The key to success is to get things right more often than you get things wrong, and an important element of this is recognising when something is not working and cutting your losses so you don’t throw good money after bad.

Today Andee looks at three situations in business where many people throw good money after bad. If you are caught in any of these situations we suggest you take a long hard look at what you are doing and consider a change of strategy.

The Vlog series comes from One Sherpa an online global membership community dedicated to helping small business owners succeed and prosper.

The series is filmed on location around Melbourne, Australia and answers questions commonly asked by small business owners.

This video is filmed from the Rye Back Beach and answers the question ‘When do I know if I’m pouring good money after bad?’