Goal setting is the most common advice for success: Set your goals, write down your goals and share your goals. Only doing goal setting can also block you from truly being successful.

It all goes back to the sunk cost fallacy.

The classic economic argument is that you are more likely to invest more into a bad deal because you've already invested in the deal, rather than cut your losses to pursue a better opportunity. You are using your past investment decision to justify your next investment decision.

Nobel Prize winning economist Daniel Kahneman explores this well in his best-seller, Thinking Fast and Slow.

So, how can you prevent your goals from strangling you? There are a few ways:

How to Get Your Business What it Needs From the $2 Trillion Stimulus: Join Us for a Live Expert Q&A
Published on: Aug 24, 2017
The opinions expressed here by Inc.com columnists are their own, not those of Inc.com.