WillMoneymaker #Photography