Debt isn’t just about money. Every decision we make in our work—every project, commitment, and responsibility—comes with a cost. Sometimes that cost is obvious, like the price of hiring a team or upgrading equipment. But more often, the real cost is hidden. This is project debt.
Project debt is the accumulation of effort, resources, and time required to maintain the choices we’ve already made. It’s the opportunity cost of saying yes to one thing while unknowingly saying no to something else. And if we don’t recognize it, we can find ourselves buried in obligations we never meant to take on.
The Different Kinds of Debt You’re Already Carrying
Debt isn’t inherently bad. Used wisely, it can create leverage. Used recklessly, it can become a trap. The key is seeing it for what it is.
- Technical Debt – Originally a programming term, this refers to the extra work required to maintain old systems instead of building something new. The same happens in creative work: old habits, outdated tools, and past commitments can keep us from reaching higher.
- Project Debt – Every new project is an ongoing responsibility. It’s easy to take on projects without thinking about the maintenance, the meetings, and the mental energy they require long-term.
- Time Debt – Our calendars fill up with tasks and obligations that leave little room for deep, meaningful work. The more fragmented our attention, the harder it becomes to produce anything of real value.
The Myth of More
It’s easy to believe that more is better—more clients, more projects, more platforms. But every new commitment carries an unseen weight. A simple example: someone suggests you start posting on another social media platform. “It’s just a few minutes a day,” they say. But is it?
- Creating content takes time.
- Engagement takes time.
- Learning the platform’s nuances takes time.
It’s not a one-time action. It’s a long-term responsibility. Each new project commitment comes with project debt. It’s owning a dog—not just playing with a puppy.
Saying Yes, Saying No
Every yes is a silent no to something else.
- Saying yes to another client might mean saying no to the deep work that will actually grow your business.
- Saying yes to another social platform might mean saying no to the open space needed to do your creative work.
- Saying yes to endless meetings might mean saying no to time needed for strategy and reflection.
If we don’t recognize this, we end up stretched thin, trying to manage too much, with too little time left for what truly matters.
How to Manage Your Project Debt
- Declare Bankruptcy When Necessary – Just as companies shut down old software, sometimes you need to shut down projects, commitments, and systems that no longer serve you.
- Limit the Number of Open Loops – Before saying yes to something new, ask: What will this require of me over the long term?
- Choose What Scales – Some projects multiply effort (hiring/managing a team, maintaining software), while others scale easily with less maintenance effort (publishing a book, licensing content–after the initial lift, very little goes into maintaining it’s value). The more scalable your work, the less debt it accrues.
- Measure the True Cost of “Small” Commitments – A five-minute daily task might seem minor, but over a year, that’s 30 hours. Every commitment adds up.
Be Careful Who You Owe
Financial debt comes with interest. So does project debt. The difference? Project debt compounds invisibly. The time, attention, and energy you owe will shape what you can—and can’t—do next.
Before you take on more, ask yourself: Am I making a choice that opens doors, or am I signing up for debt that will limit what comes next?
Every yes carries a cost. Make sure it’s one you actually want to pay.
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